Deloitte Digital reaches a range of conclusions from all its number crunching, but ultimately it comes down to this: retailers and brands interpreting a wide breadth of data are faring better than those that continue to see separate channels, in part because they’re better connected to their customers.
“These numbers show that brands are stuck on product differentiation,” according to the report. “This can be relevant when offering luxury goods, but for those feeling competitive pressure from online marketplaces, product commoditization, and new business models, it’s time to add service and convenience into the equation — offering a more holistic consumer experience in the process.”
