Commercial

The commercial industry manages the trade in goods and services within facilities that involve large crowds of people in a public setting. Restrictions are not placed on the general public’s movement within the venue’s premises.

There are many facets to the commercial industry:

  • Retail
  • Lodging and accommodations
  • Entertainment in the form of sports, artistic performances and movies
  • Tourism, including gambling and tourist attractions like museums, theme parks and zoos

With the rise in infocomm proficiency and shift in consumers’ proclivity towards an internet-based medium, e-commerce has begun to reshape the commercial industry. A virtual store gives users access to the world’s range of products, while applications like AirBnb have entirely redefine the accommodations business environment.

Brick-and-mortar stores have also benefited from the integration of ICT, opening up new ways of managing both the back-end of business – in inventory tracking – and the front-end of business – in more effective communication channels with customers.