29/08/2022
A Digital product is any product, whether it’s for sale or not, that exists in an intangible format as a file. They can be streamed, downloaded, and translated into physical mediums (such as an eBook or template that’s printed in physical copy), but their primary point of interaction is through technology.
Digital products might include audio files, eBooks, checklists, downloadable workbooks, printable patterns, mobile or desktop applications, memberships , or creative assets such as fonts, graphics, and PSD files.
For our purposes and the sake of clarity, a digital product is any product which users can purchase and access through their computers, phones, and tablets without any physical installation requirement.
When you’re considering selling a product and trying to decide between physical and digital mediums, you may be tempted to veer towards the old faithful -- physical wares -- but not so fast.
Physical goods may be a strong market -- and it is, just have a look at the growth rate for retail ecommerce stores but it’s plagued with a profit-killer that stops shoppers in their tracks.
While taxes are still present, there’s no shipping cost involved with sending a customer your eBook or workbook when it’s a file, and because you don’t need to know their address, it’s possible to eliminate the barrier of account creation altogether.
There’s also this to consider when it comes down to digital versus physical goods:
You don’t need to insure digital products. Warehouse insurance can get complicated, convoluted, and expensive quickly while leaving brick-and-mortar products out in the cold if those goods don’t sell fast enough to make up the difference in expenses.
Source : Article by Lauren Cochran