The Effects Of Online Consumer Protection Regulations On E-Commerce In The Global Market

Abstract

The growth of e-commerce in the global market has highlighted the need for online consumer protection laws. These laws aim to create a safe and secure environment for online transactions. Their impact on global e-commerce is significant. They have boosted consumer confidence, leading to higher sales for e-commerce businesses. Additionally, they have established a level playing field for businesses of all sizes by setting minimum standards for online transactions. However, implementing these laws has been challenging for businesses, especially small ones, due to compliance costs and complexity. The varying regulations across different countries have also caused inconsistencies in consumer protection. Despite these challenges, online consumer protection laws are crucial for the growth and sustainability of the e-commerce industry. They have been instrumental in fostering a secure environment for online transactions, thereby increasing sales and consumer trust in e-commerce.