What Are the Positive Effects of the Internet on Business?
by Dianne Heath – Updated September 26, 2017
Before the Internet, businesses often found it difficult to connect to customers, speed up their service and carefully watch the business climate. The Internet has revolutionized how business is conducted and has helped create a more efficient market. Forrester Forecaster has predicted that 8 percent of retail purchases will be made online by 2014. Forrester Forecaster also reports that retail sales online totaled $155 billion in 2009.
The Internet has allowed businesses to create communities for those that share similar interests in products and businesses. These communities help businesses develop their brand and create a positive image. Businesses are able to customize products or services with ease, which increases the satisfaction of the customers and increases profits. The Internet has enabled business to obtain valuable information about the interests of certain demographics. Consequently, businesses are also able to effectively use targeted advertising by appealing to specific publishers and media that are specifically related to their product or service.
The plethora of information on the Internet enables businesses to learn about trends that may affect them, observe consumer behavior, discover products that could enhance their service or business and increase their knowledge of the industry. Information that used to be reserved for the most influential people in the industry or academics is now easier to find. The information also helps the consumers find products and services that are suitable for them. The amount of reviews and information about businesses on the Internet helps consumers feel more in control and comfortable with making a purchase. The speed of accessing information on the Internet increases the rate of decision-making of both consumers and businesses and saves time that can be used for productive activities.