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Impact of e-commerce on the development of the economy

Impact of e-commerce on the development of the economy

0 answer 432 visits 29.11.18

Internet is an intermediary between entrepreneurs around the world. E-commerce is considered a factor for economic growth in both developed and developing countries. The affordable cost of online contracts expands sales geography, erases borders.

The level of development of world e-commerce plays a major role in the development of the world economy.



Influence of electronic commerce on the world economy



World electronic commerce in numbers

Internet commerce is becoming more popular every year.

For example, in the past 2017:

  • Еhe turnover of direct sales exceeded $ 1.3 trillion;
  • The trade turnover in the B2B segment amounted to more than $ 15 trillion.

In 2018, in transition economies and developing countries, online commerce accounts for more than 40% of all trade.

On a global scale, e-commerce is popular in the United States, Germany, the United Kingdom, Canada, Sweden, Luxembourg, Norway, and Finland.

For example, in the UK revenue from e-commerce amounted to more than 19% of the country's annual income. This figure includes retail trade, wholesale sales and trade in exclusive goods.


E-commerce in the world economy

Companies that make full use of the potential of Internet commerce - make changes that transform the global economy market.

In addition to changing the market, e-commerce has provoked the emergence of new products and services. Among them, online trading, Internet banking, electronic document management.

Using e-commerce saves money to business process participants. This includes the lack of payments for the content of the usual offline shops, reducing the cost of wages for employees, more targeted advertising on the Internet.

Participants in the online market correctly allocate resources: Savings money is directed towards advertising, network expansion, development of new goods and services.

The global logistics market is changing. In order to attract customers, the main players of the industry optimize delivery both domestically and abroad.


Influence of electronic commerce on the economy of Ukraine

According to expert estimates, Ukrainians' confidence in online shopping is growing. Only during the year Ukrainians spent more than 14.2 billion UAH on domestic brands. This is 68% higher than the same period last year. The number of ordered goods grew by 61%. Online are already buying 31% of Ukrainians who have access to the Internet.



The analysts have calculated which categories of goods in online stores were popular among Ukrainians last year:

  • 4.6 million - clothing, footwear and accessories;
  • 2 million - technology and electronics;
  • 1.9 mln. - goods for home and garden;
  • 1.6 million cosmetics and perfumery;
  • 1.1 million - gifts, books, goods for hobbies.

 The future is by service. The period of price competition is already over. Now Ukrainian buyers are attracted by sellers who have a high rating and positive reviews.

Work for yourself is a trend that is gaining popularity in Ukraine. Citizens leave their usual jobs to work for themselves. The development of e-commerce only helps in this.

An important role is played by the presence of markupplays. For example, even a small business accessible to the free marketplaces NYiGDE ?. Here they open their first business, expand business and get profit at once.

Ordering services with the help of marketplaces helps professionals become private craftsmen and work for themselves. Here I also earn those who make unique, exclusive items.


Secondary market

On Ukrainian marketplaces are the things that are no longer needed by the owners, but are in good condition. Reasonable use of things is not to throw away, but to sell for a small amount to the people they are used to. Thanks to the secondary market, good branded items are available to everyone.

Here is what the statistics of last year say:

  • 200 million UAH - for such a sum Ukrainians bought things from each other;
  • 878 thousand things got a chance for a second life.



E-commerce has brought serious changes to the economy:

Now companies prefer to finance not standard stores or points in shopping malls. They invest in the development of their own online stores.

  • More money is allocated for the improvement of logistics.
  • Employees who used to be hired employees go online and open their own business.
  • Digital electronic signatures and Internet banking change and simplify online trading processes.


The listed factors change the structure of the world market on a daily basis.


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