Developing countries E-commerce prospects and challenges
The first ten years of the new millennium have changed the relationship between companies and customers. The introduction of the internet and its improved connectivity led to rapid development in e-commerce in the last few years. This is obvious from the transformation from Amazon to a trillion-dollar business. E-commerc e has also been highly innovative in other e-commerce giants, including Alibaba, AliExpress, and E-bay. The benefits of e-commerce are clear - it helps firms to enter customers without caring about time or distance. The total volume of e-commerce revenues in 2019 is estimated to hit $3.46 trillion, according to a McKinsey survey. It demonstrates that e-commerce continues to provide many opportunities for abuse & development in developed countries. Challenges also occur when prospects exist In India, while the volume of e-commerce revenue in another developed world is a mere $84 billion, it is worse than its African counterparts. In a World Bank study, countr...