Reset, recovery, new reality: Economic power has moved to the customer
Across B2C, B2B and B2B2C markets, COVID-19 has shaken the ground beneath operating models and set both opportunistic and defensive digital commerce strategies into motion. Businesses on the defense are expanding or upgrading their established online infrastructure to protect market share, keep revenue streams intact and hold onto their customer bases. Opportunistic businesses are modifying their operating models, initiating or accelerating online adoption and expanding the markets they serve to take advantage of favorable shifts in purchase habits.
Business leaders have several paths for investing in digital commerce maturity. One is acquisition of other companies to jumpstart or rapidly scale up digital operations. Another takes a go-it-alone, build-it-here direction. Yet another is partnering with external providers who possess leading-edge technology, business processes and analytic models.
Regardless of which path they take among buy, build or partner, business leaders need to know where they are heading and why. A benchmark of their digital commerce model, prior to undertaking major new initiatives, is an important due diligence activity.
Don't get left behind in this moment that requires all businesses to think differently. Learn in this paper about the importance of becoming digitally integrated and using data and analytics to deeply understand who your customers are, what products they want and what induces them to buy.
Spending shifts due to COVID-19 have widened the divide between digital haves and have nots.
