Can the service sector lend itself to the Internet?
Consider the banking sector. There is this pensioner who goes to the bank to collect his pension every month. For him, it is a big event. He goes to the bank, has a chat with the banker and has an eye-to-eye contact. So, in the case of a pensioner, Internet retailing may not work. However, the younger generation today is much more computer-savvy. Already most of them are using the ATM extensively. Banks can obtain a database of customers to whom they can offer better services. Say, 20 per cent of customers of a bank account for as much as 150 per cent of its profits. Banks can target these customers and offer them free services through the Internet. Do you think the Internet can work in things such as retailing? Before selling on the Net, one must take care of three things – time, cost and quality. Wherever opportunities lend themselves to the Net, the Internet will be successful. Probably, in the case of medicines the Internet may be successful. Take the case of a diabetic or a blood
