Economy Online Shopping

Online Shopping and Economy

Online shopping is a part of e-commerce. Online shops allow customers to search the required product directly without an intermediate.  It is a usual practice of the young community to purchase products on line. The e-commerce has immense potential. The e-commerce brings convenience and better price to the customers. It encourages faster financial development. In countries have vast geography, e-commerce helps to reach every corner with the help of internet?

One of the impotent impacts of this is on retailing. While online shopping sites handle major part of retailing the traditional and other traders carry only one tenth of the total sales. The digital firms in e-commerce play a vital role in our economy.

Investors have been funding in e-commerce sector largely since it is a fast growing trading activity. Now with the modern technology in mobile phones, tablets and computers anybody can access the vast number of product available on internet. Global e-commerce giants accelerated the competition. Even if the online market is growing rapidly, it is still unexplored in terms of shopping practice. There is increasing number of on line vendors they are competing to give maximum customer focused services and bettering their delivery services to even remote parts.

However, the buying habits and the consumption pattern in the developing countries have a considerable gap. A detailed study on this is required to accelerate the growth. Now online shops gave a platform for the small traders or manufacturers to sell their products in the vast platform of online trading. Here the consumers are surely benefited since the choice is increased. The indirect beneficiaries of on line trading are courier, parcel service sector, online pay wallets etc.. As whole it has considerable contribution in a country’s GDP. The world economy is getting huge benefits from this online industry.

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