Digital Business: Key Trends, Models, Collaborative Relationships, and Crypto Currency Impacts

Digital business

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Key trends and advantages of digital technology and its implications for managing of virtual
business........................................................................................................................................3
Digital business models for the business issues such as cyber security and ethics.....................5
Impacts of new collaborative relationships and strategic alliance through digital technology.. .7
Impact of crypto currency and thoughts on El Salvador's legal tender adoption........................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Digital business is the process of applying digital technology to reinvent business models
and transform a company's products and customers experiences. E-commerce is also a form of
digital business which is the buying and selling of goods and services over the internet through a
website. ASOS is the chosen organization for this report which is a UK based British online
fashion and cosmetic retailer. This organization was founded in 2000 and sells over 850 brands
on it website. In this project an overview of the key trends and advantages of the digital
technology and its implication for the management of the virtual business in the global
environment will be discussed. This project will critically evaluate the new and emerging digital
business models in the content of the key business issues such as cyber security and ethics used
by ASOS. This project will be evaluating the impact of the new collaborative relationships and
strategic alliance through digital technology for the chosen organization. In this project the
discussion on the crypto currency like Bitcoin and its adaptation as the legal tender will be
discussed.
MAIN BODY
Key trends and advantages of digital technology and its implications for managing of virtual
business
Some current trends that has been identified as the reality to the online shopping in the E-
commerce sector are,
 Augmented Reality also abbreviated as the AR has been started to show how it can
influence the online shopping experiences of the customers (Astuti and et.al., 2021). AR
has the potential of changing the shopping experience in specific industries. This is the

feature which helps the customers get the experiences of feeling the product without
having to actually see it.
 Searching of items on the e-commerce websites through voice search has been a very
commonly used feature that has been trend for quite a long time. Smart speakers have
been used as the current trends for the enhancing the experience of the customers through
voice search options. This allows the customers to search their needs for shopping
products with the help of a voice command.
 Artificial intelligence has been started help the shoppers in learning about the ways in
which they can use e-commerce websites (Limone and Toto, 2021). AI machines has
been able continuously collected data from the customers for providing them with the
recommendations and for what they are looking for on the E-commerce website.
 On site personalization has been a very effective trend that has influenced the growth of
individual experiences for the E-commerce customers. This personalization is the most
important for influencing the experiences of the customer including both B2B and B2C.
This personalization feature
 Introduction of new ways of payments has been yet another mind-blowing trend that has
taken into effect in the e-commerce organization. As for the current trends the use of
crypto currency has been considered in the market and thus, the business has been able to
introduce the transactions through this method.
 Development of e-commerce subscriptions for bring back the customers again and again
through offering them discounts and offers. This trend of subscription has allowed the
company to bring growth into the organization which allows the business in the
management of the organizational operations (Jang and et.al., 2021).
There are two types of benefits of digital technology in E-commerce which can be
explained with the help of the following table,
Tangible Benefits Intangible Benefits
Digital technology is the reason why the e-
commerce businesses are able to increase their
sales.
With the help of digital technology the
corporate image communication of the brand is
enhanced.
Digital technology helps in the expansion into This is known as the factor which is