[Business Trend] Uncertain US economic outlook in 2024, e-commerce business strategy
US economic outlook for 2024... ‘Slow growth or worsening economy’’
*Source_Byline Network
Many predict that the U.S. economy will slow its growth in 2024. On October 10, 2023, the International Monetary Fund (IMF) predicted the US economic growth rate in 2024 to be 1.5% in the World Economic Outlook (WEO). This is an upward revision of 0.5% from the economic growth rate of 1% predicted in the previous announcement last July. The background to the more optimistic forecast than in July was the possibility of a soft landing for the U.S. economy due to the expansion of personal consumption spending.
On the other hand, there are also more serious views. Robert Kahn, a macroeconomist at Eurasia Group, said that the factor that allowed the country to maintain growth without an economic recession in 2023 was the continued impact of the U.S. government's fiscal stimulus measures during the pandemic. He warned that the situation where funds can no longer be released and high interest rates could lead to stagflation of low growth and high prices, which could be triggered by a sharp decline in demand due to high oil prices and worsening overseas conditions, including in China.
*Source_ IMF
What is e-commerce? What e-commerce means and tips to improve your business
*Source_wixBlog
What is e-commerce?
eCommerce is a combination of Commerce, meaning transaction, and Electronic, meaning electronic. In other words, it refers to all transactions conducted over the Internet. It includes retail malls selling clothing and other physical products and all kinds of services from cybersecurity to hotel reservations.
The most common way to make sales and transactions happen online is through a dedicated online store or e-commerce platform.
Most businesses that use it, especially small businesses, rely on retail and wholesale commerce. That is, selling and supplying physical products. However, e-commerce is not just about selling products, and there are many different types.
Can e-commerce make money? What on earth is e-commerce?
*Source: Brunch Story James Kim
The revenue structure of the Imicus business includes a seller margin-based revenue structure, a payment-based revenue structure, a fulfillment service structure, a vertical preheating fulfillment service structure, and an advertising revenue structure.
Why do large-scale e-commerce businesses continue to grow their businesses while only making losses?
[Commerce BN] E-commerce industry in 2024 viewed from trends in 2023 (1)
*Source_Byline Network
A lower growth rate and a slowdown in growth are predicted in 2024 compared to 2023, and this is expected to have various effects on e-commerce. For e-commerce sellers, it is essential to have a business strategy that can respond wisely to sales management, raw material purchase management, and inventory management. In this content, we review the economic indicators that e-commerce sellers should pay close attention to and look at what you, as a seller, should respond to.
<2024 e-commerce business insights>
Date and time: February 1, 2024, 1:30 p.m. ~ February 1, 2024, 6:00 p.m.
Location: Conference Room 1, Basement 1, ST Center (Science and Technology Convention Center), 22 Teheran-ro 7-gil, Gangnam-gu, Seoul
Contact: byline@byline.network
The trend has not changed much in 2023. One by one, companies that had focused on quick commerce began to slow down their delivery speeds. The comprehensive mallization of the vertical e-commerce platform is also currently in progress. The strategic directions of Coupang and Naver have not changed significantly. Coupang showed confidence that it can achieve an annual surplus without difficulty by achieving a surplus by the third quarter of 2023, while Naver quietly continued its 2022 strategy and began targeting brands and monetization in the domestic e-commerce market. .
None of the highly anticipated players in the e-commerce market went public. Curly withdrew its listing on the KOSPI market, and Oasis Market also took a step back from going public due to opposition from major shareholders. In addition, sad news from 11th Street was also delivered. Among these, Singaporean e-commerce company Q10 is embracing domestic e-commerce platforms that have weakened their competitiveness one by one.
*Source_Ministry of Trade, Industry and Energy
What strategies will domestic e-commerce companies enter 2024 with?
- Online or offline, regardless of category... Big Blur 2024
- ‘I didn’t make any money’ vs ‘I achieved a monthly surplus’
- Korea alone is not enough
- China is coming... very close
- The golden age of sellers? Brand heyday
- Live commerce is also changing.
- Technology that adds profits throughout the value chain
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