2019 promises to be full of new opportunities to learn from one another and the one thing that is constant will be change!
In 2018 we saw changes such as:
- More and more CPG companies turning to e-commerce for growth and direct-to-consumer connection — the convergence of online with brick-and-mortar, emphasis on the end-to-end consumer experience from search and buy to delivery and post-sales service.
- More B2B e-commerce as well. Firms will need new capabilities and competencies to keep pace and derive value; B2B is different than B2C. Amazon Business is a big factor — and getting bigger.
- Digital transformation is a strategic priority for operational efficiencies, data analytics, and product/service innovation. The addition of tools such as AI, machine learning, sensors, VR, and AR to enable more customization, personalization, and product differentiation.
- Open innovation has grown up; partnerships have evolved to become ecosystems that integrate products, services, and networks. Established companies are increasingly collaborating with start-ups and digital natives to reach today’s consumers.
- Organizational culture is becoming more flexible, adaptive, and experimental. The need for internal collaboration has intensified with the push for digitalization and instant 24/7 delivery.
- Risk-taking and long-term strategic thinking are essential. If companies don’t disrupt themselves, unseen competitors most certainly will!
We live in ‘interesting’ times indeed, with new challenges and exciting opportunities ahead.
As our Innovationedge team reflects on this holiday season, we wish you glad tidings and a New Year of big ideas and much success!
One of the greatest joys of this season is the opportunity to say thank you and to wish you the very best for the New Year.