The New Normal: The ‘Phygital’ Customer Experience
• With an increasing tendency to lean towards everything digital, the Covid-19 pandemic has urged domestic and international industries to reimagine what consumer experience means for them.
• As per a recent McKinsey survey, although the physical experience of service is still valued by customers, they are now more than ever interested in contactless services, as approximately half of the survey respondents were willing to pay extra for this service.
• This polarized preference has paved the way for a ‘phygital’ experience — a unique omnichannel approach that marries the convenience and immediacy of online with the interpersonal interaction of physical retail and services.
As Jeff Bezos Steps Down as Amazon CEO, These Four Industries Will Bear His Mark Forever
• Light years beyond book selling, Bezos tenure included the launch of the Prime subscription service, the Prime Video streaming platform, cloud platform Amazon Web Services, an advertising business, and the voice assistant Alexa and its related Echo devices.
• This, said Larry Chiagouris, a professor of marketing at Pace Universitys Lubin School of Business, makes Amazon and Bezos probably the greatest business success story of the past 100 years.
• If I’m not paying for shipping, then every time I need a light bulb, every time I need a battery, every time I need Scotch tape, every time I need a toothbrush, it doesn’t matter if I just think of it, I act impulsively and order it because it doesn’t cost me anything to ship.
The Next Boom: Digital Transformation That Customers Will Love
• Technology and digital transformation can smooth the paths to employee and customer satisfaction, but, alas, it can only smooth, not compel a company to take that path.
• We learned all this in a big way over the past year with the onset of the Covid-19 crisis, and this is the lesson that is delivering success in the months and years ahead as we emerge into a disrupted world.
• The bank, for example, she says, 74% of the bank’s clients are digitally active on its CashPro and BA360 platforms.