The Great Facilitator - Tech Giants as Central Figures in E-commerce and Society
E-commerce has begun its ascent into mainstream society and new businesses are rapidly filling the sphere, supporting technologies in turn are becoming more advance and creating value for their end users. All while directly bridging inequality and granting accessibility to real people all over the world. Shopify for instance, has an active store count of more than a 1.7 million. Objectively, Shopify represents a marketing solution to long occurring problems while making the purchasing process more reliable and efficient. I have heard stories of companies asking for as much as $30,000 to build and roll over old stores onto new platforms. The barriers to entry is a very important socio-economic topic, especially on this scale. Much of the benefits for consumers are justifiably beneficial and studies suggest that most businesses are becoming increasingly reliant on their online stores for much needed exposure. In fact many argue that an online presence is imperative for growing businesses. Platforms such as Shopify make it affordable and easy enough to deliver a high quality solution due to the companies large public financing.
Connecting People All Over the World
It's no wonder how this precious statement is true judging by how heavily reliant we have grown towards our electronic devices and just how powerful tech companies have grown. Traditional brick and mortar business appears to be one-dimensional in comparison, failing to engage in markets beyond their local reach and failing to capitalize on the easily scalable structure. E-commerce grants us the functionality to access foreign markets and to create new connections where it was previously impossible. Technology is now the great facilitator for all things in this modern world. The e-commerce industry is defined by constant improvements of the online shopping experience with whole sub-sectors supplementing the greater industry, a lot like a Russian nesting doll. Brilliant tech entrepreneurs are coming up with new creative ways to resolve countless problems from accounting to consumer trust, while some believe that this may only be the beginning.
E-Commerce is the Future, Growth is Strong
Current information suggests online figures will continue to grow from about $4.2 trillion in sales in 2020 to $6.5 trillion in 2023. This growth is driven not only by advances in technology and infrastructure but also by consumer acceptance and the prevalence of supporting technology. Amongst the advances that attribute to this growth is an undeniable correlation between the availability of high-speed networks and the quantity of internet consumption. The nature of internet connectivity appears to be highly inelastic as it is an important tool globally, and is considered our foremost tool for communication. The internet once had a persistent issue of being exceedingly expensive to operate but without a way of creating cashflow. The only feasible way to utilize the internet for profit was through advertisement revenue, since then we have found solutions such as subscription based content and e-commerce that have made it increasingly profitable and profoundly beneficial to operate. The internet’s utility is multi-faceted with varying functions and purposes, but its financial viability drives its continuous growth and improvement.
Global Tech Infrastructure is Accelerating Growth
Internet consumption and digital marketing are very closely related, Meta Platforms or otherwise known as Facebook currently has a market capitalization of about 1 trillion USD. This supports the idea of how one the most powerful companies in the world is dependent on advertisement revenue and how they are in large proportion; driving global sales through their services. There is a clear dependency between e-commerce and some of the largest firms in the world. In the coming years, as advanced infrastructure technologies become more openly available and at more affordable rates, we will see an inevitable increase in global internet consumption attributed to these advances. It is not completely apparent if global revenue growth is attributed to infrastructure advancements or if it's the infrastructure that promotes the revenue. What is clear is that digital marketing is now the standard model for any scaling business and that more sophisticated tech is constantly disrupting the industry through improvements.
Tech Giants are Driving Technological Development
It isn’t only Facebook that drives the spread of technologies across the globe. The combination of logistical networks, e-commerce, warehousing and new manufacturing techniques have quintessentially defined millennial economics. The degree of investment into modern technologies and research can only be defined as gargantuan; most notably in publicly held companies such as Google, IBM, Amazon and Microsoft. Each one of these companies have had a part in paving the path for the western world and in many respects the whole world. Unless you live in a hermit society, these technologies are not just omni-present but are a vital part of society. The collective market capitalization of the world’s largest tech firms lands in them in the multi-trillion dollar range. This not some sort of bragging right but rather a way for us to conceptualize the degree of macro-economic planning that is required to organize such forces. The manner as to which these companies operate in unison and as pioneers of globalization is a reflection of the divine. Their R&D alone is an engine to world change and global development. We are currently positioned in a time in history were the tech giant is truly noble and mighty. Support for these firms is almost monolithic and their integration into society is concrete. Many will find comfort in knowing they are not alone but are supported by trillions in infrastructure when entering the market.
Technology is Solution to Inequality
It helps to understand the significance of such innovations in technology by looking back at history and at humanities many revolutionary discoveries. The world has had to change dramatically over the past few centuries in order to become what it is now. There was once a time when we didn’t have the means of communicating across the globe. A time when life revolved around scarcity and traversing the vast expanse was a tremendous burden. Pioneers have propelled the industrial revolution and in turn changed the world as we know it. As recently as the early 1900’s specially manufactured products were only available to the elite due to the immaturity of our production technologies. We have adapted new manufacturing techniques over time, slowly expanding our capabilities and introducing new economies of scale. The scarce goods that were reserved for only a few, only a century ago, have become more sophisticated and widely available all over the world. It is no opinion but utterly factual that modern life is more equal and that the technologies that we take for granted have reinvented our world. We have arrived at a point in time were we can produce on a massive scale and economic planning has become global with trade blocs and cooperation between nations. The technologies that we use on a daily basis are truly great facilitators for equality and growth.
The Growth of Opportunity and Accessibility
The greater industry may influence our business but our business may not have much of a reciprocating effect on the greater industry. This point is important because it affirms just how incredibly resilient the sector is, and that is important when considering our own investment into the industry. We should always understand the risks involved when taking on any entrepreneurial venture. Although there is evidence that suggests how lucrative e-commerce can be, we also cannot expect a direct relationship between global sales and our own business. There is no assurance of success in any venture and thats why we must be extra cognizant of the best practices in digital marketing. The most important aspect of modern communications is accessibility to any and all. The world is open and made available to a vast global network of users, something that is arguable more important than any promise of success. One should place greater emphasis on the fact that the opportunity exists and this is quintessentially the light of the World Wide Web. The most innovative products can lose out to cutting edge marketing efforts, but that’s part of the game. It should come as a blessing that what we cannot control the whole and that it remains fair for all.
An Opportunity for Everyone to Change their Lives
If you are able to successfully diversify your business and to deliver a sustainable product, then the mammoth that is the internet will reward you in equal proportion. It’s hard to motivate yourself to take on a new project with the risk of financial loss, and sadly the market potential is more than some are able to harvest. However, there is no clearer picture in this world than the motivation behind investor trust, most notably in the highly scrutinized public sector. One can’t be but astonished by the remarkable organization of public resources in the West sphere. The future is long and the opportunities are plentiful and there un-ironically seems to be no limit to the growth of opportunity. I encourage you to learn about e-commerce and let this be a clean exchange of resource for knowledge in spite of the risks involved. Let this article represent a promise of good fortune for those that endure for the sake of knowledge. It may seem much of the excitement may revolve around rocket ships or iPhones but thats not all that there is to it. E-commerce represents an opportunity for wealth redistribution which is a very important topic socially and politically. We may never see the cosmos with our own eyes but a new means of providing for your family sounds darn good right now.