E-consumerism protocol based cash transaction system. Later,

Published by admin on

E-consumerism is a topic that is
closely bound along the same lines as E-Commerce. E-Commerce can be defined as the
process of transaction of vendors and buyers interacting through the internet for
their own needs of buying or selling items. This study aims to throw light on the
inception of the phenomenon of e-consumerism in the global perspective and how
it has now taken over a vast portion of the entire commercial market and its introduction
into India.

Technology has become so influential
in the 21st century that we live in that it is practically
impossible to even imagine a day without the functions our many devices and internet
services provide us. The continual evolution of information technology has coerced
players in the market to up their game by inculcating the latest technologies
to be able to sustain themselves in the competitive global economy. Online
shopping can be traced back to the time late 1980s when Sting’s album “Ten
Summoner’s Tales” were marketed and sold online in a secure protocol based cash
transaction system. Later, an entrepreneur Michael Aldrich based in the UK
invented a system called Videotex which made us of real-time telephonic
interaction to purchase items-this technology brought about a boom in sales and
newer companies seeking to foray into the digital world to increase their
global outreach.1
In terms of e-sales, the most recent statistics have showed that Asia-Pacific increased their
international sales over 30% giving them over $433 billion in revenue. That is
a $69 billion difference between the U.S. revenue of $364.66 billion.2
It is estimated that Asia-Pacific will increase by another 30% in the year 2013
putting them ahead by more than one-third of all global e-commerce sales.3

A major advantage that e-commerce was
expected to have during its early stages were laxation on stringent
governmental rules on trade and commerce, but due to its every growing
popularity, governments of various countries have introduced provisions to
ensure that they’re being done fairly.


The regulatory bodies of different
countries play a very integral role in the smooth conduction of e-consumerism:

the United States, all forms of e-consumeristic activities are regulated by The
Federal Trade Commission which keeps a check on all forms of advertising
including online advertising, privacy of consumers, deceptive malpractices etc.

give a more common global set of regulations regarding e-commerce, many countries
follow the UNCITRAL Model Law on E-Commerce of 1996. The International Consumer Protection and
Enforcement Network (ICPEN) is a forum for various trade organizations around
the world which aims to create a free and fair manner of tackling problems that
arise when cross-border transactions of forms of goods and services are

has one of the largest existing e-commerce platforms in the world with the key
player being Alibaba group of companies established by Jack Ma. Alibaba has a
market share of around 80% in the e-consumer industry owing to the large number
of internet users in the country,helping the e-commerce industry in China
produce over US$899 billion in annual sales in the year 2016. China also
adopted The Electronic Signature Law that is used to regulate and control data
messages, authentication of electronic signatures and also the legal liability issues
that are prevalent. It is definitely one of the key events that happened in the
history of e-commerce in China as it has created a boom in the nation which propelled
it into global significance. 4




1 1982 Videotex Communications,
Collected Papers Aldrich
Archive, University of Brighton December 1982 1

2 Steven Millward (November 12, 2014). “New record for world’s biggest shopping day as
Alibaba’s shoppers spend $9.3 billion in 24 hours”. Tech in Asia. Retrieved December 5,2014.

3 C. Custer (October 14, 2014). “Tmall CEO: this year, Alibaba plans to take
Singles Day global”. Tech in Asia. Retrieved December 5, 2014.

4 Gracie, Carrie (8 September 2014). “Alibaba IPO: Chairman Ma’s
China – BBC News”. BBC News. Retrieved 13 February 2017

Categories: E-Commerce


I'm Iren!

Would you like to get a custom essay? How about receiving a customized one?

Check it out