Augmented reality (AR) – technology that overlays computer imagery over real-world imagery as seen by cameras in real time, is being eagerly adopted by business. In retail, in particular, there are obvious opportunities for allowing customers to see how products will fit into their lives before they've taken them out of the store.
Farid Mheir's insight:
WHY IT MATTERS: using AR to visualize how you look in a hat is possible. The article provides links and other retail use cases where AR may prove useful. I tried it out and found it a bit on the gadget side but - no app to install and very simple use made it easy to try it out. Looks promising, especially combined with AI where it could "suggest" hats based on your outfit. This may prove a useful business case...
Average open rates are between 15% and 25% range, depending on industry, so for the 75% to 85% of recipients who do not open any given email they receive, the subject line IS the email. The ultimate email marketing guide is free to discover the trends that will impact email marketing in 2019.
Farid Mheir's insight:
WHY IT MATTERS: a recent survey provides numerous insights into email marketing tools and techniques. A great reference with numerous examples, tools and technologies. One highlight of the report are all the tools available that include AI and machine learning technologies to help craft the best content.
Beyond the world of email marketing in the wider world of business, the impact of Artificial Intelligence (AI) on productivity and employment has risen to prominence in the last two plus years as more affordable systems have become available from vendors. This has naturally prompted marketers to review the potential marketing applications of AI. To answer this question, in our guide to marketing applications of AI , Smart Insights has reviewed the opportunities and tools for AI across the customer lifecycle. This report highlights the critical trends and techniques that will help you transform your brand-customer relationships using the most powerful channel in your marketing mix: email!
Farid Mheir's insight:
WHY IT MATTERS: a recent survey provides numerous insights into email marketing tools and techniques. A great reference with numerous examples, tools and technologies. One highlight of the report is the role that AI plays in the creation and delivery of email campaigns in the coming years.
The role of a chief executive requires vision above all else. At Shoptalk, execs from Gap, Macy's, Nordstrom, Lowe's and a host of disruptors offered insights from a unique industry perch.
Farid Mheir's insight:
WHY IT MATTERS: this is a good sample of some of the key points heard at Shoptalk 2019 last week as it relates to the challenges established retailers face today and the transformation they are all embarking on.
“No industry,” wrote Harvard Business Review at the close of 2018, “is failing faster than retail.” At risk of contradicting the Crimson: bullshit. Sweeping proclamations make for great sound bites and (scholarly) clickbait. But the truth? Not so much.
At the opposite extreme lay headlines trumpeting “voice-search buying,” “Instagram-worthy pop-ups,” and “VR-enabled O2O experiences.”
What the data shows — and what the leaders we spoke to from brands at the forefront said — isn’t that retail is failing nor that success is tied to innovation for innovation’s sake. Instead, it points to the now unignorable center of commerce: customer choice. What is the future of ecommerce for 2019 and beyond? 10 insights offer the answer: Ecommerce v Retail: The Dichotomy Ends DTC Emerges as Commerce’s Future More than “Digitally Native” Tactics Content Becomes the Holy Grail of Growth Physical and Digital Solidify Their Relationship Social Commerce Evolves or Limps to the Grave Channels Must Deliver on Their Promises Mobile Buying Is (Almost) the New Normal Micro-Moments Win or Lose Conversions International Ecommerce Expands to the East
Farid Mheir's insight:
WHY IT MATTERS: full of insights and analysis and data on the state of eCommerce in 2019.
Between Initial Coin Offerings, new patents being announced, and new pilots being initiated, seemingly every day, blockchain-related activity is exploding. Here is the latest round up of developments that apply to retail.
Farid Mheir's insight:
WHY IT MATTERS: blockchain has a negative aura since the bitcoin debacle but it doesn't change the fact that it represents a a major technology breakthough that should be considered by retailers that face issues in a number of use cases - way beyond payment. For example, product traceability in the food business or personalized coupons represent low hanging fruits that companies are starting to address by providing new solutions that leverage the blockchain.
It’s an incredibly exciting time to be working in the retail industry. Ten years from now, consumers will look back and say: “Did shopping really look like that in 2019?”
Farid Mheir's insight:
WHY IT MATTERS: one page, 75 elements that will transform retail in coming years, most are technology-driven. Shoptalk conference is all about those.
In China, the either-or retail equation is being cast aside for New Retail, which merges the best of the in-store and online experiences. To Alibaba, success these days also means helping brands go omnichannel. An increasing number of brands are doing just that, tapping Alibaba’s New Retail tools, erasing the lines between online and offline.
The key to New Retail is the mobile phone, which provides the critical connection between online and offline retail to consumers. Brands in China have an advantage here because they don’t need to convince consumers to download and use their apps. That’s because they know 500 million consumers already have the Tmall app. “China is moving much faster than the West in this evolution because the Western retail model is built on legacy systems. China’s model is disruptive,” said Frank Lavin, CEO of ExportNow, a company which helps Western brands sell to China. “China does not have the legacy of malls and big-box stores like the West. China has no traditional retail model to defend.”
Farid Mheir's insight:
WHY IT MATTERS: retailers in China are growing fast and exploring new ways to interact with customers through digital means, providing new experiences without the burden of the legacy systems. This article reviews the different solutions Alibaba is exploring to move from being a digital online leader to an omnichannel powerhouse.
This guide has been developed by leading retail intelligence platform PSFK. Researchers from PSFK and the Paris School of Luxury surveyed New York City’s retail landscape to identify signs of innovation that connect with global customer experience trends. The quotes from shoppers, experts and retailers have been sourced by the researchers.
Farid Mheir's insight:
WHY IT MATTERS: on the heals of NRF2019, this report highlights some of the new concepts, experiences and technologies that are fast becoming essential for physical retail survival. For my french-speaking readers I encourage you to look at Nathalie's Innocenti 3min video summary of the NRF store visits we have done together: https://www.youtube.com/watch?v=PNEL9RtjbFc
Online or offline: These cannot be the only options for consumers. See how Alibaba is transforming traditional retail with a complete digitization of commerce.
Farid Mheir's insight:
WHY IT MATTERS: watch this short video to see what Alibaba is doing to transform the retail experience, the retail stores and truly create an omni-channel experience. Can this model be applied in North America or Europe remains to be seen but it certainly raises some very interesting options for what the future of retail will look like: try things, get service and counsel, then buy everything online and get it to your home in 30 minutes.
2018 was one of the best retail years on record, writes Chris Walton, and so it is only fitting to celebrate the highs and lows from the past year.
Farid Mheir's insight:
WHY IT MATTERS: retail is embracing digital disruption and as is often the case innovation tends to be all over the place. This article is great review of what's been done during the year and exposes how far ahead China is in this retail innovation quest...
Digital commerce innovators are moving beyond the traditional commerce site, and even mobile, to focus on emerging channels such as conversational interfaces.
New business models, such as subscription-based ordering and enterprise marketplaces, enable sellers to generate new revenue streams and focus on customer outcomes.
AI is playing a big role in digital commerce, improving customer experience, increasing revenue, reducing costs, and driving double-digit improvement in related metrics.
Customer-facing features continue to be the primary selection criteria for commerce platforms. However, agility, ease of deployment, flexibility to update content and deliver new features, and ability to scale are also crucial aspects of a commerce ecosystem.
Farid Mheir's insight:
WHY IT MATTERS: great analysis but as with every predictions, take with grain of salt... ;-)
Mission Capital Clients et Nathalie Innocenti partagen, en partenariat avec Emarketing.fr, les Grandes Tendances Store Tour NEW YORK 30 magasins + NRF 2019: Nouveaux Parcours & Expérience Points de Vente Connectés demain ? Best Practices & innovations les + prometteuses. Le tout en de 2 minutes. Enjoy !
Farid Mheir's insight:
WHY IT MATTERS: (in french) a great quick overview of the retail shopping experience and marketing trends as seen in NYC and NRF 2019. If you are in France, attend these events for more : http://www.mcclients.fr/nrf-2019-restitution/
In our 27-criteria evaluation of product information management (PIM) providers, we identified the 10 most significant ones — Agility Multichannel, Contentserv, EnterWorks, IBM, Informatica, inRiver, Riversand, Salsify, SAP, and Stibo Systems — and researched, analyzed, and scored them. This report shows how each provider measures up and helps digital business professionals make the right choice.
Farid Mheir's insight:
WHY IT MATTERS: a recent review of the top PIM solutions.
Online grocery spending continues to grow at a rapid pace, now making up 5.5% of total grocery spending in the U.S., according to a new study from advisory firm Brick Meets Click. Nearly 30% of U.S. households buy groceries online, and most of the near-term growth in online grocery spending will continue to come from this group of active online grocery shoppers. Over the past year, online grocery shoppers increased their weekly online spending from 28% to 46% of their total grocery spend, the firm found. Their average order size increased from $62 in 2017 to $69 in 2018. The report says that while grocers are well-positioned to meet the growing demands of online grocery shopping, Amazon, which has 77% household penetration, will continue to challenge other retailers when it comes to capturing online grocery spending – especially as it leverages iPrime membership benefits through Whole Foods.
Farid Mheir's insight:
WHY IT MATTERS: online grocery retail is the last industry to digitize and these figures seems to indicate that it is entering the world of "Real" business opportunity - after 25 years of hype!
Now there’s Robomart, which wants to bring the groceries, baked goods and prepared foods of the supermarket aisle to your doorstep with a white-labeled service for wholesalers and big box retailers.
Farid Mheir's insight:
WHY IT MATTERS: retailers beware. Or maybe not. I've seen trucks come to parking lots of warehouses where I worked summer jobs for years - they also cover garage and other locations where there are workers but no time or no convenience store close by. This robomart may replace those and expand to convenience store after...
Retailers at the Future Stores event in Seattle had a lot to say about where they thought the future of the store is headed. Here are some of the top takeaways.
Farid Mheir's insight:
WHY IT MATTERS: I read and research this topic *a lot* and find this summary is capturing some of the key issues retailers face today in their digital transformation. Must read.
So instead of trying to battle Amazon using the legacy inventory model — hoping that whatever is in stores will compel customers to make purchases — retailers are focusing experience driven through convenience. To do that, retailers are reducing friction at checkout, giving customers to options to pick up or ship items to stores, and adding digital tools to help find products either in the store or online, if they’re out of stock.
Farid Mheir's insight:
WHY IT MATTERS: this short article is very clear: retailers are changing the "function" of their stores from inventory display to service + experience. This is made possible by large investments in technology to enable mobility in store (wifi, tablet to employees, software for employees) and links to backoffice and online systems (ERP for inventory and order management, eCommerce for online availability, same-day shipping). Of course this means huge investments that have traditionally not been made as they were considered "not useful" because not necessary in the legacy operating model.
Ocado's new warehouse has thousands of robots zooming around a grid system to pack groceries. The thousands of robots can process 65,000 orders every week. They communicate on a 4G network to avoid bumping into each other. Is this the future of retail?
Shimona Mehta, Head of Revenue Acceleration for Shopify Plus, talks about the future of e-commerce and the key trends that are shaping the space. She talks about the three key trends shaping e-commerce today: Constantly shifting consumer behaviour, the need for retailers to innovate, and the rapid growth of direct-to-consumer sales. Watch the video for insights from Mehta on what these trends mean for your business.
Farid Mheir's insight:
WHY IT MATTERS: another point of view from an ecommerce pure play shopify. Interesting tidbits although there are a few commons grounds.
IoT has paved the way for brands to use connected devices in their physical spaces too. Learn how location-based brands can invest in technology-rich locations that raise the bar for customer experience.
Farid Mheir's insight:
WHY IT MATTERS: store of the future will focus on customer experience and technologies such as IOT are key enablers to make the enhanced experience seamless and complete. This research document classifies applications for IOT into 3 categories, track, intuit behaviour and deliver experience. I find this classification and the examples in the document very useful.
Proposed facility part of push to boost online grocery fulfillment. Walmart representative said the concept marks a different grocery pickup approach and would represent its largest pickup-only site. The location also would be Walmart’s first stand-alone, drive-up grocery facility in Illinois. The building would have no customer access and house 41,700 square feet of inventory space. Signs would direct customers driving through the lot to one of three canopied pickup bays, where they would park in a designated space and have their groceries loaded into their vehicle. Customers would order their groceries as usual via the Walmart Grocery app or website and select a pickup time in one-hour windows. Pickup trips and parking spots would be coordinated to avoid congestion.
Farid Mheir's insight:
WHY IT MATTERS: when Walmart gets into something, you should watch out. Here it seems they are exploring options for grocery fulfillment and delivery - as everyone is trying to figure out what will customer prefer and where to make money. But the solution feels like back to the future: the concept looks like a sears pickup counter from the old days! The article also mentions some delivery options being tested by Walmart including autonomous cars and crowdsourcing.
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.
Are you wondering what the future holds for your eCommerce website? Want to know the future trends likely to decide the success of your online shop? Here’s a quick summary of the key points of focus: Personalized experience Multiple shopping channels Customer service automation Cryptocurrencies as a payment method On-site and in-app mobile commerce Same-day delivery Pay-monthly models The future of delivery services Increasing video use Pop up shops
Farid Mheir's insight:
WHY IT MATTERS: every one of these trends seems to be supported by specific technologies - and these tech are not yet fully deployed at retailers today, leading to many that struggle to stay relevant IMHO.
From store-grown produce to a renewed emphasis on service counters, retailers are focusing on innovation as well as time-honored strategies in an effort to keep their stores relevant.
Farid Mheir's insight:
WHY IT MATTERS: from the recent Paris Retail Week, I have been infused with the mantra that store experience is the wave of the future. An it makes perfect sense - look at the 3 areas in an Apple store: showroom, service and support. Key element behind all of this is a good dose of technology. But here again the trend is to hide the technology (think Amazon GO) instead of putting it at the forefront (Walmart retiring their self scanning apps). More in this article.
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WHY IT MATTERS: using AR to visualize how you look in a hat is possible. The article provides links and other retail use cases where AR may prove useful. I tried it out and found it a bit on the gadget side but - no app to install and very simple use made it easy to try it out. Looks promising, especially combined with AI where it could "suggest" hats based on your outfit. This may prove a useful business case...