Study of e-commerce trends based on customer characteristics in Latvia

Abstract

The current topics of e-commerce studies in Latvia are examined and basic directions of research are highlighted. The key trends of e-commerce development processes in the country are analyzed, based on the study of the main characteristics and preferences of e-costumers. The main problems in the development of e-commerce in Latvia and further steps to address them are substantiated. The aim of this article is to investigate trends in Internet commerce in Latvia on the basis of the characteristics of e-customers and to determine the future prospects and ways in which Latvian businesses can take advantage of the opportunities offered by the Internet. Based on the research results, author can note that there is significant e-commerce development potential in Latvia and, in particular, by local businesses, which, however, is practically not used nowadays. Most Latvian businesses have not yet adapted to new aspects. At the same time, users in the country are increasingly active in online shopping. Thus, there is a need for active development of e-commerce in Latvia, which requires further research into the reasons holding companies back from entering the online segment and identifying incentives for its activation.

Basic characteristics of Latvia’s e-shoppers

“…Thus, the development of the e-commerce market in the country is an important direction for increasing Latvia's GDP. However, one of the main obstacles is the lack of representation of national businesses' products and services online, with only 17% of Latvian companies using e-commerce tools in their activities (Babics & Zvirgzdina, 2022). According to the evaluation of the Executive Board of the International Monetary Fund (Republic of Latvia: 2021 article IV consultation: Report No.…”