Shannon Wu-Lebron

In my recently published #retailtech report titled, "Frictionless Check-In—Seamless Shopping Starts with Store Entry Through Biometrics and More," I explore the following key points: 1. 𝐐𝐑 𝐂𝐨𝐝𝐞, 𝐂𝐫𝐞𝐝𝐢𝐭 𝐂𝐚𝐫𝐝 𝐨𝐫 𝐏𝐚𝐥𝐦 𝐒𝐜𝐚𝐧𝐧𝐢𝐧𝐠: 𝐂𝐚𝐮𝐬𝐢𝐧𝐠 𝐚 𝐏𝐚𝐮𝐬𝐞—These are all reasonably easy ways of checking into a store, however the busy consumer has to break stride to use them. 2. 𝐍𝐅𝐂: 𝐍𝐨 𝐀𝐩𝐩𝐬 𝐍𝐞𝐞𝐝𝐞𝐝—NFC is seeing use in retail loyalty program identification and public transit entry. We probably already have our phones in our hands anyway. 3. 𝐂𝐞𝐥𝐥𝐩𝐡𝐨𝐧𝐞 𝐃𝐚𝐭𝐚, 𝐁𝐥𝐮𝐞𝐭𝐨𝐨𝐭𝐡, 𝐚𝐧𝐝 𝐅𝐚𝐜𝐢𝐚𝐥 𝐑𝐞𝐜𝐨𝐠𝐧𝐢𝐭𝐢𝐨𝐧: 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫-𝐈𝐝𝐞𝐧𝐭𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐓𝐞𝐜𝐡 𝐓𝐡𝐚𝐭 𝐇𝐚𝐬𝐧’𝐭 𝐓𝐚𝐤𝐞𝐧 𝐎𝐟𝐟—These technologies that can identify your phone, and we are now seeing facial recognition used for air travel. Take a look at the report: https://lnkd.in/e3pHX3hc #frictionless #biometrics #facialrecognition Coresight Research

14

Today, we published the third installment of what has become an annual report on loss prevention technology. Takeaways from the report include: * North American consumers are increasingly accepting of facial recognition, and some major US retailers are currently collecting biometric information from store visitors. * Shrink at self-checkout kiosks is getting a bit of a bad rap, since the devices contain a wealth of advanced computer vision and AI technology to detect theft (and customer errors) to provide retailers with options on how to respond. * We present Coresight Research consumer survey data on how consumers are responding to goods locked up in the store. There are technologies that enable customers to unlock cabinets with their smartphone, and new physical restraints to prevent thieves from leaving the store. Here is a link to the free report: https://lnkd.in/gRGc8r3t Thanks to Diebold Nixdorf for sponsoring it. #lossprevention #computervision #RFID #facialrecognition

15

Are in-store purchases more sustainable and incur less carbon emissons than eCommerce purchases? The answer may surprise you. Online shopping can often be the greener option to stores, provided there's "Willingness to Wait" as I elaborated on my post: https://lnkd.in/eEPq64hR. Thanks for the messages and comments. To read the full thesis published by MIT CTL researcher, Dimitri Weideli, go to: https://lnkd.in/eFgZ4vEq In another MIT research on inbound logistics (https://lnkd.in/eusGtJW7), it was found that fast shipping produces significantly higher CO2 emissions as it may prevent cargo consolidation. To decarbonize meaningfully, track your carbon footprint effectively - visit www.finboot.com to read more.

16

1 Comment

Scaling RMN are not easy...“When prioritizing connections, key considerations are scale, inventory quality, targeting capabilities and impact. When we invest in building the connection, we want to ensure we can deliver the value customers have come to expect. Criteo’s scalable model enables Pacvue to onboard new retailers in seconds, a process that would otherwise take months with a traditional one-by-one approach, significantly accelerating our clients’ time to market.” Checkout Melanie Zimmermann's article on how she's successfully accomplishing RMN at scale at Criteo #retailmedia #criteo #pacvue

31

1 Comment

It is interesting where are different retailers applying the digital twins technology. The technology is so versatile both in tools and in frameworks, allowing to use it for use cases across the value chain: from distribution centers and darkstores to in-store operations. In my experience, even the relatively unsophisticated uses such as simulation models were proving success and saving lots of investments when going to pilot on the ground.

2

Despite digital's penetration in retail, physical stores remain a vital part -- if not the lifeblood -- of most retailers' businesses: from providing memorable and differentiating customer experiences to fulfilling online orders to generating in-store sales. And now Walmart, the world's largest company (and retailer), are recognizing just how much successful stores contribute to their overall success by rewarding (our fancy word for 'compensating') their store managers accordingly. From a talent perspective, this move 'raises the bar' and should enable Walmart to attract, develop, and retain the retail industry's very best performing store managers while simultaneously forcing its many competitors to respond. #retail #retailer #talentacquisition #storemanagers #compensation #totalrewards

27

1 Comment

Good article in WSJ’s CIO Journal today about Gen AI’s potential in retail. Many retailers are talking about AI and many solution providers are weaving AI into their capabilities; but there is also a resurgence of ‘vaporware’ connected to AI as the hype escalates. In reality - and the article does a good job of this - there are multiple areas where Gen AI can absolutely add value to retail activities. The areas I’m most focused on are hyper-personalization of marketing, business process automation, and data insights. The real magic happens when you combine these things. Together, these synergistic Gen AI capabilities are poised to transform and disrupt traditional retail marketing. But technology alone is an enabler. It must be combined with changing business processes to be transformative. And that’s what’s beginning to happen in historically mass-driven FMCG retail. Retailers using capabilities provided by a company like Birdzi, Inc. are upending traditional retail marketing, finding it is now more efficient, more cost effective, and more impactful to go to market on a true customer-specific basis. No more mass promotions, no more segment-based targeting. Gen AI capabilities, combined with big data, automate the process of developing, communicating, and delivering, hyper-personalized promotions and content to each individual customer. Understand the fundamental change that is happening here. For the first time, technology is enabling retailers to truly be customer-focused in how they go to market, rather than product driven. This was not possible before artificial intelligence. Marketing personalization was limited to simply filtering a finite number of mass promotions (ex. ad items) or coupons to surface those most relevant to the shopper. This was all current technology was capable of. Birdzi’s tech blows away those limitations, able to generate n number of customized promotions for each individual shopper, drawn from the 30,000 or 40,000 or 80,000 SKUs the retailers has on its shelves. And do this at scale. But most importantly - and most powerfully - Birdzi’s technology is disruptive: It changes shoppers’ expectations. Personalized Disruption article here: https://lnkd.in/gCPT8-sK #retail #FMCG #CPG #technology #AI #transformation #disruption #grocery #supermarket Center for Advancing Retail & Technology (CART) Birdzi, Inc. Shekar Raman #CEO #CMO #COO #CIO #retailinnovation #retailtech #genai Greg Fasullo Todd P. Michaud Pasquelo Tate https://lnkd.in/gaifbFkU

17

1 Comment

Hello Retail Friends,   It’s no secret that supply chains have faced unprecedented disruption and volatility in recent years, underscoring the need to address vulnerabilities, improve preparedness, and create innovative strategies.   We surveyed 285 retail, CPG, and wholesale leaders globally in February 2024, exploring the challenges, strategic investment areas, and opportunities for retailers and CPGs over the next 3-5 years.   See how retail and CPG executives are tackling these challenges and planning for the future in our report, State of Supply Chain 2024: Retail and CPG Dynamics.     https://lnkd.in/eQQVdNmN     #supplychain #businesstransformation #supplychainplanning

5

1 Comment

Groundbreaking AI Applications in Retail Shoptalk Some believe generative AI has the potential to transform the world on a par with the microchip or the world wide web; estimates suggest it could raise global GDP by over €6 trillion in the next decade. If 2023 was the year of experimentation with generative AI, 2024 will be the year companies start to expect some returns from their deployments of the technology. This session will feature three executives whose companies are leveraging generative AI in different ways. They'll share case study presentations detailing their experience and early learnings, providing concrete examples of ways the technology is shifting their businesses and ways of working. June 4th, 9-9:40 am, The Heart https://lnkd.in/dBqnz2qc See you there

84

3 Comments

Artificial intelligence can help retailers create a very individualized and human omnichannel shopping experience https://lnkd.in/eDRUcaP5 Here are three retailers currently using AI to personalize different aspects of their customer engagement strategies #retail Chain Store Age

14

1 Comment

Key EMARKETER stat: Nearly half (49%) of US retailers report using store intelligence technologies (like AI/machine learning, IoT sensors, and shelf-edge cameras) have improved price planning, according to a March 2024 report from Coresight Research sponsored by Simbe. Beyond the chart: Poor pricing and promotional execution cost retailers an average of 4.8% of gross sales, per the report. AI and machine learning are valuable tools in pricing and promotional strategies. They enable retailers to adjust prices in real-time based on market conditions, competitor actions, and customer preferences. 60% of US retailers are currently investing in AI/machine learning algorithms and 56% plan to invest in it in the future, per Coresight Research. #retailtech #emarketer

3

Hello Retail Friends,   I cannot stress enough how important fresh products are to grocery retailers. When it comes to inventory planning, “point solutions” that lack end-to-end integration and only address store-level planning simply are not enough!   Retailers need proven, multi-echelon planning solutions that extend beyond the store - unifying, automating, and optimizing planning in stores, DCs, and omnichannel. This is the only way to get crucial visibility and insight across the end-to-end value chain.   https://lnkd.in/ej53RsFV #supplychain #grocery #freshproduce How to improve retail fresh food inventory management | RELEX Solutions Tackle fresh food inventory management challenges head-on with the right strategies and robust planning software. www.relexsolutions.comhas context menuCompose

11

An interesting read on the impacts of the new government on retail. A mixed bag: Tax cuts or continuation of tax cuts that are due to expire in 2025, increased tariffs( = increase in expenses), a warmer approach to mergers, etc. #retail

13

The Path to Purchase Institute hosted P2PI LIVE & Expo (Nov. 12-14), bringing together commerce marketing leaders to explore topics like omnicommerce, retail media, AI, and more. Discover key takeaways in this summary, sponsored by Blue Chip where CMO Dan Eisenberg introduces “Creative Commerce,” uniting brand building and conversion. 📖 Read now at https://lnkd.in/emf-ZVYf #RetailMedia #CommerceMarketing

12

My colleagues @Brian and @Catherine delve into the importance of practicality in Retail's AI-driven future. Emphasizing the significance of informed decisions based on tangible business advantages over unrealistic hype and speculation. Discover how pairing AI with practical strategies success.

10

1 Comment

💵💵𝗘𝗹𝗲𝗰𝘁𝗶𝗼𝗻 𝗬𝗲𝗮𝗿 + 𝗦𝗵𝗼𝗿𝘁𝗲𝘀𝘁 𝗛𝗼𝗹𝗶𝗱𝗮𝘆 𝗦𝗲𝗮𝘀𝗼𝗻 = $989𝗕 𝗶𝗻 𝗦𝗮𝗹𝗲𝘀? 𝗢𝗵, 𝘁𝗵𝗶𝘀 𝘀𝗵𝗼𝘂𝗹𝗱 𝗯𝗲 𝗴𝗼𝗼𝗱! 💵 💵 The National Retail Federation (NRF) is sticking to its YoY holiday retail sales growth forecast of 2.5% to 3.5%. This projection suggests record breaking holiday spending (up to $989B). This is a pretty bold position given this year’s holiday shopping nuances, including: • This holiday season is the shortest in 3 years. Compound that with severely constrained ad inventory that was consumed by the 2024 presidential election. • Research shows that 32% of consumers will be impacted by the presidential election. Further, 23% will spend less if their candidate did not win. That said, 2/3 of customers subscribe to the notion of retail therapy (i.e. shopping provides an element of control and an escape from reality) • 36% of consumers will not start shopping until Black Friday • Given pending tariffs, consumers could accelerate durable good purchases to preempt tariffs   To be clear, NRF is not alone. Multiple organizations forecast YoY growth between 2.5-8.0%; however, there are several contributing factors at play. If we have learned anything from this past election cycle, sometimes the margin of error is wider than anticipated. 🤷‍♂️ #ElectionSeason #HolidayShopping #Xmas https://lnkd.in/eda9CWbb

1

Did you know that promotions drove $1 trillion in sales in 2023?  This according to the new pricing and promotions report from RELEX Solutions and Incisiv. We surveyed 179 retail executives across the U.S., U.K., France and Germany, and found that:  🔑 Promotions drove $1 trillion in sales in 2023  🔑 Only 12% of retailers are using are using advanced analytics   🔑 #1 challenge impeding maturity is data quality and integration     🔑 37% of retailers use spreadsheets to manage promotions  We’ll be sharing these insights at Groceryshop 2024 (October 7-9, Las Vegas, Booth A610) and at the 7th Annual RELEX Grocery Forum (October 8-10, Barcelona), providing opportunities to discuss the findings and explore AI-driven solutions.   Download the report at https://lnkd.in/dexef53y #pricing #promotions #supplychain 

5

Retail is powered by data. The future of retail is digital. Retail success is dependent on positive customer engagement (digital and physical). If you believe the above statements, why - if you are a retailer - would you deliberately hand over to a third-party your customer engagement, a growing revenue stream, and a source of ever more important first-party data? Yet that’s just what retailers and wholesalers have done by signing on to Instacart’s retail media network. If I’m a retailer or wholesaler, I get it. Instacart is the ‘Easy Button’. A one-stop shop for outsourcing online shopping, digital shopper engagement, and retail media. Choosing a third-party like Instacart removes major headaches and resource commitments for retailers. So I don’t blame retailers and wholesalers for partnering with third-parties like Instacart. But at what cost? As Instacart and other third-party marketplaces grow their influence, traditional retailers will increasingly be delegated to simply putting products on the shelf. CPG marketing funds are rapidly evolving towards digital solutions. How long do you think it will be before traditional trade promotion dollars will be dependent on digital capabilities like sophisticated targeting, digital engagement in the store, and digital offer delivery managed across a growing number of channels? All things Instacart is able to provide. So I get it. Grocery retail is incredibly tactical, the need to obsessively control operating expenses to eke out a profit. Thinking strategically and longer-term is a luxury that many retailers and wholesalers do not have. And I have to give Instacart credit. They saw a market opportunity and went after it, pivoting along the way to provide a growing array of tech solutions to retailers in addition to creating and growing their retail media network. Yet as we accelerate up and out technology’s exponential growth curve, that historical tactical focus, putting out the brush fires to survive another day, becomes increasingly dangerous. And understanding that we now live in a world that has never before existed, a world of exponential change, is now imperative for survival. That’s why I wrote Bionic Retail, my latest book. To help the retail industry understand that it is now in a new world and many of the old rules no longer apply. Succeeding in the exponential world requires new thinking and deliberately letting go of many past practices, processes, and beliefs that increasingly constrain retail and innovation. Maybe the ‘Easy Button’ isn’t going to be so easy after all. The Shelby Report ROFDA Instacart #grocery #groceryretail #grocerystrategy #grocerytech #groceryinnovation #retail #retailtech #retailstrategy #retailinnovation #CPG #CPGinnovation #retailmedianetworks #RMN #supermarket Center for Advancing Retail & Technology (CART) https://lnkd.in/gH93nm3A

7

We recently published a #retailtech report titled, "Frictionless Checkout—The Eye in the Sky Makes Shopping a Breeze." Key points: 1. 𝗖𝗮𝗺𝗲𝗿𝗮𝘀 𝗮𝗻𝗱 𝗔𝗜 (𝗮𝗿𝘁𝗶𝗳𝗶𝗰𝗶𝗮𝗹 𝗶𝗻𝘁𝗲𝗹𝗹𝗶𝗴𝗲𝗻𝗰𝗲) 𝗔𝗿𝗲 𝗧𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆 𝗧𝗿𝗲𝗻𝗱𝘀—Advances in solid-state cameras and AI have enabled the creation of the frictionless store and are likely to continue to drive capabilities in the future. 2. 𝗔𝗺𝗮𝘇𝗼𝗻 𝗣𝗶𝘃𝗼𝘁𝘀 𝗧𝗼𝘄𝗮𝗿𝗱 𝗖𝗼𝗺𝗽𝘂𝘁𝗲𝗿 𝗩𝗶𝘀𝗶𝗼𝗻 𝗮𝗻𝗱 𝗥𝗙𝗜𝗗—At NRF 2024, Amazon demonstrated the addition of RFID to its JWO platform and is favoring smart carts for grocery and large stores. 3. 𝗥𝗲𝗱𝘂𝗰𝗶𝗻𝗴 𝗙𝗿𝗶𝗰𝘁𝗶𝗼𝗻 𝗖𝗮𝗻 𝗔𝗹𝘀𝗼 𝗟𝗼𝘄𝗲𝗿 𝗦𝗵𝗿𝗶𝗻𝗸: 𝘁𝗵𝗲 𝗘𝘆𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗦𝗸𝘆 𝗦𝗲𝗲𝘀 𝗔𝗹𝗹—self-checkout has much a higher shrink rate than that of human-based cashiers. Take a look at the report: https://lnkd.in/gfezrBfc #computervision #frictionless #justwalkout

16