EFFECTS OF E-COMMERCE ON ECONOMY | ECONOMIC IMPACTS OF E-COMMERCE

In modern time, the platform of e-commerce is very helpful to promote a business. E-commerce is also helpful for the economic growth because every country wants growth in their economy. There are some good effects of e-commerce or economic  impact of e-commerce is given below:

INCREASE GDP:

E-commerce helps in increasing GDP. GDP refers to the gross domestic products. It is the final value of goods and services produced within the geographical boundary of a specific area of a country during a particular period of time. Trade, import or export etc are the various factors which are considered as the increasing of GDP. E-commerce has the all these factors which are very effective for increasing the GDP of any economy or country.

ECONOMIC MODERNISATION: 

E-commerce also driving business transformation and economic modernization because of its various payment methods. ATM, debit cards and credit cards used as the payment of e-commerce which is helpful for increasing the modernization in the economy of the country.

CREATION  OF EMPLOYMENT:

All e-commerce companies giving the work to many workers or employees. it is very helpful to end the unemployment and generating the many employment opportunities in a particular country.

PROMOTION OF INDUSTRIES:

Many industrial brands are the part of e-commerce. So many companies selling their products or services online through the e-commerce platform. Both large scales, as well as small-scale industries, have involved the e-commerce. So e-commerce is the very easy way to promote all kind of industries.

GLOBALIZATION:

Globalisation is increase through the help of e-commerce because companies and customers directly sell and purchase their products and services. Customers, companies or many government agencies interact with each other due to the advanced technology of e-commerce.

FOREIGN TRADE:

E-commerce is acting as the medium of foreign trade. Any industry can do import or export of goods from one country to another country. Exchange of goods, services international borders are helpful to increase the GDP of any country. E-commerce is a very effective way to promote the all domestic product to another country.

ENCOURAGES ENTREPRENEURSHIP:

There is soo many profits and new working opportunities part of the e-commerce. It is very beneficial for encourage the people to start thier own business. Various companies are started after the e-commerce is starting because it is a very effective way to promote a particular business. With more entrepreneurship, the local economy is good for any country.

LOWER TRANSACTION COSTS:

With the e-commerce, thier is no more transition cost is made because no broker or agent involved in it. All customers purchase their need related products online and various companies sell thier product online. Neither customers nor seller pays any cost to the third party to buy or sell their products. Both parties direct link with each other.

PROMOTION OF RURAL AREAS:

All e-commerce companies giving thier services in urban areas and also in the rural areas as well. Rural areas can also get the all kind of products at home through the e-commerce. So e-commerce is also a useful tool for the promotion of rural areas.

OTHER BENEFITS:

There are soo many economic impacts of e-commerce are the helpful to the growth of any country. It promotes the comprehensive growth, facilitates productivity in countries, influence demand pattern and as well as it is very helpful for facilitates agriculture sector of the economy.

 

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