The Globalization of E-commerce in BusinessMost small and medium sized businesses (SMEs) used to be local businesses. Trading internationally required a significant effort, especially for those selling direct to customers.
Shipping individual packages was complicated and expensive, and few found it worth investing in streamlining the process. Now, however, the internet has reshaped that world.
The changing face of businessThis month saw the 20th anniversary of e-commerce, the driving force behind the revolution. It all began with the sale over the internet of a single album, Sting's Ten Summoner's Tales, and though initial growth was slow such trading has now become firmly established. Last year, ecommerce brought in $263 billion in the US alone. Key to this growth has been the ease with which e-commerce can be used to expand markets globally. This has drawn more and more SMEs into this way of doing business, which has in turn put pressure on other players in the commerce system to improve the services they offer.