Ecommerce Industry

The Effect Of Ecommerce Industry On Business

Ecommerce Industry

The ecommerce industry is a growth industry that is accelerating in response to the migration of offline businesses onto the internet. As internet access levels improve on a worldwide basis, the business landscape is being reshaped by sociological and consumer trends which emerge in response to this new form of social interaction. Many industries that have their root origins in bricks and mortar are now expanding their virtual presence and changing the way they do business. This has ramifications for existing industries and for new industries that are developing in response to the need for support services and infrastructure to cater to this shift. What are some of the changes taking place due to the emergence of ecommerce industry? This article examines how ecommerce is affecting the business world.

One area where ecommerce industry is changing the business landscape is in the banking industry. Online bill payment, direct deposits, and the transference of money online are being actively encouraged by institutions that have invested heavily in infrastructure to support the process. As more and more people do banking online, this reduces the need for offline support staff. Shrinking bank queues and skeleton branch staff is now common place in the banking industry. This same process is occurring with utility companies that provide the option to pay your bills online. This is a win/win situation for both business and the consumer. Labor costs for support personnel are reduced and the consumer saves time by not having to drive to the utility companies place of business and wait in line to process the bill payment.

Ecommerce Industry

Ecommerce industry support services are a natural consequence of the growing demand for skilled personnel to provide the required infrastructure and business solutions. Web developers, designers, web development companies, online security solutions, web hosting companies, and online payment providers form the backbone of the internet industry. The growth of demand drives new business initiatives, new companies and provides job growth for the economy. Educational institutions are now providing courses that offer the necessary knowledge base to participants who wish to undertake a career in the ecommerce industry. The dimensional shift in the way organizations do business is expected to continue into the future with new technology contributing to the continuation of this process.

With the growth in ecommerce sales projected to run at 20-25% per annum, the growth in e commerce industry is set to continue. 78% of US adults now access the internet on a daily basis followed closely by China. This will continue the drive for new technologies, processes and ways to do business in the online landscape.

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