Shireesh Annam

Behind every innovative AI solution at Target, there's a skilled team in India making it possible Target recently shared how they’re using generative AI to enhance customer experiences. While they don’t have stores in India, their Global Capability Center (GCC) in Bengaluru is key to this innovation. Executives highlighted how the Indian team is using AI to personalize customer experiences, just before their AI conference, Multiplai, on July 19 in Bengaluru. Brad Thompson, SVP of Technology, mentioned that Target is working on over 20 AI projects with models from OpenAI and Google, including the new Store Companion app, which helps associates in multiple languages. Andrea Zimmerman, SVP and President of Target India, called the Bengaluru office their "extended headquarters," with over 4,500 employees, including 1,700 tech team members collaborating closely with the US team. Target started in India in 2005, making it one of the oldest Global Capability Centers. Here's to more innovation! #GlobalTeam #GenerativeAI #CustomerExperience #TechInBengaluru #GlobalCapabilityCenter #AIInRetail 

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Retail Media Network Basics At A Glance At the Path to Purchase Institute, we've curated all the essential retail media intel, terms, and definitions you need to know. Whether you're new to retail media or looking to refresh your knowledge, this article is packed with valuable resources to help you stay ahead of the curve. Take a look and get up to speed on the latest in retail media. #RetailMedia #Marketing #P2PI #membership #MediaTrends https://lnkd.in/eS4Jnid8

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At continuation of a previous post on #subscription market, it is interesting to note how Amazon keeps on investing and investigating into this model, leveraging its amazing #Prime customers base. The attempt to apply it on the grocery market might be disruptive, as this is definitely a vertical where such offers are clearly making sense. Amazon has rolled out a new grocery subscription service for Prime members and customers using EBT (electronic benefits transfer for government assistance programs). The key details are: - $9.99 per month for Prime members, $4.99 for non-Prime EBT customers - Provides free #grocery delivery on orders over $35 - Covers Amazon Fresh, Whole Foods, and partnered grocers like Cardenas Markets - Available in over 3,500 U.S. cities and towns - Includes benefits like 1-hour delivery windows and priority for recurring orders - Builds on existing Prime grocery perks like Whole Foods discounts - Part of Amazon's efforts to enhance its grocery offerings and drive Prime memberships - Follows recent moves like removing Just Walk Out tech from some stores and offering Dash Carts to other grocers - Amazon has been adjusting grocery delivery minimum spend thresholds and expanding access to non-Prime customers The new subscription aims to provide a "best-in-class" grocery experience by combining selection, value and convenience for Amazon's diverse customer base. It represents Amazon's latest play to sharpen its grocery operations and grow its share of the lucrative grocery market. https://lnkd.in/esjWqyHZ

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You have to give credit to Walmart. Many large companies have struggled to keep up with market change. Sears, with their legacy catalog, was uniquely positioned to transition to the e-commerce space but failed to adapt. Blockbuster, once the king of home entertainment, couldn't pivot fast enough in the face of Netflix's streaming revolution. Many companies are too entrenched in their legacy operations to embrace the speed of change. Walmart, on the other hand, has not only recognized these shifts but is actively leaning into them. From expanding their Marketplace to building out Walmart Fulfillment Services (WFS), they are rewriting what it means to be a big-box retailer in a digital-first world. Bringing in top talent from Amazon—arguably the leading pioneer in e-commerce and supply chain innovation—demonstrates a clear commitment to accelerating this shift and a willingness to change. While there’s still work to be done to catch up in areas like last-mile delivery and seamless omni-channel experiences, Walmart’s recent results show they are doing something that few companies of their size can: evolving their business model to stay ahead of the curve. It will be fascinating to see how this leadership change will accelerate Walmart’s journey into advertising.

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BRILLIANT RESEARCH: Feeding the Future: Transforming Fast-Moving Consumer Goods with Data Driven Intelligence https://lnkd.in/gvRx9_KZ The grocery industry is experiencing a significant transformation driven by the adoption of AI, ML, and generative AI technologies. Grocery retailers utilizing AI/ML in demand intelligence, inventory management, and merchandise management see a 99% higher sales growth and a 75% higher profit growth compared to those who do not #retail IHL Services

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Hello Retail Friends, I am pleased to announce the release of our latest Pricing and Promotions research report, developed with Incisiv. This report, surveying 179 retail executives across the US and EMEA, will be presented at Groceryshop in Las Vegas this week - be sure to come see us at booth #A610 to learn more.    Key findings include:   🔹 93% of shoppers demand more value: With 84% citing price as critical, 87% of retailers have adopted aggressive discounting strategies to sustain sales and loyalty.   🔹 $1 trillion in sales driven by promotions in 2023: Amid economic uncertainty, promotions are essential. 87% of retailers plan to maintain or increase promotional efforts in 2024.   🔹 Low adoption of advanced analytics: Only 12% of retailers use real-time data, advanced algorithms, and AI, impacting their agility.   🔹 Critical challenges in data quality and integration: Effective promotional strategies require accurate, unified data, yet cultural resistance also hinders progress.   🔹 Reliance on outdated systems: 37% of retailers still use spreadsheets, lacking the agility needed for dynamic market conditions.   The report highlights the need for integrated pricing and promotional capabilities. By leveraging advanced technology, retailers could achieve an additional $450 billion in incremental sales.   I encourage industry leaders to explore this report for strategic insights to drive growth and innovation.   #RetailLeadership #PricingStrategy #Promotions #MarketResearch #RetailInnovation #Groceryshop #GroceryForum #RELEXSolutions   https://lnkd.in/eSjYKxqC

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My partner Sri Rajagopalan and I discuss the key reasons why Walmart is growing unit volume by being focused on value, digital growth and cost controls. Not only they are delivering great financials but also taking significant market share from rivals!! #WalmartGrowth #UnitVolume #RetailStrategy #ValueDriven #DigitalTransformation #CostControl #MarketShare #RetailSuccess #BusinessStrategy #FinancialGrowth https://lnkd.in/eqv6_mxT

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This interview with Walmart CEO Doug McMillon is a #retail #masterclass. A bit of context and perspective, combined with a lot of detail about every aspect of their business — #merchandising, #SupplyChain, #stores, #digital / #omnichannel, #international, #technology, #marketplaces, #RMNs, and more. And this will make an excellent base prompt for a retail #AI assistant — one of my #WeekendProjects

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How do you track sales and customer behavior when there’s zero data, and minimal paperwork? Think about a mom-and-pop store in a remote part of India that gets by just fine without technology. There are probably thousands of similar retailers across the region, and even more worldwide. For about 100 years now at NielsenIQ, we’ve had to do it manually. We’d send team members to those sites, they would collect data directly from sources, and use market research to fill in the blanks. It was painful at times but worked effectively for most of our existence. Until the last 10 years, when innovation pushed us to be smarter, and more efficient. We began partnering with what we call POS vendors that have penetrated certain markets, and can provide us with datasets we use as samples. From there, technology has enabled us to transform that information into a more accurate representation of the market and to project what is happening in terms of sales and trends. Partnerships have always been our strong suit at NielsenIQ. They’ve enabled us to scale, operate more efficiently and effectively, and seek out creative solutions to unique challenges. Those kinds of opportunities are critical now when so much of our interaction and communication has become global. They foster sustainable growth. We’re in a much better position now to deliver accurate, timely data to our clients because we looked to outside sources to support them. #leadership #TheFullView #NIQ

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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

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We've heard a lot about Chinese sellers in the e-commerce marketplace, such as Temu and SHEIN. Now Walmart is helping Indian sellers be introduced to the global e-commerce market. How long before an Indian seller as big as Temu or SHEIN unveils itself on the global stage? How are you competing against these global sellers in an increasingly competitive market? #ecommerce #worldcompetition #itsaglobalmarket

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📌 Why Brands Should Focus on the Beyond Money Segment Over the Aspirational Segment The Beyond Money segment represents the most resilient and fast-growing customer base, with each consumer averaging an annual luxury spend of €350k. Although they make up less than 2% of clients, they contribute a staggering 30% of revenues, making each one worth approximately 230 times that of an aspirational consumer. ✨ Strong growth: Base of UHNWIs is expanding at a 10% CAGR. ✨ Market share: Doubled their market share in luxury over the past decade. ✨ Stability: Their luxury spending is not tied to GDP trends or macroeconomic cycles, and is five times less volatile than that of aspirational consumers. ✨ Loyalty: They are more loyal to their Client Advisors than to any specific brand. These customers shop across a wide range of brands and are only considered relevant for an average of two, though they typically shop with ten brands. However, many brands still rely on quantitative spending thresholds within a limited timeframe (12-18 months) to identify them, resulting in missed opportunities. To truly capitalize on the Beyond Money segment, luxury operators must adopt a more sophisticated CRM segmentation and elevate their brand to a lifestyle choice. If not executed perfectly, there is a significant risk of losing these valuable clients to competitors, as 68% would follow their Client Advisor to a new brand if they moved. Source: BCG Altagamma True-Luxury Global Consumer Insights 10th Edition #LuxuryMarket #CustomerLoyalty #BeyondMoney #CRM #UHNWIs #LuxuryStrategy #Luxury

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The Science of Shopping - Why People buy :) - has always intrigued me. As a keen student of retail , have tried time and again to bring this science to the forefront of retail professional journeys. Join me in my journey with webengage - to demystify - science of shopping and consumer retention. #podcast

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Highlights from last week's NYC #RetailSafari -- focus was the intersection of #technology, #customers, and #operations, primarily in specialty apparel and fashion. Key themes: 1. Technology goes backstage – Brand new formats / concepts at H&M, Banana Republic, Zara, AMERICAN EAGLE OUTFITTERS INC., lululemon, and J.Crew and none come across as tech-forward w/ regard to customers. On the other hand, associates were all mobile enabled and doing most of their work leveraging phones / tablets. 2. Old tech; new tricks – Widespread use of #RFID and #QR codes (both generally on the price ticket), with a mix of internal and external use cases -- self-checkout, RFID-assisted full-service checkout, inventory counts, inventory finding, #BOPIS, etc. 3. Apps are an entry point – #Retailers without a clienteling / selling culture are using apps to drive customer capture. #Lulu uses app-based membership to enable exchanges on sale items; UNIQLO offers special discounts to app members. 4. Unified is still a unicorn – Despite a decade of focus on #omnichannel and unified commerce, many gaps exist. Very few #retail apps recognize when you’re in store, send a notification, and/or assist in the shopping experience. Many didn’t even have their newest stores listed as an option for #BOPIS (despite in-store signage).  5. Video is the new visual – ultra-large format (8-10ft x 12-16ft) video screens were a common feature of many new stores, and really helped to bring the brand lifestyle to life.  6. It’s hard to (re)teach people how to shop – Across all stores except Bonobos, Glossier, Inc., and Reformation, the shopping process is the same as it’s been for the past 50+ years. The ones that don't are focused on a niche customer with a unique product offering. IMO, the product is the driver and consumers "accept" the experience. 7. The "future" is not here yet, but you can start to see the shape of it – Demoing the Apple #VisionPro, we could think of multiple use cases (mostly internal / operational), and while it’s too early (and too expensive) to fully commit, it’s certainly worth considering a pilot as part of an #innovation lab. It's also worth noting there was no apparent use of #AI by customers or associates. Curious to hear comments, feedback from other markets. #ibmretail

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Retail’s biggest season is approaching, but many retailers might not be feeling the cheer. In September, total US retail sales in Bain-defined categories grew by just 2.3% year over year, extending the slowdown that began in July. Both in-store and nonstore sales have lost momentum, aligning with our forecast for a more sluggish holiday season. Discover the full outlook in our latest retail sales update. https://bit.ly/4e0IDIs

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Interesting Health Habits report just out from Numerator. Consumers are focusing focus on health categories, especially nutritional drinks and powders, yet antacids HH penetration is high and growing. In-store continues to lose to online, driven by the convenience of subscribe and save. Retailers need to pay attention to the in-store experience, especially price packs and promotions. Good read: https://lnkd.in/e9hPWBni

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Shipping and supply chain challenges persist post-pandemic. Retailers facing a 20% price hike from shipper-suppliers are caught between maintaining margins and retaining customers. Balancing costs and customer satisfaction is now a delicate dance for retailers in the current market landscape. #Shipping #SupplyChain #Retailers #BusinessChallenges

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Here are some interesting stories from the world of retail for Tuesday, October 8: 🛒 Gamification is one of three new capabilities Instacart is rolling out for its Caper Cart smart carts. The company is adding location-based coupons, and aisle-aware advertising formats to its AI carts. 🎅🏼 For the last two years, brands have approached the holiday season with cautious optimism. This year, brands are feeling much better about their holiday sales going into the golden quarter. 📦 Nearly all of the FTC’s antitrust lawsuit against Amazon will move forward, according to newly unsealed court records. The judge ruled that nearly all of the 20 counts against Amazon could proceed. 🏭 Walmart is installing automation at two regional distribution centers — one in Arizona and the other in Arkansas. The tech enables Walmart to double the number of processed cases per hour. 💊 Walgreens has named its new chief commercial officer. Jason Stenta comes aboard as the company considers selling its stake in VillageMD and contends with shareholder litigation. 🔌 The Aaron's Company, Inc. has completed a previously announced deal to take the company private. The lease-to-own retailer said fintech business IQVentures Holdings has acquired it for an enterprise value of $504m. 😡 Many Poshmark sellers are angry about the platform's new fee structure - particularly the buyer protection fee, which they say places a burden on buyers and may drive them away. 🏥 CVS Health is expected to cut more than 630 employees who report to the company’s headquarters in Woonsocket, according to a letter the company sent to state officials on Monday. 📱 A soon-to-open Sam's Club store will reportedly eliminate fixed checkout in favor of app-based shopping and payment. The chain is opening a pilot store in Grapevine, Texas in mid-October. 🫙 Thousands of people who purchased Pyrex measuring cups may be eligible for refunds from the Federal Trade Commission. The company had falsely claimed that all products were made in the USA. 🚚 Amazon will likely see a boost in consumer spending during its Prime Big Deal Days as cash-strapped consumers — also jittery over last week’s strike at US ports — pounce on deals early and often, according to experts. 🎬 The highly anticipated musical sequel to the 2019 hit Joker from Warner Bros. Entertainment movie studio delivered just $40 million at the domestic box office in its opening weekend. 🚫 Five years after acquiring the retail advertising platform PromoteIQ, Microsoft now seems to be quietly shutting it down and pushing clients to use Criteo. #retail #retailnews #economy #DailyRetailNews

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