Digitalisation has changed the way consumer purchase and this has impacted the traditional retailers where sales from brick and mortar stores standstill while online retailers are growing at double digits. Furthermore, digitalisation continues to advance rapidly, infiltrating the walls of traditional retailers, where consumers are armed with smartphones and a higher set of expectations.
As digitalisation continues, the concept of brick and mortar stores will not be going away. In fact, more than 80% of retails sales still happened at the physical store. Therefore, for retailers to thrive, they need to re-imagine and redefine their stores for the digital age. Traditional retailers have enormous opportunity to leverage on the digital waves that transport the digital world to their stores building captive customers, loyalty and generates brand value. Now, how and where can retailers start their digitalisation journey?
Introducing Digital Strategy Programme
Singapore Productivity Centre (SGPC) and McKinsey & Company, in partnership, has devise a Digital Strategy Programme to support retailers with Digitisation Journey with customised digitalisation blueprint to start their journey and identifying retailers’ digital strengths and weakness across different business functions and benchmark against industry peers.
This programme adopts a step-wise modular approach to support retailers on their digitization journeys with the following 4 components:
Retailers will attend a digital masterclass to get started in their “Digital transformation” journey through a series of interactive group discussions and inspiring case studies.
Retailers will be able to understand their Digital Starting Point through Digital Quotient™ and Digital Capabilities™ self-assessments. A customized report will be provided on the starting point as well as the specific gaps to close to “great”
Retailers will kickstart on their own digital roadmap through facilitated expert workshops to learn new digital skills, structured ‘homework’ to define plan as well as expert inputs to make sure you develop a well-defined digital roadmap with actions for your company
Once retailers started their implementation, they will also receive expert guidance along the way to ensure the company is on track.
Who should embark on this programme:
– Retailers who wish to start their Digitisation Journey