Mobile Technology Makes the World Go Round!
By AlpLocal News
January 17, 2020
NEW YORK – Money makes the world go round, has been the top financial thought for many generations.
Today, there is a paradigm shift in the real world of global economic growth. New technological developments have come online to support local and global business. Money may still make the world go round, but technology has reduced its influence as a driving force for economic growth.
Mobile technology makes the world go round … faster! Even in countries with less than 3 million inhabitants, the use mobile technology has grown significantly.
Botswana, for example, with less than 3,000,000 people, had a little over 13 mobile phones per 100 people in the year 2000. By 2019 that number was over 150 mobile phones per 100 inhabitants. That’s more than one phone per person! Many cellphone users have two or more.
In Lithuania, with less than 3,000,000 people, there were 15 cellphones per 100 inhabitants in 2000. By 2019, there were 164 mobile phones per 100 people. WOW! That’s more than one phone per person, with many having two!
What really makes the world go round … faster, is the rapid changes this technology makes possible. With mobile technology at our fingertips, the way we live has quickly changed.
Once, we had to go to the grocery store or pizza shop to purchase food. Now, we can simply pick up our phone, tap an app, place our order, pay and it’s delivered to our door (many times within an hour).
Large retailers have found their retail sales world slowly and steadily stopping the spin cycle, even coming to a complete stop. Their failure to adapt to new technologies has proven to be the catastrophic game changer for their business and their bottom line. Small and medium sized businesses are also feeling the pinch.
AGNLife.com reports … in 2019 there were over 9,300 closures of global brands. Proof that the retail apocalypse of 2017 (700 closures) continues.
Brands like Party City (55), Fred’s (520), Family Dollar (390), Gap (230), Sears (175), Kmart (160), Victoria’s Secret (53), Walgreens (200), and Payless (closed all 2,500 stores in 2019) announced store closings in 2019. In fact, these brands and many more are setting new records for store closures in a single year.
Technology coupled with adapting to new and innovative marketing can help stem the tide of local and global store closures. Small and medium-sized enterprises (SMEs) can utilized modern technology, including mobile technology to help grow their business.
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Written by
AlpLocal News Team
