Retail Rant

I continue to write about this topic which is a huge part of any orgs. digital strategy & process management.  No level of technology will really help if the omnichannel strategy for a company does not pay attention to the store associates and their enablement in the digital world. Here is my view on what a new age customer does, where do they need interaction & how could store associate really make a difference. A new age customer will: Not be unnecessary circling the stores. Will know what he/she wants and most probably checked everything before walking into the store. Will like to reserve their item [BOPIS] for a hassle-free scenario Otherwise, Will definitely check the availability of an item in the store before coming in Will use self-checkout Will use mobile payment options However, there are going to fewer of the scenarios, where he/she will reach out to a store associate. This will not be an ordinary scenario.  This scenario will usually mean: They can't find w...

Shoptalk 2018 concluded this week, on 21st March in Las Vegas. Its been couple of days since I got back and caught up with my work and personal life. Shoptalk was an excellent event overall and I came back with a lot of interaction, learnings & meetings. Here are some notes from the events. Show recap 1. In contrast to NRF, IRCE and some other bigger events, Shoptalk was very focused on bringing the best around retail and all products & technology aspects in the periphery of this industry. Digital commerce, Store solutions, grocery, emerging technologies covering Artificial intelligence, Augmented reality & Machine learning were the flavors in every dish served here. This year the conference grew bigger, and approx 8500 attendees made way to this event. 2. The sessions at the event covered a lot of broad base companies like Macy's, Target, eBay, Boxed, Ascena Retail, Nike. The sessions all reflected on a broader vision which these companies have in the world of omnichan...

I tweeted last month reading about Walmart scan & go stores, and they really excited me. I have been saying this in the open that I love the efforts which Walmart is putting into fighting the retail battle with the initiatives in place .[click the link to read that story]. Did you read it?  [Read on for my experience at the store with Images] The problem:   there are fewer stores where Walmart has started piloting the 'Scan & go' concept. The good:   and most exciting aspect is that they didn't create a new format for a store, so essentially this concept is good for a full-size typical Walmart stores/supercentres which typically are huge. So, it was but natural that I have been looking forward to checking such a store out.  Wouldnt you!  Last week, On a client meeting trip to Duluth, as we were chatting about the retail space and ideas, my client mentioned that there is a new Walmart store nearby his home which has started s...

I got down to thinking what will retail store of the future look like and started looking at various aspects. Retail as an industry is changing rapidly, and for good. The pace of change could not be faster than before. In just a decade, everything associated with Retail has been disrupted multiple times over.  Just think about shopping, Payments, Merchandising, shoppers and how do they buy, where do they buy, what is their expectation, what type of different stores types have come up and so much more. While internet and e-commerce have played a huge role in this transformation, Retail has gotten a complete makeover. And when i go to conferences everyone is trying to paint a picture. Most of the times the intent is to bring their services in the context of that vision, so they can sell. Thats why when you join an interesting looking webinar or read a whitepaper at times, you are asking yourself is this about the vision or about a solution. Taking a completely consumer centric v...

When you go around shopping these days, you would agree with me that everyone is talking about their payment systems? Wouldnt you!  [Read on for my detailed analysis on various payment systems ] There has been a lot of traction in the mobile wallet & digital payment world. While PayPal continues to take the biggest share of mobile wallets, a lot of companies have been putting efforts into getting their payment systems up and running, and hopefully, change consumer habits of opening their wallets and swiping their cards. Apple pay has done well, both in marketing & adoption. Big Brand following & deep pockets! Samsung Pay has been my personal favorite and also offers backward compatibility with older payment devices where it simulates a card swipe .  Then I came across Android Pay! Google is already announced Google pay. Walmart is pushing its customers to use Walmart Pay . to an extent that they may not even support other digital payment wallets!!! What! JP Morgan...

Shelf edge electronic displays have been an interesting subject and have remained on the conversation street for now quite some time. There have been few interesting experiments by Kroger  which are going bigger now, and other retailers are also warming up to bringing this technology onboard, but overall there has been a lackluster adoption of electronic shelf edge displays in the North American retail space. Electronic shelf edge displays have seen much better-adoption rates in the European markets, In Belgium, Italy and Spain , but has the time come for this to be adopted at a large scale within mainland North America? What is Electronic Shelf Edge display? Electronic Shelf Edge display is a technology which replaces those paper clipped price tags inserted in front of items on the shelves, which you saw all around the stores, with electronic labels which can be controlled centrally. From my viewpoint, The need for paper clipped price, or now electronic shelf edge displays comes f...

This week, Amazon finally launched Amazon-go store. Yay!!! This store has been in testing for over 1 year and was open to Amazon employees in between, for well not shopping but test driving. That must be fun test, on Amazon's dime. Instead of training the employees to run the store, they were training the zillions of cameras, sensors and working on recalibrating the processes.  Reports were that when things were moved around[scenario, where you walk in with your child and they let loose], there were errors reported. However, most of that seems to be perfect now. It's a big step forward for everyone and that's why every media outlet is going ga-ga and every retailer is sweating. For those souls, who don't what Amazon go is? I know you are there! It's a physical store, launched by Amazon as an extension to their online giant brand, and also as an experiment to disrupt typical retail. how is disruptive, you may ask? There is freakin no checkout lane, and there is no ca...

This week, Amazon finally launched Amazon-go store. Yay!!! This store has been in testing for over 1 year and was open to Amazon employees in between, for well not shopping but test driving. That must be fun test, on Amazon's dime. Instead of training the employees to run the store, they were training the zillions of cameras, sensors and working on recalibrating the processes.  Reports were that when things were moved around[ scenario , where you walk in with your child and they let loose ], there were errors reported. However, most of that seems to be perfect now. It's a big step forward for everyone and that's why every media outlet is going ga-ga and every retailer is sweating. For those souls, who don't what Amazon go is? I know you are there! It's a physical store, launched by Amazon as an extension to their online giant brand, and also as an experiment to disrupt typical retail. how is disruptive, you may ask? There is freakin no checkout lane, and there is no...

I was recently working on my schedule for this year, and identifying the different events, which I would potentially attend in 2018 in North America. My focus is on retail clients & some degree of b2b companies, hence I focus on events relevant to learning in those areas, and meeting clients. Here is my list. pls feel free to add below if you come across any more interesting events which are a must attend on my list this year: NRF- Just concluded Shop Talk , Las Vegas, NV ( March 18-21, 2018 ) Etail West , Palm Springs, CA  ( Feb 26-March 1 2018 ) Also have a Etail east event for those who are interested. B2B online , Chicago, IL ( May 7-9, 2018 ) Sapphire, Orlando, FL ( June 5-7, 2018 ) IRCE, Chicago, IL (June 5-8, 2018) Illinois Ecommerce Summit , Chicago, IL ( Sept 12, 2018 ) B2B next,   Chicago, IL ( Sept 24th, 2018 ) Give me a buzz if you are planning to attend any of these shows. I don't know about you, but I am not a very big fan of attending ...

I read and see a lot of things happening in the retail industry, and the omnichannel world. Every brand is trying to bring a certain technology solution to the forefront. Sometimes a clear goal is driving that transformation. Sometimes the fear of being left out drives that. and sometimes we are doing it because others are doing it, but its all pretty hazy when you ask 'why'. Similarly, consulting companies are reviewing the markets to fish new trends. as a consulting company, you want to excited clients and find new avenues. and sometimes you really want to be a problem solver for the bigger good. for the most part, it's for catching client attention. They publish reports, where they claim that X% of executives feel omnichannel is key to their business, but only y% have been able to do so. Similarly, Marketplace solutions have brought in a revolution too. Brands are being given a big way to increase their top line. They don't need to own the inventory, but they can eas...

I was reading about kohls today and learned about kohls working with right-sizing their 1100 stores and working with a national credit tenant (NCT). Being a new word, it peaked my interest. NCT, stands for national credit tenant. Who is a NCT- National Credit Tenant? A company which is awarded an investment grade rating based on financial strength & its size by the 3 major credit rating agencies- Moodys, fitch & Standard & poor. How does this help to work with a National credit tenant? financial stability. not losing the rent. being able to sign long-term contracts. Driving much more foot traffic in. What are the benefits to a company which gets high 'NCT' rating? Better leverage in lease deals.concessions. Better leverage in asking for customization (parking spaces, location customizations etc), marketing, advertising space etc. May be able to work closely & get into a strategic partnership on geography, state level. Who can be NCTs? Companies l...

Wanted to share some salient points which seem to be good news, and working well for Target corp as the q3 results come in. Target reported 70% of online orders fulfilled by stores. This is a significant trend, and inline with the trend and achievement JC Penny has made. This is also an excellent storyline for their adoption of omnichannel and continues to tell the retailers that the biggest weapon in their arsenal is store against their fight with Amazon, and if used well this will be their strength. [read my article on this here on linkedin .] Target as a brand has been playing solidly in certain segments too. While in the reported numbers, they did very well with the HOME GOOD segment, the rest of the segments are catching up.  Targets branding remains super strong, and its recognition across united states continues to keep it flying high. the rumors about Amazon taking target over etc have been making rounds, but i have been stating that it doesnt make sense for ...

I recently started using Samsung Pay and wanted to capture my experiences with it. Have you tried it? Its worth it. This all started from when I noticed someone pay with their phone in an apple store for buying another apple phone. Ironical! Silence... I was picking up an apple watch 3 for my wife as a Christmas gift. Yess! I was more excited. A guy next to me was browsing on his phone, and when it came to payment, he just used his phone to complete the process and walked away. However I must confess, it was like two zombies interacting. Dont you know what i mean? The human interaction, the "thank you", the "bye byes" etc are fading away. So, much so that it feels plasticky especially at stores as if the sales reps are pushed to say those words. Sorry, I digress: The coolest part of that was not the need to pull out the wallet, swipe or insert the card and everything around it. We always have our phone in the hand, and its so much more convenient. Since then, I cam...