Commerce Flashcards
Commerce
the activity of purchasing and selling goods/services on a large scale
e-commerce
any type of business that involves the transfer of information across the internet
Types of transactions
Consumer –> Consumer
Consumer –> Business
Business –> Business
Business –> Consumer
1971
Stanford students use ARPANet to sell pot
1979
Aldrich invents online shopping with videotex
1991
National Science Foundation lifts commercial ban
1994
Netscape SSL (Secure Socket Layer)
1995
Cyber Cash & First Virtual process credit cards
Amazon starts, Jeff Bezos, online bookstore
eBay, Pierre Omidyar in San jose, e-Commerce site to connect globally
2000
Commercial retail opens online (target, walmart, macys)
2002
eBay buys PayPal
2003
iTunes launches– Biggest online store ever
2014
Overstock has $1 million in Bitcoin sales
Amazon
Largest internet retailer based in US; Surpassed Walmart 2015
eBay
2007: 5 million transactions; owns part of Craigslist
Etsy
2005, peer to peer; in 2014 $195.6 mil in revenue
iTunes
2013: 25 billion songs sold (7 mil/day)
Overstock
Patrick Byrne May 1999; initially surplus and returned items
PayPal
1998; in 2014 had $228 bil in 26 currencies, 190 countries
Square
for small businesses, w/ simple credit card transactions
NFC
Near field communications (to make secure payments fast and convenient)
Apple Pay
Mobile Device + Wallet
Changing Economy and Changing Commerce
Collaborative consumption: shared access
Product-service systems: Uber, AirBnB
Redistribution Markets: eBay, Craigslist
International Commerce
Inconsistencies (language, currency, culture);
legal limitations;
payment variation;
logistics/delivery
eCommerce issues
Security/privacy, fraud, order fulfillment, delivery
eCommerce v Retail
eCommerce is cheaper but retail has higher profit margin; eCommerce has more competition but no limit on customers
