22 Matching Annotations
  1. Feb 2019
    1. The increasingly political consumer

      consumer persona

    2. “Customer experience will overtake price and product as the key brand differentiator by the year 2020.”
    3. What disrupted the retail industry was not technology specifically, but how digital tools helped some companies deliver exceptional experiences.
    4. Especially as digital customer care and CSR become focal points for retailers, online forums and social media are now one of the most powerful tools for consumers.

      Community management - innovation opportunity in retail

    1. Retailers feel that the top three concerns are: (1) supply chain management and logistics issues (67%); (2) Labour availability and cost (56%); and (3) tariff costs (48%).

      Brexit concerns

    1. Same store sales – what is the typical brick-and-mortar store for a business type earning? Do these numbers grow year over year? What hurts them? Sales per square foot – what is the average revenue a brick-and-mortar retail business creates for every square foot of sales space? Inventory turnover – how many times does inventory sell out in a given time period? Cost of Goods Sold – what does it cost to purchase the goods sold by a retailer? What do the materials and production process cost? Of course these are only a baseline to set your research against. If you’re interested in digging deeper take a look at some of the opportunities here!

      KEY industry KPIs

    2. Risks As with any business, retail has its risks. A few things to keep in mind: Competition is rough, especially for the small business. Superstores such as Walmart and internet stores such as Amazon offer a breadth of selection and convenience that is tough to beat, and are frequently able to offer products at more compelling prices. Changing consumer trends can have an adverse effect on retailers. For example, technology spending is currently dominating softer goods like clothing - the new iPhone is often considered a “must have” as compared to a nice-to-have new shirt. In certain retail segments even the weather can be risky – consider a clothing store that stocks up on winter inventory only to experience a warmer than expected season. They’re left with overstocked shelves as spring comes in, and might have no choice but to offload product with deep discounts. Economic stress or uncertainty is a constant risk in the retail sector. Put simply, people spend less money when they’re not feeling confident about their incomes.

      Risks of the industry

    3. Smaller retail stores are now shying away from deep inventories with a broad selection of products and are instead focusing on a narrower spread of specialty items.

      focus on narrower product lists

    4. Retail sales were $5.3 trillion in the United States in 2015, a growth of 2% over 2014. In 2009 during the recession sales were $4 trillion. Excluding sales of automobiles, gas and restaurants, 2015 US retail sales were $1.2 trillion. This narrower selection of the retail industry includes general merchandise, apparel, furniture and specialty items, among other things. Internet retail sales grew a whopping 23% in 2015 and the numbers are in line to grow at a similar pace in 2016. Global retail sales were $20.8 trillion in 2015 and are expected to reach $22 trillion in 2016. Some estimates put global sales at $27.7 trillion by 2020.

      size of the retail industry by revenue

    5. What is the Retail Industry?

      What is retail?

    1. As retailers buckle down and prepare for potentially challenging times ahead, supply chain improvements can be a significant growth driver. But rather than just investing in trends like automation smart packaging in reaction to competitors, retailers should think about accumulating long-term competitive advantages through wider supply chain strategies.

      opportunity for innovation: smart packaging, supply chain

    2. With regulation after regulation hitting the market, it’s time retailers had their privacy compliance road maps in place. But compliance can also be a catalyst for reinventing personalization and having honest conversations with consumers. Integrity matters in creating loyalty, especially when it comes to dealing with personal identity.

      opportunity for innovation: privacy

    3. online-to-offline, last-mile delivery, supply chain as a service, social commerce, and the implications of advanced public and private infrastructure.

      opportunities for innovation

    4. They should be able to consistently mine the data they collect, transform their operations to deliver on the brand promise, and adapt to the future of work.

      opportunity for innovation

    5. through innovative offerings, personalization, authentic engagement, differentiated fulfillment,
    1. As such, retailers must now provide a hassle-free, seamless experience for the consumer in order to remain competitive
  2. Jan 2019
    1. no, you know, that is kind of the holy grail for every retail trader.

      trading algorithms

    2. Um, uh, I haven't seen a ton of success where people wanna go after retail and institutional at the same time.
  3. Apr 2017
    1. Overall, department stores employ a third fewer people now than they did in 2001. That’s half a million traditional jobs gone — about eighteen times as many jobs as were lost in coal mining over the same period.

      And this decline is rarely talked about.

  4. Mar 2017
    1. the internet giant is "exploring" the possibility of appliance and furniture stores with a technological angle.

      Not a new idea though.

  5. Aug 2016
    1. The problem, as Taylor explained, is that the rise of e-commerce and social media has lowered the cost of entry for new competitors.

      Sounds like a very quick summary of what Ben Thompson was saying two weeks ago. But, in this case, it’s from “the horse’s mouth”.