THE STATE OF THE DIGITAL SPHERE OF ONLINE RETAIL

Abstract

The article provides a general analysis of the state of the retail Internet commerce. The authors prove that today the e-commerce market is estimated at approximately USD 2 trillion. At the same time, retail trade has never been so profitable before, which has led to an increase in the popularity and number of online store launches. Online sales have allowed stores to reach out to a wider audience of customers while maintaining a high quality of service. E-commerce has become an effective way to grow for businesses of all sizes and types, covering a wide range of products. The paper emphasizes that the development of e-commerce in recent years has significantly changed the way businesses and consumers trade and communicate. Online commerce has allowed businesses to penetrate new markets, attract more customers, and optimize business processes. The paper emphasizes that an important factor in the success of e-commerce is convenience and accessibility for customers. The ability to make online purchases from anywhere and at any time of the day has become a necessary component for the modern consumer. Many companies are actively implementing innovative technologies to facilitate the shopping process and make it as convenient as possible for customers. In addition, e-commerce contributes to increased competition and more choices for consumers. The competition between platforms and companies encourages them to constantly improve their services and offers to customers. This allows customers to get better conditions and a wider range of goods and services. The authors emphasize that the development of the global e-commerce market includes the dynamic development of both formats - online stores and marketplaces. After all, online stores provide consumers with the opportunity to conveniently select goods or services and order through a website, which is especially convenient and popular among consumers. Marketplaces, on the other hand, allow different suppliers to be brought together on one platform, which expands the choice for consumers and creates competition, which helps to improve the quality of goods and services. Thus, these two formats interact and combine to complement each other and create various opportunities for businesses and consumers. The development of e-commerce takes place in the context of constant changes in technology, consumer needs and business approaches, which requires constant analysis and adaptation by market participants.