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E-Marketing and its Impact on the Modern Economy

Author

Listed:
  • Olha Prokopenko

    (Doctor of Economics, Professor, Estonian Entrepreneurship University of Applied Sciences, Tallinn, Estonia)

  • Ihor Halytsia

    (Doctor of Economics, Professor of the Department of Labor Economics and Management, National University of Food Technologies, Kyiv, Ukraine)

  • Tamara Berezianko

    (Doctor of Economics, Professor of the Department of Labor Economics and Management National University of Food Technologies, Kyiv, Ukraine)

  • Viktoriia Bozhkova

    (Doctor of Economics, Full Professor, Professor at Makarenko Sumy State Pedagogical University, Sumy, Ukraine)

Abstract

The main focus of the study is to investigate the impact of e-marketing on the modern economy. The objective of this scientific research is to study the current state of development of e-marketing in Ukraine and Estonia, and its impact on the economies of these countries. To achieve this goal, it is necessary to solve the following tasks: to consider the essence of the concepts of "e-commerce" and “e-marketing”; to analyse the impact of e-marketing on the modern economy of Ukraine; to analyse the impact of e-marketing on the modern economy of Estonia. It is noted that at the end of 2020, 10.6 million people in Ukraine regularly made purchases online, which is one third of the population. This includes a stable audience of regular customers of online stores and trading platforms. Approximately 33% of adults regularly shop online, and this audience is gradually growing. It is important to note that we are talking about regular online shopping, and almost all Internet users have some experience of online shopping. It is also noted that in the same year 2020, every fifth company in Estonia offered the opportunity to buy their goods through a website or other electronic channels. The share of online sales was 5% of the total revenue of enterprises, of which 2% was generated by sales to individuals, and the remaining 3% was generated by sales to other firms and public sector institutions. However, the share of sales through websites was only 0.3% of the total revenue of enterprises. The conclusions emphasise the role of e-marketing as a strategic tool in stimulating economic growth in both countries. By encouraging innovation, e-marketing acts as a catalyst for digital transformation in retail, ensuring sustainable business development and competitiveness. Ukraine and Estonia have proved to be ready to adapt to the challenges of the digital future, and e-commerce, supported by effective e-marketing, plays an important role in building a sustainable infrastructure for online trade development.

Suggested Citation

Handle: RePEc:bco:mbraaa::v:10:y:2023:p:59-69
DOI: 10.32038/mbr.2023.10.01.05
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