CART Weekly Report 4/25/19

CART Weekly Report 4/25/19

CART, Advancing Retail

Description

AMERICA'S BIGGEST SUPERMARKET COMPANY STRUGGLES WITH ONLINE GROCERY UPHEAVAL | Wall Street Journal

Gary’s Take: Two key things I would call out relative to this Kroger story by Heather Haddon from WSJ. The first is that while Kroger, like all other grocery retailers, is being challenged by the move online, has an asset few others do: Years of accurate customer purchase data. That data is the fuel for helping Kroger understand their customers and powering up more efficient customer growth and retention. While Kroger does a good job with personalization, they can always do better, especially leveraging the latest AI and machine learning approaches. The second call out: while Kroger is working to innovate at a growing pace, they are resource-challenged to deploy new tech like their digital shelf edge solution fast enough. If a Kroger with their resources is having a tough time, it makes you wonder about the future of the regional and independent retailers.

HOW GROCERY RETAILERS CAN REINVENT THEIR LOYALTY PROGRAMS | Progressive Grocer 

Gary’s Take: So this article on retailers reinventing their loyalty programs fails to understand what retail loyalty programs are all about… DATA. Sure, the value proposition is important - points, fuel rewards, 2-tier pricing, etc. - that’s what drives shopper enrollment and participation. But the author is suggesting that retailers can be successful by dropping traditional loyalty and concentrating on customer service and developing a unique niche like a Trader Joe. In a world of consumer expectation for personalization and contextual relevancy, customer data is not optional. Just having great service or a unique product niche is not enough. Its all about data - just ask Kroger, Amazon, and many others. Retailers without data will be increasingly challenged to remain relevant in the Age of ‘I’, as the world is increasingly tailored to each of us individually.

WILL AMERICA’S LOVE FOR COUPONS EVER DIE? | RetailWire

Sterling’s Take: It’s worth looking at the whole experience not just the paper coupons; there’s a cycle of distribution and redemption that’s sometimes just easier with paper. Digital has a little work to do. I don’t think consumers “want” paper coupons — they just accept them as a known, simple experience. Separately, Valassis conducting a paper coupon survey is kind of like cigarette companies funding cigarette studies in the ’50s and early ’60s :).

IS AI’s IMPACT ON DEMAND FORECASTING MORE HYPE THAN REALITY | RetailWire

Sterling’s Take: AI will significantly transform most aspects of our lives. By 2045 (or so) a $1,000 USD processor will buy you the processing power equivalent to all human beings alive — about 9 billion people. It’s hard to fathom the kind of impact that’s going to have on our businesses or our lives; however, I imagine shoring up at 32% forecasting error will be positively impacted sooner than later.

HOW TO FIX CORPORATE TECH STRATEGY | Innovation Excellence

Sterling’s Take: There is no silver bullet to ensure a company commercializes its next great technology, product or service. Key disruption to current processes can significantly improve the odds because it’s about the people and about the culture. Ensuring connectedness, simplifying analysis, and increasing agility will help any company better invest its resources as it tries to invent the future.

FEATURED BLOG OF THE WEEK: 

4 WAYS AUGMENTED REALITY IS REDEFINING THE SHOPPING EXPERIENCE by Alexa Marino, Glance Creative

HAPPENINGS

COMMERCE IN THE CONSUMER AGE: HOW HUMANITY AND TECHNOLOGY COME TOGETHER TO CREATE A NEW VISION FOR RETAIL - Criteo Commerce Forum May 9, 2019 

CREATING ROI IN THE FUTURE OF AR/VR IN RETAIL: HOW RETAILERS ARE USING VR/AR TO ACHIEVE GROWTH, PROFITABILITY, AND CUSTOMER EXPERIENCE GOALS - May 14, 2019

DISRUPTIVE LEADERSHIP & THE SELFCARE REVOLUTION​, Boston Immersion Event 

  • Apply to present at Retail Tomorrow Labs: Boston - Applications due June 15th, 2019
  • Full Agenda

Get on the Inside - CART Community

FOR RETAILERS>> Proven programs to advance your business

FOR SOLUTIONS>>Your growth engine into retail

Become part of the epicenter of retail innovation exclusive network. The place where retail decision makers and solution providers come together to advance retail into the future. 

VIEW ALL SOLUTIONS HERE 

CONTACT US

TELL ME HOW TO GET MY SOLUTION ADDED TO CART

Get the CART Weekly Report delivered to your inbox. Sign up here


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.

Affiliations: 

Reviews