Thought provoking piece on redefining “work” as we enter what is being called the 4th Industrial Revolution. #AI #economy #jobs #trends

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This is a great thought provoking piece on rethinking what “work” is as we enter what is being called the Fourth Industrial Revolution, where we are approaching a point period where you will theoretically be able to do everything with nothing [Ephemeralization].

Read More: Fourth Industrial Revolution

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Mobile Holiday Sales Reach $13 Billion; 64% Of Retailers To Increase Smartphone Investments #Retail #Trend

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The impact of mobile on this past holiday shopping season was projected to be huge, and huge it was. With final tallies coming in, spending via smartphone for online purchases hit $13 billion, based on a new study. That’s an increase of 59% from a year ago, according to comScore, and that’s just for the last two months of last year.

Read More: Mobile Holiday Sales Reach $13 Billion; 64% Of Retailers To Increase Smartphone Investments 01/13/2016

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Internet of Things Enhances the Retail Industry #Retail #IoT #Podcast

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Print

More and more retailers are adopting the Internet of Things. Many of them believe IoT will be their most important technological initiative of the decade. Now, new technologies have changed the way shoppers interact with retailers, and the shopping experience can be the retailer’s strategic differentiator.

With the Internet of Things, retailers can leverage intelligence to make strategic, informed business decisions that improve customer loyalty and associate effectiveness while creating exciting experiences for their shoppers.

Outlook Series’ Michael Lippis interviewed me to gain Zebra Technologies‘ perspective on how the Internet of Things is changing retail.

Oringial post: http://www.outlookseries.com/vendor_perspective/Zebra_Technologies_IoT_Retail.htm

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Based on how NRF categorized vendors, looks like the top 3 areas will be IT, Digital and Mobile Tech, and Analytics #Retail #Trends #NRF16

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#NRF16 Vendor Coverage

Based on how NRF categorized 1,500+ vendors for 2016’s Big Show, looks like the Top 3 areas will be, as follows:

  1. IT – 30%
  2. Digital and Mobile Tech – 15%
  3. Analytics – 13%

Data was gathered from the “NRF-National Retail Federation” app.

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Owned by @Amazon, @Twitch is enormous with over 100 million visitors per month. #Retail #Distribution #Innovation

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In 2013, worldwide video game industry revenue was $70.4 billion, compared to box office revenues of $35.9 billion. I dare you to find a key distribution channel Amazon is not participating in.

Read More: How a video game becomes a sport

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Apply Design Thinking in Your Work. #Retail #Innovation #DesignThinking

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Quick thoughts…

steps-730x345I’ve started thinking more and more about the application of “Design Thinking” to develop retail customer experiences. So what’s Design Thinking. Introduced at Stanford’s d.school, Design Thinking is an action bias approach to driving innovation. Given the transformative times retail is in, new approaches to unearthing meaningful value for customers is paramount for every retailer. Design Thinking gives you an approach to getting to that meaningful value. It starts with empathizing with the user, truly understand not only the user interactions but also what they are thinking, seeking an emotional place for the user. Then define the deeply your understanding of the problem. Note any and all observations, both those explicitly stated needs and those now understood insights. Now brainstorm solutions, pushing for quantity over quality at this time. This ideation should proceed without shame, no idea is a bad idea at this stage. Logical group the ideas, and then go through and select 2 to 5 ideas to prototype. Then test with your users, learning fast not being wedded to anyone idea. During this process, never forget the empathy you gained in the beginning, it should guide you through the hole process…What’s going to delight the customer.

 

Here is the d.school’s Design Thinking crash course: http://dschool.stanford.edu/dgift/ Enjoy!

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A different approach to developing engaging shopper experiences. #Retail #Leadership

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Retailers are too caught up with trying to implement services or software to achieve a particular omnichannel capability. None of it is differentiating, but more status-quo in this new retailing world. I believe that retailers should look at the creation of experiences the same way that consumer tech companies develop software and hardware…with an eye on consumer needs and with a product management hat on. I presented this in 2013 at the annual meeting of The International Association of Clothing Design Executives.

 

 

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@Profgalloway of @L2Digital Delivers a Solid Holiday 2015 Recap. #retail #ecommerce #insights

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Key Wows:

  • Amazon captured $0.51 of every additional dollar we spent during holiday 2015.
  • Amazon is now responsible for 23% of retail growth, and 51% of ecommerce growth.
  • 50% of U.S. households will have a Amazon Prime membership by 2020.
  • High-end malls are winning.
  • An Apple store increases mall revenue per sq ft by 13%.
  • Macy will close 40 mall based stores in 2016.
  • Social media celebrities are earning upwards of $300k per post.
  • Internet traffic drop with the release of the latest installment of Star Wars The Force Awakens, with Germany dropping the most, -12%.
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Do You Really Know Your Customer, Today’s Shopper? Really? Retail needs a Real Customer Data Exchange… #Retail #Prediction #leadership

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ibm data

Undoubtedly retailers have collected troves of transaction data on their customers. With advancements in analytics, they are  now desperately trying to make sense of it all;  over 50% have not been able to leverage their loyalty data in meaningful ways.

I believe that the data (corpus) retailers have on their customers is unfortunately not comprehensive enough, to reliably activate today’s shopper. That is, I do not think that retailers have a wide enough view of today’s shopper, and this leaves them exposed to those who do (e.g. Amazon, Facebook, Google, Apple). I would argue that retailers need to federate their customer data, and create a Real Customer Data Exchange (RCDE). I understand there will be PII [Personally Identifiable Information]concerns to work through, but going it alone doesn’t seem like the right solution for truly understanding today’s shopper. On this vein, I do believe that generally we will see a lot of consolidation in the retail industry in the months and years to come, but will be posting on that later.

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I could not agree more…Every Sign Is Saying Retailers Must Restructure In 2016 #Retail #leadership #trends via @Forbes

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The 2015 holiday season has made the major shifts in consumer buying patterns very clear. The rise of Internet shopping and growth of off-price retailing are mega-trends reshaping the retail industry. In 2016, retailers who want to survive will have to respond by restructuring.  Internet sales are booming at the […]

Source: Every Sign Is Saying Retailers Must Restructure In 2016 – Forbes

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