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1、2024 Consumer StudyIBM Institute for Business Value|Research InsightsRevolutionize retail with AI everywhereCustomers wont wait2IBM has been providing expertise to help retail and consumer products companies win in the marketplace for more than a century.Our researchers and consultants create innova
2、tive solutions that help clients become more consumer-centric by delivering compelling brand and store experiences,collaborating more effectively with channel partners,and aligning demand and supply.With a comprehensive portfolio of solutions for merchandising,supply chain management,omnichannel ret
3、ailing,and advanced analytics,IBM helps deliver rapid time to value.With global capabilities that span 170 countries,we help brands and retailers anticipate change and profit from new opportunities.For more information on our retail and consumer products solutions,please visit: https:/ IBM can help1
4、Retailers and brands are falling short of consumer expectations.Only 9%say they are satisfied with the in-store shopping experience and only 14%say the same for online shopping.Connected data unifies the customer experienceif brands can earn trust.52%of consumers want to receive information,advertis
5、ements,and offerings from stores that are relevant to their specific interests.But 40%say they want more control over how companies use their data.Consumers need relevant information to shop sustainably.Consumers want to see how companies measure up in the areas they most care about,such as the use
6、of safe and natural ingredients and recycled materialsbut companies arent providing enough information.Shoppers want payment options that give them more for their money every time,everywhere.Nearly half(46%)of consumers would like to pay for their purchases in installments and more than two-thirds(6
7、9%)would like to pay with loyalty or rewards points.Most consumers are eager to streamline shopping with AI.Roughly four in five consumers who havent yet tried AI for shopping would like to use it to research products,look for deals,ask questions,and resolve issues.AI simplifies shopping by giving c
8、onsumers the contextual information they need to make better,faster decisions.Key takeaways23Consumers are ready to use the tools of tomorrow,todaybut most brands arent delivering Todays technology can make shopping faster,easier,and more precise than ever before.So why are consumers still waiting i
9、n line?From slow checkout lanes to absent associates,in-store shoppers are still struggling with the same headaches theyve always faced.Online,the situation is only slightly better.According to our survey of 20,000 consumers across 26 countries,only 9%of consumers say theyre satisfied with the in-st
10、ore shopping experience.For online shopping,that figure climbs to just 14%(see“Study methodology,”page 25).Consumers know brands and retailers can do better.Leading digital experiences have shown them whats possible,and they now expect companies to infuse technology to enhance their shopping journey
11、.More than half say they would like to use virtual assistants(55%),augmented or virtual reality(55%),and AI applications(59%)as they shop.Whats more,nearly a quarter(23%)of consumers are“tech enthusiasts,”mainstream technology users with an active desire to try new digital shopping experiences.These
12、 early adopters are also the best brand ambassadors,with 70%saying theyve introduced friends and family members to a new brand or product in the last six months.Another 45%are“tech experimentalists,”individuals who arent yet mainstream users but are open to exploring digital shopping journeys.Half o
13、f these consumers have introduced products or brands to their network in the last six months.Introduction4Connecting with these influential customers requires adeptly tapping technology to make experiences more contextual and customized.But these experiences are just part of the equation.Consumers s
14、ay theyve recently switched brands for a variety of reasonswith price topping the list.As inflation and economic uncertainty pinch pocketbooks,62%of consumers say price is a top reason they would switch stores or brands.Six in 10 also say inflation has impacted how they shop,with this figure only dr
15、opping to 50%for the affluent.The same portion say they always look for deals before making a purchase.If they cant find the product at the price they want,most consumers will rethink their purchase rather than pay more.In fact,77%of consumers across all income groups say they make tradeoffs when pr
16、ices are too high(see Figure 1).3 in 5 consumers would like to use AI applications as they shop.77%say they make trade offs when prices are too high.60%always look for deals before making a purchase.FIGURE 1Price is top-of-mind as inflation limits consumer purchasing powerAnd45To give consumers ever
17、ything they want while still protecting profit margins,many retailers and brands are turning to AI and other technologies.The right applications can deliver higher-quality products and richer experiences at a better price.They can also add value by operationalizing and showcasing sustainability,whic
18、h our survey reveals as a major business need:73%of consumers who say sustainability is important are willing to pay more for products branded as environmentally sustainable,up from 50%in 2022.1 Yet,despite the supercomputers in their pockets,consumers must often spend hours searching for the right
19、products,scouring reviews,comparing prices,and assessing sustainability.73%of consumers who care about sustainability are willing to pay more for sustainable products up from 50%in 2022.In this environment,AI can make shopping easier by giving consumers the information they need to make better,faste
20、r decisions.When technology is integrated to improve their experiencesnot added as an afterthoughtbrands and retailers can finally deliver the convenience and flexibility consumers have come to expect.Here are three growth imperatives that brands and retailers face in the AI eraacross experiences,su
21、stainability,and operationsand actions to help them outpace the competition in a time of rapid change.67Shoppers are no longer content with one-size-fits-all experiences.Todays consumers want real-time,contextual informationno matter where or when they shop.As they move across touchpoints,consumers
22、expect companies to recognize them,remember their preferences,and serve them appropriately.They want to easily access their orders,shopping carts,and purchase histories every step of the way.They crave more choices but less hassle,with accurate inventory data,delivery timelines,and targeted offers a
23、vailable in real time,at the click of a button.Most of all,they want things to just work.But they often dont.To deliver the streamlined experiences consumers expect,brands and retailers must create connected experiences,personalize the journey,enable shopping platforms,and make paying more convenien
24、t.Connected,unified experiences keep customers engagedConsumers are interested in using next-gen tech to improve their shopping experience.At least three-quarters of those who havent used augmented and virtual reality for shopping would like use it to try on wearable products(75%),shop for products
25、or services(77%),redecorate their homes(79%)or research products(81%).This technology can help companies create immersive omnichannel experiences that unify in-store and online interactions with the brand.Experiences must be seamless,dynamic,and contextual Chapter 18Consumers are also intrigued by t
26、he opportunity to use AI when they shop.Roughly four in five consumers who havent yet used AI for shopping would like to explore how it can help them research products or get product information(86%),look for deals and promotions(79%)or get service,ask questions,and resolve issues(82%)(see Figure 2)
27、.AI-powered virtual assistants can help customers do all these things and moreif they can responsibly tap connected customer data.For example,text-based generative AI assistants can tap customer support emails,call transcripts,and purchase history in real time to serve up more helpful suggestions in
28、 natural language.Q.For those who havent used AI applications for shopping activities,what would you like to try?FIGURE 2Consumers want AI to simplify the shopping journeyAs a result,many companies are moving in this direction,investing heavily to leverage generative AI to differentiate the shopping
29、 experience.More than four in five(84%)expect to use text-based generative AI assistants with customers by 2025,up from 42%in 2023.2 However,many of todays customer-facing virtual assistants still lack the training,capabilities,and skills needed to understand basic requests and answer customer quest
30、ions.As a result,only about one-third of consumers who have used virtual assistants are satisfied with the experience.In fact,nearly 20%were so disappointed that they dont want to use virtual assistants again.Look for deals or promotions79%Get service,answers,or resolve issues82%Look for reviews or
31、recommendations78%Shop for products or services77%Research products or get information 86%8QA9Data-driven personalization demands good governanceSearch is another area where generative AI could help unify the shopping experience.Its understanding of conversational language,paired with its ability to
32、 quickly contextualize customer data,helps it predict what customers want more accuratelyand offer more targeted product suggestions.Rather than using filters to search for products,customers can refine a search by specifying key product details,such as color,size,or material,in natural languagetype
33、d or spoken.They could even include their budget,sustainability priorities,or target delivery date to narrow search results.In this scenario,not only do customers get what they need easilythey also provide valuable data that a retailer can use to serve up offerings based on an individuals lifestyle,
34、not just what theyre searching for today.Companies that get this right have the opportunity to boost both basket size and brand loyalty.But consumers want to know how their information is being used(44%)and want more control over how companies use their data(40%).To build trust with wary consumerswh
35、ile also offering the unified experiences they wantcompanies must get customers explicit permission to track and analyze their behavior.Setting expectations up front for every interaction can make customers feel like theyre being catered to,rather than spied on.By clearly outlining what data theyre
36、collecting,as well as how it will be used and shared,brands and retailers can avoid offending the people theyre hoping to impress.When contextual experiences are also consensual,customers are in controland thats what they want most.Integrated shopping platforms put consumers in controlRetailers that
37、 push to collaborate more closely with ecosystem partners can gain an advantage by giving consumers greater choice.In fact,55%want to shop for products from multiple brands on a marketplace with a single checkout,with that figure inching closer to two-thirds for Gen Zers(62%)and Millennials(64%).And
38、 more than two-thirds(69%)of consumers want to pay with rewards points,which may come from their credit card or another external loyalty program.These demands push retailers and brands to rethink how they connect people with products and how their technology connects to external systems.From point-o
39、f-sale systems to social networks to e-commerce portals,companies need to find new ways to eliminate friction in the shopping journey and payment process.At the same time,they need to break down internal barriers to connected data to create more unified and personalized customer experiences.Nearly t
40、wo-thirds of Gen Zers and Millennials want to shop for products from multiple brands on a marketplace with a single checkout.10Fast,flexible checkout options boost brand valueTo carry personalized experiences across the finish line,companies must also make it easy for shoppers to pay when,where,and
41、how they want.Overall,consumers say faster checkout is one of the top factors that would improve the in-store shopping experience.Rather than working for free at self-checkout,theyre ready for checkout options that let them ring up their entire basket at once,pay with biometrics when possibleor simp
42、ly walk out the door with their purchases in hand.More than half(55%)say they would like more payment options,including digital wallets and peer-to-peer payment apps,with this figure rising to roughly two-thirds for Gen Zers(66%)and Millennials(65%).Nearly half(46%)of all consumers,and more than hal
43、f of Gen Zers(56%)and Millennials(57%),would like to pay in installations over time.As buy-now,pay-later services,such as Klarna and Affirm,become more commonplace,consumers increasingly expect brands and retailers to offer flexible payment options.By delivering these types of rewards and incentives
44、,brands can show customers theyre keeping their best interests at heart.11Curate holistic experiencesGive every employee the knowledge of your most experienced associate to provide a consistent,unified experience across all channels.Train a generative AI model on your products and services to help a
45、ssociates quickly solve customer problems and provide relevant recommendations online and in-store.Use generative AI for instant translationsand create prompts that can help associates understand past issues and solve future problems faster,regardless of the customer engagement channel.Decide what c
46、ustomer data is essential to personalize customer experiences.Work backward from the customer experience to determine what you need to know to make it more unifiedand let AI help you learn faster.Leverage the speed and scalability of generative AI to personalize services,interactions,and offerings,w
47、hile securing sensitive data each step of the way.Integrate data to better understand your customers.Break down functional silos to consolidate data from operations,marketing and sales,and customer service to create accurate customer profiles that let you deliver a seamless and relevant experience.E
48、nsure explainability and transparency to build security into digital products.Prioritize data policies and controls centered on security,privacy,governance,and compliance.Let customers know how you plan to use their data and ask for their permission before you collect it.Be open and transparent with
49、 your policies and procedures to build consumer trust in AI.Action guideGive your customers what they want every step of the way.Use AI to get a granular view of customer data,deliver targeted offers,and offer seamless customer service.Modernize your technology architecture to connect your data and
50、create more value from industry partnerships.Build trust through transparency.1112Case studyBoots UK boosts basket size with a streamlined customer experience3 You cant succeed in the future with technology built for the past.Thats why Boots UK is focused on making it faster and easier for its custo
51、mers to shop online.To keep up with consumer demands for a more connected shopping experience,IBM and Boots have worked together using the Red Hat OpenShift container platform to build,test,and upgrade the retailers digital environment.One of the teams biggest challenges has been modernizing Boots l
52、egacy e-commerce site,which was too slow to handle increased customer traffic.But when the new website was launched,it handled a tidal wave of sales without a hitchand drove an average basket size that far exceeded anything the team had forecasted.Boots is now measuring significant growth rates foll
53、owing its digital transformation:Revenue is up more than 54%annually,and up more than 115%over two years.The companys customer base has grown by more than 45%,and orders increased by more than 42%annually.Conversion rates are up by more than 16%annually and 43%over two years.Average order value incr
54、eased by more than 8%annually and by more than 13%over two years.“IBM has not only set us up with a new modernized infrastructure and tools,but also an environment that allows us to build on continuously.It isnt a one-hit wonder and were done;its a continuation,a real explosion of how a partnership
55、can work.”Richard CorbridgeCIO,Boots UK1213As environmental issues continue to intensify,consumers are looking for information that will allow them to make more responsible choices.And they want hard data,not vague PR statements.AI and other new technologies can help companies give customers the int
56、el they craveas long as theyre built on a foundation of trust,transparency,and accountability.Build trust by aligning with consumer valuesIn our 2022 and 2024 surveys,roughly two-thirds of consumers said trust is important when choosing a brandand purpose-driven consumers remain the largest market s
57、egment(45%).4 These consumers seek products and brands that align with their values and provide health and wellness benefits.They care deeply about environmental sustainability and are willing to change their shopping habits to reduce negative environmental impact.But its not only purpose-driven con
58、sumers who are willing to make a change.Overall,78%of consumers say sustainability is important to them when choosing a brandand 61%say theyre willing to alter their habits to help reduce negative environmental impacts.More than two in three(67%)say at least half of the products they bought in their
59、 last purchase were sustainable.5 Chapter 2Brands must be sustainable and be able to prove it 14Influence purchases with sustainability dataHowever,only 41%of consumers say they have sufficient information to shop sustainably.6 Consumers want to see how companies measure up in the areas they most ca
60、re about,which include the use of safe and natural ingredients in products and the use of recycled materials in packaging.But consumer companies arent reporting enough of those metrics(see Figure 3).7FIGURE 3Consumers cant assess how companies perform on the sustainability metrics they care most abo
61、ut Top 3 metrics consumer product companies report on1Scope 1 GHG emissions2%of women in workforce3Scope 2 GHG emissionsExecutives agree that their organizations struggle to deliver relevant sustainability data.Almost three-quarters of consumer industry leaders say they need to recalibrate how they
62、measure and report their sustainability targets,but they dont have the capabilities to monitor and measure progress in real time.8 Overall,roughly three in four executives say manually processed data is holding back their sustainability reporting and performance efforts.9 Top 3 factors consumers car
63、e about1Safe ingredients or materials2Natural ingredients or materials3Use of recycled materials1415Operationalize sustainability to achieve business goalsLeaders recognize the value sustainability brings to their brands,with 77%agreeing that sustainability investments will accelerate business growt
64、h.In this vein,three out of five say they are purposefully aligning sustainability and operations goals to optimize investments and efforts in both areas.For example,nearly half(48%)of organizations are focused on redesigning their supply chain network to avoid future disruptions,mitigate risks,and
65、become more sustainable.10 To strengthen resilience and sustainability,organizations are also diversifying across suppliers,transportation,and logistics providers.But managing this expanding,more complex ecosystem requires greater visibility and collaboration.77%of executives agree that sustainabili
66、ty investments will accelerate business growth.Generative AI can address this issue by putting real-time data within reach.It can create end-to-end visibility across the enterpriseand the entire supply chainto offer nearly instant insights into both operational performance and environmental impacts.
67、Generative AI can also analyze historical sales data,market trends,and other factors to predict future demand more accurately,helping companies optimize production levels,reduce overstock,and minimize waste.Today,61%of executives say generative AI will be important for their sustainability agenda an
68、d 69%of organizations plan to increase their investment in generative AI for sustainability.11 As brands and retailers tap AI to provide transparent data,they will also be able to set more ambitiousand more crediblesustainability goals.They can let consumers measure the true impact of their purchase
69、s,as well.This intel helps consumers live their valuesand builds deeper connections with brands they know they can trust.16Achieve sustainability at scaleCommunicate product information clearly to empower sustainable shoppers.Give customers the info theyre looking for,not just whats easiest to provi
70、de.Explain where ingredients and materials come from and why theyre safe.Outline how packaging can be recycled.Build loyalty and drive sales by targeting marketing efforts to purpose-driven consumers.Mine customer data to determine who cares most about sustainable shopping.Go beyond segmentation to
71、deliver personalized sustainable product recommendationscomplete with proof points.Look at product innovation through a new lens to reduce environmental impact.Identify opportunities to swap in more sustainable materials and optimize the manufacturing process by asking generative AI to analyze compo
72、sitions and workflows.Create multiple versions based on specific parameters and use predictive modeling to anticipate how consumers will respond to different designs.Operationalize sustainability across the value chain.Map the data initiatives needed to connect your partner ecosystem and track susta
73、inability metrics holistically.Build and leverage a data-sharing platform to trace inventory and raw materials and enable more sustainable operations.Tap generative AI and hybrid cloud to identify opportunities to become more energy efficient and limit your carbon footprint.Action guideDrive growth
74、by tapping consumer demand for sustainable products.Connect supply chain data to reduce waste and gain efficiencies that reduce environmental impact.Use AI to operationalize sustainability across the value chainand deliver performance metrics customers can trust.1617Case studyBestseller India works
75、smarter to operate sustainablywhile staying en vogue12Bestseller India is a subsidiary of Bestseller,a worldwide retailer based in Denmark that is a leader in“fast fashion”a dynamic business model that moves trendy clothes from the runway to the rack in a matter of days or weeks.But this process can
76、 consume a massive amount of raw materials,water,and energy.If designs miss the mark with consumers,inventory gets discountedand some of it ends up in landfills.However,by more closely aligning design and production with consumer demand,the fashion industry can improve profits while also supporting
77、environmental sustainability.Thats why Bestseller India has tapped AI to help designers and buyers develop better forecasts and deliver the right product at the right time.Bestseller India set a very ambitious goal to develop a totally new,bespoke platform with AI capabilities to support preseason d
78、esign,planning,production,and forecasting.The project focused on creating intelligent workflows for key business processes,empowering employees to work smarter with access to real-time data and insights through AI-powered tools.“Now,designers will spend more time on higher value work instead of mana
79、ging files and data,”says Mukta Srivastava,Only Brand Product Manager at Bestseller India.After months of work and iteration,the Bestseller India-IBM Garage team brainstormed 61 unique concepts for the platformcalled Fabric.ai which became the first AI-powered tool for the Indian fashion industry.Wi
80、th Fabric.ai optimized for designers,Bestseller India has a digital platform to help inform more sustainable material choices up front in the value chain.Fabric.ai also provides product planners with data-driven perspectives on producing clothing with a leaner environmental footprint.“Fabric.ai will
81、 help us pore through information that is relevant and in a pictorial form,which is much easier for designers to consume than looking at spreadsheets,”says Srivastava.“It will become much easier for them to deliver a product that is closer to customer demand and make historical performance informati
82、on available at the click of a button.”171819Its happened to everyone.You look online to see if a local store has the product you want in stock,but when you arrive the shelf is empty.You ask an associate for help but its no use.Their information is no better than yours.This may seem like a symptom o
83、f the digital age.With so many people shopping online,retailers struggle to stock brick-and-mortar stores and keep inventory information up to date.But make no mistake:the store is still an essential part of the shopping journey.In fact,two-thirds of consumers say they shop for products in-personand
84、 73%say physical stores are part of their primary method for purchasing goods.Still,no one likes a wasted trip.Thats why more than two-thirds of all consumers now check product availability before going to the store at least sometimes,with that figure rising to nearly three-quarters for Gen Zers(73%
85、)and Millennials(74%).And while 72%of consumers say the products they want are generally in stock,companies that fail to hit the mark may pay a high price.Roughly one-third of consumers say better product availability is one of the top three reasons they would change brands.The key differentiators:r
86、eal-time offers,real-time supply chain intelligence,and real-time inventory information.Make real-time operations a reality Chapter 320Attract customers with real-time,contextual offers How many clicks does it take for customers to find what they want?Too many.Our survey shows that consumers want an
87、 easier way to quickly find the products theyre looking for when shopping online(see Figure 4).AI can help companies address this need by anticipating what people want and curating featured products appropriately.This gives companies the chance to introduce new products to the customers they were de
88、signed for,rather than relying on expensive displays to reach target customers in stores.This approach also promises to be more effective,as two-thirds of consumers learn about new products online.Two-thirds of consumers shop for products in-personand 73%say they rely on physical stores to purchase
89、goods.Companies can use AI to identify the customers most likely to be interested in new productsthen personalize messaging and offers to inspire them to buy.In this way,generative AI could finally make one-to-one marketing a reality,as almost two-thirds(64%)of CMOs expect to use generative AI for c
90、ontent personalization within the next two years.13 For their part,customers are open to getting more targeted messaging from brands.More than half(52%)of consumers say they would like to receive information,advertisements,and offerings from stores that are relevant to their specific interestswith t
91、his figure rising to 70%for tech enthusiasts.The key is sending information consumers find useful,not more junk they have to delete.By connecting each customer to the products theyre looking for and offering deals for items they want to buy,brands and retailers can show shoppers they understand them
92、 on an individual level.And with generative AI,that could actually be true.21Respond faster with real-time demand sensing and supply chain intelligenceAI can help companies better manage stock by using sales and market data to predict demand more accurately.But real-time data must be connected for i
93、t to be valuable.Brands and retailers need to help build an intelligent supply chain that lets all partners track productsand accurately estimate how long it will take to get them into a specific customers hands.Real-time supply chain intelligence can also help companies identify bottlenecks and str
94、eamline operations.In large geographic regions,such as the US,accurately predicting where and when to stock products in-store can often be more cost-effective than fulfilling digital orders from a centralized warehouse.Improve the shopping experience with real-time inventory availabilityTo keep cust
95、omers happy,companies must make it easier for them to find exactly what they want,whenever they want it.When shopping in-store,consumers say companies can most improve their experience by offering a greater variety of products relevant to their specific preferences(see Figure 4).Given that 65%of con
96、sumers use mobile apps to look for information while shopping in-storewith that figure rising to nearly 75%for Millennials and Gen Zerscompanies can tap connected data to help them find exactly what theyre looking for.Targeted product information,summarized reviews,location-based promotions,and augm
97、ented reality experiences can help guide customers to the products they want and suggest new items based on past purchases.FIGURE 4Consumers want to find the right products quickly,regardless of where they shopNote:Percentages reflect the top three choices of all respondents to the following questio
98、n:What are the top five things that would help improve your in-store and online experience?37%Greater variety of products available26%More information about products26%Faster checkout36%Easier way to quickly find the product I want33%More information about products33%Easier way to return productsIn-
99、storeOnline2122AI can help stores stock a greater variety of relevant products at the right locations by analyzing local customer preferences and behaviors.With generative AI,retailers can optimize inventory and dynamically adapt store layouts in response to shifting customer demands,leading to impr
100、oved navigation,product visibility,and stock management.When customers can reliably find the products they want to buywhether theyre shopping in-store or onlinetheyll keep coming back for more.But if their preferred brand doesnt serve up what theyre looking for quickly and easily,theyll go to the co
101、mpetition.The retailers and brands that offer the shortest,simplest path from search to purchase will be best positioned to build customer loyalty for the long-term.23Optimize operations and strengthen partnershipsObserve shifts in customer demand in real timethen react.Proactively collect customer
102、feedback through a variety of channels,including social media,online reviews,and surveys.Use generative AI to efficiently process and analyze vast stores of customer data instantly,then adjust product offerings,store layouts,and marketing strategies accordingly to reduce waste and localize fulfillme
103、nt.Make one-to-one marketing a reality to deepen customer relationships.Align IT and marketing priorities to stand up tech infrastructure that will let teams tap connected customer data.Use this data to differentiate your brand by offering customers timely and relevant deals and product recommendati
104、ons.Increase visibility into inventory and supply chain operations.Tap AI-powered management systems that facilitate seamless communication and data-sharing among supply chain partners.Build strong relationships with providers and partners to enhance transparency.Adopt advanced tracking technologies
105、 to let teams monitor product movement in real time.Enhance traditional dashboards with predictive analysis to inform better business decisions.Collaborate to create smarter operations across the value chain.Automate relentlessly with AI-enabled workflows to streamline production,gain the insights n
106、eeded to reduce waste,stay in compliance with regulatory requirements,and re-focus employees on higher-value analytical decisions and actions.Strengthen ecosystem partnerships with secure and trusted data.Embrace open standards and hybrid cloud to exchange data across the business and the ecosystem.
107、Be clear about what customer data is uniquely yours,understand what should stay proprietary,and establish governance practices that all partners agree on.Action guideBoth online and in-store,put the right products in front of the right people at the right time.Make it easier to share data and insigh
108、ts across the supply chain.Localize inventory and use AI to predict demand.2324Case studyMax Mara taps business intelligence to deliver products faster14 When customers shop online,they dont want to wait weeks for their order to arrive.But if a companys back-end operations arent firing on all cylind
109、ers,that can translate to delivery delays.To address persistent back-end bottlenecks,Italian fashion company Max Mara knew it needed to improve its order fulfillment and customer service processes.The company needed to not only identify quickly and accurately where the problems were,but also which f
110、ixes would yield the highest ROI.The digital ops team turned to IBMs Process Mining solution to connect the dots.The built-in simulation capabilities of the IBM Process Mining solution let process designers test the likely impact of changes on key metrics,such as lead time and staffing requirements.
111、The model also revealed whether a particular change might have unanticipated impacts.By using IBM technology to simulate changesincluding the automation of key process flow segmentsMax Mara saw up to a 90%decrease in customer service resolution times,along with a 46%reduction in the average cost per
112、 resolution.And the company expects process automation to become a central piece of its digital ops strategy going forward.“Making strategic investments in process automation will be critical to delivering the high quality digital experience customers have come to expect,”says Max Maras Head of Digi
113、tal Operations.“With IBM Process Mining,weve gained a powerful tool to identify where automation will have the highest payoff,both for our customers and for our business going forward.”2425Survey methodologyEvery two years the IBM Institute for Business Value surveys global consumers about their sho
114、pping habits and preferences.For our third bi-annual study,we surveyed 20,000 respondents in September and October of 2023.We asked them to describe their digital habits,their use of AI and generative AI,their expectations for brands,and their sentiments regarding sustainability.We analyzed the resp
115、onses by age group,income,and purchasing habits across product categories,including groceries,personal care and beauty,footwear and apparel,and home goods.For this study,we defined the age group for the generations as follows:Baby Boomers age 59-77,Gen Xers age 44-58,Millennials 29-43 and Gen Zers a
116、ge 18-28.Australia3%Belgium2%Brazil3%Canada5%China8%Denmark3%France5%Germany5%India6%Indonesia2%Ireland2%Italy3%Japan8%Malaysia2%Mexico3%Netherlands2%Saudi Arabia3%South Africa3%South Korea3%Spain3%Sweden3%Switzerland3%Thailand2%United Arab Emirates3%United Kingdom8%United States13%Country26Luq Niaz
117、iGlobal Managing Partner,IndustriesIBM Chttps:/ Dittmar Senior Partner,Industry LeaderRetail,DistributionIBM Chttps:/ HallerPartner,Consumer Center of Competency LeaderIBM ConsultingKarl.H authorsMahesh Dodani,PhDIndustry Chief EngineerIBM CheungGlobal Research Leader,Consumer Industry IBM Institute
118、 for Business V reportsRedesigning brand values:Purpose and profit converge in core operationsIBM Institute for Business Value.April 2023.https:/ibm.co/sustainable-operations-consumer-products Consumers want it all:Hybrid shopping,sustainability,and purpose-driven brands IBM Institute for Business V
119、alue.January 2022.https:/ibm.co/2022-consumer-study The ESG data conundrumIBM Institute for Business Value.April 2023.https:/ibm.co/esg-data-conundrum IBM Institute for Business ValueFor two decades,the IBM Institute for Business Value has served as the thought leadership think tank for IBM.What ins
120、pires us is producing research-backed,technology-informed strategic insights that help leaders make smarter business decisions.From our unique position at the intersection of business,technology,and society,we survey,interview,and engage with thousands of executives,consumers,and experts each year,s
121、ynthesizing their perspectives into credible,inspiring,and actionable insights.To stay connected and informed,sign up to receive IBVs email newsletter at can also find us on LinkedIn at https:/ibm.co/ibv-linkedin.The right partner for a changing worldAt IBM,we collaborate with our clients,bringing t
122、ogether business insight,advanced research,and technology to give them a distinct advantage in todays rapidly changing environment.About Research InsightsResearch Insights are fact-based strategic insights for business executives on critical public-and private-sector issues.They are based on finding
123、s from analysis of our own primary research studies.For more information,contact the IBM Institute for Business Value at .281 Haller,Karl,Mary Wallace,Jane Cheung,and Sachin Gupta.Consumers want it all:Hybrid shopping,sustainability,and purpose-driven brands.IBM Institute for Business Value.January
124、2022.https:/ibm.co/2022-consumer-study2 The CEOs guide to generative AI:Customer service.The IBM Institute for Business Value.August 2023.https:/ibm.co/ceo-generative-ai-customer-service 3 Retailer leans into Digital Commerce and continues 173 years of innovation.IBM case study.Accessed December 5,2
125、023.https:/ 4 Haller,Karl,Mary Wallace,Jane Cheung,and Sachin Gupta.Consumers want it all:Hybrid shopping,sustainability,and purpose-driven brands.IBM Institute for Business Value.January 2022.https:/ibm.co/2022-consumer-study 5 Biswas,Arun,Elisabeth Goos,and Jacob Dencik.The ESG data conundrum.IBM
126、Institute for Business Value.April 2023.https:/ibm.co/esg-data-conundrum 6 Ibid.7 Ibid.Notes and sources 8 Chambers,Jon,Sachin Gupta,Ursula Heng,Mahesh Dodani,and Jane Cheung.Redesigning brand values:Purpose and profit converge in core operations.IBM Institute for Business Value.April 2023.https:/ib
127、m.co/sustainable-operations-consumer-products 9 Biswas,Arun,Elisabeth Goos,and Jacob Dencik.The ESG data conundrum.IBM Institute for Business Value.April 2023.https:/ibm.co/esg-data-conundrum10 Chambers,Jon,Sachin Gupta,Ursula Heng,Mahesh Dodani,and Jane Cheung.Redesigning brand values:Purpose and p
128、rofit converge in core operations.IBM Institute for Business Value.April 2023.https:/ibm.co/sustainable-operations-consumer-products11 The CEOs guide to generative AI:Sustainability.The IBM Institute for Business Value.November 2023.https:/ibm.co/ceo-generative-ai-sustainability12 In India,fashionin
129、g the future with AI.IBM case study.Accessed December 5,2023.https:/ 13 The CEOs guide to generative AI:Marketing.The IBM Institute for Business Value.December 2023.https:/ibm.co/ceo-generative-ai-marketing14 Redesigning Order-to-Cash for a better buying experience.IBM case study.Accessed December 5
130、,2023.https:/ Copyright IBM Corporation 2024IBM Corporation New Orchard Road Armonk,NY 10504Produced in the United States of America|January 2024IBM,the IBM logo, and Watson are trademarks of International Business Machines Corp.,registered in many jurisdictions worldwide.Other product and service n
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