EY Strategic Growth Forum™ session highlight
Growth through digital platforms
The world has been profoundly changed by digitization. Digital platforms are the superhighways by which businesses can reach consumers more than ever before. From online and mobile transactions to ecommerce, companies are able to reach customers more cost efficiently, capture more big data about consumption habits and eventually, create new products and services.
But the relationship is not one way—with digital platforms customers can also talk back, which changes the interaction between businesses and consumers.
In a lively discussion, the panelists from different industries shared the manifold benefits of digital platforms:
- Allows businesses from different industries to partner and reach new markets
- Offers opportunities for companies to digitize their business
- Enables brand extension
- Enables businesses to connect and even move consumers’ emotions
- Creates new experiences for their customers
- Changes consumption habits and needs
- Quantifies return on investments.
The panel was moderated by Stephen Y. Lo, Managing Partner Technology, Media & Telecommunications Market, EY. The panelists were: Daniel Zhang, Chief Operating Officer, Alibaba Group; Chai Hongfeng, Executive Vice President, China UnionPay; Wenning Xing, Managing Director & Chief Representative of Hearst Corporation in China; Nick Barton, Chief Commercial Officer, InterContinental Hotels Group; Tanner Tan, CFO/COO, Lowe China.