What is a ‘digital good’, anyway? As more and more of the world economy has shifted online in response to the limitations 2020 has thrust upon us, new terms are populating the discourse, and niche ones becoming mainstream. Digital goods, also known as e-goods, are intangible commerce items, existing only in digital form, sold via online stores. Does that sound sci-fi? It shouldn’t. Depending on your locale, digital goods can have varying definitions. In Australia, digital goods include ‘digital content’ such as movies or games, but don’t necessarily include health services or online courses. In US states that abide by SSUTA (Streamlined Sales and Use Tax Agreement), digital goods are ‘any product that is transferred electronically to the consumer’. That covers a lot of ground.
Examples of Digital Goods
Vendors all over the world are increasingly selling digital products online in addition to, or as an alternative to physical goods. Gucci is one such company. The fashion house has partnered with an avatar tech company, Genies, and is starting to sell types of digital garments and accessories. These digital products are virtual representations of physical products they sell, or are intending to sell in new lines. The products are sold to customers who have digital avatars (Genies) that they can dress and then use in other apps, such as social media, games, and others. After all, with digital experiences becoming more and more common, such as Travis Scott’s Fortnite-based digital concert, you want your avatar to be seen at these events looking its best.
There is no exhaustive list of digital products that you can sell online, as the list continues to expand almost by the day.
- Many vendors are selling software, such as games, apps, or other tools.
- Some vendors sell videos, like Amazon or YouTube.
- Music production and distribution is increasingly done online these days, through platforms like iTunes or Bandcamp.
- Computing services, such as cloud-based storage, are sold digitally.
- Consulting can be a digital good or service, with high-quality consultancy selling for hundreds of dollars an hour.
- Graphic design, and other intellectual property, can be completely electronic and sold online.
- Currency itself can be a digital good, stored on various banking services, bought and sold in different countries.
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