Prospects for the development of e-commerce: opportunities and risks

Over the past few decades, the use of e-commerce in business has increased significantly. More and more companies that used to focus exclusively on offline operations are beginning to consider e-commerce as a promising area of strategic development. As a result, studying the state of the e-commerce market in Ukraine, as well as trends and barriers to its development, will allow to develop an understanding of the peculiarities of the functioning and growth of business entities in the context of the Ukrainian online environment. In this regard, it is worth paying special attention to the study of the specifics of the development of the e-commerce market as a strategic recovery of the Ukrainian economy. The subject of the study is the process of development of the Ukrainian e-commerce market in the conditions of war. The purpose is to research and analyse the state of the e-commerce market in Ukraine in the context of growing instability caused by the war, as well as to identify key issues and trends in the development of the e-commerce system in an unstable and changing environment. The questions of this study require the use of a combination of general scientific and modern research methods, among which the most important are the method of system analysis (when studying the approaches and points of view of Ukrainian and Western scientists), economic and statistical analysis (to determine the trends in the development of e-commerce in Ukraine), analysis and synthesis (when studying the types and models of e-commerce), graphic analysis (to visualize a number of theoretical and practical provisions of the article). The article examines the state of the e-commerce market in Ukraine during the war. It finds that until 2022 there was a significant increase in the volume and growth rate of the e-commerce market. With the outbreak of the war, the market experienced a dramatic drop in volume, but from 2023 significant stabilisation processes took place. The importance of further development of the e-commerce market not only during the war, but also to overcome its consequences during the post-war recovery period is determined. Conclusions. Ukrainian e-commerce is experiencing high growth rates. The barriers to entering the online market are relatively low and the benefits of e-commerce for users and entrepreneurs are tangible. However, at the current stage, the Ukrainian e-commerce market has many unresolved issues that hinder its development. If the key issues are effectively addressed, the development of e-commerce in Ukraine will have a future.

Purpose. Today's e-commerce, which is one of the fastest-growing sectors of the economy, poses new challenges for companies in managing the quality of customer service. In the face of increasing competition and changing consumer expectations, high quality order processing is becoming a key factor affecting customer satisfaction and brand loyalty. According to the research thesis, the development of e-commerce is determined by modern development technologies, and the strength of this influence can be measured through consumers' purchasing decisions. The purpose of this article is to identify the determinants of e-commerce development and assess the importance of customer service quality management in a dynamically changing environment. The problem on which the study focused comes down to answering the questions: What features should characterize the company's strategy in the context of customer service and e-commerce market development?; What tools and activities are used by companies in their efforts to improve the quality of customer service within e-commerce chains? Methodology. The article uses a literature review, including monographs, articles, and reports on modern technologies used in e-commerce order handling. The research methods and techniques used included: content analysis, cause-and-effect analysis, and selected qualitative analysis methods, which were used to achieve the study objective. Findings. Effective customer service quality management not only influences a positive shopping experience, but also contributes to building lasting relationships with customers and achieving competitive advantage. Thanks to modern technologies and tools such as artificial intelligence and chatbots, it is possible to offer a faster, more personalised order fulfilment process, leading to higher service standards and optimised e-commerce processes.

From its inception, business-to-consumer (B2C) e-commerce has represented a vehicle for distributing goods and services where numerous forces determined the development of a new market structure. The forces include sets of supplier-related, product-related, and consumer-related factors that have shaped the market development of B2C e-commerce. In this examination of the early days of B2C e-commerce market development, it was found that low value of demonstration, high frequency of returns, high frequency of gift purchase, low purchase frequency, high sensory barrier, low immediate gratification, high value of large selection, and low shopping enjoyment product characteristics were successful in predicting online product category growth. In select data, car rentals, airline tickets, hotel reservations, books, videos, and music captured significant online market share in these early online markets. Many of these categories possess the characteristics that predicted the development of the early B2C markets. The analysis suggests that during the development of e-commerce markets, sets of e-commerce-related factors successfully predicted online product category success.

Purpose: This paper presents a comparative assessment of the development of the ecommerce market in Poland against selected EU countries during 2017-2023.The main aim is to analyse the growth trajectory of the Polish e-commerce sector using the Taxonomic Measure of Development (TMD) and the Model-free Measure of Development (MMD), which allow a comparison of multiple variables between regions.Design/Methodology/Approach: A comprehensive analysis was conducted to identify and analyze the key determinants affecting the development of e-commerce.These determinants include access to digital technologies, economic factors, and the use of the Internet in commercial activities.To construct TMD and MMD indicators, data from Eurostat and the Statista portal were utilized.This analysis enabled the positioning of Poland against other EU countries.Findings: The findings indicate a dynamic development of the Polish e-commerce market from 2017 to 2023, although it still lags behind the leaders in the European Union.The application of taxonomic and model-free methods enabled a comparison of Poland's position with that of other EU countries, thereby identifying areas requiring further support and development.Practical Implications: The article provides practical recommendations for policymakers and businesses, emphasizing pivotal factors influencing the competitiveness of Polish ecommerce within the EU single market.The identification of markets with analogous characteristics facilitates the formulation of strategies to enhance Poland's standing in relation to other nations.Originality/Value: The article introduces a novel approach to the evaluation of e-commerce development in Poland by employing taxonomic and model-free methodologies.It provides a comprehensive set of analytical tools and actionable recommendations.Notably, the implementation of Ward's method facilitates the determination of the domestic market's position in relation to a historical benchmark.

In today's realities, the development of e-business has a positive impact on the world economy, as it accelerates economic growth, reduces inflation, increases productivity and increases employment. Internet commerce is most developed in countries with a high level of readiness for such business (USA, Hong Kong, Singapore, EU countries). The development of e-commerce is based on attracting more and more users to the Internet, so it is not surprising that the share of e-commerce turnover in GDP and the share of e-commerce in retail trade correlates with the level of Internet penetration. Moreover, the growth rate of e-retail will outpace the growth of traditional forms of retail, which will increase the share of online sales in total global retail. The article considers the current trends in the use of digital communications by enterprises, including SEO, paid advertising, content, e-mail communications. It is determined that the share of e-commerce in the country's retail trade naturally increases with the level of Internet penetration and Internet trade, ie the share of buyers of the country who make at least 1 purchase on the Internet during the year. The strategy states the need to adopt a law on online trading, to consider the basic provisions for the operation of online trading platforms and aggregators. The article also identifies and proves that Internet technologies have become widespread and continue to change the processes of customer interaction with the company. The basis of these changes is the emergence of a wide toolkit of Internet communications, which is gradually replacing the traditional channels of communication with customers of the enterprise. The basis of any tool of Internet communications is content: profile articles on the Internet resource, ads for paid search advertising, video content, content in e-mail newsletters or social networks. By analyzing the needs of its potential users, the company tries to provide the most relevant content that would meet their needs. Peculiarities of content perception may manifest themselves differently for different nationalities and segments of the population, so there is a need to study trends.

In recent years, with the rapid development of cross-border e-commerce and the transformation and upgrading of traditional foreign trade of various countries, both China and ASEAN regard cross-border e-commerce as an important content to promote the high-quality development of bilateral trade. The Guangdong-Hong Kong-Macao Greater Bay Area is a key global trade digital pilot area. The official entry into force of the RCEP provides a new environment for the development of cross-border e-commerce between the Greater Bay Area and ASEAN countries. From the background of RCEP framework, this paper analyzes the opportunities and challenges faced by cross-border e-commerce enterprises in the Greater Bay Area and ASEAN. Based on this, it proposes the innovative development path of cross-border e-commerce from the aspects of cross-border logistics system building, cross-border e-commerce talent team building and cross-border e-commerce intellectual property protection. It is aimed to activate the Greater Bay Area commodity trade market, and further promote the development of cross-border e-commerce between the Greater Bay Area and ASEAN countries.

The article examines trends related to the development of e-commerce, which, on the one hand, contributes to the development of entrepreneurship and simplifies consumers' access to necessary goods, but on the other hand, leads to the creation of anti-competitive practices by business entities that own digital platforms (aggregators and marketplaces). The author highlights the recent changes in legislation aimed at ensuring the legal functioning of digital platforms, particularly marketplaces, and provides an analysis of the approaches adopted by the antitrust authority to prevent abuse of dominant positions, cartels, and unfair competition. It is concluded that in the context of the development of e-commerce, which is replacing classic retail, a comprehensive approach to assessing anti-competitive behavior is key, as in one case the offender may be a business entity that owns a digital platform.

The target of the study is to determine the relationship between the availability of information technology, the status of the transport infrastructure and the e-commerce development in the Russian regions. The regional differentiation of the dependence of e-commerce on the capabilities of the transport infrastructure and the level of digitalization in the regions of Russia were revealed by authors. The following quantitative indicators were selected for the analysis: dynamics of the total retail trade turnover, freight turnover of rail and road transport, dynamics of the e-commerce volume, the digitalization level of the Russian Federation population. Noteworthy that all the studied indicators, with the exception of road freight turnover, showed a positive growth trend, which indicates an economic growth in the research field. It has been established that the development of e-commerce is facilitated by high level of digitalization and development of transport infrastructure. In this regard, it is advisable to monitor and adjust indicators reflecting the prospects for the compliance of electronic and transport services with regional needs in order to smooth out regional inequality in the e-commerce development in the constituent entities of the Russian Federation. A statistically direct significant relationship has been proven between cargo turnover and the volume of offline and online retail trade in the Russian Federation, which indicates the need for constant updating of transport systems, vehicles and modernization of existing logistics processes.KeywordsRegionsE-commerceTransportFreight turnoverInfrastructureDifferentiationJEL CodesR01F22F63J15J61O15

In recent years, with the development of e-commerce, Internet financial model continuously develops and flourishes, especially the "financial online"， this pattern develops rapidly. The rapid development of this kind of financial model brought a huge challenge to the traditional banking sector, this challenge greatly influence on state-owned commercial banks. This paper first describes the development of the Internet financial status and third-party payment, such as Internet banking and Internet banking sales of the main characteristics and how to operate. Then by using the SWOT method to analyze the state-owned commercial banks facing in the Internet financial mode of strengths, weaknesses, opportunities and challenges. Finally from enlarging advantages, avoiding disadvantages and traditional bank financial models and new financial aspects put forward the mutual fusion of commercial banks in the context of the Internet financial strategies and prospects for development.

The steady and rather rapid development of e-commerce over the past decade has become one of the most visible changes in society. Today, there are many domestic and foreign online stores in Ukraine, which allows consumers to have a wide choice and find the best price for the right product. Today, e-commerce in Ukraine is quite developed and has a good potential for further growth, solving many problems that were inherent in retail trade, but creating new ones that require attention. The article presents and analyzes the main indicators characterizing the current state of the e-commerce market and draws conclusions. The main problems of domestic e-commerce are identified and characterized. The main problems in our country that slow down the development of Internet business are: not very high paying capacity and living standards, low development of the legislative framework, insufficient level of computer literacy, introduction of innovative payment methods, etc. There are also problems in building and using a high-quality management system, certain elements of the accounting system, documentation and taxation of online stores. The article considers advantages, disadvantages, weaknesses and strengths using the SWOT analysis of Internet business and offers some recommendations for its improvement. Having considered the advantages and disadvantages of e-commerce in our country, the article offers a number of recommendations that will help to increase the level of e-commerce in Ukraine. The main directions of stimulating the development of e-commerce can be considered the harmonization of legal norms, ensuring legal protection of e-commerce entities, removing barriers to the development of international e-business, and building the infrastructure of the e-commerce market. The article will be useful for specialists in the field of Internet marketing, entrepreneurs, economists and scientists engaged in market demand research, teachers and students of higher education institutions.

E-commerce has gained particular importance for the development of small businesses in the past year due to the restrictions imposed due to the spread of the new coronavirus infection. The article provides a review of scientific literature in order to generalize the methodology for defining the concept of “electronic commerce”. The main trends in the field of e-commerce in small business are characterized. The data on the development of the e-commerce market are analyzed and the following is emphasized: in the number of purchases from mobile devices has increased; creation and widespread use of social media pages is a key factor in the development of e-commerce by entrepreneurs. The advantages and disadvantages of using electronic commerce by small businesses are systematized. Conclusions are made about the growth in the volume of transactions using Internet technologies, and about the increase in digitalization of small businesses.

The relevance of the research lies in the fact that the banking sphere functioning in the Internet environment, as well as the digital banking services themselves implemented in it, are undergoing changes in accordance with the introduction of new information and communication technologies. The development of an effective strategy for the development of the digital banking system should be based on theoretical developments and developments, which will allow to choose the best and most effective option for practical application in the functioning of the banking market on the Internet. The purpose of the study was to study the trends in the emergence and development of digital banking services. According to the stated goal, the task of the study is to study the main elements of the banking sphere in the Internet environment, the definition of their features, and the development of proposals on how to improve and enhance the quality and effectiveness of the implementation of electronic banking services. Research methods: general and special methods of knowledge, in particular the analysis of scientific and information base, synthesis of the data obtained into theoretical conclusions and practical recommendations. Results and conclusions of the research: it is predicted that the further development of the Internet banking services market will be determined in accordance with the improvement of information and communication technologies, which will be accompanied by increased competition in the domestic and foreign markets due to the growing role of intelligent services, the development of e-commerce. The results can be used in further scientific research and in the development of methodological recommendations to improve the effectiveness of banking services in the digital environment.

Given the impact of the Internet on all aspects of economic life, it can be regarded as a source of emergence of new electronic economy with an extremely rapid growth, creating new opportunities for Industrial and business activity, increase employment opportunities. Robust economic activity on the Internet or by using its capabilities led to the emergence of a new concept- electronic commerce.

This article is dedicated to studying the problems and prospects in development of financial market of the national economy of the Russian Federation in the conditions of globalization and integration of FinTech technologies. Consideration of potential risks and consequences of their usage in economic activity would contribute to substantiation of the key strategic vectors in development of the financial market and national economy overall. Methodological framework contains positions of the theory of strategic management, financial management, and procedural approach. Peculiarities of determination of the parameters of financial sector development within the framework of scenario forecasting of integration of blockchain technologies into the banking system are revealed using the set of methods of systemic, complex, logical, comparative and economic-mathematical modeling. Based on assessment of the emerging effects caused by integration of distributed data storage technologies into the system operational processes of credit institutions, the author carries out a formalized assessment of development prospects of the banking sector in new institutional conditions of the economy. The theoretical and practical significance of the research consists in substantiation of the need for activation of the processes of integration of blockchain technologies into the financial system of national economy, which allows increasing sustainability and effective development of its participants, as well as ensuring the growth of global economic competitiveness for decades to come. The scientific novelty consists in proposal of an algorithm for assessing macroeconomic effects as a result of integration of blockchain technologies into the banking sector. The author builds the models that assess the impact of operational and credit risks upon the key parameters of financial performance of the banking sector of the Russian Federation.

This paper presents findings from a study of factors affecting the rate of diffusion and adoption of online retailing in Saudi Arabia. In general, Saudi retailers have not responded actively to the global growth of online retailing. Accordingly, this research was conducted to find the key factors involved in this phenomenon. A major finding presented here, is that both buyers and sellers emphasize the need for government involvement to support and promote development of online commerce. Particularly, it indicates the need for strategic government initiatives to provide regulation, legislation, education, and trusted infrastructure for secure payment and delivery. Saudi Arabia presents a unique cultural, technological and political context for the development of e-commerce. We highlight the particular motivators and potential benefits of Saudi government involvement in e-commerce development. A new model for formulating roles and strategic government initiatives to support the successful diffusion of online retailing in KSA is presented and discussed. This will be of interest to any following the development of e-commerce and the information economy in the Arab nations.