We have just lived through a revolution. Not a war-like overthrow of our government – but it was a complete transformation of our lives all the same.
In future generations, historians will look back on this era as The Digital Revolution. It has been a period of remarkable rapid change when everything in our lives has been digitised – and made available on the worldwide web.
From making a doctor’s appointment to getting live traffic updates while driving, and from meeting a new partner to checking your bank balance, it all now happens on the internet.
A generation ago, you were lucky to be able to do any of these things via a landline telephone.
So the digital transformation of business and commerce has been extraordinary. Whether buying a house or booking a holiday, the internet is now the normal marketplace.
Almost every business operates to some extent via the internet. Even hand-on roles like a farm, a plumber or a decorator will have a web presence and use the internet.
For some it has been a simple shift – for others it has been a shocking upheaval. Some have done better than expected, some not so well.
But which industries have done best from a shift to the internet?
We talked to business analysts who revealed the industries that have been most successful with a transition online.
Gaming
Who would have thought that an online casino would prove to be so attractive to players?
The old bricks-and-mortar gambling venues had glamour and style. They offered food and drink.
A casino was an exciting, atmospheric venue where players were comfortable and trusting about spending money.
A few years later however and physical casino industry is being dwarfed by a massive upsurge in online gambling across the world. The ability to play games of chance wherever and whenever you like turned out to be something millions were waiting for.
It’s the same whether you are enjoying a quick round of bingo during your lunch break – or seriously comparing the best online casino bonuses at BonusFinder Canada.
The industry has changed so much that the first place to approach any form of games of chance or betting these days is online.
Shopping
Remember shops selling records, books and even pre-recorded video cassettes? Now look at some of the biggest companies in the world.
They include Amazon, Spotify and Netflix. These simple entertainment purveyors have taken the available technology and transformed the way their industries operate.
Netflix actually began operating as a company selling physical DVD movies that moved into mail-order rentals then invested heavily in streaming as it could see how the business model might work.
The huge rise of ecommerce and brands like Amazon has shown the power of the internet to cope with simple administrative jobs like acquiring stock, taking orders and dispatching them.
Meanwhile Spotify has monetised the arrival of streaming technology to transform the delivery of musical entertainment.
Housing market
Real estate buying and selling used to be all about interactions with agents, getting postal details of properties, all with large amounts of travelling and viewing necessary.
Today everything goes through the internet, from the first photos or videos of a property for sale to the actual legal transaction itself.
This transformation has cut the costs of all businesses involved while boosting housing markets across the globe. Various websites and property agencies have made huge profits from a transition very few experts saw coming.
Used belongings
We would take them to used dealers, charity shops, jumble sales or garage sales. One thing is clear – it was hard to make money from your unwanted old possessions.
Today, thanks to online auction sites led by the huge eBay operation, selling used things is a multi-billion business. Everything from old windows to used shoes can be found online.
It’s a source of bargains for buyers and handy cash for owners. And the operations including eBay have created many businesses simply dealing day-to-day with buying and selling used items online.
They have created a booming online industry where previously there was barely an industry at all.
Summary
The online revolution has transformed the way most businesses operate. Many have been able to take advantage to increase profitability.
Those industries that have been most successful were not necessarily those that were predicted to thrive. Some, like the gaming industry, were surprise winners even within their own industry.
The most successful were those that were agile and inventive. They altered their way of operating to fit the advantage offered by the new technology.
Also they invested heavily in new ways of doing business. The casinos for example have employed the most sophisticated encryption systems to safeguard their financial transactions.
More businesses will doubtless adapt to the online ways of doing business. One thing the experts do agree on is that there are still big successes waiting to happen on the internet.
