WHY IT MATTERS: Digital Transformation
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WHY IT MATTERS: Digital Transformation
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Shopify as a Marketplace? or Lightspeed? or WooCommerce?

Shopify as a Marketplace? or Lightspeed? or WooCommerce? | WHY IT MATTERS: Digital Transformation | Scoop.it

One of the questions I see and hear quite often, is, "can Shopify be a marketplace? Like Etsy or Amazon? I want my sellers to have their own controls". So what exactly is the problem here? Shopify is great for eCommerce. Why can't we just hit an Easy button and make it be a marketplace, too, voila??

Farid Mheirs insight:

WHY IT MATTERS: shopify as a marketplace is question I've been asking for months (or any other eCom solution). After all, once you build your own eCommerce website on Shopify, all the components are in place to create a marketplace: products, categories, inventory, etc. After all, a marketplace is nothing more than a superset, a combination of all those individual shops?

Well, not really. A marketplace is more than a collection of products. It is a destination that provides a single user account, consolidated shipping and delivery, a single destination to resolve customer issues. It is a service, not a technology.

Thus, even though Shopify has the *technology* to build a marketplace, it does not (yet?) have the infrastructure to provide the *service* that a marketplace requires.

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The Marketplace Maturity Model by @McFadyenDigital

The Marketplace Maturity Model by @McFadyenDigital | WHY IT MATTERS: Digital Transformation | Scoop.it

The Marketplace Maturity Model SM (MMM) is an industry-first model for Ecommerce operators to providing a reliable guide for implementing or iterating an online marketplace.
The Maturity Model is comprised of 5 major stages, within each stage are actionable steps across advisory, technology, and business considerations. 

Farid Mheirs insight:

WHY IT MATTERS: looks like marketplaces have become a "thing" and merit their own maturity model. Given inherent complexity I guess this is warranted. Plus McFadyen are most experienced, they should know.

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The #Marketplace market is burning with new solutions and offerings to answer the need for #eCommerce consolidation: its location, location, location again! - check out the SuiteSpot Report from @m...

The #Marketplace market is burning with new solutions and offerings to answer the need for #eCommerce consolidation: its location, location, location again! - check out the SuiteSpot Report from @m... | WHY IT MATTERS: Digital Transformation | Scoop.it

The Marketplace Suite Spot report evaluates the top technologies businesses can use to create, launch, and grow an online marketplace property.

Farid Mheirs insight:

WHY IT MATTERS: marketplaces are the next step in eCommerce, as retailers realize that technology is not the issue anymore. Expect hundreds of marketplaces to show up on your radar in the coming years, further splitting the market in multiple zones. Retailers will have to revert back to the old maxim: location, location, location!

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#AR remains a marketing #gimmick with no real use case just yet as evidenced by this Amazon AR app promoted as a way to #reuse its boxes - in fact it just highlights the issues of over packaging, #...

#AR remains a marketing #gimmick with no real use case just yet as evidenced by this Amazon AR app promoted as a way to #reuse its boxes - in fact it just highlights the issues of over packaging, #... | WHY IT MATTERS: Digital Transformation | Scoop.it

Amazon has quietly launched a new augmented reality application that works with QR codes on the company’s shipping boxes to create “interactive, shareable” AR experiences. Called simply “Amazon Augmented Reality,” the retailer describes the app as a “fun way to reuse your Amazon boxes until you’re ready to drop them in the recycling bin.”

Farid Mheirs insight:

WHY IT MATTERS: 2 elements we can highlight from this announcement.

1- AR is often a marketing gimmick with no real purpose. Why would you download install and use this app? Same goes for most AR apps out there...

2- eCommerce has a major downside from a sustainability standpoint because of transport, returns, over packaging, plastics, etc. As volume grows this must be addressed. This AR app will not help in any way. Unfortunately...

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Speaking of #eCommerce returns: why not reuse, recycle, repair? Measuring the impact of circular economy via @BoardofInnovation

Speaking of #eCommerce returns: why not reuse, recycle, repair? Measuring the impact of circular economy via @BoardofInnovation | WHY IT MATTERS: Digital Transformation | Scoop.it

Learn what circular impact means and how you can measure it for your business! It's important to translate your strategy into tangible KPIs and measurable targets.

Farid Mheirs insight:

WHY IT MATTERS: a beautiful illustration of the circular economy and the multiple options to consider before the landfill.

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Ecommerce Returns are a big deal and for some industries represent more than a third of orders - this has a huge impact on profitability and customer satisfaction, so be aware and do everything to ...

Ecommerce Returns are a big deal and for some industries represent more than a third of orders - this has a huge impact on profitability and customer satisfaction, so be aware and do everything to ... | WHY IT MATTERS: Digital Transformation | Scoop.it

Ecommerce returns can make or break your business. See the latest stats on ecommerce returns, return policy examples, and a return policy template.

Farid Mheirs insight:

WHY IT MATTERS: returned products are a big deal for retailers because they a financial and logistical nightmare. As reported in a previous post, some retailers don't bother restocking and send returned products to the landfill, creating a real ecological issue. But there are ways to reduce returns. This post provides some of them.

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Survey finds companies struggle with #omnichannel as content is often siloed in different websites and solutions - What they call the digital innovation gap

Survey finds companies struggle with #omnichannel as content is often siloed in different websites and solutions - What they call the digital innovation gap | WHY IT MATTERS: Digital Transformation | Scoop.it

The industry’s largest-ever survey of CMS users reveals which technology drives greater business results.

Farid Mheirs insight:

WHY IT MATTERS: sharing content across different websites, eCommerce, in-store displays and new devices (ie. Alexa, siri) is difficult. This survey provides insights into the reasons why sharing is difficult. Be aware this is biased towards headless CMS, but the conclusions appear valid IMHO.

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Most returned products from Amazon and others - up to 30-40% of all items bought on #eCommerce - are not resold but end up in #landfill: Hidden cameras and secret trackers reveal where Amazon retur...

Most returned products from Amazon and others - up to 30-40% of all items bought on #eCommerce - are not resold but end up in #landfill: Hidden cameras and secret trackers reveal where Amazon retur... | WHY IT MATTERS: Digital Transformation | Scoop.it

It’s safe to say that online shoppers like the promise of easy — and even better, free — returns. But it may surprise consumers to learn what can actually happen to all those unwanted items. 

Farid Mheirs insight:

WHY IT MATTERS: think about it before you make holiday purchase on Amazon or elsewhere: if you return the product it may find its way in the landfill (some 30-40% of all clothing is returned). Just so you know...

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Google provides #small #retailers with multiple solutions to prepare for this holiday season #localRetail #buyLocal #achatLocal #lepanierbleu

Google provides #small #retailers with multiple solutions to prepare for this holiday season #localRetail #buyLocal #achatLocal #lepanierbleu | WHY IT MATTERS: Digital Transformation | Scoop.it

Help your small business prepare for the holiday season with tools from Google.

Farid Mheirs insight:

WHY IT MATTERS: Google has a number of tools and solutions to help small retailers appear in google maps, google search, google shopping and other areas where customers go when they search for products.

Direct link to the solution: smallbusiness.withgoogle.com/holiday

 

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Google research shows Canadian consumers are thinking about efficient ways to shop and plan their in-store purchases - #retailers must be #omnichannel

Google research shows Canadian consumers are thinking about efficient ways to shop and plan their in-store purchases - #retailers must be #omnichannel | WHY IT MATTERS: Digital Transformation | Scoop.it

Recent retail insights on the Canadian consumer journey shows Canadian consumers are thinking about efficient ways to shop and plan their purchases.

Farid Mheirs insight:

WHY IT MATTERS: Google research shows that customers go online to plan their in-store trips as covid wave#2 is among us. The need for omnichannel strategy and execution is more important than ever.

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Still own a store? If YES, then this In-Store Engagement Analytics will help you reshape In-Store Marketing to remain relevant in face of eCommerce rise

Still own a store? If YES, then this In-Store Engagement Analytics will help you reshape In-Store Marketing to remain relevant in face of eCommerce rise | WHY IT MATTERS: Digital Transformation | Scoop.it

In this presentation, you'll learn the methodology for deploying in-store shopper analytics software, understanding the metrics that matter most, how to use these metrics effectively, and the teams or roles that should be responsible for it.

Farid Mheirs insight:

WHY IT MATTERS: to make stores relevant in a world that moves to eCommerce, this report is full of useful insights to improve in-store marketing via technology and analytics.

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What will Covid-19’s legacy be? 24 Industries & Technologies That Will Shape The Post-Virus World

What will Covid-19’s legacy be? 24 Industries & Technologies That Will Shape The Post-Virus World | WHY IT MATTERS: Digital Transformation | Scoop.it

In some cases, the technological changes inspired by Covid-19 will come in the form of an acceleration of existing trends — for example, industrial automation and contactless payments. In other cases, like virtual reality, 3D printing, or telehealth, the crisis may change the course of the industry, enabling companies to demonstrate value that, until now, consumers have been unable or unwilling to see.

In this report, we’ll explore some of the trends created or accelerated by the onset of Covid-19 that are likely to change the way we live, work, learn, and relax long after the pandemic is over — and how the future of those innovations is likely to unfold.

Farid Mheirs insight:

WHY IT MATTERS: a great overview of the long lasting impacts of COVID in our lives.

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Whole Foods CEO does not think online grocery will remain the norm post-pandemic: 'Food is different' - #digitalDenial or #visionaryInsight?

Online grocery shopping surged since the pandemic kept Americans at home. The CEO of Whole Foods says as people start to feel more safe going out, that trend will fade.

Farid Mheirs insight:

WHY IT MATTERS: we've seen an acceleration of eCommerce adoption during covid lockdown worldwide. McKinsey says 10 years in 3 months. Shopify stock has surged, instacart orders have grown 250x, mirakl has raised 300M$ in funding, all based on this recent trend. 

But guys that have been doing retail for a long time are skeptical - like WholeFoods CEO (now Amazon). When everyone is FORCED to stay home, then of course eCommerce and home delivery will explode they. When things go back to normal, then retail will go back to normal is their belief.

Who's right? 

If you know me, you know where I stand on this. Going digital is like being an alcoholic: the first thing you must do on the road to recovery is recognize you have a problem... ;-)

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Alibaba Unveils New #Manufacturing #Digital #Factory that enables small-batch orders through automation & robotics

Alibaba Unveils New #Manufacturing #Digital #Factory that enables small-batch orders through automation & robotics | WHY IT MATTERS: Digital Transformation | Scoop.it

At an early stage, apparel was identified as the starting point for Xunxi – a sector in which the lengthy production cycles and high inventory levels have long been a problem for small and large players alike. Powered by new technologies such as real-time resourcing, process and cost planning, automated in-house logistics and Xunxi’s manufacturing operating system, the factory is able to produce small-batch orders at reasonable costs and with shorter delivery times, consequently increasing manufacturing efficiency from 25% to an average of 55%.

Farid Mheirs insight:

WHY IT MATTERS: this is a huge step forward and a sign of the times: manufacturing automation. Fueled by digital, automation, and robots, this enables production of smaller batches economically. When this is rolled out at full scale - I assume it still requires development and lots of tweaking - we can expect retailers to shorten the time from idea to production. with eCommerce, it enables the make-to-order that was made popular by Dell computers in the late 1990s: onl;y build the computer when an order has been placed. Expand this idea to t-shirts and you can see why this new Alibaba production facility is so important...

Joanna Joy Fieldings's curator insight, October 3, 4:21 PM
I think that new technologies are what can propel businesses to more successful odds. 
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Amazon sales +44% during covid increases need for delivery hub expansion -warehouses- in suburbs and cities 

Amazon sales +44% during covid increases need for delivery hub expansion -warehouses- in suburbs and cities  | WHY IT MATTERS: Digital Transformation | Scoop.it

The rise in ecommerce caused an unprecedented surge in Amazon's volume, but it came with fulfillment challenges. The coronavirus pandemic bolstered ecommerce growth—sales grew 44.4% annually in Q2—as consumers turned to online shopping instead of brick-and-mortar amid store closures. But the milestone came with challenges in handling the surge, including delivery delays and slowed shipping speeds. Other competitors, like Walmart, were able to more effectively weather the storm because of their massive store network, so replicating competitors' strategies could help Amazon recoup lost market share and extend growth during the busy holiday season.

Farid Mheirs insight:

WHY IT MATTERS: Amazon will use failing and bankrupt stores and shopping malls to build warehouses so close to consumers that 1-2hr delivery becomes possible - the last hurdle in making eCommerce viable in many product categories (grocery, food, meals, and other high volume / low margin categories come to mind first of course).

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Going Undercover As An Amazon Fresh Driver shows how Amazon is trying to crack the last remaining issue with ecommerce: delivery cost and speed via @HNGRY

Going Undercover As An Amazon Fresh Driver shows how Amazon is trying to crack the last remaining issue with ecommerce: delivery cost and speed via @HNGRY | WHY IT MATTERS: Digital Transformation | Scoop.it

62% of US adults have preferred to buy groceries in person since the beginning of the pandemic despite nearly a quarter of them using online delivery and pickup.

Farid Mheirs insight:

WHY IT MATTERS: amazon appears to be testing another method of grocery fulfillment that leverages dark stores that are close to households (with dedicated staff and soon micro-fulfillment automation) and a network of freelance drivers that delivers orders in a very small area in order to solve the last remaining problem of eCommerce: delivery cost and speed.

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Canada households #ecommerce survey: 47% have an Amazon Prime membership, 46% have ordered groceries online, Amazon dominates eCommerce except for grocery via @TechnoRousseau

Canada households #ecommerce survey: 47% have an Amazon Prime membership, 46% have ordered groceries online, Amazon dominates eCommerce except for grocery via @TechnoRousseau | WHY IT MATTERS: Digital Transformation | Scoop.it

E-commerce was already growing in Canada before the COVID-19 crisis, but circumstances created by the pandemic have quickened the pace significantly. A new Solutions Research Group (SRG) report, based on national interviews with 1,350 Canadians in both official languages in July 2020.

Farid Mheirs insight:

WHY IT MATTERS: No surprise, Amazon dominates eCommerce in Canada and Amazon PRIME appears to be a major reason why (if you have prime then you more inclined to spend on Amazon to recoup your investment). But online grocery is a tough nut to crack and traditional retailers lead in that category.

I predict that in the future Amazon will give traditional grocers a run for their money if they do not invest in:

1) reducing cost of pick-pack-delivery via automation and robotics,

2) becoming marketplaces to attract consumers and deliver more than food products (think dry cleaning, meals, and other low margin / high volume products) and

3) converting their store real estate to improve service over merchandise (think Apple store more than Walmart). 

To do so this may mean that their shareholders will need to support this massive investments and tolerate lower benefits and EBITDA...

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How will #5G transform retail? Forrester CIO’s Guide to 5G In Retail provides some answers and raises some flags #AR #VR #supplyChain

How will #5G transform retail? Forrester CIO’s Guide to 5G In Retail provides some answers and raises some flags #AR #VR #supplyChain | WHY IT MATTERS: Digital Transformation | Scoop.it

This report highlights potential 5G use cases in retail and provides advice on how retail CIOs can explore the potential of 5G.

Key Takeaways
- 5G-enabled augmented, mixed, and virtual reality alters brand-consumer interaction

- 5G-enabled IoT Services will drive supply-chain optimization
- 5G enables many other technologies in the retail sector
Farid Mheirs insight:

WHY IT MATTERS: 5G telecom network promises to revolutionize many industries including retail. This report from Forrester presents use cases for 5G may bring but also puts those in context of what exists today and how fast the transformation will be.

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Online Grocery growth during #covid is slowing down but the surge is clear - question is "will it stick long term"?

Online Grocery growth during #covid is slowing down but the surge is clear - question is "will it stick long term"? | WHY IT MATTERS: Digital Transformation | Scoop.it

U.S. grocery delivery and pickup sales for August 2020 totaled $5.7 billion, down from June’s peak, but other key performance indicators showed strength. Average order value increased to a record high of $95, and intent to make a repeat purchase in the next month reached 75% in a market that is nearly five times larger than it was just one year ago, according to the Brick Meets Click/Mercatus Grocery Shopping Survey fielded August 24-26, 2020.

Farid Mheirs insight:

WHY IT MATTERS: more insight that shows the possible long term impact of covid on the acceleration of eCommerce.

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Walmart overtakes Amazon as #1 in grocery #ecommerce - does this mean that physical stores are an asset for #ecommerce - contrary to popular belief...?

Walmart overtakes Amazon as #1 in grocery #ecommerce - does this mean that physical stores are an asset for #ecommerce - contrary to popular belief...? | WHY IT MATTERS: Digital Transformation | Scoop.it

The retailer’s 30% piece of the online grocery segment puts it ahead of Amazon, which saw its share slip to 27%, according to a survey by TABS Analytics.

Farid Mheirs insight:

WHY IT MATTERS: grocery is at the forefront of eCommerce battle. Delivery costs are high and at the center of the battle: where physical stores - if they are transformed - can become a strategic asset.

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Amazon vs. Walmart study highlights the fact that #loyaltyPrograms, #delivery and #technology are key levers where large marketplace try to innovate & differentiate

Amazon vs. Walmart study highlights the fact that #loyaltyPrograms, #delivery and #technology are key levers where large marketplace try to innovate & differentiate | WHY IT MATTERS: Digital Transformation | Scoop.it

Find out how the Amazon and Walmart marketplaces compare across key areas such as fulfillment, delivery, advertising, and more.

Farid Mheirs insight:

WHY IT MATTERS: this study highlights the areas where retail eCommerce leaders compete. The last problems to solve are with technology and logistics, especially delivery.

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In an era of #retail innovation, store real-estate must be repurposed to make way for the changing needs of consumers but also the needs of #eCommerce such as fulfillment and service via @McKinsey

In an era of #retail innovation, store real-estate must be repurposed to make way for the changing needs of consumers but also the needs of #eCommerce such as fulfillment and service via @McKinsey | WHY IT MATTERS: Digital Transformation | Scoop.it

Retailers must get creative with their real estate. Closing stores is certainly an option, but it shouldn’t be the first or only one that they consider. For starters, retailers must think ahead to the future needs of their online businesses; some store space could conceivably be reallocated to fulfilling online orders or providing other services.

Retailers can address overcapacity in their portfolio in several ways (Exhibit 4). Options include reinvigorating core categories within a store, repurposing certain areas of the store, renting out space to other businesses, right-sizing the store, removing it from the network entirely, or redeveloping it as a mixed-use property, perhaps with residential space—an especially palatable solution in regions with housing shortages.

Farid Mheirs insight:

WHY IT MATTERS: physical stores often are a liability in an era of reduced store traffic due to coronavirus and eCommerce. This article suggests ways to repurpose store layout.

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The most important chart to understand why Amazon Has No Profits (And Why It Works) - and why retailers & governments should be investing massively into eCommerce infrastructure

The most important chart to understand why Amazon Has No Profits (And Why It Works) - and why retailers & governments should be investing massively into eCommerce infrastructure | WHY IT MATTERS: Digital Transformation | Scoop.it

Amazon’s business is delivering very rapid revenue growth but not accumulating any surplus cash or profits, because every penny of cash is being ploughed back into expanding the business further. But, this is not because any given business runs permanently at a loss - it is because the profits from what is already there are spent on making new businesses. In the past, that was mostly in operations, but in recent years the investment firehose has again been pointed at capex.

Farid Mheirs insight:

WHY IT MATTERS: this article dates back a few years but is very important to understand Amazon and why it is so disruptive to retail.

Amazon invests most of its profits into developing solutions and infrastructure (via CAPEX or capital expenditure) in order to CAPTURE FUTURE ECOMMERCE SALES as the world moves from physical retail to digital.

To compete, retailers must either 1) leverage Amazon infrastructure (via marketplace, FBA, AWS, etc.) 2) or, if they are big enough, invest massively their CAPEX to build competing infrastructure to Amazon. This is difficult because their shareholders are used to getting return on their investments (which CAPEX will reduce): that may need to change. Or get the customers to pay for it (ie. massive walmart investments in eCommerce that they have just passed over to their suppliers - effectively having customers pay for it).

To maintain economic prosperity, governments should also invest in building shared infrastructure: large automated distribution centers, parcel delivery (canada post, USPS, etc.), digital payment processing, digital IDs, etc. This new infrastructure will benefit local retailers and local manufacturers, effectively financing their eCommerce competitiveness and ensuring survival of the economic fabric of their city / region / province / country.

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38 Ways Drones/UAVs Impact Society: from War To Forecasting Weather... to cracking the final issue with #retail #ecommerce? via @CBinsights

38 Ways Drones/UAVs Impact Society: from War To Forecasting Weather... to cracking the final issue with #retail #ecommerce? via @CBinsights | WHY IT MATTERS: Digital Transformation | Scoop.it

High tech drones or UAVs are tackling everything from disease control to vacuuming up ocean waste to delivering pizza, and more.

Farid Mheirs insight:

WHY IT MATTERS: when Amazon receives FAA clearance for drone delivery, I take notice. After all, delivery is the final frontier for profitable ecommerce. So maybe drone delivery is the solution - especially for Canada and its wide empty territory? Not sure that drones will solve delivery issues but sure it is fun to think that it may provide a low-cost option in certain areas.

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21st century grocery store or the Walmart-killer? Amazon's new FRESH store reveals traditional shopping infused with digital technologies - last remaining hurdle: profitable delivery

21st century grocery store or the Walmart-killer? Amazon's new FRESH store reveals traditional shopping infused with digital technologies - last remaining hurdle: profitable delivery | WHY IT MATTERS: Digital Transformation | Scoop.it

Exclusive look inside Amazon's new grocery store from one of the few customers allowed inside until the location opens to the public.

Farid Mheirs insight:

WHY IT MATTERS: Amazon must crack grocery shopping to grow into a Walmart competitor. And weekly grocery trips mean customer loyalty, and reasons to use Amazon as the "one stop shop". As I've said before, if you can manage to deliver weekly groceries to the home and be *profitable*, then you've solved the last remaining eCommerce hurdle: delivery costs (now accounting for 15% of Amazon costs - HUGE).

So read this story of the new Amazon store but don't get stuck on the technologies (they are great and have plenty of limitations - especially the grocery cart called DASH) and focus on the transformational impact that grocery shopping will have for Amazon AS A WHOLE. This is a small step with huge implications for eCommerce + retail in general.

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