| | March 20188CIOReviewUNCOVERING NEW LEVERS FOR E-COMMERCE 2.0By Aditya Rao, Partner and Abhinav Arora, Senior Consultant, PwChe retail and E-commerce industry is growing at an unprecedented rate driven by the increasing use of devices such as smartphones and tablets, and easy access to the internet. The new generation of consumer is always `online' and seeks richer experiences and greater convenience. The traditional brick and mortar retail industry is also striving hard to draw customers to their stores and compete against online retailers adopting the `brick and click' model. The levers for the new path for e-commerce can be derived from the key requirements that drive the digital requirements of today:1. Understand digital shoppers rapidly evolving needs and behaviors 2. `Social Apponomics' are re-defining online customer experiences3. Harness the power of the online communities/social media4. Drive performance with behavioral targeting (best supported by mobile)5. Keep customers engaged across channels via mobile and LBS6. Retain customers through multi-channel loyalty programsThe e-commerce ecosystem is evolving rapidly and thus going forward, focus on these 3 levers would be required that can help e-commerce companies uncover new growth avenues from these digital requirements:1. The empowered customer2. Technology Disruption3. Evolving business modelsThe Empowered CustomerFueled by the explosive growth of the sector, the new age e-customer has a plethora of choices and experiences. The entire customer value chain has undergone drastic changes with enhancements happening at the search, comparison stage, selection, payment and post buying stage.T IN MY OPINIONPwC is a multinational professional services network headquartered in London, United Kingdom. It is the second largest professional services firm in the world and is one of the Big Four auditors. PwC is a network of firms in 157 countries, 756 locations, with more than 223,000 people working in three primary areas- Assurance, Advisory and Tax.Aditya Rao
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