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The Rise of Automation and the Fall of the Retail Business Model

April 11, 2017
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B2C Blog
by Judy Pridmore

Ben Silver | Which-50 | April 11, 2017

Interesting article on why retailers should be pushing heavily into automation. It just makes you wonder why it’s taking so long. It also questions the fundamentals of the supplier/retailer relationship and highlights how the margin model is fundamentally flawed and essentially unsustainable.

Retailers should be implementing ways that shoppers can get in and out of the store without having to queue, or having to deal with dysfunctional self-checkout machines…. the process could immediately be streamlined.

Why do we still have nearly all stores displaying product/pricing information on tickets rather than e-ink wireless displays connected to systems that can regulate the price of products on the fly.

Why is the supply chain still so manual?  With the huge amounts of data that retailers have on consumers’ historical purchasing behaviours, they should be able to generate models that accurately predict the required quantities of product.

How can retailers continue to force suppliers into margin concessions, unfair business terms and disproportionate demands?

Retail is changing and the volatility we’re seeing now is a result of the emergence and growth of Amazon and consumer behaviour shifts, which incumbents have not been able to keep up with.

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Putting customer experience at the heart of next-generation operating models

March 30, 2017
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Blog Customer experience
by Judy Pridmore

Shital Chheda, Ewan Duncan, and Stefan Roggenhofer | McKinsey | March 2017

The article has some interesting examples and highlights the value of improving customer experience. Although most of it is common sense (and a fair bit of jargon), a good checklist below.

  • Start with a clear understanding of what customer’s value and use it to decide where to focus (and what to deemphasize).
  • Guided by these priorities, simplify and streamline your underlying product and services; if you don’t, you’re likely to digitize existing complexity.
  • Link customer value to the operational drivers that underpin it, then design a new operating model based on these linkages, working back from the customer and using digital tools to streamline or automate your processes in line with what customers care about.
  • Tackle the most important customer journeys one by one and support the effort with operational changes to improve efficiency and speed.
  • Embed agile, cross-functional ways of working and reengineer your management system to support continuous improvement.

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Five ways to make the most of B2B user data

March 22, 2017
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B2B Blog
by Judy Pridmore

Jeff Herrera| Digitalist Magazine by SAP | March 22, 2017

How can your business transform all that digital activity into actionable insight? Here are 5 strategies for maximally leveraging consumer data from your website.

  1. Centralise data.Start by integrating all of a customer’s product preferences and purchase history so that it is readily available in one place. With this fuller picture, transactions will be smoother since you know what each client wants, needs, and has.
  2. Buyer profiles. Creating individual customer profiles is a powerful way of understanding how to market to them.
  3. Turn preferences into personalization. Once you’ve created a customer profile, you can use that picture to make personalized product recommendations based on their purchasing history, and also what customers like them are buying.
  4. Harness omnichannel. Empower your sales force with relevant data. Your customer profile should be compiled from and available to all your channels–sales force, call centres, and website.
  5. Real-time reports. Empower management with up-to-the-minute reporting that reveals how customers are interacting with your business.

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The Digital Future of Retail

March 15, 2017
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Blog Customer experience
by Judy Pridmore

Chong Mock Seng | Digitalist Magazine by SAP | March 15, 2017

Some interesting examples of new business models and how retailers are engaging better with customers.

Zara – with its new online store for Singapore. Indonesia’s PT Matahari Department Store also dove into e-commerce with the launch of MatahariStore.com, which allows customers to shop online and pick up their purchases at its nearest delivery hub.

Electronic goods, IT, and furniture retailer Courts, which breathed new life into its physical stores with the introduction of in-store self-help digital kiosks, Click & Collect counters, QR codes, mobile apps, and free WiFi – creating a more connected and personalized experience for customers.

SingPost – traditionally a postal service provider – now offers financial services, marketing solutions, and logistics services. Its e-commerce/brick-and-mortar mall, due to open in mid-2017, will allow shoppers to arrange for delivery to their homes after browsing in-store, saving tenant retailers the cost of having an in-store inventory space.

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Startup Genome 2017 report, a global perspective of the startup space

March 14, 2017
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Blog Startups
by Judy Pridmore

Startup Gemone | 14 March, 2017

Startup Genome’s report is an insightful look at the startup ecosystem globally. It deep dives and ranks the Top 20 countries, (in this year’s report Sydney is ranked 17 down from 16 and Melbourne is showcased in the Asia-Pacific section).

Startup Genome works to increase the success rate of startups and spread the global startup revolution.

Well worth a read.

Download a copy of the report.

Startup Genome 2017 report – a global perspective of the startup space

March 14, 2017
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Blog Startups
by Judy Pridmore

Startup Gemone | March 14, 2017

Startup Genome’s report is an insightful look at the startup ecosystem globally. It deep dives and ranks the Top 20 countries, (in this year’s report Sydney is ranked 17 down from 16 and Melbourne is showcased in the Asia-Pacific section).

Startup Genome’s aim is to increase the success rate of startups and spread the global startup revolution.

Well worth a read.

Download a copy of the report.

Regional views on Digital Transformation find common ground (SME’s)

March 14, 2017
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B2B Blog
by Judy Pridmore

Hernan Marino | Digitalist Magazine by SAP | March 14, 2017

According to a new IDC InfoBrief, “The Next Steps in Digital Transformation: How Small and Midsize Companies Are Applying Technology to Meet Key Business Goals,” sponsored by SAP, many firms worldwide are experiencing similar success. The study says 73%–87% of small and midsize companies across 13 countries say their technology investment expectations have been met or even exceeded. Top benefits include easier access to information, better portability within the office environments, and regulatory compliance.

No matter the region or industry, 56% of small and midsize companies view “improving customer acquisition” as the top priority for their digital strategies.

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Change across the board: Why boards need to digitally evolve

March 10, 2017
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Blog Boards
by Judy Pridmore

Jodie Sangster | CMO | March 10, 2017

A great synopsis of the ‘digital’ challenges facing boards.

Digital transformation has fundamentally altered the way that executive management should be shaping company strategy, performance and future financial success. Transformation is also widespread across Australian industry. A recent study by Russell Reynolds showed that to a greater or lesser degree, all sectors of business are being disrupted.

As Jodie highlights many Boards are not moving quickly enough to change their mindset and ‘skill up’ for digital. And the failure of companies to successfully digitally transform poses one of the biggest corporate risks of recent times. Boards, whose raison d’être is to mitigate risk, must evolve if they are to effectively fulfil their purpose.

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The new battleground for marketing-led growth

February 28, 2017
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B2C Blog
by Judy Pridmore

By David Court, Dave Elzinga, Bo Finneman, and Jesko Perrey | McKinsey Quarterly, February 2017

Over 87% of consumers now shop around; loyalty is more elusive that ever. Although there has been significant growth in the number of loyalty program members in the past two years, 58% of members don’t use the programs they were signed up for. Hooking consumers in early is the strongest path to growth.

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