Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
How e-commerce has affected the global market
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: How e-commerce has affected the global market
Introduction There is no doubt in the fact that e-commerce has constantly been on the rise within UAE and was been able to grasp the attention of the various consumers over the past few years. Brands like Visa and MasterCard have gained the utmost prominence due to this reason and this does reveal the fact that more than 50% people across the globe shop for various products and services. UAE has always been a very important market for the consumers around the world (Kessler, 2003). Various factors have influenced the growth of UAE over the past few years. UAE is a free port and is rich with oil and gas resources. This has made the country economically strong and has enabled the country to solidify its position in each and every sector. UAE has not limited its business to trade and commerce but has diversified its economic portfolio by opening several shopping malls and outlets and has become an important source of revenue for its citizens and has become a favorite destination for shopping lovers. The Impact of Technology on the Economy of UAE The alternates available for shopping across UAE have been unlimited and one of the main factors which have helped in the growth of shopping across the Middle East giant has been E-commerce. There has been a huge growth of internet shopping across UAE and it does reflect the convenience which has been portrayed by implementing this trend across the region. Constant growth and development of science and technology has helped corporations in deliver products and services online and it helps customers in shopping with just a single click. Prominence of E-commerce in UAE E-commerce has certainly added more spice to the already thriving economy of the UAE. The use of online shopping and credit car... ... middle of paper ... ...Language but such modifications in chosen language will increase the use of E-commerce among traditional traders and consumers Conclusion The major reason behind the fact that why the technology of E-commerce has gained so much popularity in UAE is because it facilitates various businesses to effectively converse with each other for the purpose of carrying out the business transactions with each other, anytime and anywhere. No matter a person lives in UAE or anywhere else in the world, he or she can effectively and successfully carry out his business transactions with another person, easily and swiftly with the assistance of the e-commerce technology. Basically, the e-commerce technology facilitates and empowers the users to eradicate the geophysical barriers, for the purpose of making the clients, customers and businesses as prospective customers and suppliers.
The internet and World Wide Web are extremely well suited for conducting business electronically on a global basic, Web-based Electronic Commerce(EC) has introduced unprecedented opportunities for the marketing of products and services, accompanied by features, functionality and innovative methods to serve and support consumers. E-commerce has became a major catalyst of the economy and remains a vital growth engine for businesses today, It successful change the consumer behavior. Consumer purchases over the Internet continue to grow from year to year. The survey involving interviews with 42,238 people in 37 countries worldwide revealed that almost a quarter of internet users have shopped online and 15% plan to do so during the next six month. This represents an opportunity for FedEx as a provider of small-package delivery service.
The United Arab Emirates (U.A.E) is a federation of seven Emirates that was formed on December 2 1971. It is located between the Arabian Gulf and the Gulf of Oman and it is bordered by Saudi Arabia and Oman. The country has a total population of 3,740,000 as of 2004. Approximately 85% of those resideing the in UAE are not native to the country. Arabic is the official language, however, English is widely considered the official "business" language. Communication should not be a problem for English speaking people. The Muslim faith is practiced by the majority of people, but there are a significant number of Christians and Hindus. Islam does not play an important role in business practices. The business culture more closely resembles the culture found in America or Great Britain.
In 2012, India contributed 5.8% of total foreign direct investment in the UAE, making them the second top foreign investor (“United Arab Emirates”). Additionally, Indians are one of the UAE’s top investors in real estate. In 2015, Indians invested 18.12 billion dirhams in UAE real estate (“What Makes Indian”). Foreign direct investments in the UAE have played a vital role in keeping the economy stable in times of market fluctuations. Consequently, GDP rose 4.6% in 2014 (John “UAE Draws”). Although it is hard to say how much of this GDP increase is directly due to India or Indian immigrants, we can infer that they caused a large portion of it since they are the second top foreign investor in the
Based on these concerns, retailers in the international marketplace have their work cut out for them. But through proper education of consumers, and the ever-expanding growth of the infrastructure in many countries, the future seems to be leaning heavily towards using the Internet for many needs.
Electronic Commerce is changing the way business is conducted today. Singapore has positioned itself to become a major part of the E-business trend. Developing technology, government support, and growing internet awareness make Singapore an ideal environment in which E-commerce can thrive. Lee Yock Suan sums up Singapore's E-commerce environment by saying ,"We want to be plugged into this global development, and position Singapore as an international E-commerce hub."
E-commerce, a system by which people can buy, sell and deal without even seeing the person on the other side, has taken a front seat in improving the economy of countries around the world. Technology today has made it possible for monetary institutions to help locate the customers resources and help solve their problems at any given time through online banking.... ... middle of paper ... ...
One of the fundamental factors that has affected the process of economic globalization is the improvements in the technology of transportation and communications. This has reduced the costs of transporting goods, services, and factors of production and of communicating economically useful knowledge and technology. There is no doubt that advances in information and communications technology are the most important technological advances of the past quarter century (Mussa, 2000). By far, the most important and business altering advancement is the internet. There is evidence everywhere that the internet has greatly affected international trade. The internet has opened up the world, and brought it right into everyone's home and business. In addition, technology and the internet have greatly reduced the costs of doing business. Even the smallest operation can now go global via the internet at almost no cost. However, there are still some problems that face these e-commerce activities. These problems are shot-term challenges and can be met. The key issues center around two areas:
The main aspect of ICT adoption in Saudi Arabia has been online service provision such as e-learning and e-trade. Through providing services online, organizations have been able to reach out to a wider market, specifically the international market. The internet has been able to break down geographical barriers that in the past hindered trade and interaction between and among countries from different geographic regions. Secondly, online services have enabled organizations cut operational cost significantly and thus enhance the financial performance of such organizations. In addition, the internet has enhanced communication between organizations and their customers, irrespective of their location and in real time (Al-Gahtani, Hubona, & Wang, 2007)
The Internet is rapidly becoming widespread and widely used as a tool for globalization across the world. As the Internet became more easily accessible by most people in the world, the web is bringing significant implications and changes to the way we live, including the way we shop. There is a rapid growth with e-commerce and moving businesses onto the web and retail success is no longer about stores and shopping centers. In developed countries, about two thirds of the population have access to the Internet making the option of online shopping is easily accessible to most people (Valerio). With the ease of shopping in your own home there are many benefits of doing your shopping online. Consumers can easily compare prices online, there is a larger range of products on the web, you can save time by having your shopping delivered right to your doorstep and it also overcomes physical barriers. Over the last decade online shopping has challenged and replaced the traditional means of physically going into shops as the digital world has provided customers with further convenience, flexibility and comfort from shopping from your own home.
The Information revolution is changing our daily lives. With the rapid development of computer and internet, online commerce become quite common and plays an important role in the modern world. The online business has booming development in these few years. US online retail sales raised an average of 11% in the first three months of 2009 (“US Online Sales Up,” 2009). The growth of online sales may due to the growing number of consumers who shop online. In the case of Asia, survey reported 77.6% of Internet users have online shopping experiences in 2003 (as cited in To, Liao & Lin, 2007). Online shopping is very different from traditional shopping. Consumers cannot touch and check the product before purchasing it, which means they are at higher risk of fraud than traditional shopping. Consumers also have other concerns such as credit cards security of online shopping. Then questions should be raised: what is the advantage of online shopping? Why people shop online? In following paragraphs, the advantage of online shopping for the consumer and consumer’s motivation to shop online will be reviewed and discussed.
In today’s era “INTERNET” is playing a significant role in our daily life. People can walk through the internet to one who is actually living on the different side of the planet, can send mails round the clock, search information & even buy things online. With this invention of internet there is a shift in traditional way of shopping. Now there is no need to open a physical store. One can be active at any time and place and purchase products and services. The number of users of internet is increasing day by day which means that online shopping is increasing. Various characteristics of online shopping is making it more convenient for the customers, as compared to traditional way of shopping such as the ability to view and purchase goods and
Electronic Commerce as popularly as E-commerce has become a big deal in our growing economy due to the increase use of online systems. E-commerce now of the fastest growing business in the world. The technology has change the way of business. Business that have physical location have now made it an effort to focus their online business. It is the new sort of business platform where you can make use of different technologies like electronic data interchange or transfer document electronically. Online business is an effective of sales.
The report also talks about the differences between, advantages and disadvantages of e-business and e-commerce. Recommendations and advice have been given in the end for businesses intending to adopt an e-business dimension.
In conclusion, e-commerce makes our life much more easier, because it saves time, we can get our goods with in a short period of time, other than that it connects to businesses around the world, we can buy goods that we can’t get from the local market. The last thing we also can get goods that are not available in the shopping mall and with the cheaper price. As I know, using e-commerce to shop online is the right choice for because it is so convenient.
E-commerce is the buying and selling of goods and services using the internet. It is facilitated through online shopping, online marketplaces, or electronic data exchange. It can also be described as a market where buyers and sellers transact via internet and payment is made through E-credit. Although traditional business is also present and highly used in the world, the e-commerce is rapidly becoming popular forcing traditional business to go online.