ITC has undertaken an extensive strategy reset: Sanjiv Puri
The company is pursuing an accelerated journey to build a dynamic ‘FutureTech’ enterprise by investing in cutting-edge digital technologies, said Chairman Puri at the recently held AGM
ITC recently held its 110th Annual General Meeting. At the meeting, Chairman Sanjiv Puri talked about ‘ITC Next’, the company’s future growth path.
Sharing the broad contours of the strategy, Puri stated, “An extensive strategy reset has been undertaken to architect the structural drivers that will power ITC’s next horizon of growth and ensure that the enterprise remains future-oriented, consumer-centric and nimble.”
“As a core element of the ITC Next strategy, your company will continue to explore opportunities to craft disruptive business models anchored at the intersection of Digital and Sustainability, the two defining trends in the ‘new normal’, leveraging its institutional strengths.
Talking about the highlights of the strategy, Puri said, “At ITC, we recognise that enterprises must possess distinctive digital capabilities to win the future. Your company is therefore pursuing an accelerated journey to build a dynamic ‘FutureTech’ enterprise by investing in cutting-edge digital technologies to shape a new paradigm of competitiveness, create innovative business models and tap newer opportunities. Your company’s digital transformation is being built on a foundation of an agile ‘Digital First’ culture. New frontiers are being explored across the entire value chain ecosystem to add significant impetus to digital marketing, digital commerce, digital products and digital operations,” he said.
“Today’s new age consumers are digital natives with extensive engagement in social and e-commerce platforms. Recognising the need to engage deeply with consumers, your company established state-of-the-art Marketing Command Centres called ‘Sixth Sense’ in Bengaluru and Kolkata. The Centre plays a critical role in identifying emerging trends in real-time, enabling your company to speedily launch differentiated products as also creatively engage with consumers. As a vibrant content factory, the centre has generated more than 2,000 ‘moment marketing’ ideas, leading to campaigns with over 1 billion impressions.”
“Your company fast-tracked its journey in e-commerce, anticipating the surge in demand for ‘contactless shopping’ and home delivery. Sales through e-commerce channels have more than doubled during the year. ITC also strengthened its direct to consumer platform, ‘ITC e-Store’, reaching consumers in 11 metros. The ITC e-Store, currently comprising 800 products across 45+ categories, provides a single platform to showcase the wide array of ITC’s product portfolio, besides enabling micro trendspotting and gaining valuable consumer insights. Your Company is also progressively introducing more ‘digital first’ brands to leverage the growing e-commerce space.”
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