Development of consumer
Nowadays, business is progressively opposing on communications quality with the consumers and the companies are allowing the technology.
Although, John Cosgrove mentions that offering consumers with the proper communications are supporting in consumer retention on getting new consumers.
However, it is an unpleasant tool as consumers are looking for. Although, the noise is getting louder and signals of competition are switching to e-commerce. Thus, it is organizing for doing things such as genuine signals cutting from that noise.
Though, lecturer, University of NSW, Felix Tan mentions that marketplaces and agile platforms are Amazon, Google, Tencent, and Alibaba. However, they are investing enormously in machine learning, analytics, artificial intelligence and R&D for understanding the consumer.
Tan claims that while investing in advanced technologies, the base is an investment for improving the operation of companies. Thus, it is quickly responding and sensing to the change in lifestyle of customer and requirement for consumer retention.
Although, it is making the journey maps of consumers and the digital experience on the habits of purchasing.
Difficult for managing data
Tan claims that the best instance of a retailer making the usage of consumer data is Woolworths. Thus, they are capitalizing in the best deal in technology and going through the enhancements in the digital transformation. However, it is developing the experiences of shopping for customers.
Hence, it is difficult for managing and harnessing the data of companies having from several social media channels. Whereas the data companies are gathering about consumer information and purchases.
Tan claims that with the large data, companies are going through digital transformation for building the capabilities technology. However, it is having the ability to handle the data for enhancing the decision.
Hence, Cosgrove mentions the significance of the experience of the consumer coming as the online seller is increasing my business. Although, Cosgrove even claims that the concept is echoing for getting it to shop. Thus, driving the idea behind the experience of the consumer is concentrating on the idea of claiming the in-store experience.