Future of e-commerce

Hello Everyone,

Today I’ll discuss about the future of e-commerce. E-commerce without a doubt is the next big thing. It is growing at a rapid pace and will drive retail growth in the future. E-commerce provide retailers much larger and competitive market to sell their products. Social media will also plays an important in the future growth of e-commerce as nowadays most of the people stay update about their favorite brand through social media.

 

Internet connectivity is increasing around the world this will open plethora of opportunities for the future growth of e-commerce.  As far as e-banking is concern its popularity has been increasing and people from all age groups prefer to bank online rather than visiting a branch.

Growth of e-commerce

Hello Friends,

Today I would like to share some statistics about the growth of e-commerce. E-commerce industry has been growing and expanding at an enormous rate. In 2013 business- to- consumer (B2C) e-commerce sales have increased by 18.3% from the previous year and hit $1.200 trillion mark (Emarketer, 2014). In 2016, it’s expected to reach at 1.92 trillion US dollars (Statista, 2015). Business- to- business (B2B) market is also going through tremendous change. B2B e-commerce is expected to hit $12 trillion in 2020, up from $5.5 trillion in 2012 (E-commerce B2B, 2015). One of the main reason for e-commerce growth is that now more people have access to internet in the world and the popularity of e-market places such as amazon.com, e-bay.com, Alibaba.com. This video perfectly explain the reasons for e-commerce growth .                                                    
 

                                                          (Volusion, 2013).

 

 

References

 

E-commerce B2B. (2015). Retrieved from E-commerceandB2B.com: http://ecommerceandb2b.com/b2b-e-commerce-trends-statistics/

Emarketer. (2014). Retrieved from Emarketer: http://www.emarketer.com/Article/Global-B2C-Ecommerce-Sales-Hit-15-Trillion-This-Year-Driven-by-Growth-Emerging-Markets/1010575

Statista. (2015). Retrieved from Statista: http://www.statista.com/statistics/261245/b2c-e-commerce-sales-worldwide/

Volusion (Director). (2013). 5 Reasons Why Ecommerce is Growing at a Breakneck Pace [Motion Picture]. Retrieved from https://www.youtube.com/watch?v=_pjlkDJ14s0

 

 

E-banking

Hi Everybody!

Today I would like to talk about E-banking. E-commerce has not only proved useful in our day to day shopping but it has also benefitted in our daily banking transactions. Now we don’t have stand in long queue for depositing or withdrawing money. Now we can do banking on our computers. Further, it has been helping banks in improving its customer service, reducing cost and enhancing productivity. Banks are also considering the option of providing access to its website form ATM’s. E-commerce also proved quite beneficial to environment and almost reduced paperwork to zero.  I have come across this article about the role of banks in e-commerce.

www.newyorkfed.org/research/current_issues/ci6-3.pdf