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REINVENT NEW WAYS TO SERVE CONSUMERS IN A DIGITAL WORLD

How consumer packaged goods companies and retailers can use new technologies to stay competitive and relevant in a rapidly changing marketplace.

MASTERING THE NEW RETAIL FRONTIER


A digital tsunami is underway, and no industry has felt the brutal force of digital more than retail.

The pressure for traditional retailers to adapt has never been more real or more urgent. Personalization, convenience, speed and flexibility are the new table stakes. Retailers that find creative and sustainable ways of combining physical and digital capabilities to offer carefully curated product assortments and deliver distinctive, differentiated consumer experiences—at scale—will not only survive, they will thrive.

Retail’s Next Frontier

In today’s digital economy, traditional retailers must shift focus from products to experiences. By blending the physical and digital worlds to offer distinct and personalized shopping experiences, retailers can unleash the untapped power of emerging new ecosystems. This paper outlines the critical imperatives that retailers must adopt to survive the digital tsunami and emerge a winner.

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ENABLE A DIGITAL-READY SUPPLY CHAIN


Shifting to digital means rethinking the relationship between physical and digital shelves.

The digital shelf is changing everything. As the majority of consumers move toward buying online, brands must rethink product value and overhaul their supply chains. 

In the digital marketplace, personalization is paramount as price and convenience feed brand loyalty. Traditional drivers of success—shelf positioning and foot traffic—are increasingly less relevant, particularly for younger shoppers. Established CPG companies can thrive in a digital marketplace—but they need to act now.

CPG at the Tipping Point: How Brands Can Win in the New Routes to Market

With consumer packaged goods increasingly moving to digital shelves, the old ways of promoting brands are obsolete. Brand providers will need to rethink product value, meet consumers’ digital and physical ‘moments of need’ and enhance visibility in their demand-based fulfillment models.

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THE IMPACT OF BLOCKCHAIN ON RETAIL


Cognizant recently conducted a global survey to see how retailers expect blockchain to impact their industry and how they are preparing for it.

It may be a nascent technology, but it is likely that blockchain will fundamentally alter the retail industry. With its distributed ledger and shared infrastructure, in combination with smart contracts, blockchain can help retailers streamline operations, ensure product authenticity and enable tighter supply chain collaboration.

While blockchain appears destined to restructure operating models across the retail industry, many retailers are waiting for blockchain networks to consolidate and for optimal retail applications to emerge. Cognizant believes retailers that take a wait-and-see approach will find it difficult to catch up once the direction for blockchain in the retail industry crystalizes.

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Retail Technology: Opening the Doors to Blockchain

Retailers increasingly recognize blockchain’s transformative ability to streamline operations, ensure product authenticity and enable tighter supply chain collaboration, our latest study reveals. However, most are still working to fully understand how to harness its potential inside their four walls and beyond.

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Demystifying Blockchain

Blockchain presents the opportunity to create greater trust, transparency and accountability for online transactions and interactions.  As with any disruptive technology, organizations should first execute proofs of concept as they begin to understand the potential and limitations involved with adopting blockchain.

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TAKE THE FIRST STEP

Serving customers by looking forward as well as back is a big promise, but the power of today's new digital capabilities is vast and growing.

 Let's talk about how digital can work for your business.

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