International Interdisciplinary Scientific Journal "Expert" (Feb 2024)

PRIORITY VECTORS OF RETAIL E-COMMERCE DEVELOPMENT UNDER THE INFLUENCE OF GLOBAL DIGITALIZATION PROCESSES

  • Vasyl Bilych,
  • Yevhenii Shandlorenko,
  • Oleg Bilenkyi ,
  • Vitalii Skichko

DOI
https://doi.org/10.62034/2815-5300/2024-v1-i2-004
Journal volume & issue
Vol. 1, no. 2
pp. 48 – 63

Abstract

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The article assesses the development of retail e-commerce under the influence of global digitalization processes. The authors prove that current trends in the global economy reflect key aspects of the development of the digital economy and, accordingly, retail e-commerce. Under their influence, significant changes are taking place in the living conditions of society, market conditions and in the scientific sphere, and there is an increasing demand for highly qualified workers. The paper emphasizes that under the influence of profound and extensive changes brought about by digital technologies, conceptual models of business development and social communication are transforming, and the role of the state in the new digitalized environment is being reconsidered. These transformations require participants to be highly adaptable, develop new skills and competencies, and be ready to take advantage of digital transformation. The paper emphasizes that there are potential risks of negative impact of digital transformation, which are manifested primarily in the need to adapt to new conditions, such as the inevitability of displacement of outdated professions by new technologies or artificial intelligence systems, the disappearance of traditional markets, as well as the threats of personal data leakage and the need to protect copyrights and other aspects. The authors prove that e-commerce encompasses more than just online advertising or launching a virtual retail store. Successful enterprises in this area are based on reliable technologies of interaction with consumers, which arise from the experience gained in the early stages, sound business schemes and a carefully developed infrastructure for servicing business processes. The main advantage of using digital technologies in the field of online retail is the ability to predict demand and thoroughly study consumer needs.

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