The timeline of technological advances in the history of commerce is marked by a series of major game-changers followed by incremental, yet significant, improvements. For instance, the modern credit card was born in 1950, a major breakthrough that for the first time gave consumers the ability to make cash-less transactions across multiple retailers. From there, incremental improvements included the switch from carbon-copy receipts made by a charge plate, to printed receipts generated by information contained on magnetic strips, and eventually do-it-yourself credit card payments at gas station pumps and other places.
But the advent of e-commerce in the mid-1990s is perhaps the most significant technological breakthrough in commerce, ever. It opened up the world economy to everyone, and the numbers since then have been staggering. On a global level, e-commerce is expected to account for $1.5 trillion in sales worldwide in 2014, a 20% increase over 2013. On an anecdotal level, Amazon averaged an astonishing 426 items sold per second during the most recent Cyber Monday, totaling nearly 37 million sales on the day.
Brick and mortar retailers and the consumer packaged goods companies that sell through them have entered the fray, creating online and mobile outposts to serve new age consumers. As a global leader in IT solutions for these industries, Mindtree has created a new awards program with IGD, a membership organization for the retail and consumer goods industries with 800 members worldwide, to recognize the kind of important innovations in e-commerce that can make significant improvements to companies’ profits and growth while also enhancing the shopping experience for customers.
We feel uniquely positioned to spearhead this important new award. Born in the digital age, Mindtree has been helping clients build an online presence from day one, with a long track record of success in creating innovative and robust digital commerce experiences:
We have been behind significant new innovations in e-commerce and m-commerce for major retailers and CPGs across the buy-side and sell-side of their value chain. We have also created an industry-leading Omni-Channel Service Orchestration solution – a proprietary platform that allows companies to present a seamless shopping experience across all channels.
Now we want to hear about you. Has your company achieved breakthrough innovation in online sales? Has the killer mobile app you developed gotten rave reviews from your customers? Maybe this award has your name on it. Submit your entry today.
Global B2C Ecommerce Sales to Hit $1.5 Trillion This Year Driven by Growth in Emerging Markets – eMarketer, Feb. 3, 2014.
Amazon Reveals Holiday Sales: Cyber Monday Orders Rose 39% – Bloomberg Businessweek – Dec. 26, 2013