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E-COMMERCE: BASIC TREND IN FORMING THE ECONOMIC
LANDSCAPE
Kanjayev Sherzod Nurlayevich
Graduate student of Nurafshon branch of Tashkent university of information
technologies named after Muhammad al-Khwarizmi
sherzodland@gmail.com
Abstract:
In the dynamic landscape of the modern economy, one phenomenon
stands out as a clear harbinger of the digital revolution – E-commerce. The surge of
online commerce has transcended mere consumer convenience; it has become the
prime indicator of a profound shift, signaling the widespread embrace of digital
transformation across industries.
The article describes the definition of e-commerce,
discusses the active implementation of e-commerce and digital platforms as a new
way of organizing online retail platforms, and e-commerce ecosystems. Advantages
and opportunities related to e-commerce activities are considered as examples of
global indicators.
Key words: e-commerce, digital economy, digital platform, online retail, digital
transformation, digital security, artificial intelligence.
ЭЛЕКТРОННАЯ КОММЕРЦИЯ: ОСНОВНОЙ ТРЕНД
ФОРМИРОВАНИЯ ЭКОНОМИЧЕСКОГО ЛАНДШАФТА
Канжаев Шерзод Нурлаевич
Магистрант Нурафшонского филиала Ташкентского университета
информационных технологий имени Мухаммада аль-Хорезми
sherzodland@gmail.com
Аннотация:
В динамичном ландшафте современной экономики одно
явление выделяется как явный фактор цифровой революции – электронная
коммерция. Рост онлайн-коммерции вышел за рамки простого удобства
потребителей;
он
стал
главным
индикатором
глубоких
перемен,
свидетельствующих о широком охвате цифровой трансформации во всех
отраслях. В статье описывается определение электронной коммерции,
обсуждается активное внедрение электронной коммерции и цифровых
платформ как нового способа организации онлайн-торговых платформ, а также
экосистем электронной коммерции. Преимущества и возможности, связанные с
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деятельностью электронной коммерции, рассматриваются в качестве примеров
глобальных показателей.
Ключевые слова: электронная коммерция, цифровая экономика,
цифровая платформа, онлайн-коммерция, цифровая трансформация, цифровая
безопасность, искусственный интеллект.
ELEKTRON TIJORAT: IQTISODIY LANDSHAFTNI
SHAKLLANTIRISHDAGI ASOSIY TREND
Kanjayev Sherzod
Muhammad al-Xorazmiy nomidagi Toshkent axborot texnologiyalari universiteti
Nurafshon filiali magistranti
sherzodland@gmail.com
Annotatsiya:
Zamonaviy iqtisodiyotning oʻzgaruvchan landshaftida bir hodisa
raqamli inqilobning asosiy faktor sifatida ajralib turadi - elektron tijorat. Onlayn
tijoratning oʻsishi iste’molchi uchun shunchaki qulaylikdan oshib oʻtdi; bu chuqur
oʻzgarishlarning asosiy koʻrsatkichiga aylandi, sanoat boʻylab raqamli
transformatsiyaning keng qoʻllanilishidan dalolat beradi. Maqolada elektron
tijoratning ta’rifi tasvirlangan, elektron tijorat va raqamli platformalarni onlayn
chakana savdo maydonchalarini tashkil etishning yangi usuli sifatida faol joriy etish
va elektron tijorat ekotizimlari muhokama qilinadi. Elektron tijorat faoliyati bilan
bogʻliq afzalliklar va imkoniyatlar global koʻrsatkichlari misol sifatida koʻrib
chiqiladi.
Kalit so‘zlar: elektron tijorat, raqamli iqtisodiyot, raqamli platforma, onlayn
chakana savdo, raqamli transformatsiya, raqamli xavfsizlik, sun’iy intellect.
Introduction
In the era of rapid technological advancement, the digitalization of the
economy has become synonymous with the transformative force of e-commerce. As
consumers increasingly turn to online platforms for their shopping needs, e-
commerce has emerged as the primary indicator and driving force behind the digital
evolution of the economy. E-commerce, short for electronic commerce, refers to the
buying and selling of goods and services over the internet. What began as a novel
concept a few decades ago has rapidly evolved into a cornerstone of the modern
nominal system. This thesis explores the pivotal role of e-commerce in shaping the
contemporary economic landscape, redefining consumer behavior, and catalyzing the
broader process of digital transformation [1] (Picture 1).
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Picture 1. Shopping e-commerce infographic [2]
The rise of e-commerce can be traced back to the advent of the internet, with
pioneers like Amazon and eBay paving the way for a new era of digital retail. As
technology continued to advance, the convenience, accessibility, and efficiency
offered by online shopping became increasingly attractive to consumers. Today, e-
commerce encompasses a diverse range of platforms, from global giants to small
businesses, all contributing to the reshaping of the traditional retail landscape [3].
The prevalence of e-commerce has fundamentally altered the way consumers
interact with businesses. The convenience of making purchases from the comfort of
one's home, the ability to compare prices and products effortlessly, and the seamless
integration of secure payment methods have all played crucial roles in shaping
consumer preferences. E-commerce has not only expanded the reach of businesses
but has also empowered consumers with greater choice and control over their
shopping experiences (Picture 2).
Picture 2. Order fulfillment process [4]
E-commerce is not confined to the realm of retail alone. Its influence extends
across various industries, fostering digitalization and innovation. Traditional brick-
and-mortar businesses are compelled to embrace digital strategies to remain
competitive, leading to the integration of online platforms, mobile apps, and data
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“RAQAMLI IQTISODIYOT” ILMIY
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analytics into their operations. Automation and real-time data analytics have
revolutionized supply chain management in the e-commerce sector. From inventory
management to order fulfillment, businesses can optimize processes, reduce costs,
and improve overall efficiency.
This digital transformation is evident in sectors
ranging from finance and healthcare to entertainment and services [5].
The ubiquity of smartphones, coupled with advancements in artificial
intelligence (AI) and big data analytics, has played a pivotal role in the continued
growth of e-commerce. Mobile devices have become a primary gateway for
consumers to access online shopping platforms, while AI algorithms enhance
personalized recommendations, and big data analytics provide insights into consumer
behavior. Consumers can now shop on-the-go, leading to an unprecedented surge in
mobile app development and mobile-friendly e-commerce platforms.
This, in turn,
facilitates personalized recommendations, targeted marketing, and an overall
enhanced shopping experience. The synergy of these technologies amplifies the
impact of e-commerce on the broader digital economy.
E-commerce has transcended geographical boundaries, enabling businesses to
engage in cross-border trade with unprecedented ease. Digital platforms facilitate
transactions between buyers and sellers worldwide, fostering a global marketplace
where businesses can tap into international consumer bases. This interconnectedness
not only expands opportunities for businesses but also contributes to the globalization
of the digital economy. Social media platforms have become integral to e-commerce
strategies. Businesses leverage social networks for marketing, customer engagement,
and even direct sales, blurring the lines between social interactions and online
shopping [6].
While e-commerce brings forth numerous opportunities for businesses and
consumers alike, it also presents challenges, including cybersecurity concerns, data
privacy issues, and the need for regulatory frameworks. Businesses must navigate
these challenges to ensure the trust and confidence of digital consumers. However,
overcoming these hurdles presents an opportunity for continued innovation and the
development of secure, ethical, and sustainable digital practices. The digital
transformation in e-commerce has given rise to diverse and secure payment options.
Cryptocurrencies, mobile wallets, and digital payment platforms offer consumers and
businesses alike convenient and secure ways to conduct transactions.
The impact of e-commerce on the economy is multifaceted, contributing to job
creation, economic growth, and increased productivity. As businesses adapt to digital
transformation, they generate new employment opportunities in areas such as
technology, logistics, and digital marketing. Moreover, the convenience and
accessibility offered by e-commerce stimulate consumer spending, driving economic
activity on a global scale [7].
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“RAQAMLI IQTISODIYOT” ILMIY
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Analysis and results
E-commerce is currently one of the most profitable industries. Costs are
relatively low as e-commerce businesses require fewer staff members and they do not
necessarily require a physical location — creating endless opportunities for many
entrepreneurs. As a result of the shift towards online retail during 2020 and 2021,
retail e-commerce sales are expected to continue to increase by double digits over the
next couple of years. Estimated by eMarketer, worldwide retail e-commerce will
grow from €2.96 trillion in 2019 to €6.54 trillion by 2025 — increasing its market
share from 13.9% to 22.3% during the forecast period. Consumer demand is one of
the main reasons e-commerce is booming. With 59% of the world having access to
the internet, online shopping is often the more convenient option. With the ongoing
digitalization of modern life, the retail landscape has undergone quite a
transformation over the last few years, making e-commerce an essential part of the
global industry. As a result, both e-commerce and the mobile robot market are seeing
rapid growth. Despite the global economic uncertainty at the moment, e-commerce
statistics project that the industry will keep growing and account for 22.3% of all
retail sales worldwide in 2023 - compared to the 13.9% back in 2019 [8] (Picture 3).
Picture 3. Retail e-commerce sales from 2019 to 2025 (in trillion of euros) [9]
Conclusion
E-commerce stands as the primary indicator of the digitalization of the
economy, reflecting the profound shift in consumer behavior and business practices.
Its influence extends beyond the retail sector, permeating various industries and
driving a broader process of digital transformation. Its evolution from a novel concept
to a driving force of economic change underscores the adaptability of businesses and
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“RAQAMLI IQTISODIYOT” ILMIY
-ELEKTRON JURNALI | 5-SON
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consumers in the face of technological progress. As e-commerce continues to shape
the way we buy and sell, its impact on businesses, job markets, and economic growth
will remain a focal point in discussions surrounding the future of the digital economy.
Embracing and harnessing the power of e-commerce is not merely an option but a
strategic imperative for businesses seeking sustained success in the digital age. As
technology continues to advance, and as businesses adapt to the demands of the
digital age, the impact of e-commerce on the economy is poised to deepen, marking a
transformative chapter in the ongoing evolution of our interconnected, digital world.
References
1.
Asad Shamim. The transformative Power of E-commerce: Revolutionizing
Retail, August 2023
2.
Музаффар Аъзамов
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E-commerce: внедрять ли зарубежный опыт.
Декабрь 2022
3.
Marijana Kay. Learning from the online retail giants: Amazon and eBay.
July 2018
4.
Adam Roger. Process of E-commerce business. December 2019
5.
Accenture.com - Understand digital transformation and how our insights can
help drive business value. January 2022
6.
Boston Consulting Group explores e-commerce trends from the start of the
pandemic to today. October 2023
7.
Brandshark.com - What is The Impact of E-commerce on Business?
November 2022
8.
Michelle Schlechtriem. 30 Mind-blowing E-commerce Statistics. February
2022
9.
eMarketer Retail E-commerce sales in 2022 and predictions for 2025. 2022
