Technology is something that always keeps on evolving, and over the years, it has been transforming in different shapes we have seen in history that it has been something that has affected almost every sector of human life, it be the nesses that something which has had a lot of things that they need to adapt to stay up with all of the changes and, there are a lot of businesses who were not able to do that and that are one of the reasons why they might have suffered a lot.
Technology can be used in the best form and also can dominate in their respective Industries when there are a lot of other businesses that might fail to evolve, and something can happen with them, such as they are just disappearing out of the market well and that has been something which has happened over the history as well, and we are seen that happened quite a lot of time and even in the modern day we always keep on saying a lot of such examples with which we can see companies dominating the market with the help of technology and also a lot of companies vanishing out because they failed to adapt.
Digitization is one of those things that has happened quite very Rapidly, and that has been one of the reasons why a lot of businesses had to evolve their marketing game to the very next level and that has been the reason for the sudden growth of a lot of companies and also a message boost to many businesses but at the same time there were a lot of traditional retailers who suffered quite a lot because of it because they were involved in a lot of such factors which they didn't pay much attention the trends and perished because of their own decisions and also the things that it that point of time when they could have done something differently.
What are the best example of the best benefit of the digital Era is Amazon itself, which is one of the most successful stories of the digital world it started as just a simple online book store, but it just changed itself completely and started to adapt with all of the changes that happened in the technology aspect and also step into the E-Commerce business and now it is dominating in multiple industries which spins itself from a lot of things that includes itself in online retailing as well as also cloud computing.
One of the best things that Amazon did was the early adoption of the digital era. It started to realize the potential of the internet much earlier than the other retailers who were still focusing on their offline marketing, and that is when Amazon started to shift away from the trend that was followed at a very big scale and the website that Amazon offers something that many people like and it also give it a very big comparative edge Over The Other competitors in the market.
Providing one of the best customer services was one of the key aspects that Amazon faced towards achieving, and that is what they always kept on making sure of by allowing a lot of other options that people can choose from and also have better customer service such as their Prime membership which also gave a lot of perks, apart from that one of the best things that they did was innovating the first thing that they could see and the thing that they mentioned and also worked up on the most was Technology itself and utilizing a lot of things which is automation Robotics as well as artificial intelligence in the modern days I have also enhance their entire capability of working and in the end that has given a lot of good outcome for them as it is one of the most valuable company right now.
And now, if we talk about a business that tried to get itself adapt to the technological changes that happened in society itself in the digital era, one of the names that pop up in our mind is going to be Blockbuster. It used to be the Undisputed leader in the entire world with over 10000 stores and also the leader in renting videos because it was the king of the entertainment industry, but it failed to keep up with the technology and the changes that it brought.
In the year 2000, Netflix which was a small DVD rental at that point in time, came up with Blockbuster, and it offered to sell its business to Blockbuster for nearly 50 million dollars but they did say that customers were always going to be looking forward towards physical stores rather than online rental and this was the potential opportunity that they had back in the year of self when they could have got into the digital technology and get themselves involved in the streaming game but they didn't do that at that point of time, but it was something that etherealizes later, but till then it was quite late.
Netflix came up being a strong Contender on this aspect and allowing customers to have unlimited access to all of the mediums online for just a monthly fee without any hassle of going to a physical Store or something that was appreciated by customers and slowly, Netflix started to capture a very big part of the market itself and then blockbuster realized that day also need to get back into this particular aspect and for that they started their streaming platform in 2010 but till then it lost its dominant position in the market.
One of the biggest reasons for the downfall of Blockbuster has to be the ability to not capture the right moments and also be rigid against the trends in the market as well as not embarrassing the digital era, and that was the biggest reason why the they collapsed and by 2013 almost all of its stores have shut down, and the company has completely lost it's charm and now it is something that is just story of the past.
Resisting change can be something that can be a very big neglecting factor for a lot of aspects, not just for businesses, but when it comes to opportunities, we must think about it quite a lot and just finish them with all of the things that we can do and sting relevant in the market will only we happen if we are adapting to all of the changes because we can't be completely focusing up on ourself and Monopoly does not last forever.
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