Tuesday, 19 January 2016

5 ways technology will disrupt commerce

In the final flurry of Christmas shopping last year, a buyer in Miami snapped up a new, 18-carat rose-gold men’s Rolex watch for $29,000 on the eBay iPhone app. The watch, which sold at 9.30pm on Christmas Eve and came with free one-day shipping, may have made a welcome last-minute gift for someone.

It was just one of the over 100 million items we sold via mobile on our platform between Thanksgiving and Christmas. The transformative effect of smartphones and tablets, not just on our business but also on the entire retail sector, has been staggering. Nobody understood the degree to which these devices would explode distribution and access points, and fundamentally change commerce.

The mobile phenomenon demonstrates how interwoven technology and commerce have become. But what we’ve seen is only the beginning. I believe we are standing on the brink of another secular shift in technology, a new age of connected commerce.

I anticipate over the next five years, we’ll see the impact of five trends that will further re-order the commerce landscape. These trends are: the age of everywhere, truly global trade, virtual reality as a retail tool, on-demand inventory and supply, and sustainable shopping.

  1. The age of everywhere
  2. On-demand inventory and supply
  3. True global commerce
  4. Virtual reality gets real
  5. Sustainable shopping gathers momentum

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