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Abstract

The e-commerce market has seen exponential growth in the last twenty years spurred by an increasingly globalising retail market alongside significant advancements in digitalisation, with internet access now available across most of the globe. In 2020 e-retail sales surpassed 4.2 trillion US dollars worldwide. With the E-commerce market share of total global retail sales climbing to 22% (Coppola, 2021). Encouraging an ever-growing number of businesses to take advantage of the growing market of potential customers by moving their operations online. Making the market more competitive every year, with traditional high street chains now battling against the pioneering businesses in this field whose long-term operation in the market has allowed them to establish themselves as market leaders. With the American multinational companies ‘Amazon.com’ and ‘eBay’, being some of the first businesses to establish themselves in this market, they are currently attaining the highest monthly traffic in 2020 (Clement, 2021).
This report will examine how these market leaders overcame the competition to become the most successful brands. Specifically, with their use of machine learning which is used in their various algorithms for displaying product search results, as well as with their tailored product recommendation system. Is there a correlation between businesses who implement advanced learning algorithms in their operating systems and businesses who have experienced large economic growth? How has this technology evolved since the inception of E-commerce markets? There will also be further research into the current state of the market and whether external factors such as the COVID-19 pandemic have influenced any new businesses to attempt to penetrate this highly competitive business environment by adopting potential new technologies.

Course: Digital Media - BSc (Hons) - C1515

Date Deposited: 2022-02-09

URI/permalink: https://library.port.ac.uk/dissert/dis13746.html