ENCIETY
Information and technology are reshaping business. Growth is no longer determined only by physical assets; technology-based businesses, including e-commerce, can reach customers in new ways.
The shift is clear in transport services such as Gojek and Grab. Digital services can build market trust by improving reliability and reducing the risk of fraud. The original article cited a fall in public confidence in online transport from 20% in 2016 to a much lower fraud rate by June 2017; those figures reflect the period discussed in the source article.
Digital businesses can also improve service over time. Online shopping once required customers to have a credit card or an account with a particular bank. Cash on Delivery (COD) made it possible to pay when the order arrived, helping both buyers and sellers feel more comfortable.
As convenience and trust grow, digital businesses can develop faster. The essential task is to earn and protect the confidence of the market.
That confidence is also fragile. Information travels quickly online. A business that fails to maintain trust can lose it just as quickly—and see its growth reverse.