Fighting to Stay Relevant in the Internet World
There is no denying that the Internet is becoming more integrated into the lifestyles of a majority of the population. This integration is changing the way that consumers do business and turned online shopping into the thing to do when you want to find products for sale at a discount. A number of different sectors have been affected by online retailers and online services. While the music industry is one of the best known victims, the film processing sector has seen a similar fate as printers advance in capabilities and online shops offer more affordable print options. While some sectors have never rebounded since the advent of online shopping, others are fighting to stay relevant.
Every industry has already been impacted by online retail. The question is what industries are going to be hit harder in 2012? The cosmetics industry has managed to stay afloat with just over 3 percent of all industry-wide purchases being made online in Australia. Traditional stores will need to keep competitive prices to keep up with the growing online shopping trend.
The cosmetics industry is not the only industry that needs to stay relevant. Booking travel through an independent travel agent has become the thing of the past with retail travel sites offering low prices on air fares and hotel rooms. The service industry is also suffering with competition in the design sector. Not surprisingly, the DVD rental industry has slowed down as technologies give consumers the ability to choose a movie to rent straight from their television.
Traditional stores are finding ways to store relevant as the Internet has changed the business model throughout Australia. Consumer-oriented services and the launching of new integrated products is what will attract consumers. Businesses who cannot adjust to the changes the Internet has brought may not be able to keep up.