The New Frontier – Digital

Every year, we hear of some new business that’s disrupted the industry by going digital. From Uber / Grab replacing traditional taxis to Airbnb replacing traditional accommodation options. Another example is Netflix and with Redmart set to replace grocery stores.

What has made it possible for this shift? While it is easy to just link the shift to the development of technology, there are other factors that definitely contributes to the rise of these digital businesses are doing so well. With the Singapore government spending around S$2.8B on info communication infrastructure and programmes in 2016, not only are more areas in Singapore getting 4G coverage, many people are getting faster connections too. New players in the telecommunication industry like MyRepublic and CirclesLife, Bigger players are hard pressed to provide more value in order to stay relevant and hold on to their market share. With all these changes and benefits, its easy to draw the link to the increase in everyone’s online activities. What can we expect? Apart from these, the internet has also made a massive impact on consumers in today’s society. From information gathering, analysing differences in competitor products and getting customised products from other countries, something that might have been impossible before the internet was invented, businesses that do not adapt will find it hard to retain their customers. As consumers get smarter, businesses have to find interesting ways to reach out to potential customers with customised advertising and deals in order to achieve the best results.