Research On The Impact Of Digital Transformation On Retail Enterprise Performance

With the rapid development and iterative upgrading of cutting-edge technologies such as5 G,the Internet of Things,and blockchain,the digital economy has emerged as a new form of economic growth.The digital economy has also become an important component of the global economy,promoting world economic transformation,and promoting high-quality development of China’s economy.Faced with the opportunities and challenges brought about by the digital revolution,China has always been committed to promoting the deep integration and development of digital technology and the real economy,promoting digital industrialization and industrial digitization in a coordinated manner,and assisting in the transformation and upgrading of traditional industries.Nowadays,information technologies such as the Internet and big data are becoming increasingly mature and widely used,and the digital transformation of traditional retail enterprises has become an inevitable trend in their high-quality development.Faced with the regulation and control of national macro policies,industry development trends,and increasing consumption levels,it is bound to promote retail enterprises to adapt to the development of the digital economy era and carry out digital transformation.How to choose digital transformation strategies and methods for retail enterprises,and how to apply digital technology to many aspects of enterprise production,operation,management,etc.,to help enterprises achieve digital transformation.As a leading enterprise in the retail industry,Suning E-Buy has actively responded to the digital transformation initiative proposed by the National Development and Reform Commission,becoming an early retail enterprise that began digital transformation,and promoting its own digital transformation guided by the overall development strategy of the enterprise.This article selects a retail enterprise,Suning Tesco,as the case object,and uses enterprise transformation theory,big data technology theory,and value chain theory as the theoretical basis for the thesis analysis.By combing relevant domestic and foreign literature and combining case analysis,it introduces the process of Suning Tesco’s digital transformation,and summarizes the motivations and strategies for Suning Tesco’s digital transformation,Subsequently,it analyzes the impact of Suning E-Buy’s digital transformation on performance and the impact mechanism of digital transformation on performance,and finally draws conclusions and inspiration.This article first describes the basic situation of Suning E-Buy and the process of its digital transformation.Later,through research,it is found that Suning E-Buy’s digital transformation is mainly driven by the surge in industry competition pressure,its own poor operation,the upgrading of consumer demand,and the policy environment.After that,this article elaborates on the digital transformation strategy of Suning E-Buy from the perspectives of store,logistics,marketing,financial services,etc.After collecting a large amount of case data,this article found that Suning E-Buy’s digital transformation mainly achieved enterprise performance improvement through improving supply chain management capabilities,improving consumer experience,and other means.It analyzed Suning E-Buy’s financial performance before and after the digital transformation from five aspects: reducing costs and expenses,accelerating asset turnover,optimizing business performance,improving short-term market,and improving development capabilities,including brand value,customer satisfaction Analysis of non-financial performance before and after Suning E-Buy’s digital transformation is conducted from four aspects: marketing capabilities,research and innovation efforts.Finally,analysis of Suning E-Buy’s digital transformation mechanism is conducted from four aspects:improving the membership system,optimizing business processes,innovating marketing activities,and improving operational efficiency.It is found that Suning E-Buy’s digital transformation can improve enterprise performance to a certain extent.This article draws the following conclusions through the above research: First,traditional enterprises can innovate their business management models and achieve intelligent management through digital transformation;Second,Digital transformation has improved enterprise supply chain management capabilities and customer consumption experience;Third,Digital transformation has promoted the improvement of enterprise performance.Based on the above conclusions,this article proposes the following implications for the digital transformation of retail enterprises: Traditional retail enterprises should comply with the requirements of the big data era,decisively abandon inherent experience management models and concepts,shift their business philosophy to digital thinking,and consciously use digital technology to help enterprises reduce costs and increase efficiency in the production,operation and management process of enterprises to achieve digital operations;Actively build an information system platform to integrate data and resources;In addition,when conducting digital transformation,enterprises should always pay attention to changes in the user market,promote digital transformation based on customer needs,meet diverse and personalized consumer needs and experiences,and formulate digital transformation strategies suitable for their own development based on their own characteristics to respond to the trend of the times.