WHY IT MATTERS: Digital Transformation
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WHY IT MATTERS: Digital Transformation
Going digital in your business? I select the best posts and highlight the reasons why it matters. Like it? Click "recommend" + register to get the digest in your inbox: http://fmcs.digital/newsletter-signup/
Curated by Farid Mheir
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Retail isn’t dead, it’s just changing: Shopify’s Shimona Mehta on the future of e-commerce and Direct-to-consumer trends #eCommerce #Retail

Retail isn’t dead, it’s just changing: Shopify’s Shimona Mehta on the future of e-commerce and Direct-to-consumer trends #eCommerce #Retail | WHY IT MATTERS: Digital Transformation | Scoop.it

Shimona Mehta, Head of Revenue Acceleration for Shopify Plus, talks about the future of e-commerce and the key trends that are shaping the space. She talks about the three key trends shaping e-commerce today: Constantly shifting consumer behaviour, the need for retailers to innovate, and the rapid growth of direct-to-consumer sales. Watch the video for insights from Mehta on what these trends mean for your business.

Farid Mheir's insight:

WHY IT MATTERS: another point of view from an ecommerce pure play shopify. Interesting tidbits although there are a few commons grounds.

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Retail stores will transform into an experience delivery center - Internet of Things #IoT will enable the key use cases to make it happen @Altimeter

Retail stores will transform into an experience delivery center - Internet of Things #IoT will enable the key use cases to make it happen @Altimeter | WHY IT MATTERS: Digital Transformation | Scoop.it

IoT has paved the way for brands to use connected devices in their physical spaces too. Learn how location-based brands can invest in technology-rich locations that raise the bar for customer experience.

Farid Mheir's insight:

WHY IT MATTERS: store of the future will focus on customer experience and technologies such as IOT are key enablers to make the enhanced experience seamless and complete. This research document classifies applications for IOT into 3 categories, track, intuit behaviour and deliver experience. I find this classification and the examples in the document very useful.

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sales@thefutureof.report's curator insight, October 16, 4:06 PM
Retail as an experience center
 
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Prepare for the Holiday eCommerce rush with this guide

Prepare for the Holiday eCommerce rush with this guide | WHY IT MATTERS: Digital Transformation | Scoop.it

Ready for unique insights into Canada’s e-commerce holiday landscape – and tips on how to make the most of this 2018 holiday season?

Farid Mheir's insight:

WHY IT MATTERS: holiday season starts with black friday / cyber monday. Companies need to prepare to get their logistics and delivery ready. Some useful insights in this shameless plug from Canada Post...!

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Future retail store may look more like a large vending machine or Sears counter : Walmart eyes pickup-only store in former Dominick’s HT @O_Laborne

Future retail store may look more like a large vending machine or Sears counter : Walmart eyes pickup-only store in former Dominick’s HT @O_Laborne | WHY IT MATTERS: Digital Transformation | Scoop.it

Proposed facility part of push to boost online grocery fulfillment. Walmart representative said the concept marks a different grocery pickup approach and would represent its largest pickup-only site. The location also would be Walmart’s first stand-alone, drive-up grocery facility in Illinois. The building would have no customer access and house 41,700 square feet of inventory space. Signs would direct customers driving through the lot to one of three canopied pickup bays, where they would park in a designated space and have their groceries loaded into their vehicle. Customers would order their groceries as usual via the Walmart Grocery app or website and select a pickup time in one-hour windows. Pickup trips and parking spots would be coordinated to avoid congestion.

Farid Mheir's insight:

WHY IT MATTERS: when Walmart gets into something, you should watch out. Here it seems they are exploring options for grocery fulfillment and delivery - as everyone is trying to figure out what will customer prefer and where to make money. But the solution feels like back to the future: the concept looks like a sears pickup counter from the old days! The article also mentions some delivery options being tested by Walmart including autonomous cars and crowdsourcing.

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"Smart Phygital" the #buzzword at #PRW18 that bundles #digitalTransformation concepts and a new reality: there is no difference between #ecommerce and physical store commerce: it is just commerce #...

"Smart Phygital" the #buzzword at #PRW18 that bundles #digitalTransformation concepts and a new reality: there is no difference between #ecommerce and physical store commerce: it is just commerce #... | WHY IT MATTERS: Digital Transformation | Scoop.it

Une enquête menée en 2018 par 421 Research pour Ayden auprès de 5 033 Européens (Royaume-Uni, Allemagne, Espagne, France et Pays nordiques), rend compte de l'importance de la vision "Smart Phygital" pour les acteurs de la distribution. Comme le montre notre graphique, les attentes des consommateurs vis-à-vis de l'expérience d'achat se concentrent autour de 3 axes : la personnalisation, la stratégie omnicanale et l'innovation digitale.

Farid Mheir's insight:

WHY IT MATTERS: too many buzzwords, too many concepts are increasing the confusion of retailers and merchants. This year at the Paris Retail Week it was "smart phygital" a concept that means nothing more than the fact that eCommerce is morphing into retail commerce, driving changes in stores to go from mini-warehouses to an experience destinations where consumers will get product showrooms, advice and support. And all of that supported by digital technology and requiring huge digital transformation of processes and people.

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The Future of Commerce: 60 Stats and Trends for 2019 and Beyond #Infographic HT @MaireadKillian1

The Future of Commerce: 60 Stats and Trends for 2019 and Beyond #Infographic HT @MaireadKillian1 | WHY IT MATTERS: Digital Transformation | Scoop.it

Are you wondering what the future holds for your eCommerce website? Want to know the future trends likely to decide the success of your online shop?
Here’s a quick summary of the key points of focus:
Personalized experience
Multiple shopping channels
Customer service automation
Cryptocurrencies as a payment method
On-site and in-app mobile commerce
Same-day delivery
Pay-monthly models
The future of delivery services
Increasing video use
Pop up shops

Farid Mheir's insight:

WHY IT MATTERS: every one of these trends seems to be supported by specific technologies - and these tech are not yet fully deployed at retailers today, leading to many that struggle to stay relevant IMHO.

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Self scanning (and other digital tech) is 1 in 5 ways grocers are elevating the store experience - but I suggest you'd better hide #digital #technology so that it is outside of view

Self scanning (and other digital tech) is 1 in 5 ways grocers are elevating the store experience - but I suggest you'd better hide #digital #technology so that it is outside of view | WHY IT MATTERS: Digital Transformation | Scoop.it

From store-grown produce to a renewed emphasis on service counters, retailers are focusing on innovation as well as time-honored strategies in an effort to keep their stores relevant.

Farid Mheir's insight:

WHY IT MATTERS: from the recent Paris Retail Week, I have been infused with the mantra that store experience is the wave of the future. An it makes perfect sense - look at the 3 areas in an Apple store: showroom, service and support. Key element behind all of this is a good dose of technology. But here again the trend is to hide the technology (think Amazon GO) instead of putting it at the forefront (Walmart retiring their self scanning apps). More in this article.

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Digital will transform food shopping online, @Nielsen @FMI predict 70% will buy food online in 2025

Digital will transform food shopping online, @Nielsen @FMI predict 70% will buy food online in 2025 | WHY IT MATTERS: Digital Transformation | Scoop.it

FMI and Nielsen Company have partnered on the Digitally Engaged Food Shopper, a strategic engagement surrounding the forces and factors of change driven by digital technologies for both today’s and tomorrow’s food shopper. This multi-year initiative will reveal top trends in digitally enabled food shopping for both retailers and manufacturers to consider in their “connected commerce” strategies and capability investments. The exploration with Nielsen will ultimately inform food retailers and their trading partners how to craft a digital strategy; execute a plan; and appropriately resource it.

Farid Mheir's insight:

WHY IT MATTERS: FMI and Nielsen provide data to suggest that food grocery shopping online may reach disruption levels in 5-7 years. It is important because online grocery may be the last frontier of digital transformation. What we started in 1996 is finally showing signs of strong growth. We're almost there!

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US E-Commerce Trends and the Impact on Logistics

US E-Commerce Trends and the Impact on Logistics | WHY IT MATTERS: Digital Transformation | Scoop.it

The growth of last-mile delivery and demand for next- and same-day service is pushing logistics beyond traditional hub and spoke models to regional options, crowdsourcing, digital, and smart automation.

Farid Mheir's insight:

WHY IT MATTERS: delivery models are plenty and need to be expanded to reduce the cost of eCommerce deliveries.

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How customer demands are reshaping last-mile delivery via @McKinsey

How customer demands are reshaping last-mile delivery via @McKinsey | WHY IT MATTERS: Digital Transformation | Scoop.it

The last mile is seeing disruption from new business models that address customer demand for ever-faster delivery, as well as new technologies such as drones and autonomous ground vehicles.

Farid Mheir's insight:

WHY IT MATTERS: delivery is the last problem to solve to continue ecommerce growth. McKinsey explores the different delivery models for the last mile in this article.

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The State of Online Grocery in France & U.S. via @KantarWorldpanel

The State of Online Grocery in France & U.S. via @KantarWorldpanel | WHY IT MATTERS: Digital Transformation | Scoop.it

The State of Online Grocery in the U.S.

Farid Mheir's insight:

WHY IT MATTERS: good to compare France and US online grocery retail to show how much behind we are in north America...

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Groceries Trail Other Categories in Transition to Online @Statista

Groceries Trail Other Categories in Transition to Online @Statista | WHY IT MATTERS: Digital Transformation | Scoop.it

This chart shows the online share of total sales in the United States, by category.

Farid Mheir's insight:

WHY IT MATTERS: always good to know that store retail remains the largest solution by far in all categories but that growth at 15% or 25% means ecommerce doubles every 4-5 years.

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6 #E-commerce companies Reinventing Brick-and-Mortar #Retail and prevent armageddon by changing the store experience via @cbinsights

6 #E-commerce companies Reinventing Brick-and-Mortar #Retail and prevent armageddon by changing the store experience via @cbinsights | WHY IT MATTERS: Digital Transformation | Scoop.it

In today's "digital age," the dominant narrative is that e-commerce has fully eclipsed physical retail. The truth looks a bit different.

Farid Mheir's insight:

WHY IT MATTERS: this article reviews of the 6 companies are changing the in store experience to deliver true omni-channel.

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The basics of a Funnel Marketing System are pretty simple but require many #digital #tools and #technologies to be combined to deliver metrics that have value via @funnel_io

The basics of a Funnel Marketing System are pretty simple but require many #digital #tools and #technologies to be combined to deliver metrics that have value via @funnel_io | WHY IT MATTERS: Digital Transformation | Scoop.it

What would the impact be on your business if you could improve the effectiveness of your advertising by 25%? This document outlines the different parts of a good advertising setup and provides advice on best practices.

Farid Mheir's insight:

WHY IT MATTERS: few marketing units measure the success of their advertising campaigns. This article describes what it takes to do so.

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EHI Retail Institute Top #Omnichannel Shops in Germany shows that there is much room to improve for both large and small  #Retail #ecommerce

EHI Retail Institute Top #Omnichannel Shops in Germany shows that there is much room to improve for both large and small  #Retail #ecommerce | WHY IT MATTERS: Digital Transformation | Scoop.it

Aperçu des boutiques cross et omnicanal parmi les 1 000 boutiques en ligne les plus vendues en Allemagne avec au moins 10 emplacements fixes.

Farid Mheir's insight:

WHY IT MATTERS: this german institute reports on omni-channel support in retail which visually shows that few retailers embrace omni-channel fully at this time. Would be interesting to see the same elsewhere to compare.

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Gartner Magic Quadrant for Digital Commerce reviews 18 #digital #commerce platforms #eCommerce #technology

Gartner Magic Quadrant for Digital Commerce reviews 18 #digital #commerce platforms #eCommerce #technology | WHY IT MATTERS: Digital Transformation | Scoop.it
The digital commerce platform market continues to grow steadily. Gartner forecasts digital commerce platform revenue to reach CAGR of 15.5% through 2022. The Gartner digital commerce team has seen continued growth in the number of digital commerce platform inquiries.
We recently conducted a Gartner Research Circle survey composed of members whose organizations use digital commerce platforms (see the Evidence section for details). Organizations in manufacturing and natural resources represented the highest number of participants (26%), followed by retail, services, banking, insurance and government, which collectively represented 43%. The survey revealed the following take-aways:
  • Of participating members, an average of one-quarter of total revenue comes through digital commerce channels.
  • Note: Most participants work in organizations that sell to both B2B and B2C audiences.
  • Improving customer satisfaction, innovation/transformation of the business, and reducing costs via automation of sales processes and customer self-service buying were cited as key reasons for embracing digital commerce.
  • Delivering the desired customer experience was cited as the most critical challenge for digital commerce. Consistency in serving customers across all sales channels and justifying IT spending based on current ROI were also highlighted as key barriers.
  • A majority (63%) considered digital commerce as a critical and natural progression to a digital business strategy.
Farid Mheir's insight:

WHY IT MATTERS: always good to use when you need to know where the market is going on eCommerce. Love the analysis. Always take the vendors and their position with a grain of salt.

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New study on #retail commerce trends in #Quebec released by #UQAM university shows local shopping online is top of mind for consumers, yet not well addressed by local retailers

New study on #retail commerce trends in #Quebec released by #UQAM university shows local shopping online is top of mind for consumers, yet not well addressed by local retailers | WHY IT MATTERS: Digital Transformation | Scoop.it

Afin de mieux connaitre les comportements et opinions des consommateurs québécois dans le secteur du commerce de détail, le GreenUXlab – Laboratoire FCI de recherche en nouvelles expériences utilisateurs et en écoresponsabilité de l’ESG UQAM – et MBA Recherche lancent une étude annuelle. La première édition de ce baromètre, qui constitue un panorama du marché sur l’appropriation de tendances de consommation en commerce de détail, mesure en particulier l’importance accordée, l’utilisation actuelle, l’attitude perçue et l’utilisation future de 10 tendances (et leurs sous-tendances) : digitalisation des points de vente, omnicanal, livraison pour les commandes,réduction de l’attente en caisse, magasin éphémère, économie collaborative, économie de seconde main, achat local, mieux manger, vrac.

Farid Mheir's insight:

WHY IT MATTERS: online shopping penetration is growing and now accounts anywhere from 10% to 50% of sales. However this study shows that consumers have a hard time finding local retailers and local products. I assume this is because the market attention is captured by very large providers - Amazon, Google, EBay, Alibaba, Walmart - leaving the corner retail store with a dilema: how to let shoppers know they exist. This is a problem that needs to be resolved. Or a business opportunity?

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A twist on the people+process+technology: digital transformation requires culture+strategy+technology

A twist on the people+process+technology: digital transformation requires culture+strategy+technology | WHY IT MATTERS: Digital Transformation | Scoop.it

Many of the companies I work with are undergoing some form of a “Digital Transformation” to ensure they stay competitive and relevant into the future. These big, transformational changes are very hard and require far more than an investment in new technologies. They require a clear and solid strategy for how technology can be used to transform the business and provide better customer experiences, a culture that embraces change and collaborates heavily, and the technology capabilities to execute the strategy quickly and efficiently. Otherwise, these digital transformation initiatives will end up just like the failed ERP projects of the past we’ve all heard about or been a part of.

Farid Mheir's insight:

WHY IT MATTERS: a reminder that digital transformation is not only about technology...

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How Chinese tech giants like Alibaba are bringing AI to neighborhood corner stores - ensuring they remain supplier of choice for the long term

How Chinese tech giants like Alibaba are bringing AI to neighborhood corner stores - ensuring they remain supplier of choice for the long term | WHY IT MATTERS: Digital Transformation | Scoop.it

The future of retail is playing out in China's mom-and-pop shops. Alibaba says that over the last year, it has redone about 1 million mom and pop shops like the Huangs' across China. It has done the same with about a hundred superstores. Big and small, these outlets buy all their goods through Alibaba's platform and pay using its affiliate Alipay app.

Farid Mheir's insight:

WHY IT MATTERS: chinese eCommerce giants are making sure there is no difference between on-line and in-store, paying to renovate stores with the latest hitech (AI, Big Data) and turning them into loyal customers. The future of retail is being defined in China.

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Online Shopping Gaining Traction in Canada - 2% of total sales growing to 5% in 2020 via @nielsen

Online Shopping Gaining Traction in Canada - 2% of total sales growing to 5% in 2020 via @nielsen | WHY IT MATTERS: Digital Transformation | Scoop.it

Today, online fast-moving consumer goods (FMCG) sales account for 2% of total FMCG sales, or $2.2 billion, in Canada. However, that number is expected to reach 5.3%, nearly $6 billion by 2020. On top of that, Nielsen estimates Canadian FMCG e-commerce sales to outpace brick and mortar store sales by a margin of seven to one.

Farid Mheir's insight:

WHY IT MATTERS: eCommerce is growing even in fast moving goods (as opposed to categories such as travel or electronics)

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Kleiner Perkins’ Mary Meeker Internet Trends at Code 2018 #mustRead #weekendRead #video #AI #eCommerce

Kleiner Perkins’ Mary Meeker Internet Trends at Code 2018 #mustRead #weekendRead #video #AI #eCommerce | WHY IT MATTERS: Digital Transformation | Scoop.it

"When you have rising monetization, rising growth and rising data collection, it drives a lot of regulatory scrutiny whether it’s related to data privacy, competition or safety in content."

Farid Mheir's insight:

WHY IT MATTERS: this is the annual presentation to level-set everyone on the Internet, mobile, ecommerce, cybersecurity, epayment, personalization, etc. She covers everything and shows that digital transformation is in full swing. Just WOW. Again.

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The State of Retailing Online 2018 says retail Armageddon may not be as bad as initially anticipated

The State of Retailing Online 2018 says retail Armageddon may not be as bad as initially anticipated | WHY IT MATTERS: Digital Transformation | Scoop.it

The annual study conducted by NRF and Forrester examines key digital commerce issues. 

 

Key findings from this year’s report include:

  • Net-net, stores are growing: More surveyed retailers say they will be opening stores in 2018 versus closing them. This outlook contrasts with claims that the physical retail world is being displaced by ecommerce and is therefore doomed.
  • Omnichannel remains a key store investment area: Efforts like in-store pickup and endless-aisle investments have been a recurring theme for digital retailers for years, and continue in 2018 as retailers recognize these initiatives are often multiyear endeavors.
  • Digital retail continues to be the bright spot it’s been for years: Retailers continue to experience success in their ecommerce businesses, which have been buoyed by strong mobile commerce performance and improvements in key metrics like conversion rates.
Farid Mheir's insight:

WHY IT MATTERS: the number of retail store is growing - so why are we talking of retail armageddon? This research provides some insight, as does this newsletter from Axios: the armageddon may be for shopping malls - with only 300 of the existing malls to survive in a few years...

https://www.axios.com/newsletters/axios-future-ca246c67-295d-411e-8802-e41f11e11512.html 

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How Amazon Plans To Use Whole Foods to Dominate the Retail Industry #amazon #grocery

How Amazon Plans To Use Whole Foods to Dominate the Retail Industry #amazon #grocery | WHY IT MATTERS: Digital Transformation | Scoop.it

But with the $13.7 billion acquisition, Amazon had bought itself a real shot at remaking the $800 billion U.S. grocery sector—the last frontier of e-commerce and a massive one at that. Some 20% of retail spending goes toward food, but only 2% of those sales take place on the Internet. “Grocery is the Wild West for online,” says Carrie Bienkowski, the chief marketing officer of online grocer Peapod. “The size of the prize is huge, and it’s growing.”

Farid Mheir's insight:

WHY IT MATTERS: the article is a great review of the reasons why Amazon acquisition of Whole Foods is essential and why grocery eCommerce is the final frontier for the online retailer. Very good recap fo the state of eCommerce today, and its remaining challenges and opportunities.

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From Farm To Finished Garment: #Blockchain Is Aiding This Fashion Collection With Transparency from sheep to ssweater

From Farm To Finished Garment: #Blockchain Is Aiding This Fashion Collection With Transparency from sheep to ssweater | WHY IT MATTERS: Digital Transformation | Scoop.it

Designer Martine Jarlgaard has launched a pilot initiative that uses the blockchain to enable both transparency and trust around her collections as part of this week's Copenhagen Fashion Summit. Each garment has a unique digital token, enabling Provenance to verify every step of its production and create a digital history of that information including location data, content and timestamps, all of which is presented to consumers via an interface they can access through their item’s QR code or NFC-enabled label (so that it works on both Apple and Android devices).

Farid Mheir's insight:

WHY IT MATTERS: real-life applications of blockchain for traceability in the retail industry are starting to appear. With a global push towards fair-trade and local sourcing of products, we can expect solutions like this to be part pf every product tag in the future.

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The 30 Elements of Consumer Value: A Hierarchy

The 30 Elements of Consumer Value: A Hierarchy | WHY IT MATTERS: Digital Transformation | Scoop.it

Measuring —and delivering— what consumers really want. 

We have identified 30 “elements of value”—fundamental attributes in their most essential and discrete forms. These elements fall into four categories: functional, emotional, life changing, and social impact. Some elements are more inwardly focused, primarily addressing consumers’ personal needs. For example, the life-changing element motivation is at the core of Fitbit’s exercise-tracking products. Others are outwardly focused, helping customers interact in or navigate the external world. The functional element organizes is central to The Container Store and Intuit’s TurboTax, because both help consumers deal with complexities in their world.

 

Farid Mheir's insight:

WHY IT MATTERS: I find these elements of value to be a very useful tool when crafting digital strategies in B2C organizations. See the full paper in HBR here.

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Fabienne Fayad's curator insight, April 12, 9:50 AM
An another way to see the pyramid of Maslow!

Curated by Farid Mheir
Digital technology consultant. Register to my free email newsletter: http://fmcs.digital/newsletter-signup/