Deloitte enables brands to take the next leap with SM@rT Commerce strategy has been saved
Deloitte enables brands to take the next leap with SM@rT Commerce strategy
- Unveils a report that focuses on merits of promoting digital mindset and advocates an asset light business model built on the cloud-enabled platform
- Helps organisations go beyond the traditional channel route whilst making international market penetration
- Enables organisations to be flatter (vs hierarchical), nimble, and agile – to grow faster globally with the power of data
National, 25 March 2022 – To attract and retain customers, brands especially new-age enterprises need to think beyond the traditional marketing models and offer an optimal mix of ‘phygital’ experience and ‘convenience’.
In a converging marketing world, online players saw a significant rise in the number of new users (as high as 50 percent for some players) mainly driven by tier 2/3 cities.
Retailers across the world are investing in a more agile, nimble, and asset light business model to keep pace with changing consumer behaviour, government regulations, and investor sentiment. The move would create newer reasons of scale, sustenance, and deeper penetration.
Deloitte released a report ‘SM@rT Commerce : Moving to a platform based business model’ that defines this strategy for enabling businesses to win customer confidence using the power of data, analytics, and technology.
Rise of tech-powered start-ups and online market players, as well as investment commitments by leading brands indicate that businesses have realised the value of building internal capabilities to become an agile and SM@rT organisation.
Anand Ramanathan, Partner, Deloitte India, said, “in our ever-evolving, tech-led world, where most brands are at a nascent stage of adopting digital capabilities, SM@rT commerce enables the company to become more agile and scale more efficiently while minimising risks. It provides company the data for decision-making and enhances sustainability of outcomes and resource acquisition.”
Why ‘SM@rT Commerce strategy?
- Promotes digital mindset: It enables an enterprise to unlock new opportunities activated by digital technologies in a collaborative manner.
- Advocates personalised marketing communication: To stay relevant in this new phygital (physical and digital) commerce environment, brands need to share the right communication at the right time with the right stakeholder.
- Focuses on digital sales and service effectiveness: Using digital technologies (AI, ML, beacon, and automation tools), organisations need to re-align their strategies to focus on customer centricity and offer enhanced experience.
- Uses SM@rT pricing: It is calculated using complex AI/ML algorithms that analyses variables such as demand, competition pricing, and customers’ willingness to pay,
to arrive at the optimal price.
- Ensures effective management of product/service portfolio: Organisations need to identify the potential opportunities and risks, develop the right assortment mix, manage merchandising and resource allocation, and prioritise high-value products/services to come up with a winning portfolio. Such a portfolio improves the topline and captures the customer mindshare.
Notes to the editor for reference purposes only
Deloitte India herein refers to Deloitte Touche Tohmatsu India LLP
This press release has been issued by Deloitte Touche Tohmatsu India LLP.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms.