Chris Baldwin, Chairman, President and CEO of NRF kicked off this year’s event with his insights and forecasts for Retail in 2020. Unfortunately, I missed his session due to a malfunction in the NRF ticketing system. Rest assured, I will update this article as soon as I can get my hands on a video from the session.
Opening keynote with Satya Nadella, CEO, Microsoft
Microsoft CEO Satya Nadella delivered a charismatic opening keynote. I have had the opportunity to see him live once before in Stockholm, and again here at NRF. He shared his thoughts on the future of retail and how technology will help the industry transform. Microsoft works closely with retailers all over the world to help them deliver on the promise of intelligent retail.
Next retail innovations will not come from tech, but from you as you build your own capability
The global retail sector is such a pivotal part of world economy that it accounts for 31% of the world’s GDP. Apart from the fact that it creates employment for billions of people, in 2015 retail turned in a whopping $22.6 trillion which rose to $28 trillion in 2019. Retail has displayed a steady grown steadily with an annual growth rate of about 3.8% since 2008. Supermarkets still remain largest provider of retail services (35%).
Omnichannel is expected to surpass supermarkets, it already represents about 23% of retail sales with plenty of room for further growth it is inevitable that at some point in the near future retailers will expect multiple touchpoints for their retail journey.
Satya Nadella is of the opinion that digitalization is already soaked into the economy, pointing out that 92 of the top 100 retailers use Microsoft Azure. Retailers need to abandon conventional means and increase the intensity of technology, this always leads to improved capability and reach. Since 75% of shopping begins online, he advices retailers to capitalize on consumer data to create effective digital marketing campaigns. With Azure retailers does not need to reinvent the wheel, but can use off the shelf solutions and focus on their core offerings – to build their own digital capability so to speak.
Learn all the time, keep your strategies up to date. The retail world is fast paced and strategies are always evolving. Staying current gives your customers the confidence to be associated with your brand. Researching new market trends and strategies must be a vital part of every retailer’s process. All data from all systems should be utilized for personalization, and market data should be processed to meet the brands goals and identity, this sets retailers apart from others.
Customer expectations are constantly increasing, terms like “two days shipping” are now common. Partnering with suppliers can significantly shorten supply routes and spread retailers reach. The result is swift and monitored shipping. Offer customers quality service, swift shipping, personal connection and going the extra mile for their satisfaction. This makes customers expect the best and associate your brand with premium service.
Prioritizing customer satisfaction is the best way to create a loyal customer base. A recommendation from a satisfied customer is one of the strongest forms of marketing, all employees must be constantly aware of this. Satya wants to break down silos and empower employees with the right tools and the capability to communicate across departments.
A new era of transformation at Sam’s Club
Committed to fast-paced modernization efforts, Sam’s Club has gone big on digital and empowered a rising generation of tech-savvy associates who are helping the business grow. Apparently, the Sam Club is now looking to revolutionise the future of retail service. How much have they been able to achieve? Are the changes extensive to the whole world? Also, how would these changes effect the retail giants, small retailers and all of their consumers? Hear noted author and MIT professor Zeynep Ton and Sam’s Club CEO John Furner explore the current retail landscape when it comes to work and employee opportunity. Zeynep and John will discuss how work is changing and what retailers like Sam’s Club are doing to be great employers.
The impact retail has on employment can not be overemphasized, apart from creating over a billion jobs it also provides favourable work conditions and a diversity in roles. Two key features of employment in the retail industry are fair wages and stability.
Experienced and capable employees are crucial elements in the success of any retail service, having specialist employees for predefined roles (e.g sales, customer service, etc) instead of generalists produces better results.
Having a team that shares the brand’s vision is essential. This gives e-commerce brands a sense of identity and purpose which portrays them as a single working unit. Empowering employees to put the customers first can lead to a 15% increase in conversion rates and a 10% increase in customer satisfaction.
Winning the experience economy: How to raise the bar in a world of raised expectations
With consumers expecting increasingly seamless shopping experiences, who is meeting consumers where they are, instore, online or in-home? How does all of the data collected from consumers explain their experience? It’s important to note that we now live in an experience economy where the consumer’s experience is vital to brands around the world. A lot of data is gotten from human living and interaction; reaching about 2.5 billion gigabytes every day. So, how can all of the raw data be used to improve consumer experience? The experience economy isn’t a new concept and the big brands around the world make use of it to satisfy the ever-increasing demand of their consumers. Let’s learn from the top experts. In consecutive interviews, hear from three CEOs who are setting the vision and raising the bar by meeting “me-commerce” demands in a world of always on-demand.
Neela Montgomery believes Social Media is the new capital of advertising for obvious reasons – people spend more time on it than on TV or print. 51% of sales online, although sales still need to go frictionless across channels.
Targeting with products that matters to the customer. Use market data to specifically target customers who have shown an interest in certain products. Sometimes customers do not actually know what they seek, exciting product combinations are an interesting way to inspire sales. She also believes Brokering symbiotic partnerships with other brands leads to more success than unhealthy competition and rivalry.
Neela also maintains that stores are invaluable as physical connection points with the custome and having a solid brand DNA and staying true to it is vital.
Jennifer Hyman, CEO Rest the Runway spoke on ownership replaced by access, faster fashion, customer insight from the beginning and short feedback loop.
Ron Johnson, Enjoy Inc. focuses on having an eye for future trends and being open to change keeps your brand relevant, you should be a decade ahead in innovations. He also maintains that having a dedicated customer service team to provide rapid feedback leads to customer satisfaction. 50% of all visits to his company generated additional sales.
All in all a very fruitful first day of NRF and I look forward to two more days of exciting insights.
Many of my colleagues and friends ask me why I celebrate Christmas while being an atheist. In the Nordic, we actually do not call the holidays Christmas, we call it Jul or Yule. Yule or Yuletide (“Yule time” or “Yule season”) is a festival historically observed by the Germanic people. Scholars have connected the original celebrations of Yule to the Wild Hunt, the god Odin, and the pagan Anglo-Saxon Mōdraniht.
Later departing from its pagan roots, Yule underwent Christianised reformulation, resulting in the term Christmastide. Many present-day Christmas customs and traditions such as the Yule log, Yule goat, Yule boar, Yule singing, and others stem from pagan Yule traditions. Terms with an etymological equivalent to Yule are still used in Nordic countries and Estonia to describe Christmas and other festivals occurring during the winter holiday season.
Unlike Britain, the main Norwegian Christmas celebration takes place with a big Christmas dinner on 24th December, Christmas Eve. The choice of food varies depending on the area of Norway you are from, but often consists stock fish or fermented cod. However, the clear favorite, eaten by as many as six out of ten households, is ‘Ribbe’ – roast pork belly. In Sunnmøre, where I live, we eat Pinnekjøtt. Salty. Rich. Chewy & tender ribs of lamb.
The Holidays is about spending time with family and friends. It’s about creating happy memories that will last a lifetime.
The magical feeling that surrounds the Holidays is one that can’t be replicated at any other time of the year. It connects us regardless of our roots and beliefs in a spirit of thankfulness, love, joy and comradeship.
Joy and sharing is a pivotal theme of the Holidays and we all have different ways of expressing these values as a result of our backgrounds and cultures. For some, the act of exchanging gifts is their way of expressing love and compassion this season, for others it’s just about taking a break from the rigors of corporate life and spending quality time with family and friends.
It has been a very busy year for me and my family. My girlfriend Therese took up a university education within finance and accounting, Sondre is in his pre-university study, Andreas has left the army and will start working in carpentry and Alexander is studying for his electrical degree. Now we will relax and enjoy each others company for the next few weeks, before we kick off the next year!
Happy Holidays and all the best to you in the year to come!
After working in Sweden for 5-6 years I took the train from Gothenburg to Stockholm for the first time to attend a workshop on Customer Experience and Customer Journey Mapping. Since commuting across the country was a new experience for me, I chose to be 30min early for the train only to find the doors of the coach locked. Standing outside freezing, I took the time to find my ticket. I had received an SMS with my details a few days earlier, but to my surprise it said: “This is not your ticket”. So my customer experience with SJ prior to arriving at the Customer Experience and Customer Journey Mapping workshop wasn’t really a superb one.
While puffing and rumbling through the Swedish countryside, I had some time to prepare for the days to come. As a Product Owner it is of course imperative for me to understand everything about our product to deliver impeccable features and functionality to our customer. However in a complex market the complete customer journey has become more important the recent years and my expectations for the next two days was to gain insights of processes and tools on how to improve my work on Customer Experience and the full Customer Journey when purchasing our services.
The workshop kicked off with an introduction of the participants and their roles, following a thorough explanation of what Customer Experience and Customer Journey Mapping is. The workshop was divided into six parts, all aiming to make content customers and employees: Strategy, Insights, Design, Measurement, Management and Culture.
The way to interact with customers and the focus on customer experience has significantly changed during the last 100 years. Back in 1913 when Woodrow Wilson was president, and USA went through the Progressive Era the focus was mostly on the product itself. However in the 1950’s the focus moved more towards the american dream and a very strong brand focus and transitioning into stronger customer relations through the 1970’s and 1980’s.
The focus on Customer Experience as we know is today started for real around the millennium, where new technology became available to both understand and interact with the customer. Also the consumers matured and expected more than just a product, introducing terminology like retailtainment and entertainmerce.
At its core, Customer Journey Mapping is a methodology that enable insight and understanding of customer’s with the aim of developing products or services that support innovation and business development through earning the satisfaction and loyalty of your customers. In a nutshell, I would call it a form of result oriented customer service.
The workshop was tailored to serve a wide range of people, specifically people responsible for customer experience, others were business managers, business developers, support and customer service managers, marketing managers and marketers, strategists, and product owners. Learning about Customer Experience together availed is the opportunity to create connections and offer each other insights relating to our various fields.
Customer Experience Management is a strategy, methodology and process to manage a customers exposure, interaction and transaction with a corporation, a product/service and a brand. The discipline that is about developing service and business models that prioritize the customer in all of the company’s business processes, thus creating favorable conditions for growth. One of the fundamental aspects of CX is taking time to understanding the customer’s experience and contact points with your company. It involves careful documentation and recording of all forms of contact between a customer and the company to the extent that at a glance the customer’s journey can be visualized and understood easily; A Customer Journey Map if you will, which is a documentation/mapping of all the customer’s contacts with you as a company.
During the course of the two-day workshop on learning about Customer Experience, we created a Customer Journey Map for a fictitious company and integrated the results into our respective businesses. We started off by understanding Customer Experience as a business discipline and it’s concepts, what makes up a customer experience and how to understand it. We then proceeded to Customer Journey Mapping, creates models with the aid of working methods, practical steps and guidance. A large part of the workshop was focused on “learning by doing”.
We moved onto Persona and Empathy mapping, gathering customer insights, customer needs and behavior, contact points and channels. This part was more about how to appropriately gauge a customer’s response and feelings when they make contact with our business. We were also taught how to effectively record these to facilitate these to facilitate business growth modeling. Happy customer = better business!
Our knowledge on the workshop was then put to the test by presenting us with practical exercises on creating Customer Journey Map and how to measure the progress of our services linked to Customer Journey Mapping.
The final part of the learning curve was the most delicate: Business development and business management with CX and how you can introduce change to our business specifically. We were made to understand that without actual measurable growth, the aim of the workshop would not be met. So in essence, all CX and Customer Journey Mapping should lead to measurable growth.
Attending the two day workshop armed me with a lot of new skills in dealing with customers and I learnt basic understanding of Customers and experience as a business discipline. What I consider to be the most vital lesson learnt is understanding how an empathetic approach to customers can create an atmosphere that encourages sustainability and profitability in business for your company.
With all these exciting business models, I’m quite ready and anticipate implementing Customer Experience work plan!
What better way to start the week than crunching and visualizing data. I joined the Dashboard in a Day workshop by Microsoft and Random Forest, a one day hands-on workshop designed for business analysts.
I have to say that I really enjoy digging into new tools and learning about new technology. Even if I am probably not going to be working directly with PowerBI, it makes my job easier by understanding what is possible and the boundaries of the tool.
Kicking off with a short introduction (and the mandatory Microsoft advertisements), we dove straight into the PowerBI Desktop application itself, learning how to connect to, import and transform data from various sources. After preparing the data, reformatting and splitting fields, we moved on to exploring data with powerful visualization tools.
The exercises were quite comprehensive, and at some point I went rough and chose to implement some of my own visualizations instead.
The event was well organized and planned, the assets were categorized in a way that made it easier to identify the specific assets that suited our needs. The attendee content consisted of Lab Manuals and Datasets that were available for download on MPN without requirement for an MPN ID.
Towards the end of the day the guys from Random Forest ensured that we had a good working knowledge and familiarity with Power BI and possessed the ability to answer questions concerning the workshop or Power BI in general. It was a tremendous learning experience and I couldn’t wait to try out those awesome new technologies! They even spent the last couple of hours of the day to support and guide us through our own datasets. I brought some statistics from one of our Business Units, and it was quite impressive how I could visualize and interactively navigate through the data.
All in all an exciting workshop, and I look forward to playing more with PowerBI in the future. If you have any questions or great ideas, feel free to contact me at email@example.com 🙂
Let’s face it, nobody wants to be labeled as the savage who’s ruining the earth. One of the impacts of environmentalists is that they have successfully managed to make people feel that being environmentally conscious is the new cool. A similar scenario is is playing out in the cosmetics industry, there has been a big influx towards natural products. Tech and industrial giants have obviously noticed this change and adapted to make themselves to being more environment friendly. It’s almost impossible to ignore the fact that retail is shifting towards sustainability.
What is interesting with sustainability is that it pretty much involves all parts of your life, thus all parts of the retail business. This includes production, logistics, operations to employees consciousness. Since I work mostly with store operations, I In this post I would like to focus on eco-friendly technology and how this can be implemented in the retail industry.
This brings us to the question, what is eco-friendly technology? Also known as clean tech, green tech and environmental tech, eco-friendly technology can help preserve the environment through energy efficiency and reduction of harmful waste. Green tech innovators use the latest environmental science and green chemistry to reduce the harmful impact of human activity on the earth.
Green technology is still in its beginnings, but lots of interesting innovations have been executed in fields like renewable energy, water purification and waste management, as well as in everyday consumer products like electronics and vehicles. It can be as minute as a hand-held gadget or as immense as a new method of filtering greenhouse gases from the atmosphere.
Eco-friendly technology often involves Recycled, recyclable and/or biodegradable content, plant-based materials, reduction of polluting substances, reduction of greenhouse gas emissions, renewable energy, energy-efficiency, Multi-functionality and Low-impact manufacturing.
Innovations in the field of green technology have included highly efficient LED lights, which could be used to make countless other gadgets more environmentally friendly, as well as promising growth in lesser-known renewable energies like algae oil. Companies such as Dell and Google are taking steps forward with eco-friendly technology in projects ranging from plant-based packaging to vast wind farms.
Eco-friendly technology innovations such as these will continue have a huge impact on tech, especially when implemented by companies with vast consumer base.
Eco-friendly technologies to join the fight against climate change include:
Direct to the Plumbing Rainwater Tanks
The water supply that reaches most businesses may be steady, safe, and clean. The energy used in the processing and distribution phases also comes from fossil fuels and other less-than-ideal sources, and therefore, not exactly eco-friendly. Harvested rainwater directed to a rainwater tank by means of a catchment area and a number of pipes. Since rain, in itself, is clean, it should not take much to purify it. Many of the filters you need in your system do not require energy to run, so it’s safe to say that with a rainwater harvesting system, you get water that’s safe to use without all the wasted energy.
Greywater Recycling Technology
These are best set up together with a rainwater harvesting system, allows one to reuse water that was just used for something else. The water that can be reused by this type of system can be rain or mains.
Solar and Wind Harvesting Technologies
The fact that Earth Hour participants are required to switch off all their home appliances and lights for one hour is proof that the electrical power we use comes from sources harmful to the environment. It is wonderful that a number of multinational companies have made, or are transitioning, to solar and wind harvesting tech. After all, solar power and wind are renewable and clean sources of energy.
LED and CFL Lighting
LED and CFL bulbs are better than older bulbs in three ways. They are brighter, require lesser energy to function, and last longer. There is absolutely no good reason to not use them.
While not exactly new technology, just like the above, many companies are still struggling with making the switch to this type of plastic. This is despite the fact that it’s a lot safer for the environment since it does break down in time.
Let us all stop closing our eyes to the effects of climate change on us and our future and join this young girl in making the world a better and safer place for all the life around us. If you don’t believe you can make big changes to your life style, start with little things like taking your own shopping bag to the mall.
So why do we see this intense focus on the environment now? The answer is probably complex, but we cannot underestimate the celebrities and influencers putting the science into layman’s terms. Let’s face it, nobody wants to be labeled as the savage who’s ruining the earth.
Environmentalist Greta Thunberg is a major trendsetter who, at age 15, began protesting in front of the Swedish parliament about the need for speedy action to combat climate change. Her “school strike for the climate” began garnering media attention and she has since become an outspoken climate activist.
In the last year, she has become a worldwide phenomenon of the climate change movement. Promoting #fridaysforfuture alongside millions of children across the globe to demand politicians, governments and corporations make positive moves regarding climate change.
Greta has received many prizes and awards for her strides in the improvement of the environment. In 2019, three members of the Norwegian parliament nominated Thunberg for the Nobel Peace Prize. And in May 2019, at the age of 16, she was featured on the cover of Time magazine.
At a TEDx speech in November 2018, Thunberg said that she first heard about climate change at the age of eight, but could not understand why so little was being done about it. At age 11, she developed depression and stopped talking. Later she was diagnosed with Asperger syndrome, obsessive–compulsive disorder (OCD), and selective mutism. She added that selective mutism means that she was speaking only when she needed to and that “now is one of those moments. She said, “I feel like I am dying inside if I don’t protest”.
To lower her family’s carbon footprint, Greta insisted on becoming vegan and give up flying. She said she persuaded her parents to give up eating meat by making them feel guilty. “I kept telling them that they were stealing our future.” Thunberg says her teachers are divided in their views about her missing class to make her protest. She muses: “As people they think what I am doing is good, but as teachers they say I should stop.” She was also quoted saying, “Sometimes the world makes so little sense that the only thing to do is engage in civil disobedience—even in a country as attached to its rules and regulations as Sweden is”.
Siv Skard, Associate Professor at Kristiania University College researches consumer behavior. She highlights that people are always concerned about how others look at them and judge them. This is a great point that can be taken advantage of from a business perspective.
People are self-centered and if they notice that they are being watched, you can promote concepts like ‘go green’ or ‘go healthy’ which people tend to buy.
So, we might move into a greener future for the wrong reasons, but most important is that we are on the right path!
If you are interested in hearing more about the future of retail operations, feel free to contact me at firstname.lastname@example.org 🙂
Luxury brands like Louis Vuitton and Gucci are everything a shopaholic would want. These brands have been classified as the cream of brands that have kept them as the most wanted items. Thus, with the most durable materials and elegant designs, it is hard to resist them.
However, as prices are exorbitant, fake products similar to these brands have begun to exist. These duplicates have been created with so much similarity that it becomes very hard to draw a line between the original and fake. Therefore, the notion of Blockchains became the best solution to tackle this problem at hand.
Fake products and its’ impact on the originals
As mentioned in my previous article, most of these luxury products are hard to afford for a vast majority of people. These products have been aimed at the high-class society who can afford them.
However, the rationale behind this high price is that these brands focus on customer satisfaction, experience and are very committed to each product that is released. The quality of products is always top-notch which is why the price is a bit steep.
Due to this pressing factor, many duplicates have been created so that others can buy these products as well. In many Asian countries like India, streets are filled with fake and original products that even consumers are not able to distinguish them.
In fact, the duplicates come in various categories often sold as original for higher prices but affordable than the originals. Statistics reveal that counterfeit markets earn up to $450 million a year.
As discussed in my previous article, the issue is that since these products are given at a lower cost, they tend to be of low quality. This, in turn, ruins the reputation of the original that negatively impacts the brands. Therefore, due to this rising concern, customers and business partners as well lose the trust that they have of these luxury brands and end up demanding for refunds or exchanges.
The worst-case scenario is when they completely stop using the products and give negative reviews that tarnish the image of the brands.
On the other hand, these luxury brands fail to create more unique designs and neglect to think of the betterment of them. Rather, they end up spending time and money solving these quandaries that are a nuisance to them.
Blockchain Technology as a solution
The Blockchain technology is designed to bring in more transparency to products which proves the authenticity which is what the customers now look for. The one factor that consumers now look for is the sustainability of products along with authenticity.
This is due to the increased vulnerability of paying more and getting their hands on fake products. Consumers are even willing to pay more if the goods are more durable which was revealed in the 2015 Nelson Global Sustainability report. Thus, thanks to Blockchain, it shields these brands from the eyes of fake producers.
One of the blockchain technologies that is worthy to discuss is Curate. It is a decentralized app that gives digital tokens when scanned gives the history and origin of the product. This is vital because most of these luxury brands have set high prices because they do not compromise on quality which fake producers do.
Brands like Gucci and Zara have begun using this for the benefit of the consumers. Therefore, customers are protected from being exposed to fake producers or buying duplicate products.
This Curate project uses a remote frequency identification system that uses RFID smart tags which assures the authenticity and genuineness of the products. You can scan codes and even see the history of garments or fabrics.
Another plus point is that it rewards consumers with crypto currencies when they contribute to the platform. You can give positive votes and reviews so that it increases the credibility of the brands and this reward system ensures that the platform is a transparent community not plagued with counterfeits.
This, in turn, increases sales as well since it portrays the genuineness of products particularly of luxury brands like Louis Vitton which always tends to fall into the hands of fake producers.
Louis Vuitton’s AURA
Another concept that was introduced by the owner of Louis Vuitton is the Aura which is built using Quorum. It is an Ethereum blockchain and began on June 2019. This was created to track and authenticate luxury goods. This platform will initially be used by Dior and the luxury handbag brand Louis Vuitton. It will then be open to 60 other luxury brands as well. It is a private blockchain that was developed by JP Morgan and aims to enhance privacy.
Through this platform, customers can see information about the products and the materials used. In this way, users will know the genuineness of the products and its originality will not be an issue. You can even trace the origin from the raw materials until the point of sale and it also protects from fraudulent ads. It is, in fact, the best way to enhance brand authentication.
However there is no specific app for Aura, but it will do its’ job veiled behind the app of the luxury brands. In a market filled with counterfeited products, Aura is a vital tool to ensure the credibility of original products.
The blockchain technology is a great approach for tracking the genuine product and handling counterfeit markets like India and China who have a history of creating fake products that are very much similar to the original brands. Therefore, Blockchain technology is the remedy to the woes of luxury brands and with this technology, one can feel very confident about the future of luxury brands and its’ reputation untouched by fake producers.
If you are interested in hearing more about the future of retail and bloackchain, feel free to contact me at email@example.com 🙂
I had the opportunity to attend the Norwegian Trade Conference in Oslo 24th September featuring some of the most interesting retailers in Norway, and even a couple of international speakers. The focus for this years conference was BOPIS + BORIS = True, but some of the keynotes also focused on traditional retail and omnichannel.
Trade is never a dying concept but rather a constantly changing industry. This rapid change and advancement bought in two e-commerce acronyms to the market. This is none other than BOPIS which is abbreviated for buy online and pick up in-store facility and BORIS which is bought online and return in-store. So what does this give your business? How does it support customers to have a better shopping experience? These are the questions we intend to answer by the end of this article.
These new purchasing behaviors have widened the scope of shopping gives more flexibility and convenience to your business. Let’s dig in deeper and see what advantages these new Omni channels provide you with.
From apocalypse to renaissance?
Trade would never reach an apocalypse. Rather, it gives new beginnings just like the renaissance. So, it can be related to it as well. There is one question that many have in mind when it comes to engaging consumers and maintaining relationships with them further with regards to trade and business. Is trade all about customer experience or it solely based on price?
Recent statistics that mainly focused on Norwegians show that Norwegian shoppers who shopped in physical brick and mortar stores in Norway increased by 16% from 2012-2018 and those who shopped abroad in physical stores increase by 76% in the same time frame.
On the other hand, Norwegian shoppers who purchased from Norwegian online stores increased by 101% and purchasing from international stores increased by 146% from 2012-2018.
It also revealed that 50% of consumers preferred physical stores whereas 20% preferred online stores. However, 30% did not really have a particular preference.
Therefore, these facts show that customer service is not just a department or a small fraction in the trade industry. It plays a bigger role as the main purpose is to build a loyal member and focus every aspect of keeping the customer in the center. Simply said, the customer is the boss! Not to forget while the store is 50%, delivery is equally important and takes about another 50% nowadays.
From apocalypse to relevance
Peterson was the speaker of the year during “The Big Show” in New York in January and has about 30 years of experience as a retailer, strategist, and speaker. His innovative approaches to modern retail and strong expertise in cultural trends are his specialty.
It was pointed out that retail closures were more than openings in the USA and the sole reason was shoppers were looking for more facilities than just shopping. Whilst shopping, they looked for eating spots and food halls are a great technique. They also look into children’s play areas, fitness centers, green spaces to relax, farmers’ markets, places to buy household items and other facilities. For example, farmers’ markets have 3985 in 2014 to 9027 in 2019 as buying fresh fruits and vegetables has increased over the years and a consumer on average spends about $16 per visit.
Therefore, many shoppers looked for an all-in-one place to get all that they need. Therefore, incorporating this concept shows that shopping is not dead yet, but rather the way shopping is done must be changed. This is where BOPIS and BORIS become two famous traditions that are followed these days for customer convenience.
BOPIS and BORIS
Unlike earlier days, people are less patient and expect instant gratification. Thus, BOPIS is very useful for people who are stuck in workplaces or traffic and do not really have the time to choose items in shops. Through this, they get the option of choosing the goods they need online and picking it up on the store. This saves time for people with busy schedules to smoothen their shopping. On the other hand, when customers pick their goods, 75% of them also purchase additional items while in-store.
Looking at the near future, the use of technology will be more heavily incorporated into shopping. For example, having 3-D views of products and being able to visually shop their stores and getting it delivered.
This is another option where you could buy online and get it delivered. However, if you want to exchange or return to a physical store, you can do so. So the hassle of return shopping is eliminated and is a convenient service. The benefit of it is that when customers visit the store to return goods, there is a high chance that they might exchange or even buy additional goods.
But these innovations won’t mean it is the end of shopping centers because having physical stores gives delight to people which virtual stores cannot give. People like to touch, feel or smell which online stores cannot give because those sensations can induce spontaneous purchases.
The line between physical stores and online stores will get thinner and thinner day by day and a new concept will come known as a physical store which will create a fluid web-to-store system with a smooth customer experience. Therefore, many different methods will be used with different approaches to reach different audiences.
How to create total seamlessness between the web and the store?
As Hauk Landsverk, Digital Director of Elkjøp expressed, to create a seamless integration between web and physical store is through these omnichannel approaches like BOPIS and BORIS to create a link between physical stores and mobile, telephone or computer devices. Through these, customers will enjoy the benefits of technology which will simultaneously cater to their needs as well. It will be customer-centric rather than product-centric where it is based on the customer’s journey and experience which is a fundamental factor.
It speeds off the web
Siv Heleen Grødem, entrepreneur and owner of the Suser i Sivet highlights certain strategies to enhance the shopping experience such as instead of selling individual clothes, you sell a full costume. Apart from that other factors like social media promotions by stores, online presence and personal services like cash on delivery are a few aspects that also enhance the shopping experience.
Suser i Sivet also won the prestigeous award for retailer of the year: “The winner is the result of hard and planned work over many years, a willingness to invest and dare to try out new things and excellent marketing in social media. The result is a modern, forward-thinking business that masters the demanding art of combining online sales and physical store in an excellent way.”
Different industries, same customer – how to meet future customer needs
Ingjerd Blekeli Spiten, Executive Vice President of PersonMarked highlights modern payment options like mobile banking and paying online as new developments that make purchasing more easier and convenient. Most banks and online payment gateways are trustworthy and reliable where almost 90% of people trust their banks and 20% of the people trust global payment systems like PayPal. There are few others as well that rely on social media payments, IT companies or mobile companies.
Keeping up with the consumers – how Zalando aims to become the starting point for fashion
David Hejgaard, Regional Lead Nordics of Zalando reflects on Moore’s law stating evolution is much faster than ever where customers tend to shop anywhere at any time of the day. Most physical stores have partnered with virtual stores where people can choose the color and size of what they need. If this is available in the virtual warehouse, they can purchase it.
How to prepare for a different future?
Truls Fjeldstad, Director of marketing and business intelligence at NorgesGruppen is a charismatic guy who mainly focuses on sustainability. He believes that classical stores where you pick and pay will continue to exist and never halt. Thus, to prepare for this, new features and services must be introduced to support the traditional brick and mortar stores. These include personal assistants, IoT, automation, and delivery as well.
How to leverage customer data and not just collect it?
Anton Nytorp, Head of CoopX at Coop Norway is a firm believer in heat mapping. This is a great technique to understand customer’s purchasing behaviors in the store. These analytics show actions and what your customers usually like. It is a good way to record data in a way that can be interpreted rather than just merely collecting it.
Furthermore, placing similar products of different vendors is another great technique so consumers have many options to choose from if they don’t like a particular product type or brand. This also shows and helps identify which products are more likely to be bought. Having an unmanned- store in Norway is also on the bucket list as it will show what customers actually want and not forced or induced to buy sales representatives.
Symbolic consumption and self-concept
Siv Skard, Associate Professor at Kristiania University College researches consumer behavior. She highlights that people are always concerned about how others look at them and judge them. This is a great point that can be taken advantage of from a business perspective. People are self-centered and if they notice that they are being watched, you can promote concepts like ‘go green’ or ‘go healthy’ which people tend to buy.
How to create results online from the first click?
Rune Kjeldsen, General Manager at “Hekta på Tur” began his first business at the age of 22 which was sold to a Dutch company. He then began an online store called Hekta Pa Tur which has steady and stable growth. Today it is a leading profitable store.
Thus the moral of the story is when the wind of change blows, you must build a windmill if you’re a winner because losers will build wind-shields instead.
The customer experience is what will differentiate you from the competitors in the future.
Always keep in mind that customer experience is far more important than having a good customer service system. Thus, to ensure smooth and efficient customer experience, it is necessary to indulge in profitable and sustainable business models inclusive of Omni channels like BOPIS and BORIS. These strategies are what gives customers a better overall experience.
Sveinung Jørgensen, Associate Professor at INN and Lars Jacob Tynes Pedersen, Associate Professor at NHH research on sustainable and profitable business models working closely with Norwegian and international companies. They have published a book together called ‘RESTART 7 Roads for Sustainable Business Models’. You can read more about them at www.JorgensenPedersen.no.
There are a few ways to enhance the customer experience. You can Redesign the business model and approach focusing on a customer-centric fashion model as it is important to see through the customer’s eyes.
Controlled experiments is another process of understanding customers and to see their issues beforehand. You can see the usability of the products, how well people can use and their overall experience and impression of the particular product or service.
Another method is Circular processes whichare usually adapted by product-oriented companies who have sought ways to give in a service and benefit from it. For example, you purchase a washing machine and pay in a cycle whereas the manufacturer will ensure that it works properly and service it when needed. Service logic is quite similar to a circular process and is relatively new which focuses on exchanging services than just goods.
Alliances are equally important to engage with your customers and communicate with them throughout their shopping journey. You can get information such as feedback, their experiences. Knowing these you can adapt means to ensure customer’s expectations are met. Another important aspect is Results that are obtained by different analysis will help you identify loopholes and fix any issues to enhance the overall customer experience. The three dimensions of customer experience are segregated into three elements. The first is a success where the customer is able to get what he/she requires and also see if the interaction was successful or not. An effort is analyzed to see how much effort the customer had to personally put to get a successful interaction. Lastly, emotion is whether the overall interaction left the customer delighted or disappointed.
The changeover process in the green shift
Anita Sørlundsengen, Retail Director and Øyvind Andreassen, Senior Region Manager at ST1 Norway highlights the importance of the green shift in the modern century. Gas stations have now transformed into energy stations with new concepts constantly developing. See how ST1 / Shell at retail director Anita Sørlundsengen and retailer Thommas Landsem have created the energy station of the future with special emphasis on good customer experiences.
From market leader to challenger
Lars Kristian Lindberg, CEO / Managing Director at Gresvig emphasized that Gresvig was in need of a change or an advancement from a strong national brand to a more profitable international brand. Ole Sauar, Founder and CEO of Jollyroom stated that social media and influencers are a great method to grow your business in an international platform. Also having playing zones is another key idea.
Also keep in mind that nordic countries who balance between socialism and capitalism have better economic efficiency and growth and thus, investors must carefully consider this aspect as well.
The key is to hit the emotional muscle
Sondre Gravir, CEO of the SATS group which is a leading fitness center chain in the Nordic region highlights that rather than focussing on getting in participants to the gym, the focus must be on getting the customer to the gym.
New business models
Emilie Stordalen, daughter of Peter Stordalen and part owner at Strawberry Group is a charismatic and down-to-earth personality. She currently works to develop and operate digital platforms. The specialty about her is that she focuses on individual people such as Amanda, who is young and modern to Anders, who is a bit aged and classical which gives a more personalized experience to customers.
Another strategy used is that they tend to use low-quality locations such as basement rooms and give high-quality experiences like LED walls where you feel like you have woken up in a rainforest. These minute details are very important to create a positive image about your services or goods to the customers.
The number of retail chain stores closing over the past few years has dramatically increased. Yet, as of 2019, large stores announced the closing of almost 7000 stores. This is comparatively more than 2018 where 5000 stores shut down. If this continues, it could be the retail apocalypse.
The sole reason behind this rapid closing of traditional stores is the rise of e-commerce outlets where traditional stores are no longer an attention- grabber. As mentioned in the previous article, online sellers like Amazon have made it really difficult for stores to withstand in this digital era.
Most of these stores have begun changing their sales strategies particularly focussing on digital marketing. Thus, they have now moved from brick and mortar stores to e-commerce sites. The trend these days is to do purchases online. This saves time and money for needing to visit stores. Buying products online is a more convenient method.
Apart from that, bankruptcy is another major concern because of private-equity firms like what happened to Toys R Us. Most of these private-equity companies are more likely to go bankrupt than public companies. Although these companies express that they can help to grow capital, they are silent about debt and leverage buyouts.
What happened to American Apparel?
American apparel was a major selling store since its launch in 1997. It faced a lot of sexual harassment and defamation issues costing the company $3 million as fines. In 2017, facing bankruptcy for the second time, they had to close most of their stores.
It was purchased by Gildan Activewear by the end of 2017 for $88 million. The major change is that sexual images are no longer there. The new American Apparel emphasizes more on materials and pricing to attract customers.
Toys R Us: the kids’ dream store
Toys R Us has been around for 70 years and was every child’s dream store. This company faced its doom when taken by a private equity firm in 2005. It faced an unsustainable debt and filed bankruptcy in 2017.
This decision was taken as suppliers pressurized and they liquidated remaining stores. They had to close almost 700 stores of theirs and sold the rest to Canada. Many say there might be a comeback but Toys R Us will be a fond memory for many.
Victoria’s Secret – A girl’s best friend
Parent company L Brands announced closing almost 53 Victoria’s Secret stores in 2019. They even did close 30 stores in 2018 due to bad sales. One reason was the controversial comments that the chief marketing officer spoke of transgender and plus size.
This incident outraged many and led to a reduction in sales. Apart from that, many people claim that the quality of products has dropped as well.
Abercrombie and Fitch – new toned-down version
Abercrombie and Fitch have planned to close almost 40 stores in the USA this year 2019. They have made plans to change their marketing strategies and be more sales-oriented. Getting rid of sexual ads was another point of focus.
They have also mentioned opening 3 flagship stores redesigning others as a part of the restructuring. Moreover, The change of infrastructure in which they have moved from dark tones to a more bright and light atmosphere is a key highlight.
GAP – shutting down rapidly
One of the most famous brands, GAP is closing doors of almost 700 stores worldwide. Its sister stores like the Banana Republic are struggling to survive as they are not performing well.
They are planning to split into two and have decided to change business models to increase profit. The Old Navy will go on a separate way. This is another marketing strategy as well to increase sales.
Payless- bankruptcy victim
A few years back, Payless went into bankruptcy for the second time. Now it is finally closing doors in 2019. They are planning to close almost 2300 stores within the USA. One reason was that the shoe store only has physical stores and with the increase in online sales, store sales have gone down.
On the other hand, Just like Toys R us, private equity buyouts are very hard to bear due to an extensive amount of debt. They also began liquidation sales which went until June 2019.
Michael Kors: Restructuring
Michael Kors closed almost 100 stores in 2017. This year they will be shutting 50 stores and have stated that there could be more. This is because of the low sales that the company encountered. It has also faced great difficulty to focus on average buyers being a luxury brand. However, they have partnered with Amazon and have moved to online sales which is a positive movement.
Claire’s – The Accessory Chest overcomes Bankruptcy
Claire’s is a very popular store for teens with an extensive amount of accessories. However, Claire’s also sought Chapter 11 protection due to bankruptcy. It, however, eliminated its debt of $1.9 million. They also underwent restructuring and eliminated about 2000 locations.
Gymboree – Children’s clothing
Gymboree was another victim of bankruptcy and sought for protection under chapter 11. It was another store that was dependant on brick and mortar. It faced a lot of loss in sales that made the company face debt. It has planned to close all Gymboree and Crazy 8 stores within the US and Canada which is about 900 stores in total.
J.C. Penny – 116-year-old outlet
J.C. Penny closed about 130 stores back in 2017 due to a dip in sales and has also decided to close 18 more stores. This Giant retailer was forced to close their shops because they have been losing a huge amount of money, due to a reduction in sales. At the moment, it is a broke company and stores are out of date. There are assumptions that they have been planning to open some toy shops at their brick and mortar stores.
The list of retail stores calling it quits can go on and on. It is almost like a global epidemic that infests to every retail chain and shuts it down. The list mentioned here is just a few of them. More and more companies are facing issues either due to bankruptcy or lack of sales because of online purchases. Yet, some stores like Gucci, Luis Vuitton and Claire’s have risen from this problem and have adapted new marketing strategies.
We are living in a new world, with new channels and if you want to know how to make your retail business ready for the future, please reach out to me: firstname.lastname@example.org
Working in IoT we sometimes need to handle large data streams of information, that might or might not be totally accurate. Streams might contain noise, inaccurate/unreal readings and other unwanted data.
Debouncing can be done on the hardware itself, or in software. Hardware debouncing can be done either using an S-R circuit or an R-C circuit. Two famous algorithms to do software debouncing is vertical counter and shift registers. Despite being well-known, in literature, these methods are typically presented as a code dump with little or no explanation. In this article, I will touch upon these circuits, methods and other algorithms and their use in IoT debouncing.
Understanding Switch Bounce
When the contacts of mechanical switches toggle from one position to another, these contacts bounce (or “chatter”) for a brief moment. During the first millisecond, the bounces are closely spaced and irregular, and although all of it happens in the course of milliseconds, high-speed logic will detect these bounces as genuine presses and releases.
A button release produces bounces too, but it is common for a switch release to produce less bounce than for a switch press.
Switches usually become stable after 5-20ms depending on the quality, size and electronics of the hardware.
Debouncing using S-R circuits
Switch debouncing using S-R circuit is one of the earliest hardware debouncing methods. In this circuit, S-R latch avoids bounces in the circuit along with the pull-up resistor. It is still the most effective debouncing approach.
The figure below depicts a simple digital debouncing circuit which is used quite often.
The circuit utilizes two cross-coupled NAND gates which aim to create an S-R latch, A SPDT (Single Pole Double Throw) switch and two pull up resistors. Then the resistor produces and generates a logic ‘one’ for the gates and the Switch pulls one of the inputs to ground.
If the switch is kept in a position as seen in the figure, the output of the upper gate is ‘1’ regardless of the input of the other gate and the one created by the bottom pull up resistor which stimulates the lower NAND gate to zero, rapidly in turn hustles back to the other gate. If the switch moves back and forth like a pendulum between the contacts and is suspended or halted for a while in neither one of the regions amidst the terminals, the latch preserves its’ state because ‘0’ from the bottom NAND gate is fed back. The switch may move between the contacts but the latch’s output assures that not in any way it would bang back and therefore, the switch is bounce free.
Although S-R is still common, it’s bulkiness cause problems when you try to use it frequently. You can see that it uses many hardware pieces. Another drawback to using S-R circuits is SPDT switches are more expensive than SPST switches. Thus, a new approach of debouncing emerged using an R-C circuit. The basic principle behind it is to use a capacitor to filter out swift adjustments or changes in the switch signal.
The following image demonstrates a basic R-C circuit which is used for debouncing.
It is a simple circuit which uses two Resistors, a Capacitor, a Schmidt trigger hex inverter and an SPST switch.
In the event where the switch opens, the voltage across the capacitor which is initially zero begins to charge to Vcc through R1 & R2. The voltage at Vin is higher and hence, the output of the inverting Schmitt trigger is low (logic 0)
When the switch is closed, the capacitor discharges to zero and subsequently, the voltage at Vin is ‘0’ and output of the inverting Schmidt trigger is high (logic 1)
At the time of the bouncing condition, the capacitor will halt the voltage at Vin when it comes to either Vcc or Gnd.
You may wonder why a standard inverter is not used. There is a problem for using the standard inverter gate here. TTL defines a zero input when the applied voltage is between 0 and 0.8 and the output in certain circumstances or situations is very unpredictable or unforeseeable. Thus, we must use a Scmitt trigger hex inverter. Thereby, the output remains constant even if the inputs vary or dither and it also ensures to prevent the output from switching due to its’ hysteresis trait.
We can debounce switches using the software as well. The basic principle is still to switch signals and filter out glitches if any. The most used algorithms used for that are counters and shift registers.
The first approach uses a counter to time how long the switch signal has been low. If the signal has been low continuously for a set amount of time, then it is considered pressed and stable.
Let’s see the steps in the Counter method.
First, we set up the count value to Zero. Then set up a sampling event with a certain period, say 1 ms. You can use a timer for that. On the sample event, Do the following things.
If the switch signal is high, reset the counter variable to 0 and set the internal switch state to ‘released’. If the switch signal is low, increment the counter variable by 1 until it reaches 10. once the counter reached 10, set the internal switch state to ‘pressed’.
Shift Register Method
Similar to that of the counter method. The only difference is that it uses a shift register. The algorithm assumes unsigned 8-bit reg value usually found in microcontrollers
First, set up the shift register variable to xFF. Set up a sampling event of period 1 ms with the help of a timer. On the sample event, Do the following things.
First, shift the variable towards MSB, the most significant bit. Set LSB, the least significant bit to the current switch value. if the shift register value is equal to 0, set internal switch state to ‘pressed’. otherwise, set internal switch state to ‘released’.
IoT Sensor Bounce
Recently my team has been working on telemetry involving OCR decoding of License Plates. I consider data from an OCR routine, a temperature sensor or a push button the same thing and debouncing the telemetry can be done very much in the same way.
First of all, we needed to clean up the data stream by filtering out incorrect values. Since there are not control digits on license plates, we chose to trust the result if the camera would return three similar plates within five iterations.
If you want to know more about how to debounce data streams or if you have any questions, please reach out to me: email@example.com
Finally it is vacation time again – and I can spend some precious time with my family 🙂
17th May Celebration
The summer starts (as always) with the celebration of the Norwegian Constitution Day – the national day of Norway – and is an official public holiday observed on May 17th each year. Among Norwegians, the day is referred to simply as syttende mai (lit. “seventeenth May”), Nasjonaldagen (The National Day) or Grunnlovsdagen (The Constitution Day).
The Constitution of Norway was signed at Eidsvoll on May 17th in the year 1814. The constitution declared Norway to be an independent kingdom in an attempt to avoid being ceded to Sweden after Denmark–Norway’s devastating defeat in the Napoleonic Wars.
The unique tradition of the celebration of the 17th of May brings some complexities. That is the reason why it is often confusing and hard to understand for a new-comer to Norway with all the fuzz during the day. The children carry flags and march together with bands. Ice cream, hot dogs and other goods to eat are abundant. The buildings are decorated with Norwegian flags and women and men of all ages dress in their Bunad, or national costume. Graduating high school students wear their russedress and celebrate the approaching school year’s end. The sound of loud music is heard from every corner. Understanding of all these 17th of May traditions requires some historical and social background knowledge.
Working in Sweden, I had the opportunity to attend the Sweden Rock festival. Classic rock, hard rock, metal and even some blues – something for all tastes. Clean and neat, safe and secure. Ocean-near location, cozy grass hillsides and real lavatories. But most of all, a really friendly and good-natured atmosphere. Like one big family, with members from over 50 countries. The best audience in the world, quite frankly.
The festival ran from Wed, 5 Jun 2019 – Sat, 8 Jun 2019, and I had a really great time in one one of the most exhilarating festival in the world. It promises to be a good time.
Tons of Rock
Lagends like Kiss, Def Leppard and Satyricon played at Tons of Rock, and I was overwhelmed to attend this great event!
Dream Theater had a great show, celebrating the 25th anniversary of the masterpiece “Images & Words” with us at Ekebergsletta.
Maintenance and Spring Cleaning
Spring is the time to roll up the sleeves and fix whatever the long winter has torn down or wore out. Painting the house, cleaning the back yard and of course applying antifouling paint on the boat to keep the sea-weed away.
I also took the time to fit out the shed with a hardware lab, so the family and myself can work on mechanic repairs outside. The first task at hand was to fix the injection fuel pump for the boat as this had corroded during the winter.
Sun and Sand in Spain
This year (as always) we will go to Orihuela Costa in Spain. Orihuela Costa is a coastal region situated on the Costa Blanca in the province of Alicante. It sits close to the border with Murcia, near La Manga and the beautiful Mar Menor. Despite its name it is actually around 20 kilometres away from the main resort of Orihuela.
The region covers several resorts including Punta Prima, Playa Flamenca, La Zenia, Cabo Roig, Villamartin, Campoamor and Mil Palmeras.
Orihuela Costa is an ideal destination for those looking for a beach family holiday, with 16 kilometres of diverse coastline. It is also an excellent choice for golf holidays; in fact Orihuela Costa is well equipped for all needs, with lots of amenities, facilities and leisure attractions
Cartagena Roman Theater
The theater was built between 5 and 1 BCE, and for centuries was covered by a cathedral built over the upper part of the the theater’s “cavea,” or seating area. The first remains were discovered in 1988, and the theater underwent restoration, completed in 2003. Today the ancient arena still holds performances, and there is a museum at the site displaying the finds from a series of archaeological excavations.
Alicante boasts many treasures. And among its most prominent is indisputably the Castle of Santa Bárbara, which stands on Mount Benacantil overlooking the city. Hewn from millenary stone, this fortress has witnessed centuries of history in this ancient city and even played a leading role in several chapters.
Leisure and Activities for the Kids
Not living the kids out, there would also be fancy events and activities they can do to make them enjoy this holiday. I understand that visiting some of these places can be a bore to them, and some places may even be over exiting..
Music and Entertainment for the Dad
Every Tuesday and Friday I will go to the lunch jam at El Rincon Del Tio Cali where the local musicians will entertain and involve us in fantastic musical experiences. I most likely would be visiting here on my own probably after the kids have gone to other fancy places to catch fun time.
Leyendas del Rock
Leyendas del Rock is a rock and metal festival that takes place in the city of Villena, Spain. Now celebrating their fourteenth edition – and the seventh consecutive year in it current location – the festival has become a respected date in the calendar of heavy metal fans thanks to the lineups of the scene’s favourites.
With more than 60 performers spread across four days and five stages, the high-octane display of hard-hitting rock sounds will this year be headlined by Australian four-piece Airbourne and legendary Irish rockers Thin Lizzy, among others.
So, have a nice vacation everyone – I will see you again in 26th August 🙂