Economic Reporter :
A digital wave is underway that could bring a cumulative $2.95 trillion in value by 2025 for the retail industry, according to a recent report by Accenture Strategy. It also says that retailers and CPG companies need to become masters of the traditional levers-cost, choice and convenience-and also master providing a stellar customer experience.
The report titled ‘Painting the Digital Future of Retail and Consumer Goods Companies’, which is based on analysis for the World Economic Forum, sees four main drivers of success through 2025-actions leading companies can take that are critical to consumer companies’ success.
With trillions in potential profit at stake over the next decade, retail and consumer goods leaders are doing 4 things to be on the cutting edge. Leaders will use digital to understand and connect with consumers; rapidly adopt game-changing technologies; test new business models; and know the three must-have capabilities to thrive over the next decade, namely – the partnership mindset, last-mile delivery and advanced data sciences.
The report adds that by 2026, routine purchases will become effortless. Product purchases with low mind share, which are routine purchases, will be delivered automatically via auto replenishment, saving consumers time and simplifying their lives.
A digital wave is underway that could bring a cumulative $2.95 trillion in value by 2025 for the retail industry, according to a recent report by Accenture Strategy. It also says that retailers and CPG companies need to become masters of the traditional levers-cost, choice and convenience-and also master providing a stellar customer experience.
The report titled ‘Painting the Digital Future of Retail and Consumer Goods Companies’, which is based on analysis for the World Economic Forum, sees four main drivers of success through 2025-actions leading companies can take that are critical to consumer companies’ success.
With trillions in potential profit at stake over the next decade, retail and consumer goods leaders are doing 4 things to be on the cutting edge. Leaders will use digital to understand and connect with consumers; rapidly adopt game-changing technologies; test new business models; and know the three must-have capabilities to thrive over the next decade, namely – the partnership mindset, last-mile delivery and advanced data sciences.
The report adds that by 2026, routine purchases will become effortless. Product purchases with low mind share, which are routine purchases, will be delivered automatically via auto replenishment, saving consumers time and simplifying their lives.
