Connected Consumers - and the Agile Supply Chains that serve them
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Today’s connected consumers demand informed choices, faster delivery, and seamless shopping experiences, compelling manufacturers and retailers to collaborate and utilize data effectively. Despite the abundance of data from various sources, organizations face challenges in analysis and decision-making due to silos and resource constraints. Leveraging collaborative data discovery platforms can help transform insights into actionable strategies that align product development and supply chains with consumer preferences, ultimately enhancing customer loyalty and competitive advantage.
Connected Consumers - and the Agile Supply Chains that serve them
- 1. Connected Consumers and the agile supply chains that serve them
- 2. Today’s connected consumers are: Informed with unlimited access to product data and the opinions and experience of others Empowered with choice and swayed by price, convenience, and service rather than traditional brand loyalty Demanding faster delivery, lower costs, and a seamless shopping experience across channels
- 3. To satisfy consumers and drive growth, manufacturers and retailers must: 1. Collaborate, develop, and share plans, making data a key currency 2. Create a deeper understanding of the consumer 3. Align supply chain, innovation, and promotional strategy with consumer preferences Serving the connected consumer is challenging. Imagine the insight you could have on the connected consumer when you see the whole story that lives within your data.
- 4. 40%of supply chain officers use social media as a source of real-time customer feedback1 Connected consumers provide an unprecedented amount of personal information and product feedback over social media and other digital channels. 1 SCM World Chief Supply Chain Officer Report 2014
- 5. The digital footprint left by consumers is a rich source of insight into habits and preferences, helping retailers and manufacturers design the best products and deepen customer relationships through engagement. But it’s not the only data available.
- 6. Unprecedented amounts of data are available from diverse sources. Manufacturers have data on • Market, category, and brand sales • Competitor performance • Consumer purchase behavior and use • Brand awareness • Loyalty and lifetime value • Customer satisfaction • Supply chain cost and performance Retailers have data on • Transactional and digital browsing • Market basket analysis • Click-and-collect and mobile interactions • Store beacons, sensors, and cameras • Inventory availability and forecasts • Supply chain performance • Syndicated sales data
- 7. Too much data is overwhelming. Resources to analyze the data are scarce. Reporting lags can reduce time-sensitive advantages. Organizational silos are further barriers. But sharing, analyzing, and making decisions using this data is not always easy.
- 8. • The ability to unite disparate data • Agile, real-time discovery • Intuitive visual analysis • Mobile, self-service access at the point of decision • Collaborative capabilities for sharing insight Fortunately, collaborative data discovery platforms help you overcome these barriers by providing:
- 9. Using data discovery to see the whole story, manufacturers and retailers can gain insight into: Real-time stock availability and location Spending patterns and demand signals Local and brand-specific trends Consumer opinions and product use Sales opportunities Click-and- collect preferences
- 10. What happens when manufacturers and retailers apply intuitive visual analysis to align business areas with consumer preferences? Product development Supply chain Retail and marketing • Responsive product design • Flexible production capabilities • Shorter product lifecycles and lead times • Competitive pricing • Accurate demand forecasting • Agile response to uncertain demand • Improved product availability • Efficient logistics • Appropriate assortment and availability • Effective trade promotions and marketing • Seamless omni-channel seamless shopping experience • Excellent customer service
- 11. 2 Stahlberg, Markus and Ville Maila. Shopper Marketing: How to Increase Purchase Decisions at the Point of Sale. 70%of consumer brand choices are made at the moment of purchase2
- 12. By knowing the whole story hidden in their data, retailers and manufacturers will be able to: sense and anticipate demand to make products available to consumers wherever and whenever they want them.
- 13. More and more supply chain leaders are seeing the importance of data discovery as they align their value proposition around customer needs. In fact, 3 key trends emerging among supply chain leaders are: 3 Gartner Supply Chain Top 25 for 2014 Deeper contextual understanding of customers Leveraging digital business as part of broader customer solutions Supply chain leading balanced growth3 1 2 3
- 14. How they come together to share data and collaborate on supply chain can mean the difference between success and failure. Deeper consumer insight drives loyalty and market share, the foundations of competitive advantage. While the goals of manufacturers and retailers often differ, they are united in their relentless consumer focus.