Information Systems-e-commerce and the Internet Essay

Information Systems-e-commerce and the Internet - Essay Example But it is only after the inevitable dotcom bust in the early years of the millennia that e-commerce established itself as a viable and dependable method of conducting business. Technological innovation in terms of developing security software aided this process and so did the process of globalization. As a culmination of these parallel but complementary processes, e-commerce in general and electronic financial transactions in particular has firmly taken root in mainstream global economy. Since the beginning of the 1990s, and with the advancement in global telecommunications technology, e-commerce has really taken off. And online retailing comprises an integral part of this broader phenomenon. In advanced countries, traditional brick and mortar retail stores have extended their services through the Internet, adding new dimensions to the experience of shopping for consumers. New and exclusive online retailers have also sprung up to cater to the newly created demand by consumers online. While there are complaints and concerns about this new mode of business (especially security issues), there are also numerous redeeming features of e-shopping, without which the market share for this fledgling industry would not have risen to 10 percent approximately.