FICCI-KPMG-Report-13-FRAMES

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The power of a billion: Realizing the Indian dream
© 2013 KPMG, an Indian Registered Partnership and a member firm of the KPMG network of independent member firms affiliated
with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
The next big opportunity
In a short span of time, digital channels have come a
long way, from just providing information (websites) to
interacting with consumers (blogs, forums, social media)
and providing an actual purchase experience AR. There
is no doubt that technology is rapidly reforming the way
businesses interact with customers. The rise of digital
consumers who shop online, seek recommendations and
interact with brands presents a tremendous opportunity for
companies.
Thus, an in-depth understanding of customer behavior
online and their purchasing preferences has become
essential. Customers live in an integrated online-offline
world, so companies need to aim for suitable presence
on digital channels. New information and communication
technologies are constantly emerging, altering purchasing
patterns. While it may currently be difficult to predict
when and which of these new platforms/technologies
will become mainstream, it is essential to analyze their
potential impact on consumer behavior.
Several companies are already creating digital strategies for
their brands; however, many fail to produce the expected
business outcomes and value through such initiatives,
as these channels and technologies are being perceived
in silos. A holistic and integrated strategy encompassing
consumers, the enterprise ecosystem and channels is the
need of the hour to cater to evolving demands and behavior.
The effective use of such channels can help increase
sales by monetizing demand, improve the effectiveness
of marketing campaigns, enhance product development,
drive multi-channel commerce and, above all, strengthen
consumer engagement.
“
A Digital Consumer expects a seamless,
consistent experience regardless
of hardware or software. They also
want relatable, intuitive and intelligent
technologies enabled on their devices.
Going forward, we will see a multitude of
devices that will continue to get smarter,
more power-efficient and more intuitive.
Very soon devices will respond to voice,
gestures and moods, and will interact
with each other to provide more value and
intelligence to the digital consumer.
“
- Kumud Srinivasan
President,
Intel India
Digital
consumerism
“
Digital Media in no longer just a mere spoke
in the wheel; but the very axle that can drive
the wheels of a marketing campaign. We,
as a company, are very clear that Digital
Media is here to stay in a huge huge way!
Which is why we have complete crossfunctional
teams support to further the
digital momentum of the company.
At Shoppers Stop, we don’t retrofit ‘digital’
into our existing campaigns. Rather, we
create specific content for digital media;
and sometimes even use offline mediums to
supplement these campaigns. Whether it is
developing Augmented Reality campaigns,
the most Fashionable Facebook Profile
picture contest, #SSTweetStore, exclusive
mobile apps, and much more; each such
element receives its due digital diligence.
Growth and
Maturity
Feeder Cycle
- Kumud Srinivasan
President,
Intel India
The diagram above shows the interplay between digital
consumerism and disruptive technologies. The increasing
adoption and usage of technologies by consumers is fueling
the growth and maturity of technologies and vice versa.
This phenomenon is the key driver for convergence of new
age technologies. In the following section, we discuss six
technologies that KPMG in India thinks will bring about a
tectonic shift in the business-consumer ecosystem.
“
Disruptive
converging
technologies