CART WEEKLY REPORT 2/14/19
CART, Advancing Retail
Gary’s Take: In a world of exponential growth in computer processing power and innovation I believe we must be careful of pronouncing that technologies like Amazon Go won’t win the future. While today the technology is challenged to scale to larger stores with tens of thousands of products, to state that it will never get there is shortsighted. The Amazon Go store was opened to the public only a little more than a year ago and already there are many young startup companies focused on bringing similar tech to the retail industry. It wasn’t that long ago that robots roaming store aisles was science fiction. Yet today Walmart, Ahold, and others are deploying the technology across hundreds of stores. Technology is moving increasingly fast, bringing with it new capabilities never before envisioned. Visit Center for Advancing Retail & Technology (CART)to keep pace.
Gary’s Take: A growing number of retailers are seeking to leverage their data and shopper traffic to sell digital ads, creating an incremental revenue stream. As Kevin rightly calls out, retailers need to be careful going down this path. As I call out in my upcoming book, Retail in the Age of 'I’, every interaction with a customer is a make or break moment and digital ads need to be contextually relevant to the individual customer. Retailers have long looked to brand marketing funds to support their profitability but that becomes more challenging when the focus is growing the lifetime value of each individual customer.
Gary’s Take: Great article from Brian at Retail Feedback Group calling out the importance of customer service in retail. As we’ll discuss in the CART Event at the upcoming NGA Show on Sun. Feb. 24, the future of retail lies in leveraging technology to build relationships with each individual customer. And as automation continues to move into the store, smart retailers will redirect some of those labor savings to investing in their people and delivering superior service. Look forward to seeing everyone in San Diego!
'Hey Alexa, what’s the future of voice ordering for groceries?'Analysts say voice shopping will begin to mature in five to 10 years but still has too much friction for convenience-seeking customers. | Food Dive
Featured Blog of the Week:
Applications Now Open for the CART-Winsight Grocery Business Spring 2019 Retail Innovation Pitch Event. You can learn more about it and apply here.
- The event is designed to give mid-market regional retailers and progressive independent operators a framework for navigating fast paced innovation while retaining a focus on the importance of people and physical stores as we move into the future.
- A discussion into the world of iRetail featuring industry thought leaders and retail executives sharing experiences and case studies
- Dive into the five ‘i’ framework to evaluate existing capabilities and incorporate new technologies into your businessHow to develop an innovation culture within your company
- Showcase and demonstrations of the latest technologies transforming retail.
Register to Attend: http://www.thengashow.com/2019-register
About the Author
CART is Advancing Retail by connecting the industry to innovation. Retailers, wholesalers and brands utilize CART to find, research and connect with solutions appropriate for their businesses. Solution providers use CART as a go-to-market tool that connects them directly to their target retail audience, all the way into the brick and mortar store itself. CART has unparalleled insight into what’s next in retail and shares this information regularly through multiple channels.
CART Registered Due Diligence:
First level due diligence ensuring the solution is valid and viable.