On April 2nd 2008, ITunes surpassed Wal-Mart and established itself as the number one music retailer in the U.S. This historical event marks a serious transition from the use of record stores distributing music to the use of technology to buy ones music. The benefits of buying online are obvious. It takes away the hassle of having to get in your car and go the store and purchase music. All your needs can be fulfilled with a few clicks of the button. ITunes and other online sources for goods and services have eliminated the need for customers to have to leave their homes and wait in line for the item they wish to purchase. They also eliminate obstacles such as shortage of supply by having an almost unlimited amount of quantity supplied due to the fact their item is either digital or shipped directly from its origin. Online markets such as ITunes, Netflix, and Amazon have dominated customer’s preference of shopping for the past years with % of shopping being done online. Is this new sudden demand for goods online good for our economy? Recent studies show it’s resulted in several companies filing for bankruptcy. Companies just can’t compete with the convenience of online shopping and stores such as Tower Records, Blockbuster, and Borders Books have been forced to go out of business. There isn’t room for stores of tradition like these in our modern society of the internet and technology. The demise of these establishments causes loss of jobs and with one out of five Americans being unemployed is this really what our economy needs? How far can technology help us until it ultimately destroys us?
Will Noble, Andrew Velvin, Cameron Casey
Will Noble, Andrew Velvin, Cameron Casey
information: http://www.modbee.com/2011/02/21/1566740/online-shopping-hurts-local-economy.html
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