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Sunday 7 June 2020

The Art and Science of Digitalization Fueled by COVID-19

When the coronavirus pandemic first took hold, retail was faced with new levels of uncertainty and an overall struggle to maintain conversations with consumers as physical stores were closed. For many retailers, who had already adopted digital strategies, the path forward was clearer, though for others the disruption has caused ever-growing obstacles. Still, the crisis has provided a spotlight for digital solutions that can help brands and retailers grow, and even thrive in today’s increasingly digital world. “Brands need to be aware that digital is creating more opportunities than ever to form a deeper relationship with their consumers and streamline operations, both of which are critical to win in today’s marketplace,” said Drake Watten, managing director and partner at Boston Consulting Group. “[Brands] need to know that change — not tech or AI — is typically the hardest barrier to overcome when building digital capabilities.” Here, Watten talks to WWD about how brands and retailers can overcome organizational barriers in place that are making it difficult for brands to transform digital infrastructures and come out stronger in the “new normal.” WWD: How has coronavirus made it more important for brands to strengthen their digital infrastructure? Drake Watten: The coronavirus has put a spotlight on

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