Abstract
Research background:Globalization encourages increased involvement of retailers, and the market currently provides these entities with a new range of purchasing functions. The new economy is based primarily on information and knowledge, so the key to success is the ability to constantly improve and respond to changing market conditions and increasing customer requirements. The Internet thus becomes an integral part of our lives. It is a tool that makes our lives better. The expansion of the global information network Internet has created space for a new kind of business. It brings benefits to all e-commerce entities. For this reason, its popularity is growing exponentially. The negative experience caused by financial fraud, misuse of sensitive data, the unreliability of business partners, and the like is also growing.Purpose of the article:The basic purpose of the article is the fact that the development of e-commerce is one of the important conditions for maintaining and increasing the competitiveness of the Slovak economy and its ability to participate in the international division of labor with the economically developed countries.Methods:The basic pillar of the article was to analyze the current development of e-commerce in the Slovak Republic, which is affected by the pandemic situation caused by COVID-19, make a comparison with EU countries, and evaluate the perception of e-commerce by Slovak consumers based on a questionnaire survey.Findings & Value added:Finally, we interpret the answers of the respondents, which were obtained by the questionnaire method.
Highlights
The new economy is based primarily on information and knowledge, so the key to success is the ability to constantly improve and respond to changing market conditions and increasing customer requirements
In this paper we will further analyze the current development of e-commerce worldwide, using data on the platform Statista, which is affected by the pandemic situation caused by COVID-19, compare the e-commerce of the Slovak Republic with EU countries and evaluate the perception of ecommerce by Slovak consumers based on a questionnaire survey
The increase in e-commerce revenue was mainly due to measures taken by national governments around the world, when in-store stores remained closed to prevent population mobility and eliminate the spread of COVID-19
Summary
The new economy is based primarily on information and knowledge, so the key to success is the ability to constantly improve and respond to changing market conditions and increasing customer requirements. The Internet becomes an integral part of our lives. The expansion of the global information network Internet has created space for a new kind of business. It brings benefits to all e-commerce entities. For this reason, its popularity is growing exponentially. The negative experience caused by financial fraud, misuse of sensitive data, unreliability of business partners and the like is growing. The development of electronic commerce is one of the important conditions for maintaining and increasing the competitiveness of the Slovak economy (Dvorský et al 2020) and its ability to participate in the international division of labor with economically developed countries. E-commerce has a great impact on future trade relations, on the creation and implementation of trade policy in the domestic and international framework
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