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Analysis of the Necessity and Opportunities and Challenges of Digital Transformation in the Liquor Industry

In: Proceedings of the 2023 International Conference on Finance, Trade and Business Management (FTBM 2023)

Author

Listed:
  • Siwei Song

    (Yunnan University of Finance and Economics, Accounting school)

Abstract

In recent years, China's digital economy has developed rapidly. As a traditional manufacturing industry supported by the real economy, the transformation of the liquor industry into a digital economy is not only necessary for the economic situation, but also an inevitable trend for the development of liquor companies, and a key step in promoting the liquor industry to contribute to the Chinese economy and society. This paper analyzes the importance of the digital economy for the liquor industry by collecting and presenting data from multiple channels and different time periods, as well as the new opportunities and challenges that the digital economy brings to the production, sales, marketing and supply chain of the liquor industry, in order to make recommendations on these four areas. This paper provides direction on how liquor companies can adapt to the digital economy to further leverage its value in China, and also provides further insight into how liquor companies can drive their business development.

Suggested Citation

  • Siwei Song, 2023. "Analysis of the Necessity and Opportunities and Challenges of Digital Transformation in the Liquor Industry," Advances in Economics, Business and Management Research, in: Amalendu Bhunia & Rubi Binti Ahmad & Yifeng Zhu (ed.), Proceedings of the 2023 International Conference on Finance, Trade and Business Management (FTBM 2023), pages 469-478, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-298-9_51
    DOI: 10.2991/978-94-6463-298-9_51
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