New Trends and Digital Models of E-commerce in Era of COVID19: Case Study of Russian and Korean Retail Companies

Abstract

AbstractThis paper presents recent survey of e-commerce trends and its digital models in Russian and Korean markets, especially in the field of customization. This article is based on 2 types of research: survey and case study. The survey includes statistical data and it has been applied to separate domains of e-commerce in Russia and South Korea at the same industry. Authors discuss retail industry for B2C market. The period of survey is 2021. There are 20 small and medium size companies in Russian market and 15 small companies in Korean market were investigated. The paper discusses trends in the development of the international e-commerce, ways of raising revenue from e-commerce and changes that took place in the period of pandemic. The development of e-commerce has the potential to make a significant contribution to economic growth and social welfare through increased consumption households, expansion of the retail sector and a decrease in operating costs. In contrast to the linear model of innovation, when the cost of innovation is gradually transformed into the results of innovation, in the digital economy, various types of innovative activities develop in parallel to each other and are characterized by continuous improvements through customer feedback.KeywordsDigital modelE-commerceCOVID19Digital technology