This post was written by Ralph Starks, a blogger and traveler who enjoys exploring the world in the best ways possible.
The online world has driven many industries to new heights. Even booming offline industries have found massive value from prioritizing their online operations. With few exceptions, every business owner understands the value and importance of crafting a solid digital footprint. Some industries have benefited more than others by going online.
Let’s explore some of the industries that have thrived online.
1. Gambling
Gambling has always been big business, but there are only so many people you can cram into a brick-and-mortar casino. This is why casinos have long invested in other aspects of the entertainment experience, such as hotel rooms, buffets, bars and shows.
The introduction of the online casino has been a game-changer. Now you can take advantage of a Betway casino bonus code from the comfort of your sofa. The loosening of online gambling laws is quickly raising the ceiling on profits within this industry. For a long time, gambling was primarily only possible on Native American land and within Las Vegas and Atlantic City. Online casinos have made online gambling accessible to millions of new players.
2. Retail
Retail has been one of the big beneficiaries from the shift to online. Traditionally, retailers relied on several factors to encourage shoppers to come through the door, including the weather, the competition and even parking availability. Land-based retailers needed to cover the high overheads of a physical storefront and a team to manage it.
Online retail, or eCommerce, has made your friendly neighborhood store owner an international business. With the power of online retail, every retailer is 24/7, increasing convenience and the chances of impulse buys. Today, more and more retailers are closing their offline sites and moving everything entirely online. Take Amazon as an example. They’re a near-exclusive online retail operation and reported a record $469.82bn profit in 2021.
None of that would be possible if they relied on a shopping mall outlet to do business.
3. Banking
The banking sector has thrived since going online. Previously, carrying out banking activities required visiting an outlet during business hours or making a call. Since the banking sector moved online, every bank has its own app that allows you to manage your finances at any time of the day or night.
It has also led to the rise of challenger banks and other payment processors, including PayPal and Wise. Banks have managed to widen accessibility worldwide and to develop a variety of new services to support their customers remotely.
4. Training
Training has always been an essential part of improving an employee’s skills and taking advantage of new talent. A constant commitment to improvement enables individuals and businesses to take their skills to the next level and bolster the value they provide.
Traditional training courses required in-person sessions that were not only disruptive but expensive. Online training has brought down the overall cost of courses in every niche and made them more accessible to the average person. It has allowed millions to learn hard skills like writing, web development and graphic design, and soft skills, such as management and communication.
5. Travel
The travel industry has gone through several changes over the last 20 years. Not only has the cost of travel come down, planning your trips has never been simpler. It’s now possible to visit every place on Earth within a lifetime using a selection of third-party online services.
Planning an overseas vacation to an exotic destination typically required the help of a travel agent. They would handle your tickets, hotels and activities. It was time-consuming and meant people usually had to book their vacations months in advance. The online travel industry allows people to plan their excursions in minutes at a fraction of the price. You’re no longer confined by a small selection of providers. The world is in your hands, no matter where you want to go or what you want to experience.
Platforms like Skyscanner, Booking.com and Expedia have pioneered the move to online travel planning. Of course, there’s still a place for physical travel agents for those who want someone else to handle everything for them, but it’s no longer a necessity. In short, online travel has opened the globe to millions of tourists.
Conclusion
Moving online has opened a whole world of possibilities for industries to pivot and unlock new markets. It’s benefitted not just businesses but consumers. Industries are no longer confined by standard opening hours or a limited range of services. There have never been more options. Handle your life at the click of a button or the tap of a smartphone screen. Which industry do you think has benefited most from going online?
