In these days of rapid technological change and advancement, transforming businesses digitally comes with many advantages. Some business owners may still think that digital transformation is an option instead of a necessity. The fact is, growing your business online is an effective way to reach mass audiences, allowing more people to know and recognise your brand, especially young audiences.
Thye Hin Hoe Medical Store is a good example of digital transformation that allowed the business to successfully reach its young target audience and grow sales.
Thye Hin Hoe Medical Store
Before Digital Transformation
Thye Hin Hoe Medical Store is a traditional Chinese medicine store in Singapore with a 60-year of history. It is located in a town where the population is mostly elderly. This location caused the business to acquire a limited group of customers, and it was hard for the company to reach customers outside the town.
In order to expand their audience base and allow more young people to know about Chinese medicine, Thye Hin Hoe Medical Store decided to grow their business online by cooperating with students from Nanyang Technological University.
After Digital Transformation
The results after digital transformation have been positive. The business has successfully reached young people and new potential customers outside of town because people can find Thye Hin Hoe Medical Store’s products online.
The online store not only sells products but also provides knowledge about Chinese medicine. Information about Chinese medicine and the company’s products is stated in great detail on the online store page. It provides healthy food recipes, health tips, and videos showing how to cook a Thye Hin Hoe soup pack, which is good for your health.
Today, Thye Hin Hoe Medical Store still runs the physical store, but by expanding the business online, the store’s revenue has increased by approximately 10%. This growth is strong evidence that digital transformation works well for businesses. It is an effective way to maximize your revenue and lower your costs.
SME DigitalFest Gives You the Solution!
Are you inspired by the success story of Thye Hin Hoe Medical Store? Wish to be successful in digital transformation? Join us at SME DigitalFest 2021 and learn all about ‘Leveraging Technology for Digitalization’.
This year, we are inviting speakers who have successfully employed digital transformation. These speakers will share their digital transformation experiences without reservation, and you will walk away with knowledge and tips on how to utilize technology and online platforms to digitize your business.
传统邻里中药行推陈出新 转向电子商务吸引年轻顾客 – https://www.8world.com/news/singapore/article/thye-hin-hoe-ecommerce-nyp-386716