Description
The Role of Digital Trade Platforms in Expanding Global Trade: A Mixed-Methods Study
Abstract
Digital trade platforms are revolutionizing global commerce encompassing all sizes of businesses and industrial domains. Advanced technologies allow high-volume sales internationally. Moreover, digital transformation paved ways for businesses to implement invaluable solutions streamlining costs. Advanced platforms offer broader benefits for pursuits planning to trade globally. However, traditional business operations involve expenses for documentation, contract writing and exports. For instance, increasing value the commercialization digitally performs order reception and process delivery online. Nonetheless, using web based transactions empowers global business initiatives by enhancing commercial value. Moreover, convenient access to global customer segments and new markets through digital trade platforms exclude complexities in traditional cross-border operations.
While online businesses are beneficial for commercial activities, businesses also encounter challenges in advanced trading platforms. In addition, this study encompasses research activities using mixed methods for observing. It evaluates benefits and issues for businesses using digital trade platforms. Quantitative analysis is important to study digital trade platform use context, and extent of use by small businesses. This follows studying data available for correlating across the extent of computerized platforms executing with an increase in export value. For example, statistical techniques offer precise results and correlate with quantitative research steps.
Views of stakeholders  are involved in interviews and survey processes for evaluating role of online platforms in trade benefits. The analysis of responses depicts the participant experience in utilizing digital trade media. Therefore, study explores the influence of online platforms in transforming business models. Hence, few determinants such as supply-chain initiatives required for online trade using new business models are investigated in this study. Overall, this study enunciates ways that digital trade platforms are supporting businesses to enter foreign markets according to a level of adoption. Finally, recommendations are provided to promote sustainability through digitalization of trading operations.
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