The impact of  e-commerce on business

E-commerce has affected every sector of the economy, especially finance, retail, communications and business service

Innovations promoting  e-commerce include electronic catalogs and search engines for finding information

The rise of online shopping is fueling the new economy and spurring innovation by merchant

The trend is being driven by technological advances, social media and a desire for convenience on the part of consumer

However, only 10% of e-commerce companies are using word-of-mouth advertising on social media platform

Consumers are also becoming more comfortable buying things online as they become more familiar with the process

This indicates that the use of e-commerce can significantly boost the country’s economy

Some researchers study the impact of e-commerce on economic development in terms of both magnitude and speed