Today we are living in the age which is driven by digital technology. Everything is being digitalized and the credit goes to the Internet. Even the places which are dealing with the scarcity of food, water and shelter have the facility of internet in some way or the other. The web of the internet is growing so fast and widespread that even the most backward areas on earth are trapped in it. Digitalization is affecting not just the technology but also the lifestyle of people, their thought processes and their ability to make decisions. And this is where the business models take full advantage of the ever-growing digitalization in order to benefit their own businesses.
What is the impact of digitalization on the business of sports and fitness?
Digitalization has a very huge impact in the way in which the business of sports and fitness works. Today approx half of the humanity on earth is on some kind of digital platform. Be it social media or any mobile app, people have found a way to connect with each other with these digital medium.
Gone are those days when people used to go to shops for shopping sports good they required. Earlier the companies used to spend lakhs of money on locating massive hoarding on public places in order to advertise their product. People had to visit dieticians to get a proper diet plan suitable for their health. Previously, so many people avoided to do exercises simply because they had to head to the gym.
But things have started to change now. Many online websites are available to shop for all things related to sports and fitness that one can ask for. To advertise, companies have started using social media platforms like facebook YouTube, instagram, which are a very strong medium to connect with the customers of today’s generation. Also there are so many apps available for mobiles in which one can make their diet chart prepared for them via these apps. All they have to do is to fill up a form which asks for some questions related to an individuals’ daily routine and health related issues. And bam! Their diet plan is prepared within minutes, without even taking the effort to visit a doctor or a dietician. Even there are several online websites which have started online gym. Although this is new in trend and not many people are aware of it, but it surely looks promising in the days to come.
In this way, while the business of sports and fitness has already set up a strong foundation in the public market, the digitalization is only helping this industry in stepping up their game.
How has digitalization impacted the business of sports and fitness?
The digitalization has a phenomenal influence on one’s lifestyle, shopping habits, public interaction and work life. And people who understand this have successfully managed to set their foot in this tough market competition. Just two decades back, companies had to take huge amount of effort to transfer data and information from one junction to other. It would take weeks and in some cases even months to bring the product in the market and influence the customers to buy it. But with digitalization, this entire frill has become a matter of just 24 hours. Just give them one day and most of the things are sorted. Internet of Things is the reason behind digitalization. Interest of things is a network of several different kinds of devices that communicate among themselves via artificial intelligence. In this way, these intelligent technical systems transfer data and information by taking quick decisions on their own, reducing the burden of people. And this is the reason for the popularity of digitalization. It has made the life of people so easy and yet so depending. People have become so dependent on the internet that the markets are also shifting on it. Because where there are customers, the market will go there!
Why was there a need for digitalization to boost the business?
Although the business of sports and fitness had set up a strong foundation in the market, there is always a scope for growth. And growth can only come when something new is brought in the market. While the latest kinds of product were helping but it didn’t have the potential to hold the grip of their customers for long. Eventually they would lose interest in that. So to constantly remain connected with their customers and bring more and more facilities for them, so that they remain dedicated to the company, digitalization was needed. Digitalization has a lot of options when it comes to innovation and bringing out something new. This binds the customer to the company as there is always something new for them. Be it a simple change on the website or some new update available on the app which has some features, these things keeps the customers busy in some way or the other and don’t let them loose interest in it.
Benefits of digitalization
Fast communication- With digitalization, communications have become really fast. Whenever a new product is launched it is advertised all over social media. There are also notification feature which provided time to time messages to people even if they haven’t asked for it.
Worldwide advertisement- In today’s world, it takes seconds after the product is launched and soon after becomes popular. The advertising industry is so strong that, it has boosted the marketing to a whole new level.
Product marketing- Today right after a product is launched; it is out there in the market. It is available on various e-commerce websites, with websites claiming great deals and attracting customers.
Revenue growth- Due to the increase in product marketing, this sector has seen a good revenue growth in the recent years.
Today there is a wide range of online products and services available on the online market. And the ability of the customers to get an access to these is just a matter of time. With the availability of mobiles, tabs, laptops, it has become quite easy for customers to make full use of the product and apps that are sold online. This in turn has increased the demand of the supply. It has brought a revolution in the field fitness and health care sectors. Thus digitalization has made quite a positive remark on the industry of sports and fitness.