A product is any item that you can sell to a person in exchange for cash or barter. It could be a piece of produce, an electronic gadget, or a comfortable sofa.
Until the internet improved commerce, a product was always a physical object or item — something that distinguished it from a service. It was something that could be grasped, seen, smelt, heard, or even tasted.
That has changed now that many entrepreneurs are starting online businesses. This is now known as a digital product.
A digital product is any product you sell online that has no physical form or substance. You can't hold a website theme in your hand, smell an e-book, or taste a software program.
However, what makes digital products particularly attractive is that they can be created once and sold over and over to different customers without having to replenish inventory, making them ideal for creatives, artists, educators, and freelancers looking for new income streams that require less effort to maintain.
On the other hand, digital product development refers to the design of software-driven user experiences that enhance the user journey of an organization, in part or completely. It typically uses agile development methodologies to deliver products at speed while regularly testing and iterating based on stakeholder input.