Digitalization is the transformation of a business model using digital technologies in order to increase revenue and value-added opportunities. It is the transition to a digital business model. The term “digitalization” refers to the process of using digital information and technologies to simplify, expand, and convert business operations in order to change how companies operate the business and boost productivity. eCommerce and online distribution are rapidly rising businesses as a result of digitization. It is hardly surprising that businesses that had previously only engaged in retail sales will now offer their products online.
1. Advanced payment service
Therefore, an e-commerce platform must have a quick and simple payment process. The preferred method of payment typically differs by area. For example, although credit cards are common in Canada and the US, debit cards and digital wallets are preferred throughout Europe. Even while the economics of developing countries are still mostly cash-based, they are rapidly moving in digitalization’s direction.
2. 24/7 online presence
Tablets, laptops, and smartphones have become increasingly popular, and their use has made them an essential part of daily operations for businesses. According to research, more than 90% of mobile device users always keep them nearby. As a result, focusing on these mobile devices opens the way for the expansion of the e-commerce sector. The worldwide mobile e-commerce market is growing as a result of the advancement of better internet networks, which have raised the digital experience to new levels. Customers can easily shop whenever and wherever they want. E-commerce platforms now have the ability to be active on the market and make sales around the clock thanks to digitalization.
3. Attract customer attention and improve engagement
Businesses now have the ability to draw clients’ attention right to their home screen. Push notifications are used by many shops to let customers know about future deals and events. These push notifications, which appear on clients’ mobile devices or on the company website, are an excellent method to stay on customers’ minds.
4. Stay ahead of the competition
For a business, being competitive in today’s market means being the first to engage customers through technical innovation. Collaborating with a mobile app or website development for your e-commerce business, you’ll be able to outperform your competitors and enhance your position. You can benefit from this by using it as a sales and marketing tool. Additionally, it will promote the brand and broaden its recognition.
5. Building trust
In a world that is always on, always connected, and 24/7, digitalization allows businesses to have integrity in all of their actions, which is essential for customers. Depending on the online platform, digitization gives businesses the ability to inform their customer of any changes in advance, which customers trust. As a result, trust is strengthened since it enables businesses to respond in a sincere, genuine, and responsible way.
6. Reduce business cost
Savings and resource optimization are the first and most noticeable advantages of digitization. Companies are employing their digital transformation activities to improve resource utilization and introduce efficiency, which has a direct cost impact.
7. Increase profits
Businesses that transition to digitalization become more productive and profitable. Reflect these results provided by the SAP Center for Business Insights and Oxford Economics:
-After completing their digitalization, 80% of businesses report higher earnings.
-It is claimed by 85% that market share has increased.
-On average, leaders expect 23% higher revenue growth than competitors.
Conclusion: As we can see in the above articles, the e-commerce industry has been significantly impacted by digitalization. This is the reason why every business must have their thought on doing their eCommerce platform through digital today. Having your own website or mobile app eCommerce is not a trend but it is a revolution in the digital age which continues to expand in the future! However, if you are looking for a professional IT solution company to help you develop your eCommerce Platform, we recommend one company named Coolbeans Digital. They know very well about building eCommerce platforms and they can fix every curve to make it perform better. Say Hi now so you don’t miss a good opportunity to collaborate with us!
Coolbeans Digital is a leading tech solutions agency focused on development with beautiful and modern design principles. We are specialized in providing tech solutions to all kinds of businesses involving mobile app development, website development, and ux/ui design in Cambodia.