MODERN TRENDS AND PROSPECTS OF INTERNET COMMERCE AS A TOOL FOR BUSINESS DEVELOPMENT IN THE CONTEXT OF GLOBALIZATION OF INTERNATIONAL ECONOMIC RELATIONS

Abstract

The purpose of the article is to study current trends and prospects for the development of e-commerce as a crucial business development tool in the context of globalization of international economic relations. Research Methodology. To achieve the stated goal, trend analysis, statistical analysis, and forecasting methods were used. The study analyzed statistical data on the e-commerce market volumes for the period from 2014 to 2023, as well as forecast indicators up to 2032. Special attention was paid to consumer behavior analysis, implementation of advanced technologies in e-commerce, and studying the role of major companies in the market. The research results indicate significant growth in the global retail e-commerce market during the period from 2014 to 2022. The main factors contributing to this growth were the increase in Internet users and the adoption of mobile commerce. The COVID-19 pandemic also accelerated the development of e-commerce due to mobility restrictions and the closure of physical stores. The key players in the e-commerce market include companies such as Amazon, Alibaba, eBay, Walmart, and others. As of June 2023, Amazon holds a leading position with a market capitalization of approximately $1.34 trillion USD. The age structure of e-commerce users shows that Generation Z, Millennials, and Generation X prefer searching for products on social media. The largest e-commerce market is the Asia-Pacific region, thanks to its advanced digital infrastructure and the presence of major companies (comprising 57% of the total market volume), followed by North America and Europe. Business recommendations include the necessity of adapting to new technologies, investing in mobile commerce and social media, as well as utilizing artificial intelligence and blockchain to enhance user experience. The implementation of modern payment systems is also a critical success factor in e-commerce. For the effective development of e-commerce, it is important to consider regional specificities, market dynamics, and constantly monitor changes in consumer behavior.