13/01/2021
Refocus digital efforts toward changing customer expectations
Many companies are accelerating their shifts toward digital-first models—at warp speed.
One European variety-store chain, for example, established a fully functioning e-commerce business in just three months. The online business was interconnected across all functions (warehousing, merchandising, marketing, customer support, et cetera) and improved basket size over physical stores by three times as well as delivering nearly 3 percent like-for-like revenue growth in its main market.
But it’s not just about digitising. Companies must also reimagine customer journeys to reduce friction, accelerate the shift to digital channels, and provide for new safety requirements.
For example, an automobile manufacturer now handles functions traditionally performed by dealers, such as trade-ins, financing, servicing, and home delivery of cars. Airlines are rapidly reinventing the passenger experience with contactless journeys focused on traveler health and safety to make customers feel comfortable flying again.
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