Insights into the second chapter!
Finally, the time has come! The 2nd edition of the successful “Key Factors in E-Commerce” is now available. Get a little taste here and gain some initial insights. If you don’t know the first chapter yet, click here.
2. Digitization in e-commerce – an overview
The way consumers buy products has changed dramatically since the beginning of the Internet age in the mid-1990s. Today, e-commerce platforms give customers access to an almost unmanageable range of goods offered by an ever-increasing number of companies. Even though in most countries the majority of private purchases still take place in stationary stores, it is clear that e-commerce has become an important part of economic and social life.
When the World Wide Web emerged as a mass platform for Internet use, e-commerce was one of the first applications to survive largely unscathed, even through setbacks to date such as two stock market and financial crises. In fact, e-commerce has established itself as a combined communication, sales and distribution channel not only for business-to-consumer retailing, but also for business-to-business wholesaling and direct sales by manufacturers (direct to consumer). The overarching relevance of e-commerce is all too clearly demonstrated by data and forecasts on revenue development (see Fig. 2.1).
The forecast development of sales in various sectors also clearly indicates that e-commerce is becoming an increasingly central part of companies’ operations. Economic benefits can therefore be generated in the medium and long term. Fig. 2.2 clearly shows that the Corona pandemic in 2020 will particularly strengthen online retailing of groceries & drugstores, as this sector sells goods that are among the basic needs of every person. Average annual growth of 5% to 10% is expected for the industries shown here up to the year 2024.
