E-commerce Gadgets: Shaping Online Shopping

E-commerce Gadgets: Shaping Online Shopping – In the years to come, we will look back on 2020 as the moment that changed everything. Nowhere else is experiencing such unprecedented and unexpected growth as in the digital and e-commerce sectors, which have grown rapidly in the midst of the COVID-19 crisis.

As curfews become the new normal, businesses and consumers are increasingly “going digital”, providing and buying more goods and services online, increasing e-commerce’s share of global retail trade from 14% in 2019 to around 17% in 2020.

E-commerce Gadgets: Shaping Online Shopping

These and other findings are showcased in a new report, COVID-19 and E-Trade: A Global Study, by and eTrade for all partners, reflecting the powerful global and regional industry transformation recorded throughout 2020.

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At an event to release the report, UN General Assembly President Volkan Bozkir said the trend towards e-commerce is likely to continue throughout the recovery from COVID-19.

“We need to recognize the challenges and take steps to support the government and the people as they continue to accept new ways of working,” he said.

Acting Secretary-General Isabelle Durant said: “Businesses and consumers being able to ‘go digital’ have helped mitigate the economic downturn caused by the pandemic.”

“But they have also accelerated the digital transition that will have a lasting impact on society and our daily lives – for which not everyone is ready,” he said, adding: “Developing countries should not only be consumers but also active players and therefore producers of the digital economy .”

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The findings show strong e-commerce uptake across regions, with consumers in emerging economies making the biggest shift to online shopping.

Latin American online marketplace Mercado Libre, for example, sold twice as many items per day in the second quarter of 2020 compared to the same period the previous year. And African e-commerce platform Jumia reported a 50% jump in transactions over the first six months of 2020.

The share of China’s online retail sales increased from 19.4% to 24.6% between August 2019 and August 2020. In Kazakhstan, the share of online retail sales increased from 5% in 2019 to 9.4% in 2020.

The trend toward e-commerce adoption seen in 2020 is likely to continue during the recovery, the report said.

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But in many of the world’s least developed countries, consumers and businesses are not taking advantage of the e-commerce opportunities caused by the pandemic because of persistent barriers.

These include expensive broadband services, over-reliance on cash, lack of consumer trust, poor digital skills among the population and limited government attention to e-commerce.

“Countries that harness the potential of e-commerce will be better placed to benefit from global markets for their goods and services in this digitized economy, while those that fail to do so risk falling further behind,” said Shamika N. Sirimanne, ‘ director of technology and logistics.

One of the challenges, the report said, is that the outbreak has mostly benefited the world’s leading digital platforms.

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Many of the solutions used for e-commerce, telecommuting and cloud computing are provided by a small number of large companies, mainly based in China and the United States.

Smaller players may have gained deeper positions, but their market presence is still dwarfed by the digital giants, which could strengthen their leading role during the pandemic.

“The risk is that the huge digital divide that already exists between and within countries will only worsen after the pandemic,” said Torbjörn Fredriksson, head of the digital economy.

“The result is deepening inequality that threatens to derail progress on the UN’s Sustainable Development Goals,” he added.

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Most governments are prioritizing short-term responses to the epidemic, but some have also begun to address the long-term strategic needs for recovery. Some governments in developing countries have intervened to protect businesses and individual incomes.

In Latin America and the Caribbean, for example, the government of Costa Rica started a platform for businesses without an online presence, and smartphone applications and text services to facilitate trade among producers of agricultural products, meat and fish.

In Africa, Senegal is running an information, education and awareness campaign about the benefits of e-commerce across all segments of the population.

In Asia, Indonesia launched a capacity building program to accelerate digitization and digitization among micro, small and medium enterprises.

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The report outlines the actions three stakeholder groups need to take to ensure more inclusive benefits from e-commerce.

It said the government needs to prioritize national digital readiness so that more local businesses can become producers in the digital economy, not just consumers.

According to the report, building an enabling e-commerce ecosystem requires changes in public policy and business practices to improve digital and trade infrastructure, facilitate digital payments and create an appropriate legal and regulatory framework for online transactions and security.

This requires faster digitization for smaller businesses and more attention to digital entrepreneurship, including re-skilling, especially women.

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Countries also need better capabilities to capture and leverage data, and stronger regulatory frameworks to create and capture value in the digital economy, the report said.

Finally, the international community needs to find new, bold and smart ways to work with governments and the private sector to take advantage of these opportunities.

“The digital divide, which was evident long before COVID-19, is a challenge that can be eliminated through our collective efforts and international support,” added Mr. Bozkir. “E-commerce offers great potential across the SDGs. Therefore, efforts must be made to take advantage of this rapidly developing tool.”

To support UN-wide work on the topic, Mr. Bozkir announced a one-day high-level thematic debate on digital cooperation and connectivity on 27 April 2021.

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This will provide a platform for declarations of intent and high-level political support, and frank exchanges between UN entities, technology leaders, constituents and stakeholders, to build momentum and mobilize the international community to strengthen existing multilateral initiatives and partnerships, and support. creation of additional partnerships to accelerate implementation..

The eTrade for all initiative, currently funded by the Netherlands, Germany and Estonia, is a platform to do so.

Over the past four years, the initiative has served as a global help desk for developing countries to bridge the knowledge gap on e-commerce information and resources, and catalyze sharing among its partners.

Since the outbreak of the pandemic, more than 30 eTrade for all partners have worked together to raise awareness of the opportunities and risks of e-commerce that emerge during the crisis.

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They have also identified ways in which businesses in developing and underdeveloped countries can overcome these challenges.

The COVID-19 repository launched in fall 2020 and the new e-commerce and COVID-19 reports are the initiative’s latest collective efforts to build a sustainable digital future. content is free. When you purchase through a link on our site, we may earn an affiliate commission. Learn More

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