The Future Of The E-Commerce Industry

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Future of E-Commerce
E-commerce is a process of buying and selling of goods and services on the internet through electronic transactions (Bartholome, 2002). These transactions occur either business-to-business, business-to-consumer, consumer-to-consumer or consumer-to-business. E-Commerce is swiftly growing throughout the years with the development in Internet and innovation. The gigantic development of virtual groups - individuals getting together in ad hoc groups online - guarantees to alter the balance of economic power from the producer to the customer. Recent advancements in the fields of Information Technology and Internet have led to exceptional renewed interest in electronic commerce. This report presents the compensations and concerns e-commerce industry would face in the next five years.
The factors that will help define the future of e-commerce over the next five years include:
• Industry Giants like eBay and Amazon rule the current e-commerce scene, yet later on, boutique stores will turn into the alpha pooch. The amount of profitable online organizations will further decrease. The best e-commerce firms will utilize conventional promoting channels, for example, physical stores, e-commerce Web sites, and printed catalogs.
• Costs will ascend to take care of the genuine expenses of working together on the Web and to pay investors a sensible rate of profit for their investment.
• Organizations will be built on micro decisions and big data will be better utilized.

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