The future trends in a digital economy will include both consequences and opportunities. The question is… will you be resilient to potential job loss, and be ready to take advantage of the new job and business opportunities that come available?
As major car companies, retailers, and many other industries go through global restructuring to be more competitive, they continue to close plants and brick and mortar stores – are laying off thousands of people – while ecommerce businesses continue to grow exponentially. This is further proven by the slow demise of Black Friday, where only 44% of U.S. consumers say they plan to shop as much on Black Friday this year as they did last year, according to a survey from Deloitte. Cyber Monday in 2018 had its biggest internet shopping day in history. Shoppers are bypassing the crowds and lengthy in-store lines and opting instead to do their holiday buying online.
According to USA Today, citing eMarketer’s forecast – China’s online retail sales are expected to grow 7.5% to USD$5.6 trillion, while sales in the U.S. are seen to increase 3.3% to around $5.5 trillion. China will make up for 55.8% of global online retail sales by the end of 2019. We all need to be better prepared to transition out of the old economy, and take advantage of the new digital economy – to get your online piece of the pie.