The Digital Commerce Imperative

Digital commerce is an essential part of doing business for most retailers and consumer packaged goods (CPG) companies. The COVID-19 pandemic has accelerated the need to embrace digital transformation, with the alternative being a significant loss of revenue — or worse.

Enabling digital commerce is not a simple flip of a switch, however. Successful digital commerce must bring together a deep understanding of customers needs, a vigilant focus on security and privacy, and a commitment to improving supply chain agility (including fulfillment). Microsoft commissioned Forrester Consulting to evaluate how retail and CPG companies are approaching digital commerce improvements, especially amid the challenges of the pandemic.

Forrester conducted an online survey of 624 decision-makers responsible for digital transformation strategy and operations from retail and CPG companies in the US, Canada, the UK, Germany, France, Singapore, India, and Australia to explore this topic. We found that retailers and CPGs that are preparing themselves to be most successful with digital commerce are those that give proper attention to all facets of digital commerce, including customer experience (CX), security, and the supply chain.

KEY FINDINGS

• Eighty-three percent of retail and CPG decision-makers agree that delivering a connected and unified experience to customers is vital to their business success — and digital commerce is a key component.
• Digital commerce improvements are focused on three priorities: CX, security, and privacy (including fraud), and supply chain agility.
• Retail and CPG leaders see significant necessity and value in using partners to support and deliver digital commerce improvements.
• Retailers and CPG companies must prioritize digital commerce improvement investments to keep pace with expected digital commerce growth.