What do we mean by digital transformation? It’s not just about building a better e-commerce site, utilizing social media channels, or refining your sales pipeline (as crucial as those are). It’s about using data and technology to upscale your product and channel capabilities.
In 2020, we’ve seen the acceleration of trends already underway before the onset of this year’s health and economic crises. The pace of digital adoption quickened, straining how companies have traditionally developed the product, channel, and demand strategies to meet evolving consumer needs. While today’s market may be unusually volatile and dynamic, we nevertheless expect that these trends will continue to build long after the current crises subside.