Manufacturers should explore new smart and connected solutions for purchasing, packaging and delivery to keep up engagement with the third of consumers worldwide (32%) that claim digital advancement often/always influences their product choices during lockdown, according to GlobalData, a leading data and analytics company.
GlobalData’s latest report, “COVID-19 Case Study: Technology Solutions”, notes that some retailers are implementing virtual reality (VR) solutions to offer a more engaging visual e-commerce/v-commerce experience for shoppers. These offer a more familiar and visually appealing setting to consumers compared to the normal e-commerce – especially for those who are disabled or have limited exposure to physical stores.
Ramsey Baghdadi, Consumer Analyst at GlobalData, comments: “Brands are progressing from the relatively simple social media campaigns at the initial stages of the pandemic to more innovative solutions such as artificial intelligence (AI) and robotics. In the on-going lockdown conditions many countries face, it is expected that brands are adopting more of a digital space. However, manufacturers need to ensure that their digital solution aligns closely with their product/service. The digital strategy should ensure it goes beyond a social media campaign to boost consumer engagement.”
GlobalData’s report also explains the importance for inclusivity during the crisis, as 14% of older populations (65+) are starting to use digital platforms more often. Retailers have, for instance, been partnering with forward-thinking start-ups to develop solutions through robotics; Tesco’s partnership with tech start-up Starship Technologies to create delivery robots provides an opportunity to introduce a forward-thinking solution for consumers to minimize consumer contact and is accessible of all age groups.
Baghdadi comments: “Robotic partnerships in foodservice and retail align closely with consumer needs. It’s the increase in efficiency such as speedier delivery times that matter, and this allows chains to allocate more employee work time for other tasks – saving costs.”
For more information visit www.globaldata.com
For more Technology news follow i-invest Online.
- AI is not one technology – and leaders should stop treating it that way
To prepare effectively for the future, Mehdi Paryavi argues that businesses should stop viewing AI as a single phenomenon and start focusing on agentic AI as distinct from today’s generative tools Reports about the AI boom are now your quotidian fare. You can easily find analysts proclaiming, “X percent of companies are now using AI,”… Read more: AI is not one technology – and leaders should stop treating it that way - Why the best sustainability investments don’t depend on customers caring
Consumer belief is the riskiest asset on the balance sheet, argue Goutam Challagalla and Frédéric Dalsace. The real question is whether customers would buy it anyway For more than a decade, ESG-linked funds and corporate sustainability strategies have run on the same quiet assumption: spend more on sustainability, and the market will eventually reward you… Read more: Why the best sustainability investments don’t depend on customers caring - Progress on environment stalls as pressure to deliver immediate returns mounts
New research reveals how a growing focus on short-term financial performance is delaying investment in sustainability and transition planning, potentially exposing organisations to greater long-term costs and operational risks A new analysis of 52 leading AEX and DAX-listed companies by Erasmus University Rotterdam, Nyenrode Business University, and ftrprf highlights the growing gap between financial performance… Read more: Progress on environment stalls as pressure to deliver immediate returns mounts - Why promising social ventures fail – and the solution emerging to prevent this
Misunderstandings between investors and founders are damaging social innovation, research suggests – but a new tool aims to build stronger bridges between them Social innovation ventures commonly collapse because of misunderstandings and miscommunications between venture leads and impact investors, new research from Durham University Business School reveals. As a result, promising projects which can address… Read more: Why promising social ventures fail – and the solution emerging to prevent this - Six new books that underline the value of fresh ideas about money
These sharp new reads explore the developments and behaviours transforming the world of commerce and the opportunities that lie within From leadership under pressure to the hidden forces shaping global wealth, this collection of new business books offers more than just fresh thinking – they challenge many of the assumptions that underpin how we earn,… Read more: Six new books that underline the value of fresh ideas about money