The Era of Internetalisation: How The Internet Is Transforming Traditional Businesses
Businesses that have traditionally existed on high streets, public facilities, or in-office spaces are beginning to adjust to modern consumers’ demands by transforming their business to survive in today’s climate. COVID-19 left thousands of businesses in a state of concern about what the future may hold and, for some, resulting in an obligation to go online to stay in business.
Internetalisation, a term coined by Mathews in 2011, describes how the internet has opened new business opportunities. The proliferation of the internet, combined with the pandemic, has resulted in an unprecedented period of adjustment that is unlikely to change, as consumer habits have completely shifted to favor the internet. Here are a few businesses that have adjusted to maintain business or have thrived due to internetalisation and the pandemic.
Food Delivery Platforms
Businesses that offer food delivery services to people’s doors have blossomed as more people turn to e-commerce. In the past, someone would always head out to pick up a takeaway, limiting the options available to them. Yet, with services like Deliveroo and Just Eat, you can have an entire meal on your doorstep within 30 minutes. The ease of passing a phone around lets everyone decide what they want, pay on your device, and be eating in such a short time frame makes going out to pick up a takeaway extremely unappealing. Food delivery services like this have existed for years now; the business has boomed due to the pandemic.
As restaurants shut all over the country for lockdown, these delivery platforms offered a saving grace to keep them above water. Businesses that would have never considered delivery were suddenly adjusting how they work to facilitate it. Additionally, it benefited customers. People felt more comfortable having a ‘contact-free’ service that involved paying without cash and not having to leave their home’s safety. Food delivery companies existed before. Still, the pandemic opened people’s eyes to the ease that comes with using them. They are likely to thrive more than ever before due to this.
Auctions
People looking to purchase at auction would look forward to the hustle and bustle that came with the event. Excitement as the item you are after comes up, competition with other buyers, the opportunity for below market purchases, and the feeling of winning made buying at auction favorable over other options. Yet, having hundreds of people nearby became unacceptable as a result of Covid-19.
Online residential property auctions aren’t new, but the scale they are now being used has increased exponentially. People can go online, take part in live auctions, or take part in silent auctions to buy things they’ve had their eyes on. Property auctions have become exceptionally popular as a means of investing in residential or commercial property as the real estate market continues to thrive.
For many people, the shift to online auctions is a blessing, as it is more difficult to get caught up in the atmosphere; therefore, people avoid overspending and keep to their budget. Auction fans can now benefit from buying discounted goods without the travel involved, whilst auction houses don’t have to fork out on expensive leases. It’s a win-win for the industry.
Charity Shops
Nipping into the charity shop on your high street used to be a regular thing for many people a decade ago; however, times have now completely changed. High Street shop spaces are sparsely populated, so it is not worth people spending the day shopping there as there isn’t much to see, resulting in charity shops struggling. This struggle was only heightened as a result of the pandemic.
Once again, whilst online charity shops have existed in the past, the unique opportunity offered by the internet means that highstreet shops need not be their sole income. The quality of products available online, teamed with the products’ professional images, takes charity shopping to another level for consumers. They can find discounted items from the comfort of their home, and they have far more choice than they would in a small highstreet shop. Charity shops have adapted to benefit from the possibilities that e-commerce can offer.
