Article on " e-commerce unlocking the global trade" by Shreya Pandey

 E-commerce unlocking the global trade

Shreya Pandey

Roll No. 113

B.Com Semester 2 (2022-26)

_𝙄𝙉𝙏𝙍𝙊𝘿𝙐𝘾𝙏𝙄𝙊𝙉__

Michael Aldrich was the first who invent e-commerce technology. In India, from 1995 to 2005 was the first wave of e-commerce.

China is the first world's biggest e-commerce market.

K. Vaitheeswaran is widely hailed as "the father of e-commerce in India".

The first e-commerce company was fabmart.com in 1999.

 " E-commerce is an advanced way of conducting business online and across the borders". The limitation of conducting business within geographical boundaries & connecting to the global market through offline mode paved the way for the adaptation of a concept called e-commerce.

According to Phillip Kotler --  "A general term for buying and selling procedure that is supported through electronic means."

______________________

𝙏𝙃𝙀𝙊𝙍𝙄𝘾𝘼𝙇 𝘼𝙋𝙋𝙍𝙊𝘼𝘾𝙃 𝙊𝙁 𝙀-𝘾𝙊𝙈𝙈𝙀𝙍𝘾𝙀

1. Transaction cost theory 

2. Marketing

3. Diffusion

4. Information retrieval

5. Strategic networking

𝙃𝙤𝙬 𝙚-𝙘𝙤𝙢𝙢𝙚𝙧𝙘𝙚 𝙪𝙣𝙡𝙤𝙘𝙠𝙞𝙣𝙜 𝙩𝙝𝙚 𝙜𝙡𝙤𝙗𝙖𝙡 𝙩𝙧𝙖𝙙𝙚!? 

 Many business owners dream of their products being used in every corner of the world. The period of Covid-19 unlocked the door for global trade in a bigger way. In this period the revenue for online shopping grew up across the world. 

Cross-border transactions in commerce are the biggest growth opportunity for the Indian e-commerce industries. As per the  𝙛𝙤𝙧𝙚𝙨𝙩 𝙧𝙚𝙨𝙚𝙖𝙧𝙘𝙝, the e commerce is expected to grow at CAGR of 17.3%. 

    

𝙀𝙭𝙖𝙢𝙥𝙡𝙚:-- 𝙚-𝙘𝙤𝙢𝙢𝙚𝙧𝙘𝙚 𝙚𝙭𝙖𝙢𝙥𝙡𝙚 𝙞𝙨 𝙬𝙝𝙚𝙣 𝙖 𝙘𝙤𝙣𝙨𝙪𝙢𝙚𝙧 𝙞𝙣 𝙩𝙝𝙚 𝙐𝙣𝙞𝙩𝙚𝙙 𝙎𝙩𝙖𝙩𝙚 𝙥𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙥𝙧𝙤𝙙𝙪𝙘𝙩 𝙛𝙧𝙤𝙢 𝙤𝙣𝙡𝙞𝙣𝙚 𝙧𝙚𝙩𝙖𝙞𝙡𝙚𝙧 𝙗𝙖𝙨𝙚𝙙 𝙞𝙣 𝘾𝙝𝙞𝙣𝙖. 

• 𝙘𝙤𝙣𝙨𝙪𝙢𝙚𝙧 𝙤𝙣𝙡𝙞𝙣𝙚 𝙨𝙚𝙖𝙧𝙘𝙝 = the buyer of USA searches a specific products and discover on online market. 

• 𝙥𝙧𝙤𝙙𝙪𝙘𝙩 𝙨𝙚𝙡𝙚𝙘𝙩𝙞𝙤𝙣 =  the store website select desire product and add it in shopping cart.

• 𝙥𝙖𝙮𝙢𝙚𝙣𝙩 = the consumer proceeds to the checkout process and make the payment using one of offered method credit card and any other online method. 

•𝙞𝙣𝙩𝙚𝙧𝙣𝙖𝙩𝙞𝙤𝙣𝙖𝙡 𝙨𝙝𝙞𝙥𝙥𝙞𝙣𝙜 = the retailers arrange the international shipping of purchased products

• 𝙘𝙪𝙨𝙩𝙤𝙢 & 𝙙𝙪𝙩𝙞𝙚𝙨 = the product enters the United States through custom clearance. 

• 𝘿𝙤𝙢𝙚𝙨𝙩𝙞𝙘 𝙙𝙚𝙡𝙞𝙫𝙚𝙧𝙮 = the product clear custom it handed over to a local delivery service in the United State 

• 𝙥𝙧𝙤𝙙𝙪𝙘𝙩 𝙧𝙚𝙘𝙚𝙞𝙥𝙩 = the consumer receipt the product at their doorstep. The transaction complete the cross- border of e-commerce transaction. 

 𝙏𝙝𝙚 𝙖𝙫𝙚𝙧𝙖𝙜𝙚 𝙙𝙚𝙡𝙞𝙫𝙚𝙧𝙮 𝙩𝙞𝙢𝙚 𝙤𝙣 𝙩𝙝𝙚 𝙧𝙤𝙪𝙩𝙚 𝙐𝙎𝘼 𝙖𝙣𝙙 𝘾𝙝𝙞𝙣𝙖 𝙙𝙚𝙥𝙚𝙣𝙙 𝙞𝙩'𝙨 𝙩𝙚𝙣𝙙𝙨 8- 10 𝙙𝙖𝙮𝙨.

𝙆𝙚𝙮 𝙛𝙖𝙘𝙩𝙤𝙧 𝙤𝙛 𝙚-𝙘𝙤𝙢𝙢𝙚𝙧𝙘𝙚 Un𝙡𝙤𝙘𝙠𝙞𝙣𝙜 𝙜𝙡𝙤𝙗𝙖𝙡 𝙩𝙧𝙖𝙙𝙚

1. The first key factor:  the driving force is to give utmost preference to consumer preference.

2. The second key factor: the ability of the seller to manage and complete transactions through the range of integrated logistics along with payment trusted open marketplace. 

3. The third key factor: make Indian sellers competitive in the global market would be as-----

      • Simplicity in the export procedure to reduce the delivery timeline. 

      • Digital transfer of the product would satisfy the consumer. 

      • favourable policy for India. 

The marketplace provides equal opportunity to all types of the seller not just by providing integrated 𝙨𝙚𝙧𝙫𝙞𝙘𝙚. 

𝘾𝙊𝙉𝘾𝙇𝙐𝙎𝙄𝙊𝙉

 " 𝙀-𝙘𝙤𝙢𝙢𝙚𝙧𝙘𝙚 𝙞𝙨 𝙝𝙚𝙡𝙥𝙛𝙪𝙡 𝙩𝙚𝙘𝙝𝙣𝙤𝙡𝙤𝙜𝙮 𝙩𝙝𝙖𝙩 𝙜𝙞𝙫𝙚𝙨 𝙩𝙝𝙚 𝙘𝙤𝙣𝙨𝙪𝙢𝙚𝙧 𝙖𝙘𝙘𝙚𝙨𝙨 𝙩𝙤 𝙗𝙪𝙨𝙞𝙣𝙚𝙨𝙨 𝙖𝙣𝙙 𝙘𝙤𝙢𝙥𝙖𝙣𝙞𝙚𝙨 𝙖𝙡𝙡 𝙤𝙫𝙚𝙧 𝙩𝙝𝙚 𝙬𝙤𝙧𝙡𝙙. '