Changes in technology radically affect the way we do business. How we communicate, research, buy, and receive products/services shifts with technological trends.
Changes in habits and what gets our attention are largely dictated by technology. This fundamentally influences how we behave, and particularly what we buy.
Examples
Personal computer
The advent of PCs marked a major change in the way households consumed media.
e.g. video games and computerised books meant more screen time for families, and less time reading physical books. This changed the encyclopedia sector with major brands converting their printed bestsellers into digital.
Internet
The connected World Wide Web made sharing information instantaneous and almost limitless.
e.g. emails meant that written communication could be sent and received in the blink of an eye and search engines replaced libraries.
Smart phones
Mobile internet access and the rise of social media apps has led to significant proportions of our daily activity happening via smartphones.
e.g. WhatApp, SnapChat and Instagram are dominating the time people of all ages spend using smartphones.
eCommerce
Purchasing products and services via the internet has become a normal part of daily life for most.
e.g. hotel booking, fast food delivery etc.