As we spend a larger proportion of our lives in the online domain, it’s become clear that any self-respecting company will prioritize their digital activities to cater to the global reach of the internet.
There’s already a race between the likes of Apple, Amazon and Google to become the first trillion dollar company. And what’s remarkable about this is that all of these companies are relatively young.
Apple recently celebrated its 40th birthday, and it’s this company who have revolutionized the way that we listen to music thanks to the iPod, and their groundbreaking innovation with the iPhone paved the way for our current smartphone culture.
It’s our use of smartphone technology that’s really helped many new businesses achieve overnight success. With eCommerce revenues expected to top $4 trillion by 2020, it’s clear that the likes of Amazon have been incredibly shrewd in placing their faith in the online domain.
However, it isn’t all about the massive multinationals, as the democratic nature of the internet has provided plenty of opportunities for smaller businesses too. Websites like eBay and Etsy have enabled all of us to sell our own goods online, and the rise of streaming sites like Netflix and Spotify have abandoned one-off payments in favor of a monthly subscription service for their entertainment offerings.
The gaming realm has even seen companies doing away with payment for goods altogether. The rise of the ‘freemium’ model has been fantastically successful for mobile games like Candy Crush Saga, and many gamers would walk a long way to play this slots at MrSmithCasino as the site allows individuals to play many games for free with no signup needed.
With such impressive examples from every aspect of life, it remains to be seen whether the astonishing growth of online businesses will ever level off.
Many people have noticed how we could be entering the next phase of the internet as peaking sales of smartphones and a slow take-up of wearables has shown that it’s getting harder to make our tech smaller, and so it seems that our futures could be increasingly virtual.
2016 was a breakthrough year for virtual reality technology with high-profile headsets like the Oculus Rift showing impressive abilities to create artificial 3D environments. And so the question is whether retail services, entertainment companies, and casino firms will be quick to use this technology to introduce the next phase of the online business revolution.