WHY IT MATTERS: Digital Transformation
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6 foundational shifts to build a #data #architecture that drives innovation by @McKinsey is a great summary of how it should be done

6 foundational shifts to build a #data #architecture that drives innovation by @McKinsey is a great summary of how it should be done | WHY IT MATTERS: Digital Transformation | Scoop.it

An agile approach to overhauling data architecture improves speed, flexibility, and innovation.

Farid Mheir's insight:

WHY IT MATTERS: I agree with those 6 recommendations.

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Harnessing the power of external #data by @McKinsey is good reminder that it is easier than ever to leverage data from outside - like weather, demographics, ... to enhance your own data & analytics

Harnessing the power of external #data by @McKinsey is good reminder that it is easier than ever to leverage data from outside - like weather, demographics, ... to enhance your own data & analytics | WHY IT MATTERS: Digital Transformation | Scoop.it

Few organizations take full advantage of data generated outside their walls. A well-structured plan for using external data can provide a competitive edge.

Farid Mheir's insight:

WHY IT MATTERS: after you're done enabling analysis of your internal data - from eCommerce, ERP, etc. - you should look at external data - weather, demographics, etc. - to provide context and generate useful insights.

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2021 Holiday Shopping Forecast from Adobe Analytics is full of stats about the holiday trends - high demand, high prices, inventory shortage and curb-side pickups are the highlights #eCommerce #trends

2021 Holiday Shopping Forecast from Adobe Analytics is full of stats about the holiday trends - high demand, high prices, inventory shortage and curb-side pickups are the highlights #eCommerce #trends | WHY IT MATTERS: Digital Transformation | Scoop.it

This year, customers will do a lot more than window shop, so we’re gathering the data and statistics and putting the insights on display. Download the Holiday Forecast 2021 report to understand when, how, and what consumers plan to spend money on this season, and use our findings to create shopping experiences your customers want. We know you’re excited. So come, take a close-up look, but hands off the glass, please.

Farid Mheir's insight:

WHY IT MATTERS: 2021 eCommerce shopping holiday continues to move from in-store to on-line shopping with covid-related impacts still apparent: high demand, high prices, inventory shortage and BOPIS curb-side pickups are to be expected.

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E-commerce conversion rates benchmarks 2022 - How do yours compare?

E-commerce conversion rates benchmarks 2022 - How do yours compare? | WHY IT MATTERS: Digital Transformation | Scoop.it

E-commerce conversion rate and lead generation stats compilation desktop and mobile devices benchmarking averages across different industries

Farid Mheir's insight:

WHY IT MATTERS: an update with the latest data about conversion rates in eCommerce. If anything this shows how wide the variations can be.

DENICE J's curator insight, December 9, 2021 1:17 AM
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Info people willing to share depends on products you sell via @Activate #ecommerce #marketplace #retail

Info people willing to share depends on products you sell via @Activate #ecommerce #marketplace #retail | WHY IT MATTERS: Digital Transformation | Scoop.it

Consumers are more willing to share personal data in exchange for better item recommendations when shopping within product categories that feature more complex and customizable items

Farid Mheir's insight:

WHY IT MATTERS: seems you can get away asking for very personal info if it is perceived as useful in the shopping process.

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80% of US households have on avg 1.7 #membership programs and 64% of HH have Amazon PRIME via @Activate

80% of US households have on avg 1.7 #membership programs and 64% of HH have Amazon PRIME via @Activate | WHY IT MATTERS: Digital Transformation | Scoop.it

The overwhelming majority of households plan to keep paying for their shopping program memberships over the next year; many of the programs will retain 85% or more of their memberships

Farid Mheir's insight:

WHY IT MATTERS: membership programs are popular and this report provides a number of good reference numbers.

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The #omnichannel age is here and it's expensive - you need strong margins to survive in this #ecommerce + physical store world

The #omnichannel age is here and it's expensive - you need strong margins to survive in this #ecommerce + physical store world | WHY IT MATTERS: Digital Transformation | Scoop.it

"Everything that should be happening over a five-, 10-year period is happening now," said Pete Madden, a director with AlixPartners. "It's a rethink, it's expensive, and it's on top of expense that has already happened."

Farid Mheir's insight:

WHY IT MATTERS: everything in this article rings true, from the high cost of omnichannel and especially returns, to the opportunities that remain of having a physical store. The conclusion: you have to change processes, resource allocation and technology to make omnichannel work.

Jules Johnson's curator insight, September 7, 2021 2:22 AM

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the impact of #covid #coronavirus on #eCommerce: Top 100 Fastest Growing & Declining Categories in E-commerce #noSurprise via @umlaut21 @ChristianDion

the impact of #covid #coronavirus on #eCommerce: Top 100 Fastest Growing & Declining Categories in E-commerce #noSurprise via @umlaut21 @ChristianDion | WHY IT MATTERS: Digital Transformation | Scoop.it

A recap of the Top 100 fastest growing & declining categories in March 2020 vs. March 2019

Farid Mheir's insight:

WHY IT MATTERS: eCommerce is one of the big winner of the c19 crisis. Data is starting to pour in...

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State of #Retail 2019 by @Comscore highlights: #online = 24% of total retail sales slowing down, #mobile shopping is winner, #voice & #AR not yet part of mainstream, start holiday early this year

State of #Retail 2019 by @Comscore highlights: #online = 24% of total retail sales slowing down, #mobile shopping is winner, #voice & #AR not yet part of mainstream, start holiday early this year | WHY IT MATTERS: Digital Transformation | Scoop.it
2019 is shaping up to be a landmark year for the retail and ecommerce industries. Online spending continues to grow, retailers are experimenting with new voice technology, and an abbreviated holiday shopping season looms on the horizon. We invite you to join us on July 17, 2019 for our annua
Farid Mheir's insight:

WHY IT MATTERS: eCommerce now accounts for 1 in 4 total sales so everyone should use this as a benchmark ie. if you are not selling 25% online then you may be behind the ball (depends on your industry but a good benchmark). Also, if your site is not mobile focussed, you have to take steps to change that.

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"Smart Phygital" the #buzzword at #PRW18 that bundles #digitalTransformation concepts and a new reality: there is no difference between #ecommerce and physical store commerce: it is just commerce #...

"Smart Phygital" the #buzzword at #PRW18 that bundles #digitalTransformation concepts and a new reality: there is no difference between #ecommerce and physical store commerce: it is just commerce #... | WHY IT MATTERS: Digital Transformation | Scoop.it

Une enquête menée en 2018 par 421 Research pour Ayden auprès de 5 033 Européens (Royaume-Uni, Allemagne, Espagne, France et Pays nordiques), rend compte de l'importance de la vision "Smart Phygital" pour les acteurs de la distribution. Comme le montre notre graphique, les attentes des consommateurs vis-à-vis de l'expérience d'achat se concentrent autour de 3 axes : la personnalisation, la stratégie omnicanale et l'innovation digitale.

Farid Mheir's insight:

WHY IT MATTERS: too many buzzwords, too many concepts are increasing the confusion of retailers and merchants. This year at the Paris Retail Week it was "smart phygital" a concept that means nothing more than the fact that eCommerce is morphing into retail commerce, driving changes in stores to go from mini-warehouses to an experience destinations where consumers will get product showrooms, advice and support. And all of that supported by digital technology and requiring huge digital transformation of processes and people.

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Digital will transform food shopping online, @Nielsen @FMI predict 70% will buy food online in 2025

Digital will transform food shopping online, @Nielsen @FMI predict 70% will buy food online in 2025 | WHY IT MATTERS: Digital Transformation | Scoop.it

FMI and Nielsen Company have partnered on the Digitally Engaged Food Shopper, a strategic engagement surrounding the forces and factors of change driven by digital technologies for both today’s and tomorrow’s food shopper. This multi-year initiative will reveal top trends in digitally enabled food shopping for both retailers and manufacturers to consider in their “connected commerce” strategies and capability investments. The exploration with Nielsen will ultimately inform food retailers and their trading partners how to craft a digital strategy; execute a plan; and appropriately resource it.

Farid Mheir's insight:

WHY IT MATTERS: FMI and Nielsen provide data to suggest that food grocery shopping online may reach disruption levels in 5-7 years. It is important because online grocery may be the last frontier of digital transformation. What we started in 1996 is finally showing signs of strong growth. We're almost there!

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The basics of a Funnel Marketing System are pretty simple but require many #digital #tools and #technologies to be combined to deliver metrics that have value via @funnel_io

The basics of a Funnel Marketing System are pretty simple but require many #digital #tools and #technologies to be combined to deliver metrics that have value via @funnel_io | WHY IT MATTERS: Digital Transformation | Scoop.it

What would the impact be on your business if you could improve the effectiveness of your advertising by 25%? This document outlines the different parts of a good advertising setup and provides advice on best practices.

Farid Mheir's insight:

WHY IT MATTERS: few marketing units measure the success of their advertising campaigns. This article describes what it takes to do so.

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EHI Retail Institute Top #Omnichannel Shops in Germany shows that there is much room to improve for both large and small  #Retail #ecommerce

EHI Retail Institute Top #Omnichannel Shops in Germany shows that there is much room to improve for both large and small  #Retail #ecommerce | WHY IT MATTERS: Digital Transformation | Scoop.it

Aperçu des boutiques cross et omnicanal parmi les 1 000 boutiques en ligne les plus vendues en Allemagne avec au moins 10 emplacements fixes.

Farid Mheir's insight:

WHY IT MATTERS: this german institute reports on omni-channel support in retail which visually shows that few retailers embrace omni-channel fully at this time. Would be interesting to see the same elsewhere to compare.

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Kleiner Perkins’ Mary Meeker Internet Trends at Code 2018 #mustRead #weekendRead #video #AI #eCommerce

Kleiner Perkins’ Mary Meeker Internet Trends at Code 2018 #mustRead #weekendRead #video #AI #eCommerce | WHY IT MATTERS: Digital Transformation | Scoop.it

"When you have rising monetization, rising growth and rising data collection, it drives a lot of regulatory scrutiny whether it’s related to data privacy, competition or safety in content."

Farid Mheir's insight:

WHY IT MATTERS: this is the annual presentation to level-set everyone on the Internet, mobile, ecommerce, cybersecurity, epayment, personalization, etc. She covers everything and shows that digital transformation is in full swing. Just WOW. Again.

Martin (Marty) Smith's curator insight, December 19, 2018 8:15 AM

Meeker is as close to Nostradamus as we are likely to get. 

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The biggest challenge in #eCommerce today is delivery cost and timing: Amazon is in a great position to solve this one as are grocery retailers via @statista

The biggest challenge in #eCommerce today is delivery cost and timing: Amazon is in a great position to solve this one as are grocery retailers via @statista | WHY IT MATTERS: Digital Transformation | Scoop.it

Amazon spent $21.7 billion on shipping in 2017.

Farid Mheir's insight:

WHY IT MATTERS: Amazon spends 14.2% of its net sales to fulfill orders and 12.2% to deliver them to consumers. Thus a quarter of the costs of products sold is allocated to logistical costs and this is the biggest hurdle to eCommerce wide adoption. Amazon and other pure plays have a number of key advantages over established brick-n-mortar retailers (no retail store costs, no store employees, etc.) but they have to battle with order preparation and delivery which traditional retailers delegate to their customers as they push their carts in the store aisle. In that context, recent announcement of Sobeys to leverage Ocado's automated warehouse technology or recent Amazon announcement to create a parcel delivery solution that competes with FedEx and UPS makes sense. Any retailer thinking of scaling its eCommerce operation should thus make sure that its business model is viable regarding fulfillment and shipping - all other elements of eCommerce are not an issue.

- Amazon SWA service: http://fmcs.digital/blog/amazon-package-delivery-service-to-compete-with-fedex-and-ups-swa-ecommerce-disruption-retailapocalypse/ 

- Sobeys Ocado partnership: http://fmcs.digital/blog/u-k-s-ocado-taps-into-canadas-online-grocery-market-with-sobeys-tie-up-is-canada-mature-enough-to-have-automated-grocery-fulfillment-centers-ecommerce-robots/ 

- Ocado's technology: http://fmcs.digital/blog/video-shows-ocado-warehouse-technology-that-sobeys-has-acquired-to-prepare-grocery-orders-is-based-on-an-army-of-small-robots-working-on-3d-hive/ 

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Google tracks #creditCard transactions + mobile locations + loyalty to measure impact of #ads on store sales

Google tracks #creditCard transactions + mobile locations + loyalty to measure impact of #ads on store sales | WHY IT MATTERS: Digital Transformation | Scoop.it
If you collect email information at the point of sale for your loyalty program, you can import store transactions directly into AdWords yourself or through a third-party data partner. And even if your business doesn’t have a large loyalty program, you can still measure store sales by taking advantage of Google’s third-party partnerships, which capture approximately 70% of credit and debit card transactions in the United States. There is no time-consuming setup or costly integrations required on your end. You also don’t need to share any customer information. After you opt in, we can automatically report on your store sales in AdWords.
Farid Mheir's insight:

WHY THIS IS IMPORTANT

So many people tell me that they are not on Facebook because they want to keep their privacy. This is another proof that privacy does not exist anymore and that there is no line between online and real-world. Please all be aware and try to put into practice the tips I share during my talks on me.com and the management of your digital twin. for more, read these:

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3 Million #Instacart Orders, Open Sourced

3 Million #Instacart Orders, Open Sourced | WHY IT MATTERS: Digital Transformation | Scoop.it

Instacart is excited to announce our first public dataset release, “The Instacart Online Grocery Shopping Dataset 2017”. This anonymized dataset contains a sample of over 3 million grocery orders from more than 200,000 Instacart users.

For each user, we provide between 4 and 100 of their orders, with the sequence of products purchased in each order. We also provide the week and hour of day the order was placed, and a relative measure of time between orders.

 

Farid Mheir's insight:

WHY THIS IS IMPORTANT

In today's eCommerce world, winners do not limit themselves to building great catalogs and payment processing experience. They actively analyze data to understand customer behaviour, to provide them with exceptional information to speed-up their shopping experience, but also maybe make them buy more or more expensive products. This is a great example of such a data analysis by grocery shopping leader instacart. It provides amazing insights into grocery shopping but also has open sourced the data for others to benefit.

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2016 pre- #Thanksgiving #retail survey shows #omnichannel #webrooming #showrooming always must-haves v @Deloitte

2016 pre- #Thanksgiving #retail survey shows #omnichannel #webrooming #showrooming always must-haves v @Deloitte | WHY IT MATTERS: Digital Transformation | Scoop.it

Explore consumer attitudes and trends about Black Friday retail this year in our latest report. Our pre-Thanksgiving survey polled more than 1,200 consumers across the United States to get a pulse check on their shopping strategy for the long Thanksgiving weekend that includes Black Friday and Cyber Monday. This year 76 percent of holiday shoppers plan to shop over the long weekend, spending an average of $400—that is $31 more than last year.

Farid Mheir's insight:

Deloitte survey on Thanksgiving weekend forecast.

 

WHY THIS IS IMPORTANT

Always interesting to look at the forecast then compare with actual numbers. In the past, the pattern was clear: people move their holiday shopping online. What is also interesting is in the chart above about webrooming and showrooming: physical stores continue to play a big role and that is why omni-channel technologies are more important than never.

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US eCommerce Growth and Retail Sales Growth By Category

US eCommerce Growth and Retail Sales Growth By Category | WHY IT MATTERS: Digital Transformation | Scoop.it
US eCommerce grows around 15% in '15Q1 and penetration% goes up to 8.6% (Note: total retail sales excludes Auto/Gas in my calculation). In Q4 pen% is likely to be up to 10%. Non adjusted US retail
Farid Mheir's insight:

Useful data and insights from the US census survey. Essential for anyone thinking of going into eCommerce, the data shows the steady growth of eCommerce but its different penetration by category. For additional information on apparel retail, see also http://www.marketresearchworld.net/content/view/4681/48/ 

The link to the US census data will provide you with the actual numbers in excel format. 

http://www.census.gov/retail/index.html

Curated by Farid Mheir
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