Features and potential of electronic trade development in modern conditions
Abstract
Economic crises affect trade volumes and the stability of the national financial system. In the context of the COVID-19 epidemic and the emergence of crisis phenomena in the economy, it is actual to look for directions of trade development in the present conditions. The features, problems and prospects of global and domestic e-commerce market development are investigated in the paper. Electronic trade volumes are growing steadily. It is substantiated that Ukraine has the potential to expand the scope of electronic trade. Modern information technologies can be effective for increasing the profitability of trading enterprises. Problems of functioning of electronic trade need to analyze new trends and developments in Ukraine. The purpose of the article is to analyze the potential of development of e-commerce in general and to study the features of e-money in the current conditions. Ukraine's electronic trade market is small compared to world leaders. However, the growth rate of Ukraine's electronic trade market is similar to that of developed countries. E-money can play an important role in e-commerce. Decentralized electronic currencies compete with fiat money. At the same time, the potential of e-currencies can give impetus to the development of electronic trade. Electronic money is nowadays compared to the creation of digital analogues of gold. Also used in the scientific literature are the terms virtual currency, hybrid money, money surrogate, cryptocurrency, claims, private electronic money, speculative financial instrument, financial pyramid, digital analogue of raw materials and precious metals. Trading by electronic means of payment has the prospect of business expansion. In a viral epidemic, the National Bank of Ukraine recommends minimizing cash use. Many businesses are moving to electronic trade. Crisis phenomena are actually accelerating the implementation of effective directions for long-term electronic trade development strategies. An analysis of the growth rates of electronic trade volumes shows that the growth rates in Ukraine are approaching the global average. This situation may be associated with an increase in Internet distribution in Ukraine. Ukraine's electronic trade market demonstrates sustainable development potential. It can be hypothesized that trends in the development of the electronic trade market may change due to internal and external factors. The potential of electronic trade market can be estimated at 1-3% of annual growth of electronic trade.
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