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:
- 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.