MODERN TRENDS AND PROSPECTS OF E-COMMERCE DEVELOPMENT IN INTERNATIONAL BUSINESS

Keywords: international business, e-commerce, Internet, business digitization

Abstract

The transformation of international business is currently taking place in the direction of digitalization of business operations, the use of new forms of interaction with the use of e-commerce technologies. In the context of the COVID-19 pandemic, these processes have become especially relevant. The aim of the article is to analyze current trends and prospects for the development of e-commerce in international business. The research methodology involved the use of methods of analysis and synthesis, comparative analysis, generalization and a systematic approach. The article considers the forms and stages of e-commerce in international business. The growth rates of e-commerce retail sales are analyzed, the forecast indicators of e-commerce market development are highlighted. The dynamics of sales in the B2B and B2C sectors on the world market in 2014-2020 is considered. The predominance of the B2B sector over the B2C sector in terms of volumes and growth rates of electronic transactions has been established. The largest marketplaces and retail websites in the world in terms of traffic and gross volume of goods are selected. A positive trend in the dynamics of the share of e-commerce in the total volume of retail sales was revealed, the expected rates of average annual growth of the e-commerce market were analyzed. The variability of the share of e-commerce in total retail sales in individual countries under the influence of the coronavirus pandemic has been studied. The advantages and risks of the introduction and spread of e-commerce in international business are outlined. Perspective directions of its development are determined, the inevitability of the transition of international business to innovative forms of e-commerce is substantiated. It is concluded that the development of e-commerce will require the development of a system to prevent and neutralize risks and create an appropriate regulatory framework in this area. The practical significance of the study lies in the analytical assessment of the current state of international business, taking into account the impact of the coronavirus pandemic; in identifying areas for further development of e-commerce in international business.

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Published
2021-07-27
How to Cite
Smolii, L., & Kostiuk, V. (2021). MODERN TRENDS AND PROSPECTS OF E-COMMERCE DEVELOPMENT IN INTERNATIONAL BUSINESS. Economy and Society, (29). https://doi.org/10.32782/2524-0072/2021-29-43
Section
INTERNATIONAL ECONOMIC RELATIONS