author: Denitsa Dimitrova
Trade is the process of exchanging goods and money between a seller and a buyer. This exchange can take place directly or indirectly. E-commerce originated 40 years ago. From day to day, it is growing at maximum speed in the space with new companies, newer technologies and innovations, easy and convenient shopping. Michael Aldrich, an English inventor, innovator and entrepreneur, is credited with developing the forerunner of online shopping.
The idea came in 1979 while out for a walk with his wife and their Labrador when Aldrich complained about his weekly grocery shopping expedition. This conversation spawned an idea that was to connect a TV to their supermarket to deliver food to them. Immediately after the discussion, Aldrich planned and implemented his idea. Between the mid-2000s and 1995, important advances were made in the commercial use of the Internet. The world's largest online retailer by Amazon, launched in XNUMX as an online bookstore. Amazon, as an online store, has been able to offer exponentially more products for the buyer. Another big success story was eBay, an online auction site that debuted in 1995. Other retailers such as Zappos and Victora Secret followed suit with online shopping sites.
Digitalization is entering more and more spheres of life and e-commerce has long been a part of our everyday life. Virtually everything is a click away and we just have to wait for the delivery. And while we're lounging on the couch at home, we have access to countless goods and services. However, we are often deceived by the type and quality of the learned goods. There is also the risk with payment where we have to enter our debit card details if the delivery does not allow cash on delivery. Social contact is also lost, the opportunity to meet someone, talk to a consultant on the spot and choose the best for ourselves. Or not getting an ordered gift on time... because it's Christmas and everyone is shopping online.
Online trading has advantages and disadvantages for both the merchant and the end user. From everything presented so far, I think that the positives are more for the merchant, and the negatives - for the customer.
However, e-commerce is increasingly growing globally. The statistics are particularly telling. In 2020, online sales are over 18 % of all retail sales worldwide. It is expected that in 2024 they will reach 21 %. The pandemic also contributed a lot to this rapid development of online shopping. According to experts, by 2040 e-commerce will account for up to 95 % of all purchases. Again, according to statistics, women and people between the ages of 18 and 34 prefer this type of shopping. However, let us not forget that the advantage of live contact is irreplaceable.
© 2023 Iliana Dechkova