Page - 17 - in Digital Entrepreneurship - Impact on Business and Society

14,000 stores to a common platform and collect data relating to customers’ pizza-purchasing habits. As a result, the company can predict customer behaviour by developing a 360º view of the customer that offers to: • Bring the best value and experience to the customer; • Use a Snapchat channel for offering discount codes; and • OfferAmericancustomers thepossibilityoforderingbysendingapizzaemoji to @Domino’s on Twitter. AdoptingaDEMandusing theadvantagesof technology innovationshashelped Domino’s to drive a 2000% increase in stock price over the past 10 years. Addi- tionally, digital ordering, data insights and better in-store experience have driven more sales. Domino’s has seen double-digit growth for several consecutive quar- ters.Byharnessing technology and aDEM,Domino’s has embedded itself into the lives of its customers by delivering a better experience. The firm also took all the steps that we have described in this chapter, from being data-driven to being platform-centric and cloud-enabled. 4.2 Tesco: Building theVirtual Store forNon-ordinary Customers Tesco,aBritishmultinationalcompanythatsellsgroceriesandgeneralmerchandise, is thethirdbiggestUKretailerintermsofgrossrevenue.Itcurrentlyoperates6800stores worldwideacross several sectors.Tescooperates supermarkets, hypermarkets, super- stores and convenience stores. The company earned a net income of £1674million (Tesco 2019) and has 450,000 employeesworldwide. Tescowanted to infiltrate the SouthKoreanmarket,amarketwhereconsumershavenotimetodotraditionalgrocery shopping.ThismeantthatTescohadtocomeupwithnewideasandtechniquestomake its business profitable in the newmarket. Fortunately, digitalisation had opened a windowofopportunityofwhichagrocerwithaDEMcould takeadvantage. Tescodiscovered thatSouthKoreansgenerallyusea largeamountof technology as part of their daily routine, have longworking hours andhave a longer commute thanmost Europeans. Therefore, Tesco created a ‘virtual store’ called HomePlus, demonstrating its inclination and ability to discover, evaluate and exploit oppor- tunities emerging from digital technologies. HomePlus stores are set up in public spaces like subways and bus stops. Consumers download the HomePlus app on their smartphones.Theyuse their smartphones to scan thecodesat thevirtual stores and purchase their orders online. The products can be stored in a virtual shopping basket and paid for online aswell. Customers can also schedule a home delivery. Thismeansabusypersoncanbuy theirgroceries inamoreconvenientmanner.The virtual store has been a considerable success in SouthKorea. The app has already been downloaded 900,000 times, and online sales have risen by 130% since its introduction.Thereare severalHomePlusvirtual stores acrossSouthKorea, and the Developing aDigital EntrepreneurialMindset for Data-Driven… 17