The digital landscape is in a constant state of flux, with the turn of the millennium seeing a significant shift in the world of internet retail. According to Forrester Research, the majority of online retailers were predicted to be out of business by 2001, largely due to dwindling finances and an oversaturated market. This article explores the changing digital landscape and how businesses can adapt to survive and thrive in this new environment.
In the late 90s, the internet retail market was flooded with around 30,000 e-tailers. However, as Mark Doll, a consultant for startup companies at Ernst & Young, pointed out, approximately 25,000 of these were expected to disappear. This consolidation, while alarming, served as a wake-up call for businesses to adapt to the changing landscape.
VoIP is a technology that leverages the cost-effective infrastructure of the internet to merge voice and data. This technology allows users to make free long-distance calls via websites like freephone.com and visitalk.com. In the future, it's expected that users will be able to call the internet from any phone to request information, make reservations, and more. However, VoIP still has some hurdles to overcome, such as the unreliability of the internet and the instability of browsers and applications.
WAP is a standard language developed by the WAP Forum to bring the internet to wireless devices like smartphones and PDAs. WAP is used to convert HTML websites into sites that can be viewed on the small, text-only screens of most mobile phones. The International Data Corporation predicts that by 2003, there will be more wireless web subscriptions than PC internet subscriptions.
With the rise of Application Service Providers (ASPs) and the decline of e-tailers, it's becoming clear that the internet will primarily provide services and applications in three areas: information, entertainment, and communications. Despite its flaws, the internet remains the best way to find and collect information on any topic. However, for entertainment and communications, traditional methods like TV and telephones still dominate.
The growth of VoIP, v-commerce, and wireless internet technologies will eventually make the internet our primary source of communication. For entertainment, the internet already offers gaming, streaming video, and downloadable audio, but these are currently hindered by slow download times and bugs. However, with the advent of higher bandwidth and broadband, these issues will be resolved, and the internet will consume a larger portion of the entertainment market.
Understanding these emerging trends in technology can provide a competitive advantage. By building on this knowledge and applying it to your strategy, website, or company, you can adapt, position, and succeed in the ever-changing digital landscape.
