The Platform Economy: A New Age of Business

The Platform Economy: A New Age of Business

The Platform Economy: A New Age of Business

The Platform Economy: A New Age of Business

Author

Jamie Maria Schouren

Co-Founder

Author

Jamie Maria Schouren

Co-Founder

Author

Jamie Maria Schouren

Co-Founder

Author

Jamie Maria Schouren

Co-Founder

Category

Educational

Publish Date

Aug 6, 2024

the-platform-economy-a-new-age-of-business

In the dynamic landscape of today's digital revolution, the platform economy has emerged as a transformative force, reshaping industries, markets, and societal interactions. Despite the recent tech downturn and waning hype around innovations like crypto, the platform model remains a beacon of growth and resilience in the digital age.

Understanding Platforms

At its core, a platform is a digital marketplace that facilitates interactions and transactions among users, businesses, and even industries. Unlike traditional business models that emphasize products and supply-side economies, platforms focus on network interactions and user engagement. This shift reduces friction in transactions, attracts more participants, and drives exponential business growth.

Success Stories

Leading companies such as Apple, Amazon, Google, and Alibaba exemplify the power of platforms. These giants have not only dominated their respective markets but also revolutionized the economic value chain, often outperforming traditional businesses in profitability and market capitalization. For instance, the top 43 platform companies boast nearly double the operating profits and growth rates compared to the largest traditional firms over the past two decades.

Strategic Implementation

To harness the potential of platforms, businesses need a clear digital strategy. This involves appointing a visionary leader, defining precise goals for the platform, and focusing on value exchange. Successful examples include Uber’s seamless ride-hailing service and HCLTech’s comprehensive platform for a global football club, integrating various aspects of fan engagement and business operations.

Collaboration and Scalability

Collaboration can be a strategic move for platform success. For example, Swedish banks collaborated to create Swish, a digital payment system that successfully countered ApplePay's entry into the market. Similarly, companies like Mobileye and Stripe have leveraged partnerships to enhance their platform offerings, thereby gaining critical mass and expanding their technological capabilities.

The Future of Platforms

The potential of platforms extends beyond consumer markets into B2B sectors, where standardized data can drive new opportunities. Industries like finance, healthcare, and agriculture are beginning to embrace platform models, leading to innovations such as smart farming and integrated healthcare solutions.

Ultimately, the key to platform success lies in understanding customer needs and fostering a culture of agility and innovation. By embracing these principles, businesses can ensure they remain competitive and relevant in the ever-evolving digital economy.

In summary, the rise of the platform economy signals a fundamental shift in how businesses operate and compete. By leveraging digital platforms, companies can achieve greater efficiency, innovation, and market reach, positioning themselves for long-term success in the digital age​

Jamie Maria Schouren

Jamie is addicted to ecommerce, in love with code and her mind bound to business. Driven by the urge for innovation, she co-founded Deity, with which she is on a mission to spark an online revolution to evolve web technologies.

Jamie Maria Schouren

Jamie is addicted to ecommerce, in love with code and her mind bound to business. Driven by the urge for innovation, she co-founded Deity, with which she is on a mission to spark an online revolution to evolve web technologies.

Jamie Maria Schouren

Jamie is addicted to ecommerce, in love with code and her mind bound to business. Driven by the urge for innovation, she co-founded Deity, with which she is on a mission to spark an online revolution to evolve web technologies.

Jamie Maria Schouren

Jamie is addicted to ecommerce, in love with code and her mind bound to business. Driven by the urge for innovation, she co-founded Deity, with which she is on a mission to spark an online revolution to evolve web technologies.

Trusted by

  • Lazy loaded image

    Ivo Bronsveld

    Head of Integrations

    commercetools

    Deity opens up the world of composable commerce for commercetools merchants by providing a powerful set of building blocks. Deity is a solution to watch, they are one of the next big things in commerce.

  • Lazy loaded image

    Martijn Phijffer

    Business Development Man.

    PostNL

    In recent months, I've discovered Deity as a highly skilled company that swiftly addressed our complex online challenges. Their composable commerce engine is truly impressive. I strongly recommend them for any online needs.

  • Lazy loaded image

    Adam Watt

    Head of Engineering

    Jimmy Brings

    The Composable architecture already paid off, we've already made changes to some of the internal microservices and didn’t have to push the release out to any of the frontend components or change anything in the code base. It really builds confidence and solves the problems we had in the past, which is amazing!

  • Lazy loaded image

    Rouven Weßling

    Dir. Technology Partnerships

    Contentful

    The integration between Deity and Contentful opens the possibility to connect to any ecommerce service quickly and securely. We are excited about working together to help our customers make the jump from legacy systems to a composable commerce architecture.

  • Lazy loaded image

    Sergiu Tabaran

    Chief Operating Officer

    Absolute Web

    Deity’s innovative solution allows our merchants to adopt headless much more quickly than managing multiple layers of custom development, a huge leap forward!

  • Lazy loaded image

    Ivo Bronsveld

    Head of Integrations

    commercetools

    Deity opens up the world of composable commerce for commercetools merchants by providing a powerful set of building blocks. Deity is a solution to watch, they are one of the next big things in commerce.

  • Lazy loaded image

    Martijn Phijffer

    Business Development Man.

    PostNL

    In recent months, I've discovered Deity as a highly skilled company that swiftly addressed our complex online challenges. Their composable commerce engine is truly impressive. I strongly recommend them for any online needs.

  • Lazy loaded image

    Adam Watt

    Head of Engineering

    Jimmy Brings

    The Composable architecture already paid off, we've already made changes to some of the internal microservices and didn’t have to push the release out to any of the frontend components or change anything in the code base. It really builds confidence and solves the problems we had in the past, which is amazing!

  • Lazy loaded image

    Rouven Weßling

    Dir. Technology Partnerships

    Contentful

    The integration between Deity and Contentful opens the possibility to connect to any ecommerce service quickly and securely. We are excited about working together to help our customers make the jump from legacy systems to a composable commerce architecture.

  • Lazy loaded image

    Sergiu Tabaran

    Chief Operating Officer

    Absolute Web

    Deity’s innovative solution allows our merchants to adopt headless much more quickly than managing multiple layers of custom development, a huge leap forward!

  • Lazy loaded image

    Ivo Bronsveld

    Head of Integrations

    commercetools

    Deity opens up the world of composable commerce for commercetools merchants by providing a powerful set of building blocks. Deity is a solution to watch, they are one of the next big things in commerce.

  • Lazy loaded image

    Martijn Phijffer

    Business Development Man.

    PostNL

    In recent months, I've discovered Deity as a highly skilled company that swiftly addressed our complex online challenges. Their composable commerce engine is truly impressive. I strongly recommend them for any online needs.

  • Lazy loaded image

    Adam Watt

    Head of Engineering

    Jimmy Brings

    The Composable architecture already paid off, we've already made changes to some of the internal microservices and didn’t have to push the release out to any of the frontend components or change anything in the code base. It really builds confidence and solves the problems we had in the past, which is amazing!

  • Lazy loaded image

    Rouven Weßling

    Dir. Technology Partnerships

    Contentful

    The integration between Deity and Contentful opens the possibility to connect to any ecommerce service quickly and securely. We are excited about working together to help our customers make the jump from legacy systems to a composable commerce architecture.

  • Lazy loaded image

    Sergiu Tabaran

    Chief Operating Officer

    Absolute Web

    Deity’s innovative solution allows our merchants to adopt headless much more quickly than managing multiple layers of custom development, a huge leap forward!

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We can’t wait to hear from you!

If you have any questions about our company, platform or solutions, we'd be delighted to speak with you.

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Jamie Maria Schouren

Co-founder

Contact

We can’t wait to hear from you!

If you have any questions about our company, platform or solutions, we'd be delighted to speak with you.

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Jamie Maria Schouren

Co-founder

Contact

We can’t wait to hear from you!

If you have any questions about our company, platform or solutions, we'd be delighted to speak with you.

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Jamie Maria Schouren

Co-founder