Lesson 55 of 84 · Technology Advances
⭐ 30 XPtechnology-advances: Lesson 55
The rise of e-commerce has transformed the global economy, allowing businesses and consumers to engage in transactions electronically.
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Then & Now
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The rise of e-commerce has transformed the global economy, allowing businesses and consumers to engage in transactions electronically. This shift began in the late 20th century and has since proliferated, with platforms like Amazon and Alibaba dominating the market. E-commerce not only facilitates convenience for consumers but also enables businesses to reach a global audience with lower overhead costs. Furthermore, the COVID-19 pandemic accelerated the adoption of e-commerce, as many businesses adapted to changing consumer behaviors and preferences for online shopping.
Key Facts
E-commerce sales surpassed $4.2 trillion globally in 2020.
Amazon was founded in 1994 as an online bookstore.
The COVID-19 pandemic significantly increased online shopping.
Check Your Understanding
Question 1
1 of 2What was the original focus of Amazon when it was founded?
Why this still matters
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technology-advances: Lesson 55
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