Development of the Digital Economy in Retail: Opportunities and Challenges

Student: Kim Vladimir

Faculty: Faculty of World Economy and International Affairs

Educational Programme: World Economy (Bachelor)

Year of Graduation: 2020

Today the retail sector remains one of the most sensitive to various innovations. That's why companies operating in this field need to face new challenges in order to take advantage of new opportunities and horizons that open to them. Obviously, the right and proper response to the situation in the modern retail market will give the company an advantage over its competitors. In the sphere of global retailing, there is a constant growth of digitalization rates. This is due to the fact that more and more consumers are actively using digital technologies, and therefore, to meet their preferences and succeed in competing in the market, it is also necessary to introduce and apply modern technological solutions. This study will examine not only the opportunities that digitalization of retailing presents to the world economy, but also the threats it poses.

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