HOW ECOMMERENCE

BOOMED DURING
PANDEMIC
COVID-19 has elevated e-commerce to the forefront
of the retail industry. Prior to the pandemic, global
Internet buying w as rising at a constant 4.5 percent
per year. How ever, the retail scene has shifted
dramatically this year, ow ing to a combination of
public health-related movement restrictions and a
grow ing consumer preference for avoiding physical
storefronts. Businesses w ho w ere able to adapt to
digital platforms w ere more likely to succeed.
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The rise of e-commerce has resulted inside an
expansion in the number of digital financial
services available to small businesses and
individuals. Non-financial companies are
increasingly offering services like online
wallets, credit, and reinsurance at the point of
sale, a trend known as embedded finance. This
boom in embedded finance has the potential
to greatly increase small businesses' access to 3

capital.
Online sales are no longer an option, but a
necessity for brick-and-mortar businesses. On
the consumer side, the COVID-19 issue resulted
STATISTICAL ANALYSIS
in a structural change in demand toward
digital commerce, which is expected to
continue in the coming years. Several new
platforms have emerged in emerging countries
such as Africa, Asia, and Latin America,
adopting new business strategies and assisting
in the overall landscape's competitiveness.
Furthermore, the crisis may present chances for
second-generation "niche" platforms that serve
market groups that have previously been
overlooked by giant e-commerce platforms.
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