The digital technologies that are changing commerce

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The emergence of the internet has changed the retail industry, giving rise to new business models in the sharing or collaborative economy. The period of 2010-2020 saw rapid technological advancements, leading to the development of an ecosystem of digital technologies on smart devices. However, many small and micro stores were hesitant to adopt these technologies due to lack of expertise or resources. The Covid-19 pandemic forced a radical rethink of business models, with small businesses in the retail sector compelled to adopt digital tools to engage with consumers. Digital transformation has become essential for the growth and sustainability of businesses. The adoption of digital technologies can lead to better communication between businesses, suppliers, and consumers, and potentially reduce operating costs. It also raises questions about the coexistence of small businesses and multinational enterprises, and how small businesses can benefit from digital technologies.