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How is New Innovative Technology going to affect the Future of Retail - LinkedIn (5)

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How is New Innovative Technology going to affect the Future of Retail - LinkedIn (5)

  1. 1. 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 1
  2. 2. HOW IS NEW INNOVATIVE TECHNOLOGY GOING TO AFFECT THE FUTURE OF RETAIL? 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 2
  3. 3. An Introduction… • Consumer lifestyles and technology are changing rapidly • As a result attitudes towards shopping are evolving • Success will require an omni-channel approach • Consumers want convenience ‘I’ve been in retail for 30 years. There has been more changes in the last 5 years than the previous 25’ Andy Clarke, CEO of Asda Walmart 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 3
  4. 4. An Introduction… • Technology needs to create engaging experiences • Retailers are undergoing a complete mobile revolution and apps need to be sophisticated • Smartphones have already caused large changes in consumer retail trends • 58% and 45% of people use their tablet or mobile respectively for shopping activities • 53% use their mobile phone to compare prices out while shopping 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 4
  5. 5. An Introduction… • There are more technological advances to come • Future is heavily tech-driven with greater customer expectations • Retailers need to leverage these new technologies if they want to stay ahead of their competition • There are 12 major technological innovations retailers need to consider. These are: 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 5
  6. 6. 12 Key Innovative Technological Advances • Digital Wallet & Mobile Payment Services • Bluetooth Low Energy Beacons • Wearable Technology • Augmented Reality Shopping • Drone Parcel Delivery Services • Car Boot Delivery Services • RFID Tagging • The Internet of Things • Smart Appliances • Home 3D Printing • Bitcoin • IT Infrastructure & Software 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 6
  7. 7. Digital Wallet & Mobile Payment Services 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 7
  8. 8. What is it? Digital Wallet & Mobile Payment Services • Using technology already embedded in mobile devices to make contactless payments • Can be used at fixed or mobile points of sale 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 8
  9. 9. Aim? Digital Wallet & Mobile Payment Services ‘Remove the friction from the payment experience for customers with the hope of generating opportunities for increased sales as a result of reduced waiting times, higher customer satisfaction and higher consumer confidence in the security of transactions’ 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 9
  10. 10. Examples Digital Wallet & Mobile Payment Services • Apple Pay – 1 million credit cards in registered within 3 days – 220,000 vendors by launch – 50% of US McDonald’s tap-to-pay transactions within 1 month • Android Pay – 700,000 registered vendors – Over 1000 configured applications 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 10
  11. 11. Pros Digital Wallet & Mobile Payment Services • More secure than contactless cards as: – Card numbers are not transferred with payments – Customers notified with a payment confirmation as soon as a purchase is made, – ‘Find my iPhone’ and ‘Android Device Manager’ enable customers to instantly lock their devices and wipe it clean of personal data. • No transaction limit • Credit charges processed at low card present rates • It’s security ensures retailers using such services are exempt from fraud liability happening within their stores 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 11
  12. 12. Cons Digital Wallet & Mobile Payment Services • *It will decrease the use of the checkout zone* • Slow Uptake BUT…. • Hard to tell if due to low consumer or retailer adoption rates 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 12
  13. 13. Bluetooth Low Energy Beacons
  14. 14. What is it? Bluetooth Low Energy Beacons • Small Beacons in stores that emit low energy EM radiation that can detect when other Bluetooth devices are nearby. • Allows retailers to deliver targeted campaigns to customers’ mobile devices, when entering a store or in store specific locations • Notifications about item details, prices, store location, links to purchase items on the companies’ websites, and targeted offers based on customer’s online history • Potential uses in tracking customers around stores, with benefits over GPS 16/10/2015 14
  15. 15. Aim? Bluetooth Low Energy Beacons ‘improve customer experience in-store by providing customers with all the information they need, boosting consumer satisfaction and giving a greater opportunity for increased sales, while at the same time enabling retailers to have a smarter and more targeted approach’ 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 15
  16. 16. Examples Bluetooth Low Energy Beacons • Trials at US Apple Stores, Heathrow Airport, 100+ Regent Street Stores • McDonald’s 4 week pilot – Over 7 % increase in promoted product sales • House of Fraser Aberdeen piloted a Mannequin beacon scheme providing customers with information on the clothes the mannequins are wearing • Pilot success has lead to predicted market wide beacon sales, of over 60 million beacon units by 2019 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 16
  17. 17. Pros & Cons Bluetooth Low Energy Beacons • Allows a more targeted approach for customers • Opportunities for greater sales for retailers • Retailers can gain information on customer movement in-store • BUT… – Customers need to have store applications previously installed – Privacy Concerns over tracking – Need multiple beacons to triangulate locations, raising costs – Wi-Fi is more accurate but needs to be joined directly 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 17
  18. 18. What is it? Wearable Technology • Clothing and accessories that incorporate computers and advanced electronics with practical functions or just aesthetic qualities • 15 million wearable smart devices by December, 2015, set to increase to 70 million by 2017 • 2 major players: – Apple Watch – Google Glass 16/10/2015 18
  19. 19. 16/10/2015 19
  20. 20. What is it? Apple Watch • Apple’s first venture into the wearable technology market • A smart watch that syncs applications with your iPhone, allowing for a variety of different functions • Integration with Apple Pay and iBeacon enables: – In-Store location specific promotions – Swipe-to-Pay at portable POS 16/10/2015 20
  21. 21. Examples Apple Watch • Amazon, Asos and Zara are some of a long list of companies to have launched applications designed for the Apple Watch • Amazon’s App only has three functions: – Item search using Siri – Save products to your Amazon Wishlist – Check-out using Amazon’s 1-click ordering system • Predicted Sales of over 10 million in the first year alone • Sales predicted to overtake all previous wearable technology sales combined in one year despite ‘poor’ sales figures 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 21
  22. 22. Pros Apple Watch • For Customers: – Improved information – Reduced waiting times – Greater consumer satisfaction • For Retailers: – Higher sales – Wealth of data on customers – Ability to observe how digital advertisements directly impacts physical behaviour 16/10/2015 22
  23. 23. Cons Apple Watch • Limited operating platform capabilities, due to constrictive screen size & operating system require a different marketing approach • Doubts due to ‘poor’ sales figures, has led to it being labelled as a ‘flop’ 16/10/2015 23
  24. 24. 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 24
  25. 25. What is it? Google Glass • Augmented reality glasses with internet access, making use of an optical head mounted display • Production stopped, but rumours of Google Glass 2 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 25
  26. 26. What is it? Google Glass • Potential uses for customers: – comparing item prices, reviewing similar products, checking inventory availability, placing orders for out-of-stock items & suggestions for suitable accessories • Potential uses for retailers: – hands-free order commissioning in warehouses, decentralized fulfillment centers and store locations. – Mobile order fulfillment by utilizing barcode scanning using the glasses, adopting a ‘pick-by-vision’ approach 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 26
  27. 27. Example Google Glass • Tesco Labs piloted Google Glass application, allows customers to browse goods, view nutrition info and add items to their online basket “Glass is not a new platform to shopping as it’s functionality is different and more immediate. Instead it compliments other devices and integrates shopping into everyday life” Pablo Cobely, Tesco Lab’s Innovation Engineer 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 27
  28. 28. Pros & Cons Google Glass • Quicker access to relevant data for retailers • More personalized customer service with client specific suggestions and geo-targeted promotions • Facilitated real time virtual sales • Increased foot traffic and sales increases • BUT… – Intrusive design means low sales volumes anticipated – Needs collaboration with major (sun)glasses brand(s) to boost sales figures – *May contribute to decrease in importance of the checkout zone* 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 28
  29. 29. Augmented Reality Shopping 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 29
  30. 30. What is it? Augmented Reality Shopping • Objects that enables users to ‘locate, interact with and take photos of GPS-linked virtual objects positioned in the real world’ • Equipped with powerful promotional and social networking tools tailored for the mobile environment. 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 30
  31. 31. Aim? Augmented Reality Shopping • To drive customers to both physical and online destinations and hence increase product sales and enhance brand engagement. • To attract customers with visual suggestions & complimentary options, expediting the fitting room process and providing a hassle free experience, enabling a better customer-associate interaction 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 31
  32. 32. Examples Augmented Reality Shopping • Holiton has conceptualized plans for a ‘smart store’, leveraging facial recognition technology and allowing retailers to pull up shopping histories and recommend products. • H&M have incorporated AR technology into their mobile app based on AR platform, ‘Goldrun’ • Lego kiosks show a completed model when the box is held up to a camera • L’Oréal trialled a 3D AR makeup mirror & Macy’s opened a AR clothes-trying-on mirror • IBM’s ‘Memory Mirror’ captures a clip of a customer trying on multiple outfits & offers the ability to review outfits16/10/2015 © Thought Provoking Consulting 2015 – Confidential 32
  33. 33. Pros & Cons Augmented Reality Shopping • Allows for inventory trading and management alongside increased data collection with the ability to expand loyalty programs, sales tracking and social media sharing • Allows for cheap and easy advertising campaigns • Can be used to gain feedback on up-and-coming product lines • Minimises the risk of losing sales • BUT… – The technology is costly 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 33
  34. 34. Drone Parcel Delivery Services 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 34
  35. 35. What is it? Drone Parcel Delivery Services • The use of remotely operated drones to deliver small parcels to local residents 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 35
  36. 36. Examples Drone Parcel Delivery Services • Amazon CEO, Jeff Bezos, hopes drone deliveries will be reality by 2020 with pilot schemes in major US cities by 2016 • ‘Amazon Prime Air’ will use Octocopters to deliver small parcels to homes up to 10 miles away, in 30 minutes • Google trialled fixed wing drones that can deliver faster and over longer distances. They lower goods from 150 feet. Successfully delivered dog treats, medications and cattle vaccines to the Australian Outback • DHL is using drones to deliver medication to the German island, Juist, 12 km into the North Sea. They fly under 50 m avoiding flight authority regulations16/10/2015 © Thought Provoking Consulting 2015 – Confidential 36
  37. 37. Pros & Cons Drone Parcel Delivery Services • Speedy deliveries • Environmental friendliness • BUT… – Concerns remain about technology safety – In some countries: • Unmanned drones are forbidden • Owners have to maintain eye contact • Drones forbidden within 50 m of buildings • Drones can’t at altitude more than 50 m 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 37
  38. 38. Car Boot Delivery Service 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 38
  39. 39. What is it? Car Boot Delivery Services • Retailers deliver parcels to the boot of a parked car • Delivery drivers are issued the approximate location of the car and a digital key to allow temporary access to the car boot 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 39
  40. 40. Examples Car Boot Delivery Services • Trialled by Volvo, 86% agreed it saved time & would use it again • Amazon, DHL and Audi are also trialling it around Munich • Amazon also working on a similar returns system 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 40
  41. 41. Pros & Cons Car Boot Delivery Services • By providing alternative delivery services that suit customer’s personal needs, retailers may attract increased sales, generate larger revenues and encourage customer loyalty • BUT… – Concerns remain over the services security 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 41
  42. 42. RFID Tagging 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 42
  43. 43. What is it? RFID Tagging • ID system using radio frequency devices for identification and tracking purposes. • System includes RFID tags, a read/write device and a host system application for data collection, processing and transmission. • Originally used for supply chain management by Walmart. • High costs and benefit concerns caused the project to be scrapped in 2007 • System allows in inventory management 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 43
  44. 44. What is it? RFID Tagging • Can be used to close sales, on buyers’ terms, in store, on the web, on social media & ensure products advertised on the web are available in store • Allows associates to check inventories by walking quickly keeping inventory accuracy percentage in the high 90s • Potential for tracking products around the store and live inventory counts 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 44
  45. 45. Examples RFID Tagging • You can’t be good at omni-channel, without having high confidence at store level, at size and colour level.’ - Macy’s’ senior VP of logistics and operations • Macy’s trialled successful pilot, with RFID tags built into item tags resulting in RFID infrastructure rolled out in all US stores • Zara estimate that 2 associates take a store’s inventory in 30 mins. Previously took 10 associates 5 hours • Burberry using RFID tags to activate AR mirrors showing video’s of the tagged item, improving customer experience 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 45
  46. 46. Pros RFID Tagging • Quick, automated, cost efficient and accurate way to track inventory through the supply chain & in the retail environment • Allows faster optimal reorder cycles, reduced cycle stock, reduced out-of-stocks and a multi-channel capacity that allows for greater sales figures, lower costs and therefore greater sales revenues • RFID potential helping retailers become more competitive with online sellers through omni-channel sales. • Especially beneficial for retailers with high number of SKU’s and large sales volumes e.g. apparel/consumer goods 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 46
  47. 47. The Internet of Things 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 47
  48. 48. What is it? The Internet of Things • A network of physical objects embedded with electronics, software, sensors, & connectivity enabling objects to exchange data with manufacturers, operators and/or other connected devices. • Allows objects to be sensed and controlled remotely across existing network infrastructure, creating opportunities for more direct integration between the physical world and computer- based systems. • Sensors provide both consumers and retailers information in order to make decisions. 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 48
  49. 49. Consider this Scenario… 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 49
  50. 50. Pros & Cons The Internet of Things • Improved efficiency, accuracy and economic benefit. • By using data provided and seamless integration between various technological innovations both the retailer’s and consumer’s aims are realized. • BUT… – Still some way off yet 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 50
  51. 51. Smart Appliances 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 51
  52. 52. What is it? Smart Appliances • Smart Appliances are home appliances that have been connected to the Internet (as popularized by the Internet of Things) and often are connected to each other. • IHS Inc. predict growth with a compound annual growth rate of 134%, with over 700 million connected appliances by 2020. 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 52
  53. 53. Examples Smart Appliances • Samsung has vowed to ensure that all its new products will be able to be interconnected. • Functions on Samsung’s RF28HMELB refrigerator include: – Barcode scanner to monitor contents – Adding items to users’ online shopping accounts – Recipe suggestions – Switching the oven to certain temperatures – Setting an oven timer 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 53
  54. 54. Pros & Cons Smart Appliances • Potential to affect how supermarkets operate with more focus on delivery services and less emphasis on the checkout zone. 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 54
  55. 55. 3D Printing 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 55
  56. 56. What is it? 3D Printing • The printing of items, such as replacement parts, using a variety of materials. • Items are built up by layering the ‘ink’ until the blueprinted design has been created • ‘Inks’, include plastics, ceramics, metal, sand, sugar and chocolate but creations limited by printer size • Boeing wants to 3D print an entire plane by 2050 • Recent patent expiration has caused price drops from thousands to hundreds • Credit Suisse predicted increases of up to 30% in 3D printer sales16/10/2015 © Thought Provoking Consulting 2015 – Confidential 56
  57. 57. Examples 3D Printing • Retailers could offer product ranges without need to consider stocking or replenishment concerns – Amazon’s 3D Printing store • Customers could bring blueprints into stores for 3D printing - the customer acts as a producer and the retailer as the service provider. • Likely to see increases in printers in stores and homes due to their ability to provide immediacy and customization. 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 57
  58. 58. Potential Effects 3D Printing • 3D printers in homes: – Render delivery firms pointless, also risks to physical stores – Consumers print out a product at home using a centralised open source blueprint directory for object design – Retailers move into printer sales and requisite materials and/or developing 3D printing designs or design platforms to sell 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 58
  59. 59. Pros & Cons 3D Printing • Environmentally friendly technology • Easy & quick to use • BUT… – Technology and price isn’t there yet – Limited to printer size 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 59
  60. 60. Bitcoin 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 60
  61. 61. What is it? Bitcoin • First decentralized digital currency, created as a reward for payment processing work in which users offer computing power to verify and record payments into the public ledger or in exchange for different currencies, products, and services. 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 61
  62. 62. Examples Bitcoin • Bitcoin Banks e.g. Coinbase - estimated value of $400 million • Dutch City of Arnhem has over 40 Bitcoin accepting retailers • Overstock.com received over 830 orders, worth over £80,000, on the first day it started accepting Bitcoin • US stock exchange NASDAQ is experimenting with incorporating the underlying technology of a bitcoin cryptocurrency into its pre-IPO trading arm and NASDAQ private markets. 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 62
  63. 63. Pros & Cons Bitcoin • Merchants may accept it because of lower charges • Bitcoin point of sales solutions are readily available for retailers • BUT… – Concerns remain over Bitcoin’s security and legality – Scandals such as, ‘The Mt. Gox Arrest’ have hindered its popularity 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 63
  64. 64. IT Infrastructure & Software 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 64
  65. 65. IT Infrastructure & Software • So far… • BUT…for retailers to run technologies, must have relevant IT infrastructure and software packages able to deal with these new innovations • IT infrastructure has to: – Ensure an omni-channel approach for retailers – Be able to maintain retailers global presences – Track and analyse customer data – Run relevant promotions. • Leading IT systems providers are building the capability to do this 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 65
  66. 66. What do retailers need? IT Infrastructure & Software • Good Customer Relationship Management System • Good Merchandise Management System • Good Order Management System • Good Analytics Software Package 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 66
  67. 67. Customer Relationship Management (CRM) System IT Infrastructure & Software • A good CRM system must: – Provide cross-channel, consistent customer experiences using pre-built business processes – Integrate customer relationship management with enterprise applications, providing connections throughout the buyer's journey and making operations more efficient – Leverage industry-specific best practices for competitive advantage and lower the total cost of ownership 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 67
  68. 68. Merchandise Management System IT Infrastructure & Software • A good Merchandise Management System must: – Help retailers efficiently manage their operations through seamless execution of processes such as purchasing, distribution, order fulfillment & financial close – Manage key foundation data: hierarchies, suppliers, locations, and items – Provide proven Commerce Anywhere solutions to supporting the customer journey – Enable visibility of retail, franchise & wholesale transactions – Be flexible, and include extendable fields for easy process extensions – Support multiple financial books in a single instance – Manage evolving business processes, models and expansion 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 68
  69. 69. Order Management System IT Infrastructure & Software • A good Order Management system must: – Enable sale agents to have access to accurate and complete information via a single repository housing all relevant sales transactions – Empower customers through self-service status tracking functionality, accessible on the Internet, in order to improve customer satisfaction – Expedite sales cycles, so blanket sales agreements associate customer orders (releases) with pre-negotiated terms and volume commitments 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 69
  70. 70. Analytics Software Package IT Infrastructure & Software • A good Analytics software package must: ‘Enable retailers to leverage a wide range of information to operate more efficiently, offer new services and discover new ways to strategize, plan, optimise business operations and capture new market opportunities, whether it be promotions or optimum delivery schedules’ • This will allow retailers to gain insight into every aspect of their business, plan ahead, and act with confidence 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 70
  71. 71. Example IT Infrastructure & Software • Arcadia currently undergoing a complete IT systems overhaul, with the help of TPC Consulting • Changing from their original Legacy system to Oracle’s Retail Merchandising Warehouse Management System and Global Supply chain system, as part of the Horizon programme. • The system acts as a backbone to enable Arcadia’s international expansion and omni-channel revolution. • Arcadia will gain real time supply chain visibility alongside the ability to perform cost modelling for merchandise orders. 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 71
  72. 72. Pros IT Infrastructure & Software • Empowers employees with data access, applications and features • Lowers IT costs, reduces IT complexity, delivers higher quality of service • Speed, reliability, security and ease of use means suited for all types of database workloads, including enterprise applications, data warehouses and big data analysis, • Retailers can create hyper-connected enterprise with solutions to deliver seamless communications across fixed and mobile users with high performance, scalability and reliability. 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 72
  73. 73. Cons IT Infrastructure & Software • Concerns over privacy - retailers should comply with data privacy standards and convey what they are doing and why • No software firm is yet to integrate all software packages effectively so as to provide a whole IT systems programme for retailers who are looking to embrace the omni-channel revolution to the maximum 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 73
  74. 74. IT Infrastructure Technology and Software • IT infrastructure technology and software systems have crucial role in the future of retail • Systems must be able to cope and adapt to the demands of new technologies in ‘Big Data’ era • Infrastructure and IT systems that don’t will ensure retailers fall behind. • Without an up to date, reliable, simple and secure IT system, retailers will not be able to embrace the next step in the digital revolution 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 74
  75. 75. To Conclude… • The rate of uptake of new technologies will vary • Some technologies still need to be refined; others are more advanced • Adoption relies on whether retailers are willing to install the infrastructure needed for such technologies in their stores • Digital Wallet & Mobile Payment Services, Bluetooth Low Energy Beacons, Apple Watch, and RFID tagging will have the biggest impact in the short term • Technological advances will quicken as knowledge develops • Until adaptations are achieved, the Internet of Things and complete integration of all sensors and devices seems to be a distant ideal. 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 75
  76. 76. To Conclude… • Retailers should assess the benefits each innovation bring to their specific environment and be prepared to adapt as technologies evolve over time. • Consumers will have an increasingly personalized and localized retail experience • Retailers will have increasing amounts of data which should be used to optimize and personalise customer experience and sales revenues 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 76
  77. 77. To Conclude… • The shopping model of the future is poised to look radically different from the present • Retailers that fail to take advantage of such innovations and do not keep pace with changing technology will fall behind 16/10/2015 © Thought Provoking Consulting 2015 – Confidential 77
  78. 78. 16/10/20 15 © Thought Provoking Consulting 2015 – Confidential 78

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