E-Commerce is defined as the buying and/or selling of services or products via electronic means and the internet has become the main conduit for this type of business. E-commerce has increased dramatically since the technology boom that integrated mobile devices with the worldwide web, and rocketed the creation of multiple levels of social media. Since 2008 E-commerce has multiplied exponentially, and it may be strange to think how fast our technological and digital interfaces are being incorporated into our daily lives. Chronicled below are some of the highlights and key players in global E-commerce, which is continuously striving to create a more accessible and well-rounded means of digitalized business.
In 2008, a provider of wireless stored value payment solutions called Transaction Wireless made $2.25 million through their venture, which involved creation of a platform that allowed retailers to offer their customers digital gift cards globally. These customized gift cards were embedded with stealthy marketing messages which helped build the retailer’s relationships with existing customers, as well as entice prospective customers. Two years later, an internet commerce marketing company called 8th Bridge expanded its operation after making a total of $15 million. The operations of the company extended to include a range of social E-commerce services that are mainly featured on Facebook.
Another company that played a significant part in the rise of E-commerce is fashion-oriented BeachMint, a social commerce company that works directly with designers to provide content to customers. Drawing direct lines between social networks and the online presence of the fashion industry, BeachMint managed to raise a total of $58.5 in financing since 2011. One of its most successful ventures has been StyleMint, a clothing collection of celebrity name apparel designed by famed twins Mary-Kate and Ashley Olsen.
With the rapid growth of Facebook, Twitter, Pinterest and other social media networks that are replacing outdated means of communication and marketing, E-commerce continues to gain popularity. The ability of E-commerce companies to effectively and efficiently fuse social platforms and product marketing is evident through the rise in online sales and consumers’ attraction to email marketing and its consumer deals.
Current companies with successful E-commerce solutions to follow and mirror are:
- Yardsellr – a digital platform for selling old wares that have been sold by means of a yard sale in previous decades. Their collaboration with Facebook has been colossally lucrative.
- Square – a credit card reader that can be plugged into iPhones, iPads and Android phones. Square card readers allow for a new level of digitized business transactions between small businesses and individuals. The idea is to turn mobile devices into a form of a cash register, to avoid card swiping.
- Own – has developed a customized display and mobile selling device called “The Own Tablet.” The aim is to provide improved and speedier order processing for business owners who are seeking a mobile E-commerce platform. The tablet can be used at point-of-sale retail settings, and has features such as categories, tax, and customization, and coupons and discounts are built in.