E-commerce: the new way to buy

In the mid-90s, the impulse of electronic commerce (or e-commerce) began with the massification of computers and the Internet. Sales of goods and services were made through web pages and were canceled with credit cards.

This new way of buying transforms the traditional shopping model because buyers no longer go to physical stores in search of their products, thanks to technological devices and the internet they can see the products, check prices and execute the purchase.

Starting in the 21st century and with the rise of “social networks and new payment platforms: Apps on smartphones, electronic transfers, mobile payment, among others”, electronic commerce spreads throughout the world. Amazon became the first global company to apply and develop electronic commerce with the sale of books, then it diversified to offer all kinds of products.

Currently there are thousands of companies of different sizes that offer their services through electronic commerce. The United States ranks first with 20% of world sales, followed by China and Japan.

During 2020, sales through electronic commerce registered a growth of the order of 27.6% as a result of restrictive measures as a result of the pandemic caused by Covid-19.

Electronic commerce increases in Latin America

Mercado Libre is the leading company in this sector in Latin America, it is a company of Argentine origin and for the second quarter of this 2021 it registered a net profit in the order of 68MM dollars.

Electronic commerce registered a growth of around 36.7 % in the region and according to the company Statista Digital Market Outlook, sales of over 80,500 million dollars are estimated by the end of the year.

The firm estimates a growth in the sector for 2021 and 2025, with Brazil and Mexico being the main countries with the highest sales in the region, but it will be Argentina that registered the highest growth with approximately 59 %.

E-commerce accelerates in Venezuela

The pandemic, as in the rest of the world, impacted the growth of electronic commerce in Venezuela because it has forced sellers to migrate to technology to be able to stay in the market

The Venezuelan Chamber of Electronic Commerce (Cavecom-e), indicated that during 2021 the sector will register an increase equivalent to 2,000 %, despite limitations in internet access, connection speed and connection instability “no it has prevented the transformation of the commercial dynamics in the country”. It is estimated that electronic commerce in Venezuela will continue to grow until it can adapt to the different business models that predominate in the world.

M. Rodríguez

Source: Finanzasdigital.com