[RC_ITR]

I think you’re being very short sighted.

“Retail” is just the part of commerce that’s somewhat moved online today. “E-commerce” is any type of commerce moving online.

I really struggle to think of reasons as to why people will pay for software if it doesn’t ultimately lead to commerce.

EDIT: For context, BABA used it e-commerce lead in China to become the largest gateway for utility bill-pay. Very much not retail, but still e-commerce. The internet is a tool run by humans to serve humans, & if humans aren’t transacting using the internet, everything else about the internet is inherently less valuable.