Last year's interview with Bill Davis on "Defining omnichannel retail"
was a great way to start the dialogue about this significant shift, and in
fact it's one of our most-viewed blogs. Now it's time to take the
conversation to the next level – requirements for execution. Here, Davis shares
the learnings he’s gleaned from his work on a number of omnichannel transition
projects – specifically related to the focus, effort, and time required for a
retailer to make the transition successfully.
There’s a lot of power in the idea that a properly defined
problem is more than half solved. So: Why are so many retailers still in the
doldrums 5 years after the “great recession” has ended? Four factors are called
out in a recent Fortune article. It's a good start, but we think there’s more to the story and more for retailers to think about when making plans for the future.
In the early
days of the digital revolution, many food shoppers were satisfied with a photo
that actually matched the product on the shelf and access to a standard
nutrition label, but now that’s not enough. Growing demand for reliable product information is creating new opportunities for those who aggregate
and sell information about product attributes.
Until now, most of the focus on customer touchpoints has
been on the pre-purchase part of the journey. Now, focus is expanding at the post-purchase end – and the pivot’s
happening via e-receipts and mobile receipt programs. The doors that these programs can open move retailer/manufacturer collaborations into new territory.
Social media is a powerful way to engage shoppers, and we
were recently reminded of how much fun and effective a flash mob in a grocery
store can be by these two videos. Watch the shoppers pull out their smartphones to capture the moment,
and then, of course, they spread the word just like we’re doing now.
Glen Terbeek's ideas about the future of food retailing were
prescient 15 years ago, and they are still provocative today. The founder of
Accenture's original Smart Store and author of Agentry Agenda: Selling Food in a
Frictionless Marketplace, talks with us about how food
retailing is configured today, and why manufacturers, retailers and competitors
need to work together to create a new “operating system” that better
fits today’s dramatically different retail market conditions. In a follow-up interview
next month, he talks with us about what that barrier-busting system might
look like in more detail.
Customers increasingly go online for information and
services, so retailers can use the web to give their customers “more of what
they’re looking for” – but it has to be delivered in a way that’s easy to
access and use. That’s why we like Relay Foods’ expanded nutrition label.
Elliott Grant’s 20+ US patents testify to his love of
finding elegant solutions to hard problems. Among his creations is a technology
that enables capture of supply chain insights on over $10bn worth of products a
year. When we heard he was working on an app that helps consumers connect their
food shopping with their nutritional needs, we wanted to know more. Here,
he talks with us about how shoppers use the app, how it personalizes
nutrition scoring for individual products, and what retailers can learn from
the data it generates.
hard separate cause and effect, but RSR’s new report, Omni-Channel 2014: Double
Trouble, does a nice job of comparing the winners' thinking and actions to the
laggards' when it comes to how retailers are looking at their move into
transitioning to omnichannel, one challenge retailers face is finding a way to
let go of activities that are no longer important to their customers/shoppers
and to increase investment in things that will drive sales growth. Holistic margin management may be a way forward.
The list of ten online grocery shopping services recently published by
Mashable sparked several thoughts for us about differentiation, segmentation, economies of scale and what to expect in the future.
PJ Stafford’s wide range of experience make him a great
source for thinking about how ecommerce might transform the grocery marketplace. Here, the Co-President of Honest Green, the ecommerce
division of UNFI, talks with us about why he's convinced grocery is ready to move into the mainstream of ecommerce, how
natural retailers and supermarkets can serve the “Long Tail” needs of their
customers, and what retailers
need to do to take full advantage of the opportunity.
“sharing economy” is not a fad according to research studies, and in fact it’s
becoming a larger part of the way many people around the world buy and access
goods and services. Nielsen recently found that more than half of those
surveyed in the US were “willing to share or rent personal assets for financial
gain” and more than 40% would be willing to lease goods and services.
We talk a lot about using digital to
improve the in-store experience, but little work has been done to define the
details or measure its impact on shopping and sales. Now there’s a research report
on AT&T’s new digital store installation that assesses the customer
experience and its impact on the store.
A lot of the initial digital “innovation” in food marketing
and distribution focused on applying technology to the usual suspects. So
digital circulars, coupons, and shopping lists replace paper ones, and shoppers
may place online orders but often still One.Item.At.A.Time. Here’s someone
who’s thinking about needs and opportunities in a much bigger way.