Changing internet trends: Opportunity in disguise?

Mon, 18 Jul Pre-Open

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In today's world, "Internet" has become an integral part of almost every Indian living in the urban. In the international context, however, internet is a virtual lifeline for many individuals and organizations. It is said that you can survive a day without food but not without internet connection. And rightly so, after all, with internet any information or data is just a click away.

As per Wikipedia "Internet is a global system of interconnected computer networks that use the standard Internet Protocol Suite (TCP/IP) to serve billions of users worldwide"

With increasing importance of internet in the corporate world it is worthwhile to take a look at few trends that could probably change the way business is being done, especially in the Indian context.

Right now, India has about 100 m internet users. And as per Mckinsey & Co this figure is set to triple over the next four years. Larger online population would mean that the communication medium is set for a change. Interaction between customers and business associates may witness a paradigm shift.

Now, let us take a look at few emerging internet trends that may offer new business opportunities, change the way existing business could be done and the way business-client interaction would evolve in future.

We know that India's mobile growth story has been really impressive. But the mobile phone which an average Indian uses is not fully compatible to access internet. Smart phones fill up this void. And with increasing standard of living smart phone penetration is expected to increase. It may be noted that smart phones allow a complete web access enriching the user experience. Further, accessing internet through smart phones offers huge amount of mobility. Again, today in India, majority of the people research the products online and buy them offline. But with increasing mobile as well as internet penetration online shopping through internet would gain traction. However, this would take time as Indian customer is a bit hesitant in shopping online for quality issues. Over time, if quality is assured, this mind set would change.

Cloud computing services are popular in many parts of the world due to their cost effective nature. As broadband penetration in India increases the use of cloud computing services would also increase offering new area of growth.

Lastly, the role of social media has been increasing in India as well as globally. Micro-blogging services such as Twitter can be used to share important feedback about a product or a service. Users can directly share their experience with prospective clients. This should effectively keep the corporate's on their toes as negative publicity can impact the future growth prospects.

Thus, changing internet trends could possibly be an opportunity in disguise. Corporate's who are ahead of the planning curve would be able to capitalize on these trends that would enable them to stay competitive in the longer term.