Understanding how customers digitally engage while shopping on line helps CMOs quantify the effect of these interactions on in-store purchase behavior. A recent Deloitte Digital study concluded the ongoing growth of digital influence—the degree to which consumer use of digital and mobile technologies during the shopping journey impacts in-store sales—extended the gap between consumers’ digital expectations and retailers’ ability to deliver.
“Innovation is the central issue in economic prosperity,” says Michael Porter of Harvard Business School. Many companies use an innovation process that relies on ideation and brainstorming to generate creative, high-level concepts that are tested through market research. But even the most creative new products and services may be unsuccessful if the company uses an approach that lacks rigor of process, customer perspective, and scientific experimentation.