Digitalisation has ignited a paradigm shift in the way businesses operate and engage with customers.
Digitalisation stands as the catalyst that reshapes the core of companies’ operations and customer interactions. This article delves into the profound influence of digitalisation on both the value chain and in-store experiences of diverse industries, shedding light on how businesses can harness digital technologies to enhance their efficiency and customer engagement.
How has digitalisation restructured the value chain?
Digitalisation has ushered in a new era of business models and processes while revitalizing existing ones. At its core, it empowers companies to streamline operations, slash costs, and boost efficiency. A prime example lies in data utilisation throughout a product’s lifecycle, optimizing production uptime, accelerating time to market, and illuminating customer behavior.
The apparel industry stands as a testament to this transformation, where digitalisation has supercharged supply chain management, reduced lead times, and elevated product quality.
Digitalisation has elevated in-store experiences
In the retail realm, digital transformation has given rise to omnichannel experiences that meet and exceed customer expectations. Shortened lead times, personalised interactions, and enhanced customer service epitomise the digitalised retail landscape.
Augmented Reality (AR) and Virtual Reality (VR) technologies exemplify the digital tools that enrich in-store experiences. Customers can now immerse themselves in virtual environments to visualize products, amplifying the allure of the shopping adventure. Industry giants like IKEA and Sephora have harnessed AR and VR to revolutionise their in-store encounters.
How do businesses harness digital technologies for growth?
The journey to harness digital technologies commences with pinpointing the areas within the value chain and in-store experience ripe for digitisation. McKinsey’s survey underscores the “design-make” link as a prime candidate for digitisation.
Supply chain management, lead time reduction, and product quality enhancement are prime avenues for digitalisation. Blockchain technology, for instance, endows companies with the power to trace products from origin to sale, fostering supply chain transparency and accountability.
In summation, digitalisation has ignited a paradigm shift in the way businesses operate and engage with customers. By embracing digital technologies, companies can better their operations, trim expenditures, and deliver immersive, tailored customer experiences.
