How customers perceive value in the digital world changes continuously. Businesses that understand more about their customer needs and wants can redefine which products and services to offer and how much they should cost. In addition, each customer’s perception of value may be different. Digital giants like Google, Amazon, Apple, Netflix continuously view their products/services through their customer’s eyes, via interactions across digital channels, comments, good or bad recommendations. With AI and machine learning they can even predict what future demands and value will be for a given product or a service, creating a competitive advantage. To compete in this new customer-defined world, brick-and-mortar incumbents must rethink the entire value chain and redefine their business models.