Business Sustainability and Consumer Satisfaction: A Critical Role of Digital Business and Digital Services

Abstract

This study examined the crucial significance of digital business and digital services in improving corporate sustainability by facilitating consumer happiness. The study concentrated on the banking industry in South Korea, with bank managers participating as respondents. A study utilised a quantitative method called structural equation modelling (SEM) to examine the connections among digital banking, consumer satisfaction (acting as a mediator variable), and business viability.  The findings demonstrated a substantial and favourable impact of digital banking on the long-term viability of businesses. Consumer satisfaction played a vital role in bridging the gap between digital initiatives and long-term success by properly mediating this link. The findings indicate that South Korean banks can enhance their profitability, market competitiveness, and overall financial stability by giving priority to digitisation efforts and simultaneously promoting favourable consumer experiences. This study adds to the current body of research by providing empirical evidence of the mediating effect of consumer happiness in the relationship between digital business and sustainability in the banking industry. The findings provide useful insights for bank managers who aim to utilise digital transformation to improve customer satisfaction and achieve long-term corporate growth.