Providing Domain Names, Web Hosting and Web Design
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Providing Website Updates.Nigel Burke - Internet Marketing & eCommerce Expert
Video Rental, Travel Agencies And Photo Processing Stores Are Ignoring Do Or Die Opportunities
It happened to the music industry and now it’s happening to more industries. The music industry ignored technology changes and suffered the consequences. If only if they were early adopters to selling online music, I believe more people would purchase their music online. They have had a hard time playing catch up including many court cases and legal battles.
The local video store under threat
Most video stores and chains have ignored the online world and will suffer a slow death in 2010 and beyond. IBIS World research predicts that the video rental industry will lose $20m in renenue in 2010.
The video rental industry has had a number of threats of late including NetFlix – an online video mail subscription service, DVD vending machines and new disc formats. A lot of people are legally and illegally downloading their movies today.
I’m just waiting for the day when Fox Studio and Warner Brothers successfully start selling their movies online for immediate download directly to customers instead of using distributors.
Travel Agencies
IBIS World research predicts the travel agency sector to fall by $46 million. Customers are now purchasing their travel services through discounted travel websites and directly with airlines and hotels skipping commissions.
Photo Processing Stores
Online photo services are increasing because customers can now upload their photos and receive their prints in the mail within a few days at a much lower price. IBIS World is predicting a 5.7% drop in revenue in 2010.
What does this mean for me?
Is your industry affected by these predictions?
Will your industry be affected in the near future?
What are you doing to take your services online?
Wrap Up
There is no stopping the online train now. It’s been proven many times over that the early adopters are usually the most successful. If you do not shift with technology changes, it will shift without you!
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