The growth of the e-commerce business in developed countries continues to increase rapidly, especially in today's digital era where consumers make more purchases online. The following are several factors that influence the growth of e-commerce businesses in developed countries:
Easy and wide internet access: Developed countries have easy and wide internet access, with internet coverage that is almost evenly distributed throughout the country. This allows consumers to easily access e-commerce platforms and make purchases online.
Technological development and innovation: Technology continues to develop rapidly in developed countries, including technology that supports e-commerce businesses such as online payments, logistics and data security. Constantly emerging innovations also make e-commerce platforms easier to use and more efficient.
Increasing consumer needs: Consumers in developed countries increasingly want ease and convenience when making purchases, which makes them turn to e-commerce platforms. In addition, the COVID-19 pandemic has made consumers more likely to choose online shopping to avoid excessive physical contact.
Regulations that support e-commerce businesses: Developed countries have regulations that support e-commerce businesses, such as consumer protection and regulations on data protection. This makes consumers feel more secure and comfortable when making purchases online.
With the factors above, the growth of the e-commerce business in developed countries is predicted to continue to increase in the future. This opens up great opportunities for business people to develop their business online and reach a wider market.
In addition to the factors above, there are also several business strategies used by e-commerce companies to expand their market share in developed countries: