Traditional approaches to business and operational goals are too linear and too static, according to a study conducted by the World Economic Forum in conjunction with Bain & Company . Members of the task force agreed that companies Bolivia WhatsApp Number List need an ambitious vision for the future to set direction and more flexibility to pivot and evolve . Adaptability, a high reaction speed and simultaneous development are essential. These new capabilities will be acquired through a digital strategy and digital tools that simplify decision-making, communications, implementation and flows. Strategy is fundamental, but it requires more marketing. That’s what a business model is for.
It establishes the logic by which an organization creates, delivers and captures value in various economic, social and cultural contexts. A business model is also necessary for a digital business. It should include a few essentials, including customer engagement, channels, products and services, operations, culture and talent . Pillar 2: a more engaging digital customer experience Despite efforts to invest in technology for a better experience, big retail brands like Neiman Marcus are struggling to embrace digitalization . In 2017, the company was struggling to implement a cross-channel merchandising system, resulting in significant losses of $ 55 million to $ 65 million .
Printing 3d, Augmented Reality, Big Data Technology
Digital platforms have proven to be very effective for brands and consumers. Online luxury sales have become extremely popular: internet shopping carts have increased in value and number, contributing 39% of the overall luxury sales growth . It’s hard to talk about e-commerce without talking about China, which has played a leading role in transforming retailing. With steadily increasing online consumption and 64% e-commerce adoption by Chinese consumers , the Chinese online retail market has 650 million users. It was valued at $ 1.5 billion in 2019 : more than the following 10 markets combined! Consumers want a personalized shopping experience and personalized products tailored to the uniqueness of their tastes .
Ready to use 3D visualization and configuration like Guerlain, Baume, Kenzo to achieve higher conversion rates? Contact Hapticmedia for a free quote! Brands like Guerlain have doubled their conversions by offering beauty fans the opportunity to design their own lipstick on DTC channels. The 3D configurator designed by Hapticmedia allows makeup enthusiasts to actually see what the product will look like before ordering it. The new shopping experience: less direct contact and more digital tools and technologies. Scientists predict that we will have to learn to live with COVID-19 over the next few months or years, not to mention new crises.
The Intelligent Factories, The Internet Of Things, Robots, Detection Technologies And Localization, Advanced Human-machine Interfaces,
Direct human interactions will be limited and companies will have to deploy digital tools to communicate and engage with their customers. Advanced technologies like chatbots , artificial intelligence and big data have therefore become particularly popular, not only for handling inquiries and complaints, but also for providing product recommendations and proactive suggestions. Everything you always wanted to know about digitization 2 A good example of the integration of virtual fitting technology into the multichannel marketing strategy is given by Baume, a high-end watch brand. But we can do more: virtual dressing rooms, 3D product setup , fitting technology , live streaming, immersive reality, mass personalization, these technologies now offer new opportunities for e-commerce as they allow consumers to find the products that best suit their tastes and requirements.
Pillar n ° 3: offer innovative products and services in the digital age As more and more connected, consumers expect brands to meet their demands and provide them with convenience in this digital environment. According to a report released by the National Retail Federation, 83% of consumers value convenience more than 5 years ago. In addition, this attribute gives retailers a competitive advantage since 97% of respondents abandoned a purchase due to the difficulty of the procedure. Modernization creates a context for digitization. In 2013, the sharing economy was valued at $ 15 billion, significantly less than the traditional operating model of $ 240 billion; however, by 2025 the two are expected to balance each other out, each reaching a market value of $ 335 billion .