Essential ecommerce terms to grow your online store.
PEST analysis is a strategic framework used to evaluate external factors such as Political, Economic, Social, and Technological, that can influence a business environment. It helps ecommerce businesses identify potential risks and opportunities by examining how changes in legislation, consumer behavior, economic conditions, or technology trends may impact operations. As markets and external conditions evolve, a PEST analysis should regularly be reviewed to ensure ongoing relevance and informed decision-making.
