Today’s digital development is transforming the retail/consumer goods value chain. Shopper visits in stores are falling, “virtual stores” are popping up in train stations and at airports, new pure online players are entering as a service filter between the consumer and traditional retailers, augmented reality enables consumers to experience products before they purchase them, consumer goods companies have an easy accessible channel direct to consumers. At times, the changes come so fast and furious that they seem likely to shake the foundations of the entire value proposition.
However, despite all of the change, at its core the business equation remains essentially the same. The top driver of consumer loyalty is still the same but as digital increase transparency and comparability companies struggle to differentiate on these traditional value proposition elements. Consequently, companies have to differentiate themselves in terms of the experiences their customers receive and how they create value for their customers and for themselves. This means capturing the consumer’s attention and keeping it on a continuing basis by evolving along with the changes that are happening and will continue to happen.
Working with developing strategies to continuously stay on top of a changing market landscape is part of my everyday life and I really enjoy it.
Since I joined Accenture Strategy in 2005 I have worked with companies across the whole retail/consumer goods value chain helping them define their road to the future. And in the digital era we are in right now, Accenture Strategy as a company is better than ever positioned to truly help companies navigate their business within the technology development that have had and will have an even larger impact on their business. Accenture Strategy works in the intersection between business and technology.