In conclusion…
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Did Amazon just patent tech that could end showrooming in its stores?
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"I would be shocked if Amazon implemented this tech as described. I do think they would implement the tech to monitor in-store web traffic to gain insights to make the overall shopping experience better. I would recommend other retailers do the same; many are still struggling to make sense of the data they have." ~ Shawn Harris
Who Am I?
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"I am who I am today, because of yesterday. I look forward to seeing who I will be tomorrow, because of today." ~ Shawn Harris
The Influence Of Our Humanity…
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"As we work to optimize business by reducing the influence of our humanity, I believe we will soon realize that our humanity is our greatest asset." ~Shawn Harris
“Jeff, what does Day 2 look like?”
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"It's all about culture, culture, culture." ~Shawn
Will a new TJX concept put more hurt on department stores?
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"The key to TJX’s success is their merchants. They are constantly on the hunt for high-value, on-trend, opportunistic buys. This creates the treasure hunt, and a compelling reason to shop … frequently. I think TJX will launch a full assortment off-price furniture chain, instead of it just being a department in HomeGoods. It’s not department stores that should be worried, it’s full-priced traditional furniture stores who should keep their eyes wide open." ~Shawn Harris
Do consumers want to follow grocers on social media?
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"I think that the key reason people follow retailers and brands on social media is for reasons of lifestyle projection. Either the consumer is living, or wants to live, the brands ideals. For grocers, this would be things like healthy living and sustainability. With the brand ideals as the backdrop, consumers will become sticky if the social feed is educational, informative, entertaining, will save them time and/or money or is otherwise a utility — very much similarly to why consumers want and keep a mobile app installed." ~ Shawn Harris
Will women buy lingerie from Amazon?
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"If Amazon can nail comfort (size, style, support), as price and convenience will be a given, they could absolutely make a dent in this space. I think that department and specialty store chains should take this seriously. Here comes a lingerie category price war…" ~ Shawn Harris
What is Supply Chain Management? Quick Definitions…
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While Supply Chain Management is a new term (first coined in 1982 by Keith Oliver from Booz Allen Hamilton in an interview with the Financial Times), the concepts are ancient and date back to ancient Rome. The term “logistics” has its roots in the Roman military. Additional definitions:
Should Zappos take steps into the hospitality world?
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"When people talk about Zappos, it’s not just about the great pair of shoes they scored, but the awesome customer service they received. It truly has become a tangible asset that is synonymous with the Zappos brand. In extending the brand to hotels and beyond, the customer satisfaction bar will be set high. Execution will be key to protecting the brand’s equity. Also I could see some Amazon (the parent company) products and services being a part of this." ~Shawn Harris
Saks, Ralph Lauren lure customers with upscale services.
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"As discrete service offerings, both Ralph Lauren’s “taxi” and Saks’ merchandise delivery service would be of value to shoppers, as they should help to save a shopper’s time or otherwise bail them out in a time of need. However, they must be a part of a coherent strategy of driving footfalls that includes digital engagement. These services should feel like a natural fit to the overall experience, as opposed to feeling like a disjointed one-off." ~ Shawn Harris
8 Experts Predict the 2016 Holiday Shopping Season #Retail #Holiday2016
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Lean thinking
Bed Bath & Beyond’s Membership Model #retail #marketing #membership
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Is this Everyday Low Price (EDLP) spun as a membership program? Will the elimination 0f the 20% Coupon's "scarcity," remove BBBY's greatest customer activation trigger, or will the $29 annual fee create the "shop here first" behavior that Amazon enjoys with its Prime Members? The Amazon Prime comparisons always gets me as none of these membership programs come with all of the other value-adds that Prime does, (i.e.video streaming, cheap unlimited music). To truly compete, I think more complementary partnerships are required to enhance the value of these initiatives (e.g. discounted Uber/Lyft rides, Care.com services, etc [requested through the BBBY app] ), plus the extension of this membership's benefits to the other BBBY subsidiaries. All in all, I do like BBBY's willingness to test bold initiatives like this.
AmazonFresh lowers annual subscription via a $15 monthly rate. #Retail #Grocery
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"I recall one of my first lessons in grad school, “cash flow is king.” I think that a lot of people feel the same about how they manage their home finances. Though there is only a $20 annual net savings, I think that the $14.99 per month fee will significantly lower the barrier to adoption for many Prime members. I think that this pricing move, and the recently announced push for both AmazonFresh pickup locations and perishables-focused convenience stores will position them to continue to grow their online grocery business and grow share.
Will customers give Amazon the keys to their smart homes?
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"I completely believe that this is a concept that could see wide adoption. Airbnb has helped in resetting the idea of what personal space means and blockchain technology will allow for secure, immutable, one-time access to home IoT locks. Delivery person tracking and home tracking (cameras, mobile device and presence sensors) will play an over-the-top role for auditing behavior. Insurance will cover the rest." ~ Shawn Harris
Can Snapchat Spectacles avoid the missteps of Google Glass?
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"Cost and styling already set this apart from Google Glass. I am bullish on this concept, as it removes friction (the mobile phone) from capturing moments quickly and as you truly see them." ~ Shawn Harris
Will click and collect conversion transform IKEA’s business? #retail
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"I think that this offering coupled with the work they are doing in augmented reality is a winning solution." ~ Shawn Harris
