Melnyk Yuliya, PhD (Economics), Associate Professor, Department of International Economic Relations, Ternopil National Economic University, Ternopil, Ukraine

ORCID ID: 0000-0002-6938-882X
e-mail: yuvmelnyk@gmail.com

Miakush Olena, master student, Ternopil National Economic University, Ternopil, Ukraine

ORCID ID: 0000-0001-5276-6794
e-mail: olenamiakush777@gmail.com

Current Trends of E-Commerce in the International Handmade Market

Abstract. Introduction. In recent years, the demand for handmade products or handicrafts has increased rapidly on the global market. Handmade has become one of the important sectors of e-commerce, actively developing with the help of modern information technologies. Steady growth in audiences, low cost of entry, high level of customer engagement promotes maximum use of all the advantages of the Internet by craftsmen. In order to strengthen its competitive advantages and increase its share in the world market, it is important to consider the current trends in this area of international trade.

Purpose. The purpose of the article is to identify current trends of e-commerce in the international market of handmade products, considering its specificity, and substantiation of perspectives of Ukrainian handmade manufacturers in this market.

Results. Features of e-commerce in handmade products are determined primarily by the specificity of handmade products, which distinguishes them from other consumer products. Their characteristic properties include: emotional component; uniqueness, often made in a single copy; the specificity of the formation of cost, which usually involves the cost of raw materials, auxiliary materials, time spent on creating things, promotion costs, the added value of the invested skill of the author; the need for videos and photos of high quality to promote products; high level of differentiation in the market. The article identifies a number of trends that will accompany e-commerce in the global handmade market in the near future and will determine the strategies of craftsmen: growth of mobile shopping; increasing role of influencers in promoting products; the growth of ethical and conscious consumption, higher popularity of eco-brands; the growing impact of the experience economy, creating new opportunities for handmade business.

Conclusions. The global market for handmade products is dynamically growing and changing its structure in the direction of increasing involvement of developing countries. This is made possible by e-commerce tools and low barriers to market entry. The current trends identified in the online market for handmade products should be the basis for developing marketing strategies of domestic handmade manufacturers for successful positioning in the global market.

Keywords: electronic commerce; handmade product; international market; consumer; trends; handicrafts.

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