ECOMMERCE DEFINITION | 7 TYPES OF ECOMMERCE BUSINESSES 2023
Economists confirm that the third industrial revolution focused on the software industry, the Internet and open satellite channels began with the advent of the computer. This has brought about tremendous developments in all areas of life, especially economic and commercial ones. The markets have been crowded with companies and multiple products, and competition has intensified among them then eCommerce emerged as a tool for modern commerce which has contributed significantly to changing the future of global business.
eCommerce affects economic variables and growth rates. It leads to higher wages, higher standards of living for individuals, structuring markets, expanding marketing, increasing sales and exports, and thus increasing production and growth rates. The use of modern technological means of a trade by states increases the strength of their economy and its growth, and this is beneficial to the social, health, and education sectors, because of the use of modern technological means in the dealings, and under the electronic commerce, it is possible to develop products under its electronic nature, which increases sales and Increases corporate profits.
Ecommerce provides the right climate for the increase of production and efficiency by supporting the computer and software industries, the technological industry, and other associated industries, such as electronic storage media, networks, and communications, which are the infrastructure for eCommerce.
The spread of eCommerce requires more of these products, which increases its production. In particular, the use of electronic means in trade increases the level of management and organization within the institution and the development of its production activities, such as searching on the Internet for new sources of funding abroad and producing new types of Goods fit for the nature of eCommerce, which works to support the economies of countries.
