ELECTRONIC COMMERCE AND ITS IMPORTANCE IN THE DEVELOPMENT OF GLOBAL ECONOMY
Abstract
The study of the development of e-commerce and its impact on various sectors of the economy remains a relevant and important topic, even with a large number of studies already conducted. This is because the development of new technologies and the expansion of Internet coverage continue to bring changes to the field of e-commerce. Continuous research in this area allows us to better understand how e-commerce affects businesses, consumers, and the global economy as a whole. The purpose of the article is to explore the theoretical and practical aspects of e-commerce and its impact on the global economy. This study clarifies the concept of "e-commerce," identifies its types (B2B, B2C, C2C), provides an extensive list of advantages of e-commerce as a form of entrepreneurial activity, categorizes these advantages based on the interests of businesses, consumers, and society, and presents the volume of the global e-commerce market. The distribution of e-commerce market volumes among leading countries is examined. As a result, it is established that 10 countries occupy a dominant position, accounting for 88.6% of the total global e-commerce market, with China, the United States, and the United Kingdom comprising approximately 75.9% of the overall volume. The article analyzes the most popular global e-commerce platforms, such as Alibaba, eBay, AliExpress, Shopify, JD.com, Walmart, and Etsy. Ukrainian e-commerce platforms are also analyzed. The authors of the study highlight key aspects of e-commerce development in Ukraine over the past 10 years. The research reveals that infrastructure development, increased competition, and government support create favorable conditions for further e-commerce growth. Additionally, it is identified that e-commerce has a significant impact on the global economy and offers ample opportunities for expansion and development. Thanks to e-commerce, companies can engage in business more efficiently, reduce the cost of renting premises and maintaining physical stores, optimize supply and logistics processes, and attract customers from different parts of the world. E-commerce allows small and medium-sized businesses to become more competitive as it provides an opportunity to attract new customers and increase sales.
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