How E-Commerce is Transforming the Global Economy

Global Economy
Flat isometric vector illustration, Man controlling factory with iot

In a global economy that’s becoming more digital-oriented every day, e-commerce has become the most potent force for change. How has online selling changed the way people shop, buy, save, spend, invest, trade, and conduct every imaginable form of business activity? There’s no simple answer, but a few concrete examples hint at the massive influence of electronic commerce.

For starters, the entire beauty and health products segment is now primarily an online enterprise. Brick-and-mortar stores still exist, but new entrants into the niche invariably rely on computer-based sales for the bulk of their profits. Likewise, fleet managers in transport companies rely on dozens of electronic solutions as a reason to network and to find new customers and keep loyal ones happy.

Finally, consumers flock to all-online products like video training courses, digital products, and similar services. Even individuals can get in on the action by starting a one-person, home-based business from a laptop or monetizing a blog in order to earn income. The most common ways in which this new form of commercial business is changing the economy include the following.

Beauty, Health, and Skincare

Perhaps no other industry has been so completely changed by electronic commerce as health and beauty. When merchants have the ability to sell without paying rent on storefronts, this popular product niche becomes nearly inflation and recession-proof. Consumers are reluctant to give up their personal skincare, beauty, and home health products even in bad economic times. Some of today’s most profitable e-commerce businesses operate in this lucrative product segment.

Fleet Management Meets E-Commerce

Most e-commerce merchants depend on physical delivery of their goods. It’s one thing to operate a company out of your home office, but quite another to get all those orders into the hands of buyers by the promised delivery dates. Modern fleet management systems are closely connected to the e-commerce universe in a number of ways. For starters, fleets must maintain integrated computer networks that accept, track, and secure goods that are sold by their e-commerce clients. In many cases, transport companies work exclusively with sellers of online goods, in which case the line between e-selling and fleet management becomes almost indistinguishable.

To get all those orders out on time and delivered via efficient routes, transport managers use ELD (electronic logging device) compliance solutions to keep all the operations connected in real-time. In addition to being fully connected, fleet systems offer the advantage of keeping ELD compliance costs as low as possible. That’s because a logging device, part of every fleet program, keeps drivers from exceeding hours-of-service maximums.

Online Training Courses

Consumers thoroughly enjoy taking training and education courses online instead of in physical classrooms. Enrollment and sales figures for virtual training companies are rising faster than ever as millions of people sign up for one-shot or long-term curricula in hundreds of subject areas. Whether you want to learn to play the guitar or master the nuances of international accounting, there’s an online course for you. Plus, many corporations use video tutorials to train new hires and help current employees meet continuing-education requirements in a cost-efficient, convenient way.

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