ECOMMERCE is transcending conventional trade and retail by reaching out to consumers not only in their homes but also across borders. It provides vast opportunities and geographic reach to both established businesses and new enterprises. On a macro level, ecommerce is reshaping global trade.
The Covid-19 pandemic has accelerated the adoption of ecommerce and digital transformation. Consumers have resorted to ecommerce to meet their shopping needs. As a result, ecommerce has become an important factor in domestic markets – supply and distribution of goods and services increasingly revolve around ecommerce. This is seen particularly in the rise of the gig economy – ehailing and delivery services have benefited greatly despite business closures and rising unemployment. Businesses that adopted ecommerce are also better equipped to mitigate the impact of lockdown.
