Going digital and its effects on international business

[Ayuba Ernest]

Businesses have always been affected by the economy, and when there’s a recession, businesses feel it more. The global recession of 2009 had a significant impact on international businesses. Suddenly, people were buying less, and companies had to find ways to stay afloat. For international businesses, this often meant going digital.

The internet has made it easier for companies to connect with new customers all over the world. It’s also given companies the ability to sell products and services online, which has led to a increase in international trade. In fact, e-commerce is projected to grow by 20% by 2030.

There are a few reasons why companies are increasingly turning to digital tools and platforms to conduct their business. Firstly, the widespread use of the internet and mobile devices has created a global audience for businesses to engage with. Secondly, technological advancements have made it easier and more affordable for businesses to communicate and collaborate with stakeholders around the world. And thirdly, digital platforms provide opportunities for businesses to expand their reach and grow their customer base.

 

[Jasz]

Going digital is one of the biggest trends in international business. It's already been recognized as a major factor in the growth of e-commerce, but it also has an impact on other areas such as global supply chains.

Companies that incorporate digital technologies into their operations are able to reduce their logistics costs by up to 20%. This means that they can offer their customers lower prices and make more money while doing so.

When companies use technology to improve their supply chain processes, they can reduce inventory levels more than 50%. This reduction in inventory levels can lead to huge cost savings for the company, which can then be passed on to consumers through lower prices or other benefits.

Another benefit of going digital is that it helps improve customer satisfaction with products or services. When consumers use digital tools like mobile apps or websites, they are able to interact directly with brands instead of working through intermediaries like call centers or salespeople at retail locations (which has been shown to lead to increased satisfaction).