Rajesh Shanmugasundaram

The Paradox of Choice (Barry Schwartz): “There’s no question that some choice is better than none, but it doesn’t follow from that, that more choice is better than some choice.” Retail needs to enter its less-is-more era. The era of the endless aisle is over. Shoppers want to be told what to wear — and the retailers that get it right will win. Interesting reading. #BusinessStrategy #AI #Retailing

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About a good way to create buzz on accessories in Businessoffashion.com article : - Fashion Shows as marketing tools for accessories. The primary focus of fashion shows today is shifting towards selling specific products, particularly accessories. Brands like Chloé, Fendi, and Tory Burch have been more explicit in promoting items like wedged shoes, heels or bags by dressing high-profile guests in them, aiming to generate buzz and drive sales. - Viral product blitz strategy : brands flood the market with specific products to create a viral moment This strategy leverages social media algorithms and press attention to maximize exposure. - Risks of overexposure : Although product blitzes can generate short-term interest and sales spikes, overexposure risks alienating luxury consumers who value exclusivity. There is a fine line between creating excitement and making a product seem "cheesy." My take : for long-term success, luxury brands must balance immediate hype with maintaining the desirability and elevated status of their products. Creating long term value and desirability, is requesting a strategic follow up after the show. #fendi #toryburch #chloe #accessories #wedges #viral #fashionshow

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Jon Reed Jan Gilg Bert Oliver Schulze Perhaps a quick fix to the issue of customers thinking S/4HANA Private Cloud and S/4HANA Public Cloud are just deployment options vs being different products would be to give them more obviously different product names ? Perhaps channel Buzz Lightyear and call one Infinity and one Beyond 😎 I also suspect the winners in the upgrade game will be those customers that have moved to S/4HANA Public Cloud once we see T/5 being announced - assuming an upgrade to this would be automated where moving from S/4HANA Private Cloud would be a re-implementations. So you have a choice of upgrade now or upgrade later 👍

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🟨 Luxury customers actually EXPECT digital product passports in their luxury goods.. 👇 A recent survey* highlighted the growing demand for comprehensive product information by luxury customers. 📊 The study found that luxury shoppers want to know about: - product origins - materials - environmental impact - compliance with regulations This is a BIG opportunity for brands embracing digital product passports (DPPs)! 🔖 Digital Product Passports provide a wealth of data, traditionally found in receipts, certificates and labels, accessible via NFC chips in or QR codes on the product. These passports are by the way required by law for all fashion goods in the European Union by 2030, and promise to transform how luxury items are bought, maintained and resold. 🇪🇺 DPP's are part of the EU's Ecodesign for Sustainable Products Regulation, aimed at making the fashion industry more transparent and sustainable. They function like standardized labels for fashion items, offering extensive info that helps consumers make informed choices, all in an easily accessible format, enhancing the post-purchase experience. ♻️ Consumers already express a significant interest in DPPs, with high demand for features like product authenticity, aftercare and repair instructions, warranty details, and resale options. The integration of DPPs can significantly enhance the resale process by providing authenticated product details, making secondhand luxury items more attractive and valuable. 🧳 Brands like CHANEL, Gucci, Hermès, Prada Group, Christian Dior Couture, and Louis Vuitton are expected to lead the way in adopting DPPs. The survey revealed that more than half of the consumers are already aware of DPPs, although there is still a need for further education on their full potential. 🚀 Early adopters of DPPs are likely to gain a competitive advantage by aligning their offering with consumer expectations and regulatory requirements. Brands like Coach and Tod’s have started incorporating digital IDs into their products, logging details about materials, environmental impacts, authenticity and craftsmanship. ❌ However, challenges remain in implementing DPPs: supply chain traceability & finding the right technology for linking product info are the biggest hurdles. Brands must also effectively communicate the benefits of DPPs to consumers. 🧪 Small pilot projects can help luxury brands navigate these challenges and align DPP offerings with consumer expectations. ➡️ Is this the #1 chance to reimagine luxury brands' relationships with customers through digital product passports? #innovation #digitalproductpassports #luxury #retail #fashion #dpp #future #tech #commerce #business *survey conducted by Authentique, in collaboration with The Ordre Group and the customer experience agency Me, the Customer and I

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A real game changer for us in Enterprise Architecture, the combination of #Signavio Process Explorer and #LeanIX for our Customers Transformations, really ensuing your business strategy is mapped to your SAP and third-party solutions and we have a living architecture and roadmap.

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Interesting article from Businessoffashion.com by Luca Solca underlying the 2 strategies for Burberry ; either give more time to management and shareholders to push Brand elevation via leathergoods and flagship distribution , or more to a Coach model behind outlets increase, costs reduction especially on creativity and communication and off-price channels exposure increase. Is the recent news of lay-off at Burberry is a signal for a strategy change towards a ‘British Coach’ ? Let me know what do you think !

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*** Why SAP adopting companies need consultants - not companions *** Recently, the CEO of a German engineering company challenged me to a pub crawl. After a few assorted whiskys, he abandoned all restraint and launched into a rant about how consulting companies in the SAP space have evolved over the last 20 years. His point was that many SAP consultants have regressed into merely executing technical services instead of providing genuine consulting. Which his view is even worse because SAP itself has "increasingly distanced itself from actual customer advisory in the sales phase, putting emphasis more on showcasing features and functions in a colorful way." Indeed: It’s a sign of poverty of imagination for a consultant to sit down with a white paper and just ask for requirements instead of having an own vision and best practices that deliver real value to customers. The notion of "We build anything you want" has been misinterpreted as being customer-centric, but in reality, it often reveals a lack of vision. "Business Innovation" doesn't occur through "Systems Integration" alone but through consultants who possess both industry and technical knowledge. These consultants can act as enterprise architects, guiding customers through the "why, what, and how" of Digital Transformation with SAP. This becomes even more important when we aim to bring customers to the cloud via "fit-to-standard" methods like SAP Activate. Large enterprise transformations require mapping customer challenges to capabilities, ensuring the right architecture is designed. As the CEO put it: SAP adopters need consultants, not companions! No disagreement here. #sap #technology #consulting

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Once again, this is another excellent analysis by Danny Younis on the auction market in 2024. In the luxury business, rarity and availability are a few of the key factors that play a role in the valuation and price positioning. In recent years, mass luxury brands have increased prices significantly, hoping to improve brand desirability or image. Data shall have the last word.

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Unlock boundless potential with imki | Augmented creativity paving the way from conception to meticulous execution. Validate decisions pre-launch with precision, minimizing time-to-market and superfluous samples. Embrace CSR principles to elevate margins and product success rates. Let AI-driven design guide your innovation journey..

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Pioneering visions that transform into commercial triumphs require unwavering persistence. Just 15 years ago, the concept of omnichannel shopping existed solely on paper. Today, it stands as the everyday reality for each retail company.   Let us convey this sentiment, drawing inspiration from Seleena Amra, our esteemed Store Manager in Palm Beach Gardens, Florida: “As a master of light of Swarovski being introduced to omnichannel, it has not only allowed me to achieve availability, drive sales, and increase KPIs, it has also been able to bring more joyful engagement with my customers, my queens. My team and I continue to unify Swarovski's savoir-faire with every connection we make as it further builds on our brand elevation by keeping the entire experience with our queens, increasing our clientele penetration, and building that rapport.”   My heartfelt appreciation goes to Michele Molon for pursuing his vision, consistently placing the customer at the core. Through unwavering commitment to our vision, a collaborative partnerships built on trust, a relentless determination to overcome obstacles, and unwavering support from our exceptional teams, today we offer world-wide an excellent omnichannel customer experience. Success is not a sprint, it is a marathon. #vision #retail #ecommerce #sales #profitability #omnichannel #digital #digitaltransformation #customerexperience #technology #innovation

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While I have been advocating a multi vendor data stack with one being SAP Datasphere or BW/4HANA, if a company is heavily invested in SAP or the core business functions happens in SAP and have other sources of semi-structured or unstructured data, the below is a welcome twist to it. Would be really interesting to know what exactly Bonprix have done with both the SAP Data Products and why. https://lnkd.in/dinRtmS7

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I just read an insightful article by Daniel André Langer, Luxury Unfiltered, that really hit home: in luxury, mediocrity is simply unforgivable. Today’s clients expect more than just exceptional craftsmanship – they crave an emotional connection that immerses them in something truly extraordinary. As Daniel explains in Luxury Daily, the fight for #loyalty is relentless. To stay relevant, luxury brands must continuously evolve their storytelling and create experiences that resonate deeply with their audience, or they risk fading into irrelevance. A must-read for anyone in the industry! https://lnkd.in/dEza-WVm #Luxury #Branding #CustomerExperience #Storytelling #Marketing #unacceptableOrdinary #customerengagement #Luxuryretail #GCC #india #china #engagement #exclusivity #personaltouch

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At Paris Retail Week C leaders from retail unveiled their strategies and visions for the future of the industry 💡 What were the most valuable recommendations for retail and e-commerce businesses? Well, it was all about digital imaging and AI of course! 🛍️ AI to rethink personal shoppers; AI analysis of customer preferences, visit and purchase history, and searches means that customers are served personalised experiences. 🚀 The impact of Vision AI on Customer Experience; Identifying a product means that consumers are confident that the item they have invested in is verified, has a transparent history and is easily re-sold. Brand trust and loyalty is intensified (also see below for The ORDRE Group product, Authentique).  📊 Generative AI; adds to business growth by analysing data and conversations associated with e-commerce pages, trends and customer sentiments are being identified…and acted upon! 🖥  E-Commerce Imagery is Everything; Understanding all aspects of the product is essential to conversion. Customers expect clear product imagery that showcases the entire front, back, top, bottom and sides of the item they are buying (hello, The ORDRE Group ORB360) 💳  Virtual Assistants for Customer Conversation; Consumers are now more informed and want fast, seamless, and intelligent navigation. Enter the chatbot! 🌐 Generative AI for inventory and delivery management; E-commerce giants such as Amazon, Rakuten, Alibaba Group or Walmart have integrated generative AI tools and language models to strengthen their inventory management, demand forecasting and delivery route optimisation. The time to adopt this technology is now, yet with brands in a race to introduce these innovations, it is important to seek advice. The Ordre Group are on hand to answer any queries you may have. The group offers two technologies: ORB360˚ - ˚360 image solutions revolutionary in taking high quality product photos in a limited amount of time, with immediate uploads. AUTHENTIQUE - Vision AI connecting physical products to their digital assets providing consumers with identification, authentication and traceability. 🚀Reach out to [email protected] if you’d like to know more. #parisretailweek #retail #ecommerce #fashion #AI #technology

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𝗡𝗮𝘃𝗶𝗴𝗮𝘁𝗶𝗻𝗴 𝗖𝗵𝗮𝗻𝗴𝗲: 𝗔𝗴𝗶𝗹𝗶𝘁𝘆 𝗶𝘀 𝘁𝗵𝗲 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗘𝗱𝗴𝗲! In yesterday’s post by CARRARA advisory, we highlighted the growing importance of agility in the beauty industry. Upon reviewing The State of Fashion 2025 report (https://lnkd.in/ejWsxP8x), it's clear that the fashion industry is also facing similar dynamics. Today, businesses that thrive in this fast-evolving environment have one thing in common: agility. Whether it’s established companies mastering their portfolio across brands, channels, geographies, and tiers, or small, independent brands, both have the ability to move quickly, reallocating resources where and when they are needed the most. On the opposite end of the spectrum, large corporations are like tanks—steady and slow-moving in a defined direction, struggling to adapt to change (4th most used word in the The Business of Fashion report after “fashion”, “business” and “brands”). But why is this the case? Several factors hinder their ability to pivot, with one key culprit being an outdated approach to planning and budgeting, which creates significant obstacles: • 𝗥𝗲𝗮𝗰𝘁𝗶𝗼𝗻 𝗧𝗶𝗺𝗲: 𝗬𝗲𝗮𝗿𝗹𝘆, locked budgets are difficult to adjust, often requiring complex restatements in response to major changes like M&A activity. This rigidity severely limits flexibility in decision-making in case of sudden changes during the course of the budgeted year. • 𝗥𝗲𝘀𝗼𝘂𝗿𝗰𝗲 𝗙𝗹𝗼𝘄: Budgets are typically allocated by brand, geography, or division, creating 𝘀𝗶𝗹𝗼𝘀 that make it nearly impossible to redirect resources quickly to where they’re needed most in case of sudden changes. • 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗠𝗼𝘁𝗶𝘃𝗮𝘁𝗶𝗼𝗻: When management 𝗯𝗼𝗻𝘂𝘀𝗲𝘀 are tied to meeting budget targets, there’s often a focus on growing a specific brand, division, or geography, even if it means resisting necessary changes that could benefit the larger organization. The question is: should we continue complaining about the 𝗖𝗛𝗔𝗡𝗚𝗘, or is it time to reimagine how corporations approach budgeting to stay ahead? #Agility #BusinessStrategy #CorporateTransformation #Leadership #Innovation

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LVMH consistently holds the largest share of branded searches from Q3 2023-Q2 2024s, fluctuating slightly between 30% and 31% of search volume. This indicates LVMH’s strong brand presence and continued dominance in the luxury market. The stable share implies that LVMH’s brands are consistently attracting consumer interest, regardless of seasonal changes or market conditions. The luxury goods market stands to be reshaped if Tapestry’s proposed $8.5 billion acquisition of Capri Holdings Limited can get past a US Federal Trade Commission challenge. Our analysis of worldwide web search for the brands of the major luxury goods companies finds that Tapestry is currently trending at #3 and, with the addition of Capri, could be a contender for the #2 spot currently held by Kering. As explained in Glossy’s reporting, “If successful, the acquisition would combine Tapestry’s brand portfolio of Coach, Kate Spade and Stuart Weitzman with Capri’s roster of Michael Kors, Versace and Jimmy Choo, creating a U.S. powerhouse in a space typically dominated by European brands.” Announced a year ago, the proposed merger was challenged by the FTC in April, and court proceedings began this month. While branded search volume does not directly translate into sales, it’s a strong indicator of consumer interest, whether products are being researched for purchase online or in brick-and-mortar storefronts. Here is what the rankings look like by that measure: by David F. Carr and Inès Durand

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ESSILORLUXOTICCA TO BUY SUPREME FOR 1.5 BILLION Bloomberg Key Takeaways: 💰 EssilorLuxottica SA agreed to buy the streetwear label Supreme from VF Corp. for $1.5 billion in cash, adding another lifestyle brand to the French-Italian eyewear company’s stable that already includes Ray-Ban and Oakley. 🏁 Supreme was founded in New York by James Jebbia in 1994, selling clothes and footwear targeting skateboarding and urban trends. It has moved from being a cult favorite, with its distinct red and white logo, to a mainstream success and now has an online business as well as 17 stores in the US, Asia and Europe. 💥 Supreme’s growth has been fueled by so-called “hype” marketing, including limited-edition collaborations with partners ranging from watchmakers to musicians, and frequent “drops” of new products. Among others, it has tied up with Louis Vuitton and The North Face. ℹ EssilorLuxottica was formed from the merger of two of Europe’s most prominent eyewear companies — Italy’s Luxottica and France’s Essilor. It is a global leader in the production and sale of prescription eyeglasses, sunglasses and contact lenses. LEARN MORE: https://lnkd.in/gZZg8eEh #web3 #investment #ai #singularity #metaverse

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📊 Interesting insight into the SAP market - below is a Talent Pool report on "SAP Consultants" in Europe. According to the report, France is the most active country, followed by Spain and then Germany. #SAP #SAPTalentPool #Europe

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🔴 Target’s store staff can now get help from an AI chatbot, instead of asking a manager 👇 US retail giant Target is rolling out a gen AI-powered chat bot, Store Companion, to team members across nearly 2,000 stores. 🤖 The AI companion will be accessible via handheld devices and guides workers through store procedures, from signing someone up for Target's membership program to troubleshooting cash register issues. Target believes this form of real-time assistance will improve efficiency & free up time of the staff to focus on serving customers. 😕 While the initiative promises increased productivity and - indirectly - more customer engagement, it also raises questions about potential downsides. Traditionally, workers would turn to a colleague for guidance but with Store Companion, there's a risk that organic, relationship-building moments will diminish and lead to a more isolated workforce, where team members rely more on tech than each other. 📊 A recent study found that 20% of employees ALREADY experience daily loneliness, rising to 22% among those under 35. 🤔 So what will the impact of chatbots like these have? ➡️ How will we ensure that efficiencies gained through AI don't erode staff interactions that contribute to a positive & productive workplace? #innovation #retail #ai #genai #future

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