If there was an overall theme to all of my learnings at Consumer 360, it was digital maturity. It’s no longer about your next pilot or stats to prove the validity of the space; it’s about being smart and digitally savvy across all of your business units. If not, you may be vulnerable to someone who is.
“Data is the new oil.” – Daniel Zhang, CEO of Alibaba
Although not a new phrase, it’s worth taking note that one of the most powerful men in the Chinese technology world is openly stating that data will join the ranks as one of the most prominent trade goods. As a commodity, data needs to be judged for more than just its size, but also for quality and scarcity, whether that means the immensity of data in developed markets or the scarcity of data in developing economies.
“Leaders are all about purpose, never about me.” – Retired General Colin Powell, former U.S. Secretary of State
This quote is powerful, especially as you think of how companies lead. As consumers expect more and more corporate transparency, companies without a clear purpose will struggle to become passion brands. Some companies already do a great job of conveying their purpose, like Ritz Carlton’s “We are ladies and gentlemen serving ladies and gentlemen.” Or maybe like Google you require a Ten Commandments-esque format that includes Google’s well-known phrase “You can make money without doing evil,” and company rally calls like “Great just isn’t good enough.” Powell claimed when a group is lead by a purpose and not by a single charismatic leader, everyone is empowered to make decisions and drive success.
“Millennials don’t need to feel the fruit.” – Conference Attendee
As we discussed the tension between mobile commerce and brick and mortar, we agreed that the differences in shopping behavior between the generations raised with digital and the generations raised without digital require a revision of conventional shopping experiences. Especially as we looked at rapid changes in grocery, we acknowledged that quick delivery and low tolerance for waiting has driven many millennials to digital alternatives of the grocery experience.