Pivotal changes and the future of e-commerce
As the digital revolution continues to spin, e-commerce continues to provide more intelligent services and applications. Digital disruptors like cryptocurrency have changed traditional approaches, while the industry’s societal impact has established high standards for customer service and accessibility.
While the modern forms of e-commerce thrive, traditional forms remain vibrant within the industry, proving to be more resilient throughout economic recessions. Leaders are acknowledging the industry’s extensive adaptability by focusing on social media, on-demand services, and digital platforms. The efficient implementation of those platforms relies heavily on big data for profitable results, but e-commerce firms willing to introduce big data analytics can expect 5-6% higher productivity than their competitors.
As the industry continues to drive forward, many companies still do not provide e-commerce to their customers. In fact, 80% of manufacturers and distributors continue to manage orders by hand. The lack of transition could be a result of uncertainty, as 77% of B2B purchasers say purchasing has become overly complicated. But the open market leaves a substantial opportunity for e-commerce firms, along with manufacturers and distributors willing to make the transition.
- Lack of e-commerce solutions means that many customers are not reached and therefore struggle to understand how products could help them reach their life goals, limiting global purchase rates
- Many companies do not utilize the full power of e-commerce to reach new clients across a variety of marketing channels and expand the reach of their sales activitiy
- E-commerce digital transformation is often regarded as too expensive to implement, thus firms overlook digital execution opportunities to affordably rollout e-commerce solutions that are scalable and efficient
- Failure to implement new market measures, or provide e-commerce at all, causes difficulties throughout the recruiting process
- Firms struggle to utilize data efficiently, preventing societal understanding and market development within an increasingly intelligent industry
Multi-channel opportunities by connecting ecommerce, retail stores, drive sales, and loyalty
Beyond ecommerce offering in terms of innovation through, e.g., IoT equipped hardware and additional value add services for users (e.g., for tennis)
Focus on digital “mobile” first to attract younger target groups (e.g., shoppable app concepts)
Strong community approach and community building objective to dominate the user’s ecosystem and provide value-added services
Implementation of customer centricity along the whole lifecycle of a customer and increase penetration and customer lifetime value
Focus on building trust
Increase customer confidence and loyalty through website and digital channel optimization that eases logistical structures
Harness effortless purchase
Harness customer value and impact by orienting structure around the positive impact of an effortless purchase
We help e-commerce leaders meet competitive worldwide demands. Our industry knowledge and research on both consumer and online data help establish our clientele at the forefront of industry expectations. We want to help our clientele establish themselves through ground-breaking procedures across all e-commerce touchpoints.
Our international team has assisted >700 realized projects in digital strategy, digital operational excellence, data science, and transaction advisory services. With a team that speaks over 20 languages, and a 50% female-male ratio, we ensure both effective communication and representation throughout the advisory process.
Future winners think about marketing/sales optimization and growth in new ways, actively pursuing multiple digital transformation dimensions. Here is how, by integrating its business and technology strategy with the right partner, CWS built future growth for more than 10,000 employees and a 2019 revenue above €1,180 million!
- >4.5 billion € total revenue
- >10,000 employees
- >1.180 million € revenue in 2019
Planet Sports is a leading provider of action sports and streetwear products. Based in Munich and with 20 years of company history, the company has 12 retail stores and operates an international online shop (omnichannel approach).
- OMMAX supported Planet Sports’ international digital transformation and the successful analysis of 10 data silos
- The set-up and execution of the digital strategy involved 8 departments and resulted in +16.9 pp
- Digital initiatives resulted in -16 % toxic revenue cut for Planet Sports