Future of E-Commerce — What Trends Can be Expected

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The future of e-commerce business seems to be all set to have an exponential growth. As more and more traders are demonstrating their trustworthiness, product quality, commitment to sales terms and attractive pricing through the e-commerce route, the global consumers are only going to patronize them more and more.

The future of e-Commerce will have two distinctive lines of growth – one, within a nation and two, international.  While both these segments are bound to grow, the former’s growth naturally will be far faster paced.

== Future of e-commerce within a nation ==

1)  Retail stores too are likely to sell through e-commerce

 Just like selling pizzas, retails stores, provision stores, vegetable shops, meat shops and consumer durable stores are likely to join the e-commerce bandwagon in a localized way (say, within a city) and offer quick on-door deliveries of items ordered and paid through the e-commerce route. What many retail stores offer now through telephonic order based on trust, is likely to grow far bigger through e-commerce, by getting secured payment through credit card/ e-banking transaction.

 2)  Tax network will be part of e-Commerce

 With e-Governance being the mantra in many developing countries, automatic e-taxation may also become an integral part of e-commerce.  This means that whenever a commercial transaction takes place through the internet, the appropriate tax involved in the sale of a product or service will get instantly credited to the Government through a portal and the seller will be relieved of any statutory paper work to be maintained for tax transactions.

 3) Mini-containers for delivery

 As door delivery of goods become widespread, courier companies, in association with sellers, will develop re-usable, mini-containers of various standardized  sizes for delivery which will save lots of packing charges.

== Future of e-commerce internationally  ==

 1)  All International banks will become competitors to Paypal

 Paypal  today is the most widely accepted international payment gateway for e-commerce for across-the-border sales.  As e-commerce grows more and more, International banks will join the bandwagon and offer much better terms  for buyers and sellers in transferring funds from one nation to another under e-commerce.

 2)  Emergence of a global e-currency

 There is a distinct possibility that in a distant future, a global, non-paper,  e-currency will evolve,  which will be tradable with local currency and usable only for  e-commerce. 

 3)  Emergence of universal  e-commerce tax/ duty norms

 Countries are likely to come to a broad understanding on common rates of import / export tax / duties imposed on cross border sales through e-commerce.  Mutually and heavily trading countries are likely to evolve clear-cut systems and treaties to do the international taxation via e-governance or a Global Reserve Bank and then settle their tax credits and debits through periodic reconciliation of bi-national tax accounts. Emergence of a global E-currency can make this exercise simpler.

 4) More services through e-Commerce

Apart from products, more and more services (e.g. computerized accounting, Software development, design services, multimedia services etc) , where face to face contact with customers may not be much of a need, e-commerce has the potential to spread to this service segment too in a big way. Cloud Computing is already an emerging technological trend in the Software Industry.

 5) Large scale trading of banned goods

 Good and bad will always co-exist in the nature’s scheme of things. As e-commerce grows across national boundaries, trading of arms and ammunition, narcotics, spurious drugs, spurious branded products etc will also take place through fraudulent and fictitious business houses  and the Governments will have to keep constant vigil over antisocial elements who engage in such activities.

    There are umpteen possibilities that as the technology evolves further, the so called global village will shrink further and international trading through e-commerce will see the greatest growth in future. Of course, it can be safely predicted, seeing the past trends, that cyber crime will also grow at equally menacing proportions and a tough global fight to combat it will be there demanding lots of financial and technological resources!

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