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This is how companies can develop a profitable business model despite recession

Published: February 7, 2023, 9:00 a.m. Updated: February 7, 2023, 10:06 a.m.The recession that followed the pandemic has meant difficult times for many players in retail and e-commerce, but the industry has also faced setbacks before. In order to ensure their profitability, companies therefore need to develop a long-term sustainable business model – something that can be easier said than done. The percentage who shopped online rose sharply during the pandemic, which resulted in busy days for the e-tailers. As the restrictions eased, however, the trend turned; the growth curve began to point downwards again, to the great concern of many players. In order to create a more detailed overview of how retailers and e-tailers have responded to the new conditions, the digital consulting company Publicis Sapient conducted an in-depth study in 2022, together with Salesforce and Ipsos. The study – E-commerce Investments of Global Retailers – unsurprisingly found that many retailers believe that the pandemic has changed retail forever and expect continued growth going forward. A more surprising result was that, despite the development, many e-retailers have had problems with profitability. – The study shows that players with a primary physical presence had a tough time during the pandemic, but now we see that even dedicated e-retailers are having a harder time. Stores that combine physical and digital presence thus have an advantage, as they can offer better customer service, says Björn Elmberg, Nordic manager for Retail and consumer products at Publicis Sapient.Gap between desire and delivery9 out of 10 decision makers in the study say they know which measures will improve profitability, but around 50 percent still struggle with implementation. – Change easily becomes both expensive and complicated and takes time and energy away from other things. All changes also need to have a long-term perspective, and it can therefore be difficult to know where to start. The most important thing is therefore to take the first step and then take the next step when you see results from the first. There are often measures that quickly produce results without requiring large efforts. Björn also highlights the collection and use of data as a decisive factor in identifying what is important to customers and seeing which ones are profitable – an often complex task that requires extensive competence . An experienced partner can therefore be the key to a successful implementation. Global Publicis Sapient has extensive experience in streamlining for profitability and at the same time improving the customer experience. – Our insight into what drives profitability and customer satisfaction means that we can always recommend the most suitable solution that ultimately helps our clients achieve higher growth and ensure their profitability, concludes Björn . About Publicis SapientPublicis Sapient helps companies in digital strategy and in realizing seamless customer experiences regardless of the choice of channel. We have over 50 offices worldwide, including Stockholm, Gothenburg and Malmö, where we work together with, for example, Pandora, Clas Ohlson, Tetra Pak and Essity. Read more at: www.publicissapient.com The article is produced by Brand Studio in collaboration with Publicis Sapient and not an article by Dagens industri

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