Economy – Imagemakeover

Ecommerce has given a new dimension to economic growth and added more value to business and customers. I believe after the Industrial revolution the biggest development seen in the business world is the emergence of e-commerce which will revolutionize economic growth. The world is witnessing a digital revolution involving the internet and the use of websites all around the world has set the stage for e-commerce. Essentially this new economy is the digital economy that offers the most important facilities, the capacity to make transactions beyond the border, time, and space.

Ecommerce has enormous growth potential and is going to be the driving force of economic development. It is important to understand the true potential of e-commerce if we want to see structural change in our economy. Ecommerce has been there for the last two decades in some other form, be it fax, telephone, Tv, Electronic payment, electronic data interchange, money transfer system, etc. But the spread of the Internet has become the new forcer popularizing it. The internet provides access twenty-four hours a day, seven days a week, anytime anywhere. Therefore, time and place are no longer a constraint.
Though E-commerce is built on the traditional business structure but offers the flexibility of electronic networks that led to improvement in operations and as a result substantial cost saving as well as increasing competitiveness and efficiency through redesigning of traditional business.

Recently we have witnessed many countries attaining a higher level of development. The reason behind this massive development is E-commerce, as it has given a new dimension to economic growth thereby creating a conducive environment for further development.