A sharp rise in adoption begins (resembling a hockey stick when shown graphically), and penetration (growth in the prevalence of an innovation) accelerates rapidly as a result of productive and useful value.
Stage 5: Plateau of Productivity: With the real-world benefits of the innovation demonstrated and accepted, growing numbers of organizations feel comfortable with the now greatly reduced levels of risk. Even without the use of ads, business pages marked as such continue to allow smoother interaction between the business and the potential customer.
Social media: several social media networks, the most prominent being Facebook, began offering ad space in its network. This lowered the cost of advertising online and made it possible to reach more potential customers. This has since expanded to include websites that offer space for ads. Online ads: In 2000, Google introduced AdWords, an online advertising platform that shows your ads alongside the search results in Google. PayPal gives consumers a separate digital wallet for online transactions, adding a layer of security to their money by using an intermediary instead of a direct credit card payment. Digital wallets and payment systems: In 1998, PayPal debuted as an e-Commerce payment system. New developments allowed the e-Commerce innovation to mature: Several e-Commerce companies such as Amazon and eBay survived the dot-com bubble in the late 90’s and managed to later dominate the e-Commerce industry (especially true for Amazon). Their understanding grows about where and how the innovation can be used to good effect and, just as importantly, where it brings little or no value. Organizations draw on the experience of the early adopters. Stage 4: Slope of Enlightenment: Some early adopters overcome the initial hurdles, begin to experience benefits and recommit efforts to move forward. Several Internet companies quickly ran out of cash, forcing them to declare bankruptcy and close down. The conditions during the growth of e-Commerce services in the late 1990’s led to the growth of the so-called dot-com bubble. Problems with performance, slower-than-expected adoption or a failure to deliver financial returns in the time anticipated all lead to missed expectations, and disillusionment sets in. Stage 3: Trough of Disillusionment: Inevitably, impatience for results begins to replace the original excitement about potential value. Investors start flocking to the emerging e-Commerce platforms. Other e-Commerce services included Pizza Hut’s online portal called – you guessed it – PizzaNet, eBay, Rakuten, Alibaba,, and Webvan. Who would have thought that selling books will make you ultra-rich? Image source One of them is Amazon, an online bookstore. In some cases, an investment bubble forms, as occurred with the web and social media.įrom 1994, several e-Commerce websites were founded. Stage 2: Peak of Inflated Expectations: A wave of “buzz” builds and the expectations for this innovation rise above the current reality of its capabilities. This can be considered as the birth of e-Commerce. It managed to demonstrate data encryption in securing payment transactions. It was called NetMarket, touted as the equivalent of a shopping mall in cyberspace. The first e-Commerce site was set up in 1994. The solution is data encryption: encrypt the transmissions on the client side and then decrypt it on the server side. One significant challenge for establishing e-Commerce platforms is securing transactions from wiretapping, electronic eavesdropping, and theft. Stage 1: Innovation Trigger (formerly called Technology Trigger): The Hype Cycle starts when a breakthrough, public demonstration, product launch or other event generates press and industry interest in a technology innovation. One good example of an innovation that completed the hype cycle is e-Commerce. The combination of the hype level and the innovation maturity level forms the hype cycle. Finally, the innovation is considered mature when it gains widespread acceptance in the market. Over time, as the innovation is further improved to solve the challenges facing its implementation, more and more companies are now opting to implement it. At the start, the innovation is not yet fully developed thus, implementation is not widespread. The innovation maturity level describes the level of development and implementation of an innovation. 
The introduction of an innovation generates hype depending on the expectations for its capabilities the grander the expectations, the taller the peak of the hype level will be. The hype level illustrates the level of hype for the newly-introduced innovation. The hype cycle is a combination of the hype level and the innovation maturity.
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