European Commission legislation could have the potential to boost e-commerce and stimulate job growth, reports tamebay.com. Author: Ashley Curtis
European Commission legislation could have the potential to boost e-commerce and stimulate job growth, reports tamebay.com.
A “coherent framework for building trust in the Digital Single Market for e-commerce and online services” report has been designed to remove barriers to cross border trade and enable business sales to increase in this digital age.
As a result, if consumers continue to use online payment services to purchase products (totalling at 15 per cent of all retail sales), the gains for European consumers could be as high as 204 billion euro (£169 billion).
European Commissioner Neelie Kroes explains why the EC are taking measures to stimulate cross-border buying, stating: “Each year, 200 million Europeans – 40 per cent of all citizens, – buy over the internet. But faced with different national rules and systems, less than one quarter of that number do so across national borders.”
While 50 per cent of EU retailers are selling their products online, only 21 per cent receive orders from online shoppers in other countries. As a result, the EC wants to make shopping more transparent and more trustworthy for consumers.
Members of the EC commented on the move, cited by news.myhermes.com: “The action plan we are presenting today will create new opportunities for citizens and businesses and will bring Europe much-needed growth and employment.”