5 examples of markets that digitally transformed (energy’s next!)

Do you go to your bank when you need to send someone money, or do it online? High street banks are shutting at an alarming rate, so there’s a good chance you send it digitally.

It’s a similar story when it comes to buying gifts, booking flights, and even hailing taxis.

From travel to television, digital transformation has given us more direct access to suppliers, more transparent pricing, and more personalised experiences. With so many products and services migrating online, it’s easy to forget that some industries are still in the middle of a tech revolution.

The energy market is overdue a digital transformation of its own, and these five digital transformation examples give us a clue of what its future will look like.

The headlines

• Finance points the way forward for transactional transformation. Energy’s just started to follow.

• The eCommerce revolution shows the value in lowering barriers to entry and empowering independent generators.

• Transport startups like Uber illustrate what can be achieved with real-time data.

• Pricing visibility put the power back in the hands of travellers, and illustrates just how far the energy market needs to come.

• And, finally, streaming services make it clear that customer expectations have shifted to a personalised, on-demand world. Until now, energy hasn’t met them.

1. From finance to fintech

Financial services have almost completely transformed since fintech companies started launching in 2000: over 90% of money is now digital (existing as data rather than cash) while 87% of the UK does its banking online.

Some experts now think finance is approaching its “second era of digitisation”: the platforms that big banks adopted in the 2010s are already out of date, and fintech startups like Klarna are starting to offer more compelling alternatives.

What changed?

Those startups are changing the way we transact. 40% of UK adults have digital-only bank accounts, and it’s not just because apps are more accessible than brick-and-mortar banks.

Fintech examples like Monzo and Revolut have attracted users by cutting out the middle-men at traditional banks, passing on higher interest rates to their users. Together with platforms like Nutmeg and Moneybox, they make it easier to access your money, and to take control of your own investments.

Why energy’s next

The energy sector is undergoing a similar transformation, with tem’s transaction technology leading the charge to bypass middle-men and fees in the traditional wholesale market.

2. From retail to eCommerce

Digital transformation has also revolutionised the way we spend all that hard-earned money. In 2007, less than 4% of the UK’s retail sales happened online. That number has been climbing ever since — today, it’s just under a third of all purchases.

What changed?

In short, digital shopping is more convenient. The jury’s out on whether it’s cheaper to shop online, but the internet certainly gives consumers far more choice than high street retailers tend to offer.

That’s because technology has lowered the barrier to entry for retail. eCommerce platforms like Shopify and Etsy connect smaller producers directly to their customers, enabling them to scale faster, and keep more of their revenue. Digital storefronts mean retail isn’t restricted to global companies that can afford to pay rising rents.

Twenty one percent prefer to buy from independent businesses, and digitisation has made it easier for them to do exactly that.

Why energy’s next

In the UK, buyers are also looking for an easier way to access renewable energy directly from the source. That’s why tem built a platform that connects local generators with consumers — like independent online retailers, generators can bypass costly routes to market and deliver more sustainable power, direct.

3. From taxis to ride-hailing

In 2025, flagging down a taxi involves more thumb tapping than arm waving.

It took less than 15 years for Uber to evolve from a small startup to the world’s largest ride-hailing business. In London alone, personal transport apps grew so fast that some worry black cabs might go extinct. So far, rigid taxi systems haven’t been able to compete with digital innovators.

What’s changed?

Apps like Uber and Bolt made it easier to find a cab by digitising the process — which also made it easier for them to gather live data on supply and demand. Ride-hailing apps use that data to solve a basic problem with traditional taxi systems: sometimes, there aren’t any drivers available.

Features like Uber’s “surge pricing” increase prices when demand spikes in a specific area. Drivers flock there to increase supply, and some riders wait to catch a cheaper ride. If demand tends to spike at specific times, prices surge ahead of time to balance supply before it’s a problem.

Why energy’s next

Real-time data helps Uber keep its finger on the pulse, ensuring that everyone gets the kind of payment and price they’re looking for. At tem, we think energy should be the same. We give generators an opportunity to get the best possible price for their energy, while offering buyers cheaper energy by eliminating wholesale market markups.

4. From travel agencies to online booking

Until recently, there wasn’t much transparency in tourism. Travellers were at the mercy of agencies, airlines and hotel chains with opaque pricing models and hidden fees.

It’s not surprising, then, that digitisation turned the travel sector on its head. Hilton may have welcomed a record 224 million guests in 2024, but Airbnb tallied 490 million bookings. Up in the air, Skyscanner served 100 million users every month.

What’s changed?

In short, platforms like Booking.com and Skyscanner gave travellers more options. While digital platforms have their own pricing issues, consumers don’t have to take a hotel or airline’s price at face value anymore. Instead, they get visibility into the full range of choices on offer.

Airbnb added to that range by connecting users to (mostly) individual renters. Tourists get to live like a local, and locals get paid for providing a more authentic experience.

Why energy’s next

We set out to prove that a similar model could work for energy, which is why we built RED™. Our goal isn’t to be another player on the utility market — we’re after the kind of global change that the travel sector has seen. That means more choice and transparency when it comes to utility prices and energy sources.

5. From traditional media to streaming

Streaming platforms have completely changed the way we consume films, television and music by delivering our media digitally.

Spotify upended the music industry’s entire business model, and Netflix turned sector leaders like Blockbuster into nostalgic memories. The fastest-growing video service in the UK doesn’t even focus on film or TV: it’s YouTube.

What’s changed?

Entertainment’s transformation can be summed up with a single term: “on-demand”. Unlike scheduled television, streaming services deliver the content viewers want, when they want it. Traditional outlets like the BBC, Channel 4 and ITV have followed suit with platforms of their own.

Music’s digital transformation happened after listeners started (literally) taking things into their own hands. In response to growing piracy, websites like Spotify struck a deal. As Variety Magazine put it:

“…the service was built on the understanding that consumers who aren’t inclined to buy a specific album or song might be willing to pay for ease of access to a large library of music.”

In both cases, personalisation has proven vital: streaming services pay attention to each user’s watching or listening habits, and suggest similar content to keep them engaged.

Why energy’s next

Customers expect products and services to be personalised and delivered on-demand. Energy is no exception, but too many Big Energy companies have failed to innovate and meet those new standards. Until now, they haven’t felt the pressure to do it. We’re putting the pressure on with RED™, which shows each of our customers exactly how much of their business’s energy is being generated renewably.

Energy is transforming, too

At tem, we’re taking cues from those digital transformation examples. Energy can follow the industries that have traded opaque markets and hidden fees for transparency and choice.

In a sector plagued by outdated systems and volatility, digitisation is overdue.

That’s why we built RED™️. It’s an AI-powered platform that bypasses Big Energy, giving businesses access to cheaper, more renewable energy.

Read our report on British businesses’ relationship with energy to find out why the system needs to change — or get in touch to join energy’s digital transformation.