Open AccessMEGATRENDS OF E-COMMERCE DEVELOPMENT IN THE CONTEXT OF MODERN TECHNOLOGICAL REVOLUTION
Author(s) -
Volodymyr Sidenko
Publication year - 2018
Publication title -
ekonomìka ukraïni
Language(s) - English
Resource type - Journals
eISSN - 2522-9478
pISSN - 2522-9303
DOI - 10.15407/economyukr.2018.11.082
Subject(s) - pace , diversification (marketing strategy) , context (archaeology) , business , goods and services , e commerce , the internet , digital revolution , industrial organization , commerce , economics , economy , telecommunications , marketing , computer science , world wide web , paleontology , geodesy , biology , geography
The article covers the issues of development of electronic (digital) commerce (EDC) as a key trend in transformation of the world economy. The emphasis is on multidimensional manifestations of the EDC and on a clear tendency towards further diversification of forms of this commerce under conditions of intensive technological transformations of modernity. Its spread is associated with the growing role of the EDC and it is proved that the pace and efficiency of its spread in the sphere of trade and economic operations is largely due to availability of information and communication infrastructure of adequate quality. It is shown that new prospects for the development of e-commerce are related to the key new technologies of the Fourth Industrial Revolution: analytics based on large databases, blockchain technologies, Internet of things and artificial intelligence. The author argues that the latest technologies create the foundation for a systemic change in the very nature of economic and non-economic relations. It is proved that the process of e-commerce spread is controversial and related to the possible presence of both positive results and negative consequences. Positive effects are primarily owing to a significant reduction in costs and expansion of the range of supply, increasing opportunities for promoting goods and services on the market (especially for small and medium-sized businesses) and a significant reduction of time of commercial operations. At the same time, the importance of security of economic development and protection of the rights of individual is emphasized, as in the context of the spread of e-commerce, the risks in these aspects are increasing. Particular attention is paid to the importance of coordinating the e-commerce policy development. The role of the leading international organizations – the UN (UNCTAD and UNCITRAL), the WTO, the OECD, the World Customs Organization, the Universal Postal Union – in the development and regulation of e-commerce is also described. Taking the European Union (the policy of forming a single digital market) and the Eurasian Economic Union (Digital Agenda of the EAEU until 2025) as an example, the growing importance of international regional policy in addressing this problem is shown.