BENEFITS OF E-COMMERCE IN DEVELOPING COUNTRIES

Abstract

This article considers the features of the development of the global electronic business. The current state and dynamics of e-business development in various countries are analyzed. Information technologies are developing rapidly, so the Internet is becoming more and more important both in private life and in business. E-commerce (electronic commerce) is the electronic purchase or sale of goods through online services or via the Internet. The development of e-commerce is rapid, and most of the largest companies are starting to use e-commerce along with traditional offline. There are more than a dozen different e-commerce business models today. Over the past few years, e-commerce has become an integral part of the global retail system. Like many other industries, retailing has undergone significant changes since the advent of the Internet, and thanks to the ongoing digital transformation of modern life, consumers in almost every country now benefit from online transactions.The article also reveals the essence, subjects and forms of e-commerce, formulates and characterizes the main advantages and disadvantages of e-commerce in Ukraine. The modern period of the development of the national economy is characterized by increased competition between subjects of commercial activity, which necessitates the need for prompt response to changes in the market of goods and services and the rapid and efficient implementation of commercial transactions. Forms of doing business are changing significantly. Along with traditional enterprises and firms, more and more enterprises are appearing on the market, which are engaged in so-called electronic commerce. The essence of the concept of "electronic commerce" is defined here. The historical stages of the development of e-commerce in the market are given. The benefits of e-commerce from the standpoint of various stakeholder groups have been identified. The main trends in the development of e-commerce in developing countries, as well as in Ukraine, are analyzed. The risks that may cause the development of electronic commerce have been identified and substantiated. It has been proven that the benefits of the development of e-commerce are much more significant than its disadvantages. Potential risks in conducting e-business can be reduced by implementing reliable means of electronic security of transactions, solving the problems of regulatory and legal regulation of this area at the state level.