The impact of e-commerce on the global economy is far-reaching. It is having a profound and radical effect on businesses throughout the world, leveling the playing field for businesses outside the traditional economic powerhouses in many ways. Because people can shop online, without ever leaving their homes, and shop at any shop that has an online commerce site no matter where the business is located, global commerce is more competitive and has less barriers to entry than ever before.
One way to measure the impact of e-commerce on the global economy is to realize how it has affected traditional brick and mortar businesses. There is no ability for traditional brick and mortar businesses to stay out of e-commerce; the business simply will not thrive without a web-based component.
Smaller businesses and retailers no longer have to commit to the expense of a brick and mortar location, because their global reach makes it possible to achieve enormous success with e-commerce. Because the impact of e-commerce has been so great, the methods by which businesses market to their target markets have been radically affected as well.
Online marketing allows e-commerce businesses to reach a larger target market more effectively. No longer are businesses marketing only to the people who can drive to their stores; now, anyone who fits the target profile, anywhere in the world, can be targeted through effective online marketing techniques.
The impact of e-commerce has affected everything from the cost of doing business to the level of service companies are capable of providing to the ways in which marketing occurs. These changes are not going to disappear; if anything, the challenge will be to stay a step ahead of the shifting nature of technology in order to take advantage of the power and reach afforded by these new marketing venues.
Ultimately, the impact of e-commerce will be to level the playing field among economically disadvantaged countries. As the infrastructure required fore-commerce to be possible reaches even the smallest communities, borders and political power will be less influential in terms of success than a company’s ability to effectively market online, build a community of followers, and create lasting relationships with their target market.
Success will come first to those in e-commerce who are flexible, embrace change, and are willing to risk trying new marketing approaches and platforms in order to extend and deepen their reach. In the near future, it’s likely that traditional shopping through brick and mortar locations will transform even more radically, becoming secondary to the online experience or possibly disappearing altogether.
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