Goods and Services
E-commerce
- The buying and selling of goods and services through digital platforms.
- It has revolutionized traditional business models by providing convenience, accessibility, and efficiency to both consumers and businesses.
Amazon is a prime example of an e-commerce platform that has disrupted traditional retail. It offers a wide range of products, from books to electronics, and provides services like fast shipping and customer reviews.
E-trading
- E-trading refers to the buying and selling of financial instruments, such as stocks, bonds, and currencies, through online platforms.
- It has democratized access to financial markets, allowing individuals to trade from anywhere with an internet connection.
- Robinhood is an e-trading platform that allows users to trade stocks and cryptocurrencies without paying commissions.
- It has made investing accessible to a broader audience.
Online Marketplaces
- Online marketplaces are platforms where multiple sellers can offer their products or services to buyers.
- They facilitate transactions by providing a centralized platform for buyers and sellers to interact.
Etsy is an online marketplace that connects independent sellers with buyers looking for unique, handmade, or vintage items.
Personalized and targeted marketing
- Personalized and targeted marketing uses data analytics to deliver customized advertisements to specific audiences.
- This approach increases the likelihood of conversion by tailoring messages to individual preferences.
Spotify uses personalized marketing to recommend playlists and songs based on a user's listening history, increasing user engagement and retention.
Cryptocurrency
- Cryptocurrencies are digital currencies that use blockchain technology to enable secure and decentralized transactions.
- They offer an alternative to traditional currencies by eliminating the need for intermediaries like banks.
Bitcoin is the first and most well-known cryptocurrency. It allows users to transfer value without relying on a central authority.
Non-Fungible Tokens (NFTs)
- NFTs are unique digital assets that use blockchain technology to verify ownership.
- They have gained popularity in art, music, and gaming by providing creators with new ways to monetize their work.
NBA Top Shot is an NFT platform that allows fans to buy, sell, and trade officially licensed NBA collectible highlights.
Cashless Society
- A cashless society relies on digital payment methods for transactions, reducing the need for physical cash.
- This shift offers convenience and transparency but raises concerns about privacy and accessibility.
Sweden is moving towards a cashless society, with most transactions conducted through mobile payment apps like Swish.
Micro-Transactions
- Micro-transactions are small payments made for digital goods or services, commonly used in gaming and mobile apps.
- They provide businesses with additional revenue streams but can lead to concerns about consumer spending.
Fortnite generates revenue through micro-transactions by selling in-game items like skins and emotes.
Additive manufacturing
- Additive manufacturing, or 3D printing, creates objects by adding material layer by layer.
- It offers advantages in customization, cost savings, and reduced waste compared to traditional manufacturing methods.
- How has e-commerce changed the way businesses operate?
- What are the advantages and disadvantages of a cashless society?
- How do personalized marketing strategies impact consumer privacy?
