The Internet Retailer Conference and Exposition (IRCE) is an annual tradeshow hosted by Internet Retailer. In keynote sessions of CEO’s from Walmart and Barnes and Noble, along with Fareed Zakaria from CNN, we listened to some of the top retailers and thought leaders views of what’s to come in the next generation of ecommerce.
Optimism for the US Economy
“How E-commerce is Poised to Lead the Global Economy” was a talk given by Fareed Zakaria from CNN. He opened the talk with the claim to make the case for optimism. And he didn’t disappoint. Fareed covered the economic history of America. His three key arguments for leading the global economy: political stability, economic convergence and technological connectivity. In terms of political stability, death due to war has actually decreased 70% over the past 50 years. The global economy has allowed more countries to participate. In 1979, only 32% of all economies grew at 3% or more. Today, 90% of all economies around the globe are growing at that rate. Technological connectivity – and social networks – have collapsed the cost of both economic and political participation. Yet, the world is in infancy of this technological revolution.
America still dominates in the global economy. The combination of our University education, our continued population growth of 3M a year, the expected resolution of the housing crisis and the ability to innovate—“figure out what the customer wants and, using technology, change the customer experience” will hold the United States in the forefront. “Ecommerce is innovating from the bottom up to create collective changes in reality and US retailers are leading the way.”