Today, while online commerce is not synonymous with the whole of retail, both e-commerce and physical retail can be seen as equals. Even so, it is the online retail place with more room for growth as commerce sinks further into the new age. Data from Digital Commerce 360 shows US citizens traded goods and services worth $861.2 billion online with US retailers in 2020. Despite the wide scope of the online marketplace, small business players can leverage e-commerce to gain a deeper foothold and even rival legacy players in the new segment. Enabling e-commerce ecosystems will require changes to public policies, business practices and regulatory frameworks for online transactions and security.

Source: The Star July 09, 2021 08:15 UTC