Ensuring unified experience for consumers through transformative business model
COVID-19 and social distancing norms have transformed the shopping behavior of consumers ringing the new CPG industry trends. To keep up with the change in consumer behavior, brands need to be consumer-obsessed, data-driven, and hyper-connected. It requires providing consumers with a cohesive omnichannel experience. This includes:
Building ecosystems of retail partners, third-party service providers and consumers
Evolving to be a marketplace and/or aggregator
A 360° consumer view of all purchase journey and touchpoints
Implementing advanced analytics for enhanced consumer experience
This paper focuses on the key tenets of the online to offline (O2O) strategy such as ecosystem thinking, sub-segment strategy, IT readiness, promotion strategies and the need to extract insights from the abundant data to ensure frictionless consumer experience.