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What is Digital Commerce

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1.  What is Digital Commerce (DC)

 

There are 2 definitions of Digital Commerce on public media and other authoritative

Sources

 

      I.        The use of eCommerce services to sell only digital products e.g. books, videos etc

    II.        The use of Digitalisation technology to enhance functions of eCommerce in selling of goods and services online. This includes the likes of autonomous transport systems to deliver goods, IoT devices e.g. robots for packaging, Digital Marketing and ERP for financial integration. There is full automation in Digital Commerce

 

Our solutions relate to item 2 above

 

Digital-Commerce is much more than eCommerce. While eCommerce involves online advertising, online transactions and managing deliveries online DC on the other hand comprises marketing, selling, servicing, research, development, and procuring products for all types of platforms comprising social networks, desktops, mobiles, etc.

 

2    Digital Commerce (DC) in Business

 

Services are also delivered in the digital commerce model, and SaaS (software-as-a-service) applications are just one example of digital commerce’s utilization in business.

Broadly, digital commerce in the business environment works across these categories of business models:

·         Business to Business (B2B)

·         Business to Consumer (B2C)

·         Business to Employee (B2E)

·         Business to Learner (B2L)

·         Consumer to Consumer (C2C)

·         Business to Government (B2G)

·         Government to Citizen (G2C)

·         Government to Government (G2G)

·         Peer to Peer (P2P)

3    Benefits of Digital Commerce

3.1        To Drive Visibility

Today, the buying journey is completely channel-agnostic. Consumers prefer seamless transactions regardless of the platform. For businesses, this means multiple opportunities to become visible to consumers such as social media, market places, brand websites, apps, and more. This, in turn, leads to multiple sales opportunities.

3.2        To Build Legitimacy

Some research reports that nearly 70% of online consumers look for social proof for Companies that are genuine, authentic or legit. Digital commerce helps companies gain authenticity through social media, reviews, and relevant content.

3.3      To Generate More Sales

With omnichannel strategies, digital commerce drives more sales with increased visibility. Businesses that leverage trends in online buying (and provide specific, customized purchase options) see an increase in sales.

Companies are racking in +6 figure revenues using DC

 

It has been proven that DC sales revenues can increase 230% of traditional selling.

Here is research done by Arka https://www.arka.com/blog/how-much-money-make-ecommerce-store

 

4    Operational benefits 

Businesses can provide the following services online among others using Digital Commerce

 

      I.        Online Courses

    II.        Online learning

   III.        Online Careers guidance

  IV.        Online Shopping

    V.        Online Marketplaces

  VI.        Online marketing

 VII.        Online Reservations

VIII.        Online Procurement

  IX.        Online Auctions

    X.        Online Membership

  XI.        Online Marketing

 XII.        Online Event Bookings

XIII.        Online Transport Management

XIV.        Online Surveillance

XV.        Online eGovernment 

XVI.        Online eMunicipal 

XVII.        Online eHealth 

 

 

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