NORFOLK, Va. — What would we do without online shopping? For many of us, it’s not just a convenience anymore... it’s just a way of life.
But when did it all start? When did e-commerce become the juggernaut it is today?
Let’s go back to 1991. The concept was still in its infancy, but even companies like Smithfield Ham saw the potential in online shopping. They called it an “electronic catalog” back then, and while you couldn’t pay for it online, you could have a honey-baked ham shipped anywhere in the country after a few clicks.
From there, things escalated quickly
“Being able to buy things and request things, that really started to change in the late '90s,” said Luke Downing, President of tech company Mode5 in Norfolk.
Amazon first launched in 1995 as an online bookstore, and then three years later in 1998, PayPal was founded.
At the turn of the century, the internet on our phones was becoming a thing, and by the mid-2000s online shopping was mainstream.
The first Cyber Monday event happened in 2005. We have come a long way since then.
E-commerce sales today have reached $5.5 trillion per year. By 2026, they’re expected to make up a quarter of all retail sales across the globe.