Podcast
Questions and Answers
What is the primary function of the Internet as described?
What is the primary function of the Internet as described?
- To manage governmental operations
- To exclusively support e-commerce transactions
- To facilitate communication and services among diverse entities (correct)
- To connect only educational institutions
What estimation was provided regarding the number of connected devices to the Internet as of 2019?
What estimation was provided regarding the number of connected devices to the Internet as of 2019?
- 25 billion to 50 billion devices
- 50 billion to 100 billion devices
- 5 billion to 10 billion devices
- 10 billion to 25 billion devices (correct)
How has the number of Internet hosts changed from 2000 to 2019?
How has the number of Internet hosts changed from 2000 to 2019?
- Decreased from 72 million to 10 million
- Remained relatively stable around 72 million
- Increased from 10 million to over 1 billion
- Increased from 72 million to over 1 billion (correct)
What technology is underpinning the growth of e-commerce?
What technology is underpinning the growth of e-commerce?
Which of the following services is NOT commonly provided by the Internet?
Which of the following services is NOT commonly provided by the Internet?
What was one of the original purposes of creating the Internet?
What was one of the original purposes of creating the Internet?
Which of the following statements regarding Internet hosts is true?
Which of the following statements regarding Internet hosts is true?
What is characterized as part of the Internet's growth since its inception?
What is characterized as part of the Internet's growth since its inception?
What is the role of cloud computing in transforming the mobile platform?
What is the role of cloud computing in transforming the mobile platform?
What is big data primarily produced from?
What is big data primarily produced from?
What was the estimated total social commerce revenue worldwide in 2020?
What was the estimated total social commerce revenue worldwide in 2020?
Which software is used to analyze big data for consumer purchase patterns?
Which software is used to analyze big data for consumer purchase patterns?
What is the primary focus of local e-commerce?
What is the primary focus of local e-commerce?
What concern has arisen regarding user-generated content on social networks?
What concern has arisen regarding user-generated content on social networks?
How does the EU General Data Protection Regulation affect companies?
How does the EU General Data Protection Regulation affect companies?
By what amount did local e-commerce grow in the United States in 2020?
By what amount did local e-commerce grow in the United States in 2020?
What is a significant concern regarding online security?
What is a significant concern regarding online security?
Which term describes the combination of mobile, social, and local e-commerce?
Which term describes the combination of mobile, social, and local e-commerce?
What factor has fueled the growth of local e-commerce?
What factor has fueled the growth of local e-commerce?
What effect does on-demand service e-commerce have on job creation?
What effect does on-demand service e-commerce have on job creation?
What is a common issue faced with online communications?
What is a common issue faced with online communications?
What has significantly contributed to the growth of retail e-commerce and m-commerce during 2020?
What has significantly contributed to the growth of retail e-commerce and m-commerce during 2020?
Which segment of e-commerce is expected to continue increasing despite the pandemic?
Which segment of e-commerce is expected to continue increasing despite the pandemic?
What percentage of digital ad spending is accounted for by mobile advertising?
What percentage of digital ad spending is accounted for by mobile advertising?
What is one of the main drivers behind the growth of local e-commerce?
What is one of the main drivers behind the growth of local e-commerce?
Which company category benefitted from the pandemic despite its challenges?
Which company category benefitted from the pandemic despite its challenges?
How many people worldwide are using mobile apps as mentioned in the content?
How many people worldwide are using mobile apps as mentioned in the content?
What types of services are mobile messaging platforms like WhatsApp and Facebook Messenger increasingly utilized for?
What types of services are mobile messaging platforms like WhatsApp and Facebook Messenger increasingly utilized for?
What do small businesses commonly utilize to enter the e-commerce marketplace?
What do small businesses commonly utilize to enter the e-commerce marketplace?
What was the retail m-commerce revenue in 2020?
What was the retail m-commerce revenue in 2020?
What percentage increase did retail m-commerce revenues experience in 2020?
What percentage increase did retail m-commerce revenues experience in 2020?
What is the anticipated retail m-commerce revenue for 2024?
What is the anticipated retail m-commerce revenue for 2024?
Mobile e-commerce refers to the use of which devices to enable transactions?
Mobile e-commerce refers to the use of which devices to enable transactions?
What type of sales declined significantly in 2020 due to the pandemic?
What type of sales declined significantly in 2020 due to the pandemic?
How are mobile consumers enabled to conduct online transactions?
How are mobile consumers enabled to conduct online transactions?
What is a significant factor expected to influence the future growth of retail m-commerce?
What is a significant factor expected to influence the future growth of retail m-commerce?
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Study Notes
Technological Build Blocks of E-commerce
- The Internet is a vast network connecting billions of devices including computers, smartphones, tablets, and other Internet-connected consumer products.
- Established in the late 1960s, the Internet has evolved to become the largest global network.
- Estimates suggest there were between 10 billion to 25 billion connected devices worldwide as of 2019.
- In 2019, there were over 1 billion Internet hosts across more than 245 countries, a significant increase from 72 million in 2000.
E-commerce Trends (2020–2021)
- The Covid-19 pandemic accelerated the growth in retail e-commerce and mobile commerce (m-commerce).
- Nearly 2.8 billion people worldwide use mobile applications, enhancing the mobile app ecosystem.
- Social e-commerce generated approximately $90 billion in revenue in 2020, supported by advertising on social networks.
- Local e-commerce expanded significantly, driven by demand for on-demand services like Uber and DoorDash, surpassing $125 billion in the U.S. in 2020.
- B2B e-commerce remained stable during the pandemic and is projected to continue growing.
- Mobile advertising accounted for over 70% of all digital ad expenditures.
Technological Advancements
- The mobile platform revolutionized online transactions via smartphones, tablets, and wearable devices.
- Messaging services like Facebook Messenger and WhatsApp are used by 45% of the U.S. population.
- Smart speakers, such as Amazon Echo and Google Home, are gaining popularity for e-commerce platforms.
- Cloud computing facilitates access to consumer data and software via internet-based servers.
- The Internet of Things (IoT) is growing exponentially with billions of connected devices producing significant data.
Data Utilization
- Firms harness big data through business analytics to understand consumer behavior and purchase patterns in real-time.
Social Implications
- User-generated content has exploded in online platforms, promoting self-publishing while raising privacy concerns.
- Regulatory impacts are prompted by privacy issues, particularly in the EU with the General Data Protection Regulation.
- The dominance of Facebook, Amazon, and Google has raised calls for government regulation in the U.S. and EU.
- Online security is under threat as companies face hacking incidents and privacy invasion concerns.
E-commerce Sectors
- Mobile e-commerce (m-commerce) reached nearly 2.8trillioninsalesgloballyin2020,withprojectionsofgrowthto2.8 trillion in sales globally in 2020, with projections of growth to 2.8trillioninsalesgloballyin2020,withprojectionsofgrowthto4.5 trillion by 2024.
- Local e-commerce focuses on engaging consumers through location-based services, benefitting from the rise of local on-demand services.
Summary of E-commerce Types
- Mobile e-commerce, social e-commerce, and local e-commerce are interconnected trends reshaping consumer engagement and transaction methods, supported by technology advancements and changing consumer behavior.
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