Chapter 9 Summary
I was already really familiar with buying things online and apple wallets but I never thought about the specific categories of e-commerce or the mechanics behind companies making their money. It felt like something I needed to learn , for example that businesses can be grouped into sectors like business to consumer b2c and consumer to consume c2c. I also learned that companies with both physical storefront and a website are called bricks and clicks. As someone who buys a lot of games, it was cool to finally have a name for the different types of businesses I interact with on the regular, whether I’m buying from a major digital storefront or a private seller.
What really stood out to me in this module was how these models affect my own spending habits. I realized that the subscription models I use for entertainment and gaming are a specific revenue strategy often combined with advertising to maximize the profit. I also learned about near field communication nfc which is the short range tech that allows my electronic devices to interact for payments. Knowing that digital wallets allow merchants to collect data about what i want to buy make me want to be more mindful when im at the checkout.
Finally the section on the value to weight ratio explained why I often pay so much more for shipping on some things. I get now that the large and heavier products with low prices are harder to sell online because the shipping is more expensive than the products itself this chapter really opened my eyes from being just a customer to understanding the actual business logic behind the scenes.
It is much easier to read on a screen if you keep the paragraphs somewhat short!