Digital Transformation is present everywhere, from the corporate market to consumer goods. Understand how to surf this wave that only tends to grow
More connectivity. More mobile devices. Two years of social isolation and restrictions. It is the ideal combination of factors leading to, among other things, a remarkable increase in consumption by digital means and of digital products. That’s right: is not only the online sale of physical products increasing but also the demand for products of a digital nature. Games, apps, streaming services like HBO Max and Amazon Prime Video, just to name a few, are the new products of the moment, the consumer goods that are changing the face of the market.
Why, after all, are the so-called digital goods growing so much? In addition to the factors mentioned above, it is fundamental to remember digital transformation, the phenomenon of accelerated digitalisation of society and business, with the adoption of new technologies, practices, and tools based on digital products. With more resources and more processing power embedded in mobile devices and wearables, as well as more connectivity in electronics, the demand for applications of all kinds only increases.
Today it is perfectly possible to play games on mobile phones in a virtual environment shared with PCs and consoles; it is a commonplace to count on the assistance of virtual assistants like Alexa, connected to TVs, refrigerators, and more. And this highly digitalised environment encourages the consumption of products of the same nature.
New products for a new world
Unsurprisingly, the enabling environment for this type of product has generated a wave of offers on the market, easily accessible through stores such as Google Play or the App Store, as well as websites and internet distributors. While this ample supply is excellent in generating competition and always brings a renewal of better and better products, it can also create some insecurity for the consumer.
Where to buy from? Which platform is more reliable and practical? Where will my payments be more secure and agile? In seeking to answer questions like these, the potential customer naturally goes in search of stores that offer great products and a good shopping experience.
From a good interface, with clear and precise information, through a robust and stable selection and local payment systems in local currency, to fast and uncomplicated product delivery. The most successful companies in the digital goods market today combine these characteristics, providing a good experience and delivering quality digital products.
Greater accessibility and democratization
For those seeking success in this market, it is clear that digital goods are an excellent option to explore. Easy scalability, no storage and logistics costs, almost immediate delivery, sales to distant markets are some of the many advantages that attract entrepreneurs to this sector, which should continuously show growth trends, even more so with the arrival of 5G, which will further strengthen both online shopping and digital goods.
In 2020, the tendency of social commerce had a high increase, with potential buyers relying on reviews and trusted voices, especially of influencers, to decide about purchases. Social media platforms are being more used to look for products and create the buying desire, making the clients more secure about their decisions.
With a higher range of product options, the audience of potential buyers grows and to leverage this opportunity, merchants should offer payment methods and currencies that reach a wider public, thus leading to more purchases.
With much different consumer behavior, the audience needs and expectations go further than just product preference. Many give up on orders once they find payment methods that don’t fit their necessities. Whether for not allowing easy visualization of the final price due to not having a local currency, offering few options that enable them to pay or other payment-related reasons. For example, companies that only accept international credit cards are losing an enormous share of the population that could be consuming their digital product but can only pay with local cards or local methods like PIX in Brazil.
Therefore, in addition to thinking about a good portfolio of digital products, it is highly recommended for the entrepreneur in this sector to also create a friendly and reliable environment to make their sales and manage their after-sales, ensuring that customers are really satisfied from the moment of payment, favoring loyalty.
Do you have a good product but don’t know where to start? Then download our exclusive guide to learn more about our the potential, the trends, and the challenges of selling digital goods in Brazil and how to expand your business: