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Assignment on Trends and Development of E Commerce

   

Added on  2020-05-28

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Running head: TRENDS AND DEVELOPMENTS OF E-COMMERCETRENDS AND DEVELOPMENTS OF E-COMMERCEName of the Student:Name of the University:Author note:
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TRENDS AND DEVELOPMENTS OF E-COMMERCEInternet has changed the world ever since its emergence. Its growth and rise hascompletely changed the consumers in terms of behavior and expectations (Murphy and Dweck2016). It has become one of the important distribution channels for most of the successfulorganization in current era. As there is a rapid change and improvements in technology, E-commerce too is growing in terms of size and is reaching more and more people. The onlinewebsites available for purchasing of products are concentrating on the consumer’s behavioraland shopping patterns by bringing a drastic change (Mittal 2013). Such e-commerce activitieshave intensified the competition among the countries, enabling the consumers, businesses andthe government as well in order to benefit them with more choices, better services andcomparatively lower prices. It has the ability to facilitate the entry and expansion of thecompanies into the market. With improved and ever increasing internet access and personalcomputers penetration rate, this trend is providing greater opportunities for the countries likeSingapore in order to conduct online shopping and business. Current trends in e-commerce of Singapore and Indonesia: Singapore is one of thosecities of Southeast Asia that have the highest speed of internet in their region. Singapore has 18.2mbps of speed on average (Kemp 2014). Around 60 % of the total consumers in Singapore gettheir first information on the products from the internet. There are very less number of peoplewho get updated about their products via TV advertisement, magazines or any other sources.Among the most visited internet websites, the name of the top websites comprises of onlineshopping sites such as the Amazon, Lazada and Qoo10. According to the studies conducted bythe International Telecommunications Unions (ITU), in the year 2013, about 31% of the totalindividuals and 32 % of the total households of the Asian region had access to internet (Kuriharaand Fakushima 2013). However, though Indonesia has the largest population, it still has lower
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TRENDS AND DEVELOPMENTS OF E-COMMERCEinternet penetration than that of other Southeast Asian countries, which is making it one amongthe hottest market of e-commerce in today’s world (Ezeh, Bongaarts and Mberu 2012). TheSingaporeans spend more of their total income online rather they do offline. It has been observedthat most of the Singaporeans are technologically shrewd and they are often connected to theinternet. In addition, the manner in which the Singaporeans shop is more or less fundamentallyaffected by the rise of ‘mobile-commerce’. The internet penetration of Indonesia is about 15.63% and that of Singapore is 74.18 % but the online population of Singapore is far less thanIndonesia (Lim 2014). The high penetration of smart phones and the internet coverage areproviding a fertile ground for all the retailers in order to improve the quality of their onlineofferings. As of January 2017, the total population of Indonesia is near about 262miillion andamong them, its online population comprises of 37,918,340, whereas that of Singapore is3,940,738. With the same, Indonesian market is not as matured as that of Singapore or Malaysiabut it has more than 250 million of population that is bringing millions and millions of newonline shoppers each day (Cheong and Lee 2013). The love for mobile phones is also highamong the people of Southeast Asia. However, the percentage of smart phone usage among theIndonesians is less than that of the Singaporeans i.e. it is 43 to 47 % in Indonesia and 88 to 91 %in Singapore. The computer usage is however less than that of the smart phone usage in both thecountries. People often use their smart phones in order to get access to internet. Data services andsmart phones are getting cheaper day by day. This in turn is promoting people more towards theuse of internet more often. According to the studies conducted in 2016, the total number ofrespondents, who were using internet each day, was very high and it was observed that it wasincreased by 10 % in the countries like Singapore, Malaysia and Philippines from the former
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