You know, when the dot.com bubble burst, I was not surprised.
At that time, I put my view on a chat-room discussion.
My impression was, that the dot.com businesses were like a shop, but able to
reach a lot more customers, without overheads of a brick-and-mortar shop,
but with huge costs in having a bandwidth (that's how it was in those days in
1990s, hardly ten years ago).
Today, the concept has been fine-tuned, and it's possible for everybody to have
an on-line store, at an affordable cost. Rather like I have this blog,I could put a shopping cart which accepts Paypal payments, and it's set to trade.
Similarly I heard today on TV that Facebook is the new High Street, where all set
up shop and trade.
Interesting fact : 1 out of 3 orders are placed via mobile phone while the shopper is in a store comparing prices, so price-transparency becomes of prime importance.
I popped in at the local hard-ware store the other day and bought an item for £1.50.
I could have bought the same item for £1.00 on-line, but there was the postage and packing of £2.48 to consider.
If bricks-and-mortar shops keep closing, so many people will end up losing their jobs that in the Digital Economy we'll all be sitting at home in our pyjamas comparing the best deals but then seeing no need to buy anything. We may as well switch off the computers and go to the real shops.