E-commerce Industry: How the Internet is Changing Retail, Travel, Entertainment, & Communication

In this video, you will understand the effects the Internet has on the e-commerce industry. Jack W. Plunkett, CEO of Plunkett Research, Ltd., discusses trends in physical versus online retailing, the relationship between e-commerce and online entertainment, and Internet communications.

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retailers. There are a large number of e-commerce only retailers. Amazon by far

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being the dominant player worldwide in that category. Also giant companies like

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some of subsidiaries of Alibaba, eBay, so on and so forth. Keep in mind that a

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lot of e-commerce has also conducted by retailers, that is physical store

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retailers, who are finding their store traffic to be down in many cases while

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their Internet traffic and their e-commerce sales are going up.

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E-commerce online selling is literally revolutionizing the physical retail

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industry, so that today the most successful retailers practice what we

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call Synergy of Bricks and Clicks. In other words, make it easy to buy your

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merchandise, find your merchandise, return your merchandise whether online

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or at the store. Also, in e-commerce, we have online travel agencies. Companies like

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Expedia and Priceline that have

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literally turned the travel industry upside down by making it incredibly

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convenient for travelers all over the world to compare airline seats, airline

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prices, airline destinations, hotel rooms, hotel prices…

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Apple’s iTunes literally revolutionized the sale of music

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overnight by making it simple, fast, and convenient to purchase, find,

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download, and enjoy music that you buy online, whether in single songs or albums.

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Now that online music delivery is evolving to the point that many

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consumers are finding it more convenient to subscribe to a huge lists of songs

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that are available all the time through companies like Spotify and Pandora, and

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also through Amazon and Apple itself. Entertainment ticket sales have

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ballooned and become the most convenient way to buy your tickets to any type of

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entertainment event including just movie theaters. Access to entertainment of all

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types by video and by subscription to TV and subscription to things like Netflix

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are another form of literally revolutionizing the entertainment

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industry by making it convenient for you to watch what you want to watch, when you

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want to watch it, on whatever device you want to watch it on. Another area again

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truly revolutionized by the Internet is the delivery of voice communications and

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video conferencing. V-O-I-P, or Voice Over Internet Protocol, where you bypass

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traditional telephone companies in some cases, maybe get your telephone service

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through your cable TV provider, again absolutely revolutionizing

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the telecommunications sector. What are the developments you should keep an eye

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on? For the near future,

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first of all, there’s five G wireless delivery promising vastly faster

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Internet access speeds on wireless devices, smartphones, tablets, and so on.

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