Digital and Analytics are the defining capabilities of the leaders in the Fashion Industry. This is no secret and all the companies in the industry are in different stages of their Digital Transformation journey – some are successful in executing their digital transformation agenda and some are not; because of various reasons, with one of them being the choice of right implementation partner.
The future of Retail is here. The customer’s buying journey has shifted from brick and mortar stores to computers to any device connected to the internet, which is causing retailers to reimagine the role of the stores from being a sales outlet to showrooms to places where consumers discover and experience brands to fulfillment centers to part stores and part office. The existence of a store does not merely depend on the rental cost (or “four wall economics”) but on how the stores can be repurposed as another channel for the consumers to engage with the brands.
Traditionally, Consumer Goods companies have grown by building bigger brands, tapping into emerging markets, and driving operational efficiencies. This operating model, however, has been delivering below expected results to the investors over the last few years. The whole ecosystem in which a CPG company operates has been changing and that requires CPG companies to transform themselves to return to profitable growth. A successful transformation requires new capabilities to be developed, which not only make operations cheaper but better; create centers of excellence that deliver value-added services; enable cross-functional and agile teams to reduce touchpoints in the customer’s journey, and improves decision making.
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