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Digital Transformations For A Retail Brand

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col-sm-12 col-xs-12" style="display:none;"><input type="hidden" value = 8 id="flag_val"/><div id="youngest"><span class="Georgia16">Editor's Pick </span><span class="Georgia10">(<span id="sldtext">1 - 4</span><span style="font-size:14px;"> of 8</span>) </span></div><div id="arrow"><a href="javascript:;" class="left_cntrl_top"><img src="/images/arrow1.png" alt="left" border="0" id="arr1"></a></div> <div id="slideInner"><div class="content" style="display: block; margin: 0px auto; width: 100%;" id="content_1"> <div class="box1" id="huge"> <div class="senior"><a href="https://digital-transformation.cioapplications.com/cioviewpoint/covid19-is-accelerating-digital-transformation-in-the-public-sector-nid-6933.html?utm_source=google&utm_campaign=cioapplications_topslider" target="_top"><img src="https://www.cioapplications.com/newstransfer/upload/gs3kk423.jpg" alt="COVID-19 is accelerating digital transformation in the public sector" title="COVID-19 is accelerating digital transformation in the public sector" border="0"></a></div> <div class="senior1"><h3><a href="https://digital-transformation.cioapplications.com/cioviewpoint/covid19-is-accelerating-digital-transformation-in-the-public-sector-nid-6933.html?utm_source=google&utm_campaign=cioapplications_topslider" target="_top" class="Georgia16" style="text-decoration:none;"> <span style="">COVID-19 is accelerating digital transformation in the public sector</span> <br> </a> <span class="Verdanabold" style="color:#000;font-size: 12px;font-weight: normal;">Jonathan Behnke, Chief Information Officer, City of San Diego</span> </h3></div> </div> <div class="box1" id="huge"> <div class="senior"><a href="https://digital-transformation.cioapplications.com/cioviewpoint/last-infrastructure-environment-high-performance-computing-nid-1351.html?utm_source=google&utm_campaign=cioapplications_topslider" target="_top"><img src="https://www.cioapplications.com/newstransfer/upload/kmrfo444.gif" alt="Last infrastructure environment - High 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style="">Cheers to More Digital Partnerships in the Corporate World</span> <br> </a> <span class="Verdanabold" style="color:#000;font-size: 12px;font-weight: normal;">Pierre-Yves Calloc’h – Chief Digital Officer, Pernod Ricard</span> </h3></div> </div> <div class="box1" id="huge"> <div class="senior"><a href="https://digital-transformation.cioapplications.com/cxoinsights/innovation-through-scientific-experimentation-nid-10716.html?utm_source=google&utm_campaign=cioapplications_topslider" target="_top"><img src="https://www.cioapplications.com/newstransfer/upload/v41n327.jpg" alt="Innovation through Scientific Experimentation" title="Innovation through Scientific Experimentation" border="0"></a></div> <div class="senior1"><h3><a href="https://digital-transformation.cioapplications.com/cxoinsights/innovation-through-scientific-experimentation-nid-10716.html?utm_source=google&utm_campaign=cioapplications_topslider" target="_top" class="Georgia16" style="text-decoration:none;"> <span 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#000 !important;} a {color: #000 !important;} #riz{margin-left: 15px !important;} /*@media screen and (min-width: 320px){ #desc_img_right{ width:100% !important; }}*/</style> <input type="hidden" name="nid" id="enid" value="10961"><div class="row"><div class="col-md-12" id="newsdescr"> <!-- CIO Applications Adsense--> <div class=""><div id="borderlinestyle" style="margin-top: 0px !important;"><img style="width: 100%;" src="https://www.cioapplications.com/images/line.png"></div><div style="float: left;margin-right: 10px;"> </div><h1 style="font-size: 22px; line-height: 31px; font-weight:600; margin:3px 0;">Digital Transformations For A Retail Brand</h1> <p> Larry Chan, Head of Digital, Asia, Aesop</font></p> <!-- social counters start--> <div id="innovation"><table width="592" border="0" style="border-bottom:0px; border-left:0px; border-right:0px; border-top:0px;"><tbody><tr><td valign="top" align="left" style="border-bottom:0px; border-left:0px; border-right:0px; border-top:0px;display: inline-flex;"> <div id="conference" style="width: 66px;"> <a href="https://twitter.com/share?text=Digital Transformations For A Retail Brand#cioapplications via @CIOApplications&url=https://digital-transformation.cioapplications.com/cxoinsights/digital-transformations-for-a-retail-brand-nid-10961.html" class="twitter-share-button">Tweet</a> <script>!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+'://platform.twitter.com/widgets.js';fjs.parentNode.insertBefore(js,fjs);}}(document, 'script', 'twitter-wjs');</script> </div> <div id="conference"> <div id="attend"> <script src="//platform.linkedin.com/in.js" type="text/javascript"> lang: en_US </script> <script type="IN/Share"></script> </div> </div> <div id="conference" style="line-height: 0px;"> <div id="fb-root"></div> <script>(function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if 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src="https://www.cioapplications.com/images/line.png"></div></div> <div class="col-md-12" style="padding-left: 0px;padding-right: 0px;"><div class="section" id="desc_part"> <div class="section"><div class="col-lg-5 col-md-5 col-sm-5"><div class="text_style para-space"><div class="news-float"> <img src="https://www.cioapplications.com/company_logos/3urk.3001.jpg" alt="content-image" style="margin-right:10px; margin-bottom: 10px;" class="news-img-col news-img-col2" /><p class="head-new" style="font-size: 14px;font-weight: bold; color: #000; border-top: 1px dotted rgb(221, 221, 221); border-bottom: 1px dotted rgb(221, 221, 221); clear:left; line-height: 20px;">Larry Chan, Head of Digital, Asia, Aesop</p> </div><b>1. Why digital transformation is not just about technology?</b> </p><p>There is a common perception about digital transformation is a technology project. In reality, there are far more than only a technology considerations. It requires a clear vision of the company business model that identifying new revenue streams and optimize existing process for the digital era. Technology for sure still play an important role for providing right solutions to the revamped business needs. Employee also has to be equipped with change/growth mindset for embracing the transformation which relates to the company culture. Inevitably, there will be change in skillsets to operate the new business while its essential the company has to build the learning muscle and provide the learning opportunities. As it’s a transformation, it can be continuous process for many years instead of a once off success. Its not hard to imagine the challenge of transformation requires lots of re-integration, system redesign, workflow redesign, data reconciliation. A right KPI/OKR has to be in place to prevent a too early call off of the project just because there are no immediate results. </p><p><b>2. Why digital transformation is so critical for a retail business?</b> </p><p>As a retail brand, its at the core of catching up the pulse of consumer appetite. With the increasing penetrations of smartphone and IoT, consumers expectation is changing ever faster. They are looking for a seamless, personalized and convenient shopping experience. </div></div><div class="col-lg-7 col-md-7 col-sm-7"><div class="text_style">Digital transformation enables more channel integration, more holistic design on customers experience in both online/offline and data driven approach for making decisions. In the eyes of customer, they don’t see brands from a channel perspective. Its purely their personal preference to choose between channels based on the product availabilities and unique channel offering. Sometimes Brand even need to deliver beyond expectations in order to retain a customers. With the rising privacy concerns, brands has to rely more on the 1st party data and so acquire the data via cross-channel touchpoints with a centralized depository is essential. Last but not least is also the operation efficiency that digital transformation can help to increase so marketer or frontline can even spend more time to interact with the customers. </p><p><div class="quote"> <blockquote style="margin-left: 0px;padding: 10px 10px 10px 10px;"> <div class="quote-inner"> <p class="says">With the rising privacy concerns, brands have to rely more on the first party data and so acquiring the data via cross-channel touch points with a centralized depository is essential</p> </div> </blockquote> </div><br /> <b>3. How does good looks like for a successful digital transformation ?</b> </p><p>It is a common challenge to visualize how much efforts has been spent in digital transformation as change just doesn’t happen overnight. It is not hard to getting buy in at the beginning but after months or years, stakeholders will start to question how big is the impact are being generated from the project. Without a proper indicator in place, project leader will find there is increasing resistance. Some suggestions below can be a quick win but actually can support the continuity of the project until everyone see a significant shift of business model. Define you vision with milestone, short term and long term goal to allow stakeholders to easily track the transformation progress. Shift of business to certain channel / segment / products is a direct indicator. Customer experience should be improved with customer feedback, CSAT, Retention Rates, U&A studies as an objectives measurement. Data availability, accessibility, accuracy should be another way to evaluate the digital transformations. Employee engagement and satisfaction will result in a positive trend as efficiency is improved. In conclude, part of the project is all about communications and don’t be shy to repeat the progress in all internal channel in order to get a wider company to support the transformations. </div></div> </div> </div> </div></div> <style>#riz { float: left; margin-right: 30px; margin-top: 8px; }#riz h3 { display: inline-block; position: relative; padding: 0 14px; margin: 0; height: 27px; font-size: 11px; font-weight: normal; letter-spacing: 0.2px; line-height: 26px; text-transform: uppercase; background-color: #43A3D6; color:#fff; border-radius: 0px; margin: 2px 0 7px 8px;}</style> <section class="tag"> <div id="riz"> <img src="/images/tag_img_30_30.png" alt="tag" style="float:left;"/> <a href="https://www.cioapplications.com/customer-experience/"><h3 class="title">Customer Experience</h3></a> <a href="https://www.cioapplications.com/iot/"><h3 class="title">IoT</h3></a> </div></section> </div> <script type="text/javascript">$(window).on('load', function() { var hig = 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