Learn more about McKinsey’sGrowth, Marketing & SalesPractice andMcKinsey Digital. How can e-commerce drive value for consumer-packaged-goods manufacturers? Consumer packaged goods are items used on a regular basis by most people, such as food, clothes, cleaning products, and toiletries. As we’...
In both sectors, the goal for most businesses is to enable customers to purchase anything they want, at any time, from anywhere, using any digital device. Put simply, big data is larger, more complex data sets, especially from new data sources. These data sets are so voluminous that ...
Because digital goods are sold in such a versatile and transferable format, producers and distributors have to make sure that they are packaged in technologies that are relatively immune to piracy or illegal sharing. For example, see the thorny emergence of digital rights management or DRM wrapping...
Who are the major participants in the global currency markets? Anyone who needs to convert their money from one currency to another is a participant in the global foreign exchange market. For instance, if you’re in the U.S. and you purchase chocolates from Spain, where goods are priced ...
Digital products can be created once and sold repeatedly. Learn about some of the most popular digital products and how to sell your own.
Hedge funds are riskier but can generate higher returns, and most of them are only available to accredited investors. Cryptocurrencies These digital currencies operate on decentralizedblockchain systemsand have sharp volatility. Some people exchange cryptocurrencies for goods and services.Bitcoin (BTC)and...
The more generally applicable are the technologies, the greater the economic The New (Digital) Economy In discussing the New (Digital) Economy, it is necessary to distinguish between information and knowledge. Information may be defined as a collection of data, whereas knowledge can be defined as...
The digital economy is set to carry more weight in the future, as the “Internet of Things”,artificial intelligence(AI), virtual reality,blockchain, self-driving cars, and other technology develop. Some advantages it offers are: Information.Consumers have more information — not just from manufa...
What is in the CPI ‘basket’? The goods and services that the CPI measures are often referred to collectively as the ‘shopping basket’. This changes annually to reflect consumers’ behaviour and spending patterns. There are more than 700 goods and services in the basket. Items include: fur...
There are four main types of economic utility. The first is form utility or the amount of value that someone receives from goods or services they need. Time utility has to do with the amount of time it takes for companies to respond to the needs and demands of their consumer bases. ...