Our Consumer Markets team recently launched a series on how digital transformation principles apply specifically for retailers – especially retailers who feel that their digital transformations are complete, or worse yet, not needed.
In the first of five posts, Jim Hertzfeld, Perficient Practice Director, Consumer Markets, wrote about why now is the time for retailers to become “particularly deliberate about their own digital transformations.”
… in the past several years, the connected consumer has been forcing retailers to not just have a digital option, but to use these options to transform the business itself. Retailers are not alone in this latest wave of customer-centricity. Many of Perficient’s customers are adopting a position of digital transformation …
The second edition goes more in-depth on the underlying drivers to explain why digital transformation is important for all brands and retailers.
By now you’ve probably seen all the statistics on connected devices (98.8% of people own at least one connected device), time spent online (about 4 hours per day), and time spent shopping online (about 225 minutes per week.) The result of all of this connectivity is a highly informed consumer who is now in control of their shopping experience. Consumers have access to more brands and retailers than ever, and all of the product details, competitive prices, and reviews they could ask for, including what their friends think. The options are limitless, the choices are highly informed, and the switching costs between brand, retailer, and channel are practically zero.
The series will wrap up with the following:
- What to transform? What are the elements and components of a digitally transformed retailer?
- How to transform? What steps can retailers take to get started or push their transformation forward?
- Who is transforming? Which retailers are doing it well and what is their story?
Check out our Consumer Markets blog here.