Why the customer experience is more important than ever in the digital economy

The digital economy has changed the fundamental rules of doing business and what it means to compete. And consumers are winning.

As digital competition delivers better, faster, cheaper products and services from on-demand drivers, movies and meal delivery to a world of choice with online shopping, expectations continue to accelerate.

It may feel that brands such as Amazon, Uber, Netflix and Airbnb have raised the bar to impossibly high standards. Yet consumers have become used to that experience, and if your service doesn’t meet those expectations, they’ll go elsewhere - even if you’re selling insurance, electricity or a personal loan.

“Amazon and Alibaba are raising the bar when it comes to giving consumers the best retail experience possible, and Australian retail is catching up,” says Ben Franzi, General Manager Parcel & Express Services, Product & Innovation. “But we are innovating in product personalisation and payment platforms. For example, Afterpay now accounts for over 8 per cent of online retail