The technology-enabled consumer’s shopping journey weaves in and out of many channels (web stores, mobile apps, social media, e-mail, kiosks, physical stores, contact centers and more).
During this journey consumers leave ever-larger digital footprints with a growing trail of personal data. This raises numerous questions and concerns, including:
• Who owns the data?
• What is the value of the data?
• How is the data being collected?
• How is the data being used?
• How is the data being protected against misuse?
Mutual Value is Key to Improved Digital Engagement
This growing complexity points to the importance of addressing digital engagement as a strategic business issue. Common principles at industry level can serve as a global foundation for creating an interoperable, flexible and accountable framework for coordinated multi stakeholder action. To develop trust and level the digital playing field requires balancing different stakeholder needs, with a goal of ensuring mutual value. Think of it as a “value triangle”: value to the consumer (in the form of rewards, better deals, more relevant offers, etc.), value to the business (improved insights, greater efficiency, more profitable growth), value to the society (improved efficiency, greater corporate social responsibility).
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