Post and responses

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PostandResponses.docx

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Student 1. I will update the file for student 2

Anishka Gupta 

Week 2

COLLAPSE

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The internet is changing the way we work, socialize, create and share information, do shopping, organize the flow of people, ideas, and things around the globe. Every innovation has some good and some bad impact on the country’s economy that might affect or increase the revenue of small or big businesses. According to the general online shopping statistics, online shopping is growing so fast that the global online shopping market size is predicted to hit 4 trillion in 2020. In the USA alone, it is expected to have 300 million online shoppers by 2023 which are 91% of the country’s population. 69% of Americans shopped online whereas 25% of Americans shop online at least once per month. All these purchases are not being made in a store which means these have a significant impact on the local economy. Online purchases directly impact the local economy as it reduces the amount of sales tax the state was supposed to collect and other local taxes that towns and counties collect. Many online retailers do not charge the appropriate sales tax for items that they sell online; this is beneficial for the big industry but not for the locals.  For instance, if a client buys a Christmas present from Amazon rather than from a neighborhood business, that cash goes to the national retailer rather than the buyer's locals.

 

https://www.forbes.com/sites/elizabethharris/2016/12/13/as-shoppers-spend-more-online-local-economies-take-the-hit/#639fe7392ce8

 

https://optinmonster.com/online-shopping-statistics/

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