CART Weekly Report 5/30/19
CART, Advancing Retail
Gary’s Take: Targeting ads using the shopper's emotional state appears to be the next step in contextual relevancy. The New York Times is using machine learning and surveys to understand the link between different types of stories and the reader's emotions, offering advertisers up to 18 different emotional states they can target. The NYT is not the only company seeking to understand emotions as recent articles call out that Amazon is working on using voice and potentially other means to understand the user's emotions. Advertisers are in search of increasing efficiency and efficacy while consumers are in search of contextual relevance. While these two 'goals' seem in alignment, I think there will come a growing pushback from consumers as more people understand they are being monetized... and not sharing in the proceeds beyond whatever offers or promotions are extended to them.
Gary’s Take: Beyond the innovation gap, retailers need to be increasingly focused on the growing productivity gap driven by automation and new capabilities. Ahold is deploying $35,000 robots across 500 stores to monitor floor conditions (goal to avoid slips & falls) and the robots can easily be tasked with monitoring shelf conditions for out of stocks and pricing errors. Ahold is only one of a number of large retailers increasingly using automation in distribution centers and at store level to reduce costs and increase sales. To date, this is primarily a game for the largest retailers who are able to afford the cap-ex and significant investment. Automation is coming to food prep, and a number of other areas - all of which constitute a growing threat to regional and smaller retailers unable to move fast enough and leverage this technology. Interesting times lie ahead for retailers of all sizes!
Sterling’s Take: Technology won't solve it. This is a cultural issue, technology is secondary. Simplifying communications, automating more and setting expectations is key. But there also has to be a relatedness between the HQ and the store level. If HQ doesn't understand what it's like inside their stores and how to run them, they're disconnected from where their business is actually happening.
Sterling’s Take: I don't see a conflict here -- they are different sides of the same coin and they reinforce each other. To separate learning would separate the Apple stores from a major component of what makes them special, some of the community aspects. Separately, there's always opportunity around new formats and learning what else might work (or work better) as retailers.
FEATURED BLOG OF THE WEEK:
RETAIL TOMORROW INNOVATION PROGRAM OPPORTUNITIES by Gary Hawkins, CEO CART
UPCOMING ON-SITE INNOVATION DAYS - Specifically looking for solutions in these areas to present:
- Wakefern - June 29, 2019: In-store Engagement - Digital Marketing - Data and Personalization Tools (Apply by May 25, 2019)
- Food City - July 15, 2019: Marketing & eCommerce - Health & Wellness Tech - In-Store Automation (Apply by June 10, 2019)
DISRUPTIVE LEADERSHIP & THE SELFCARE REVOLUTION, Boston Immersion Event - Hosted July 17 & 18th, 2019
MOBILE SHOPPING CONNECT - JUNE 10-12, 2019 in San Diego, CA
OUTLOOK LEADERSHIP - August 11-14, 2019 in Asheville, NC
The convenience industry’s premier, invitation-only event, that you cannot afford to miss. In a world of accelerating change, where we are going and how do we build our organizations to thrive there? Sterling Hawkins will take attendees on a retail journey.
C-Store operators can register today at https://outlookleadership.com/ using Invite Code: power
REFLEXIONS 2019: INTELLIGENT RETAIL - August 12-15, 2019 at Caesars Place in Las Vegas
GROCERYSHOP - September 15-18, 2019 at the Venetian in Las Vegas
CART COMMUNITY. GET ON THE INSIDE. MEMBERSHIP HAS BENEFITS.
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.
FOR RETAILERS>> Proven programs to advance your business
FOR SOLUTIONS>>Your growth engine into retail
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.