Markets

How Online Shopping is Changing the Economy of a Country

African American Hands Shopping In Online Ecommerce Store

 

Online shopping is changing the economy of a country in a variety of ways. A few of these are positive and others are negative. It is important to keep track of the statistics because it helps to determine whether or not online purchasing is a boon or a bane.

The most obvious reason is the convenience. With a few clicks of a mouse, you can place an order and get it delivered straight to your home. However, it is not always easy to ensure the integrity of an online business.

One of the best ways to measure the impact of online shopping is to study the amount of money being spent in the local economy. These purchases have a direct impact on taxes collected by towns. If you buy from a local store, you can be confident that you are supporting the local community and will pay the proper tax.

The biggest gainers are education and ICT/electronics. While you might not be able to purchase a personal computer or an electronic book from your favorite bookstore, you can do a lot more online.

The biggest downside is the loss of local jobs. Most of the young population does not have a permanent source of income and thus does not have a large budget to spend.

Another downside is that most businesses that sell products online do not charge the appropriate taxes. This can restrict the growth of a local business.

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