How to Achieve Digital Maturity in Driving Successful Digital Transformation

You've got the digital tools and budget to push your marketing campaigns, but is your company well-equipped and digitally-savvy enough to adapt and improve their digital skills to create a connection with the modern customers? We can say that if you're not confident in that aspect, you're probably struggling to stay ahead of the competition. In fact, only 36% of Australian companies are reaching their "digitally mature" goals.

In a post-event discussion with Sush Padhye, National Digital Marketing & Loyalty Manager from TotalTools, and Marta Skrabacz, Digital & eCommerce Lead from Godiva ANZ, we dive into sizzling questions everyone wants to know, such as profit & loss profitability challenges within the online space, and Australia's initiatives to implement customer data protection laws!

Check out the hot topics from their panel discussion "Digital Maturity – How can you accelerate your digital transformation journey to best connect with the digitally savvy customer and remain competitive?"

P&L profitability challenges in the online space

    The eCommerce space still possesses physical challenges such as the cost of warehousing, delivery, and returns. Covid was a wonderful opportunity for eCommerce as that's when operational efficiency implementation growth was at its highest, particularly in logistics and order fulfillment. As it's the largest cost area for most eCommerce businesses, Marta suggests looking at the spend percentage, namely parcel cost, first order delivery, rates, and volumes. You'll be able to increase its cost efficiency while supporting scaling as sales increases.

How can you generate more operating income and protect the brand from deals and discounts given the current market trend and peak seasons around the corner?

    Companies need to look at their inventory and supply chain to understand sell-through and days of inventory remaining against its sales goals. This will largely determine whether there is an urgency to deal and discount, or whether the goals are purely sales driven at a channel level. It can be followed by assessing the preservation margin.

Sush Payhye, TotalTools                Marta Skrabacz, Godiva ANZ