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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.

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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INTEGRATE THE PHYSICAL AND DIGITAL CHANNELS


The number of millennials, expected to reach 80 million by 2025, will dramatically change “business as usual.” Only those retailers who can provide an immersive and interactive customer journey will succeed.

This increasingly powerful consumer segment expects the latest technology to be applied from the time they start researching products, through purchase, shipping and delivery. Their preference for visual and experiential retail calls for technologies like augmented reality to make purchases an immersive, interactive and personalized experience.

The most successful retailers will be those who embrace digital technologies and envision innovative ways to serve their customers.

The Road to 2025: Retail, Reimagined

Retailers that emerge successfully from the shock waves hitting their industry will be those that reinvent their physical stores and supply chains to meet digital consumer needs.

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The Future of Stores: Yes, There is One

The key is digitally retooling the store experience to deliver on consumers’ social shopping preferences and desire to feel valued across every touchpoint.

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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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