Digiralization of business: Transformation of customer relationaship strategies

Оleg Havryliuk

E-Forum Working Papers, 2020, vol. 10, issue 2, 81-86

Abstract: The dynamic of globalization constantly generate new problems and tasks concerning the methods and tools of fundamentally quality business operation, interaction with customers in all spheres of production and provision of services, creation of «smart» technologies. Global trends of nowerdays include digitization of all spheres of life and rapid growth of e-commerce. However, traditional direct retail based on real business visualization is not losing its relevance and is developing. Large companies and brands have launched new approaches that practice the symbiosis of both segments. Consumer relationship strategies are constantly being modified, especially depending on socio-economic stability and market fluctuations. The article explores the latest trends, strategies and consequences of global digitization in the context of the phenomenon of «experience economy» and new opportunities to ensure effective relationship with customers. The examples of the experience economy (agrotourism, handmade cooking in restaurants), as well as buying emotions by the rich peopled are described. Three newest trends and mechanism of functioning of e-commerce are analyzed: opening of traditional retail shops, usage of franchising and creation of unmanned automated supermarkets without personnel. Modification of strategies and their perspectives based on socio-economic stability and consumer sentiment are analyzed particularly in the context of the current coronavirus outbreak. It has been shown that the worsening of the situation and the uncertainty of further course of events naturally causes the transformation / correlation of strategies towards the online

Keywords: digitalization; business strategies; online and offline sales; innovation; customers; infrastructure; coronavirus (search for similar items in EconPapers)
Date: 2020
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