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BCG Bytes

Welcome to BCG Bytes, a collection of BCG’s current thinking about all things digital by our experts in Australia and New Zealand.

According to our recent Consumer Sentiment Snapshot #2 – Cautious Optimism, COVID-19 has accelerated digital adoption and most consumers see these changes in their lives as likely to stay permanently.

The role of the digital economy has been growing since before the COVID-19 crisis unravelled. However, during COVID-19, digital penetration has increased even further, signalling that digital is the new established way of buying products and services, and it’s here to stay.

Moving online has triggered both challenges and opportunities for industry leaders across the board and organisations must be prepared to respond to this shift. How can companies ensure that their business model will be resilient and well positioned for the rebound?

This week, we hear from BCG ANZ Managing Director and Partner, Anita Oh on how the COVID-19 crisis has forced utility companies to shift their business model to serve their customers digitally.

It's a box of surprises. Trust me.

COVID-19 has been the catalyst for the shift of people purchasing online and embracing the change. This is also true for utility consumers, with the industry showing 11% growth in new digital users over the last month; the most substantial monthly increase on record. This article explores four ways that utility companies can use technology to adapt to digitally savvy-consumers and build trust by building digital in the utilities sector.

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Australian Consumer Sentiment Snapshot #2 - Cautious Optimism

Compared to the rest of the world, Australian consumers are the most pessimistic about resuming a new reality. Most believe that not only are their lives different today than pre-Covid-19, but also that this change is likely to be permanent. So will these new digital patterns persist? Our research results suggest that 47% of first-time digital buyers will buy more online post Covid-19 than they do currently, and 87% of pre-existing digital buyers will continue to buy the same or more online post Covid-19.

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