Apac
  • Home
  • CXO Insights
  • CIO Views
  • News
  • Conferences
  • Newsletter
  • Whitepapers
  • About us
Apac
  • Admired Tech

    Agile

    AI Healthcare

    Artificial Intelligence

    Augmented Reality

    Aviation

    Big Data

    Blockchain

    Cloud

    Cryptocurrency

    Cyber Security

    DevOps

    Digital Transformation

    Drone

    HPC

    Infrared

    Internet of Things

    IT Services

    Marine Tech

    Networking

    PropTech

    Remote Work

    Robotics

    Scheduling Software

    Sensor Tech

    Simulation

    Smart City

    Software Testing

    Startup

    Storage

    Unified Communication

    Web Development

    Wireless

  • Automotive

    Banking

    Capital Market

    Construction

    E-Commerce

    Education

    FinTech

    Food and Beverages

    Gov and Public

    Healthcare

    Insurance

    Legal

    Logistics

    Manufacturing

    Media and Entertainment

    Metals and Mining

    Pharma and Life Science

    Retail

    Sports

    Travel and Hospitality

  • CISCO

    Google

    IBM

    Microsoft

    Oracle

    Salesforce

    SAP

    ServiceNow

  • Business Intelligence

    CEM

    Cloud-based Planning

    Cognitive

    Collaboration

    Compliance

    Contact Center

    Contact Tracing

    Contactless Payments

    Corporate Finance

    CRM

    Custom Software Development

    Data Center

    Digital Signage

    Enterprise Architecture

    Enterprise Asset Management

    Enterprise Communications

    Enterprise Contract Management

    Enterprise Performance Management

    ERP

    Facility Management

    Field Service

    Fleet Management

    Gamification

    HR Technology

    IT Infrastructure

    IT Service Management

    Managed Services

    PLM

    Procurement

    Product Management

    Project Management

    RegTech

    Revenue Management

    Sales Tech

Menu
    • Retail
    • CISCO
    • Collaboration
    • Compliance
    • Contact Center
    • Healthcare
    • IT Service Management
    • Microsoft
    • MORE
    #

    Apac CIO Outlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIO Outlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    • Retail
    Editor's Pick (1 - 4 of 8)
    left
    AI becomes Personal

    Sherif Mityas, CIO & Chief Experience Officer, TGI Fridays

    Is Your Head in the Sand?

    Marc Kermisch, VP & CIO, Red Wing Shoe

    Driving a Performance Culture

    Paul Scorza, CIO, Ahold USA

    Discover the First Mile

    Ruben Martin, Co-Founder &CTO/ COO, Quivers

    The Missing Link for Retail: Closing the Loop between Point of Sale and Marketing

    David Inggs, CTO, VMob

    It all Comes Together in Retail.  In a World of Possibilities, Where to Start?

    Simon Kennedy, CIO, The Warehouse Group

    End to End Supply Chain Planning is the Need of the Hour

    Abel Correa, CIO, Arvind Lifestyle Brands Limited

    Expectations of a CIO Today are Embryonic

    Ashok Sethi, CIO, Sapient

    right

    Laying a Foundation for the New-Age Retail Industry

    By Paul Karras, SVP & CIO, Wilton Brands

    Tweet
    content-image

    Paul Karras, SVP & CIO, Wilton Brands

    A UNIFIED CUSTOMER BASE

    To control its business, an organization has to control its data at all touch points, distinguishing the data, shoppers generate at each of the touch points. This is important because the same shopper can interact with both online and traditional brick and mortar channels, so identifying them as a single persona is the key. This requires the enablement of foundational technology capabilities and the gritty process of analyzing structured and unstructured data in order to create a single, integrated view of all shopper activity, tracking all respective interactions across channels and touch points highlighting behavior patterns. For example, compiling, organizing and conducting data analysis on areas such as, via CRM, e-commerce, social media, and EDI, and across all channels, creates a comprehensive, integrated view of shopper activity so that behavior patterns become meaningful to the business. Ultimately, a focus around building mastery in analytics competencies will enable businesses to make informed decisions and enhance shoppers’ experiences at each touch point, providing them with relevant offers in the channels the shoppers prefer.

    RESHAPING THE FACE OF COMMERCE

    I am enabling my business through amplified talent competencies and architected technology capabilities that are fast and flexible. Data now feels as the world’s new natural resource, enabled by technology that is infusing into almost everything and every process as evidenced by the proliferation of mobile devices, social media and overall changing expectations from digitally empowered shoppers. Our approach is centered on reimagining and reinventing our productivity capabilities, simplifying our operational foundation and amplifying our capabilities thru the power of the cloud. We are aggregating data sources of all types so we can be quick and flexible in conducting analytics and adapt to consumers’ changing needs and buying practices. We have pursued IT supplier relationships that enhance our workforce capabilities and allow us to gain depth on new technology stacks that complement our business objectives, enabling nimble response to demand for our services.

    A RETAIL REVOLUTION

    Reporting and Analytics (Social, Mobile, Reporting)

    We all know that the volume of data is rising inexorably as point of sale transaction data, online customer behaviors, sentiments etc., are being recorded by retailers.

    “Big data impacts every point along the value chain so the analytic potential is endless”

    As such, retailers across the board are amassing and evaluating data from social and mobile interactions through scale-out platforms and techniques that enable both contemporaneous and predictive analytics designed to process large amounts of data in an effort to anticipate shoppers’ wishes. This effort encompasses harnessing unstructured data from social and or mobile interactions to derive insight on top of their present information management capabilities so that retailers can get an edge in the market, predicting how shoppers may act in the future. Also, because big data technologies are presently fairly robust, we are seeing downward pricing pressure on many retailers notably through cross-retailer price comparisons. This is evident most notably between Amazon and Walmart.com, in many cases eroding margins as they are competing on price.

    E-COMMERCE (B2C, B2B, MOBILE COMMERCE)

    Although ecommerce has been around for a while, the offering methods have changed and continue to evolve as well as the mastery and adoption of ancillary technology tools. For example, B2C and B2B systems have traditionally been on premise offerings. Over the past 4-5 years, the explosion of Social Media offerings and Mobility capabilities present enriched capabilities to engage shoppers, manage content strategy and overall digital presence to drive loyalty programs, social advertising, crowd sourcing, social selling, partner advocacy and expand revenue opportunities. Conversion techniques must be approached thoughtfully analyzing and understanding patterns matching and demographics of shoppers, quickly shifting merchandising strategies that are tailored to individual shoppers. An important consideration we need to understand is that big data/ information, mobile, social media are all derivatives and possible because of the huge compute capacity of the Cloud.

    CORE OPERATIONS (STORE OPERATIONS, MERCHANDISING, INFRASTRUCTURE)

    Big data impacts every point along the value chain so the analytic poten­tial is endless. Marketing is enriched by micro-segmentation, sentiment monitoring, and enhancement of the multichannel consumer experience. In Merchandizing assortment, pric­ing, and product placement can be optimized in near real-time. Within Operations, labor inputs optimization can now be enhanced, creating more accurate predictions of staffing needs based on optimized labor inputs, au­tomated time and attendance tracking, and improved labor scheduling all ag­gregated in near real time. Addition­ally, within supply chain, we obtain better inventory management through analytics that mine multiple datasets. Transport analytics improve fuel effi­ciency, vehicle maintenance, and driv­er behavior. Customer and transaction data informs retailer negotiations with suppliers to obtain concessions on products.

    TRANSFORMING IN-STORE EXPERIENCE: ROLE OF BIG DATA AND ANALYTICS

    Retailers engaged in Big Data ana­lytics capitalize on the tremendous volume, variety, and veracity of data by mapping the right metrics to busi­ness decision processes. Using data in near real time, they can personal­ize marketing campaigns, optimize assortment, products differentiation, shopper journey, predictive modeling and drive customer conversions. In addition, Retailers can drive improved merchandising decisions and identify in-store and online inefficiencies in distribution and operations. Overall, through the disruptive nature of the Cloud and a new generation of ad­vanced and big data analytics com­mercially available, retailers not only gain efficiency points, but also have the potential to leapfrog competitors by delivering new and unexpected benefits to customers.

    Just picture the potential in this market and consider: Retail Industry is only going to grow. So let’s do it better.

    Wilton Brands is the leading supplier of the U.S. crafts industry. Established in the year 1929, Wilton is headquartered in Woodridge, IL and operates in two divisions, visibly, Wilton Enterprises and Simplicity Creative Group.

    tag

    Big Data

    Inventory Management

    Point of sale

    Predictive Analytics

    inventory

    Weekly Brief

    loading
    Top 10 Retail Tech Companies - 2020
    Top 10 Catering and Retail Technology Solution Companies - 2020

    Featured Vendors

    Fedelta

    Scott Buckham, Technical Director

    AOPEN

    Stephen Borg, CEO

    ON THE DECK

    Content Management System 2020

    Top Vendors

    Contactless Payments 2020

    Top Vendors

    Admired Tech 2020

    Top Vendors

    Corporate Finance 2020

    Top Vendors

    AI 2020

    Top Vendors

    Travel and Hospitality 2020

    Top Vendors

    Startup 2020

    Top Vendors

    Networking 2020

    Top Vendors

    FinTech 2020

    Top Vendors

    CRM 2020

    Top Vendors

    Scheduling Software 2020

    Top Vendors

    Education 2020

    Top Vendors

    Business Intelligence 2020

    Top Vendors

    PropTech 2020

    Top Vendors

    Salesforce 2020

    Top Vendors

    Big Data 2020

    Top Vendors

    Simulation 2020

    Top Vendors

    Product Management 2020

    Top Vendors

    Legal 2020

    Top Vendors

    Remote Work 2020

    Top Vendors

    Cryptocurrency 2020

    Top Vendors

    CEM 2020

    Top Vendors

    Insurance 2020

    Top Vendors

    Data Center 2020

    Top Vendors

    Banking 2020

    Top Vendors

    RegTech 2020

    Top Vendors

    Wireless 2020

    Top Vendors

    Procurement 2020

    Top Vendors

    Cognitive 2020

    Top Vendors

    Drone 2020

    Top Vendors

    HR Technology 2020

    Top Vendors

    HPC 2020

    Top Vendors

    Pharma and Life Science 2020

    Top Vendors

    SAP 2020

    Top Vendors

    Food and Beverages 2020

    Top Vendors

    Cloud 2020

    Top Vendors

    Blockchain 2020

    Top Vendors

    Cloud 2020

    Top Vendors

    Logistics 2020

    Top Vendors

    Augmented Reality 2020

    Top Vendors

    Contact Center 2020

    Top Vendors

    Oracle 2020

    Top Vendors

    Cyber Security 2020

    Top Vendors

    E-Commerce 2020

    Top Vendors

    Compliance 2020

    Top Vendors

    Enterprise Architecture 2020

    Top Vendors

    Digital Transformation 2020

    Top Vendors

    Manufacturing 2020

    Top Vendors

    Agile 2020

    Top Vendors

    CISCO 2020

    Top Vendors

    Field Service 2020

    Top Vendors

    Contact Center 2020

    Top Vendors

    IoT 2020

    Top Vendors

    Microsoft 2020

    Top Vendors

    Retail 2020

    Top Vendors

    Aviation 2020

    Top Vendors

    Healthcare 2020

    Top Vendors

    IT Service Management 2020

    Top Vendors

    Top Vendors

    Big Data 2019

    Top Vendors

    Digital Signage 2019

    Top Vendors

    Sales Tech 2019

    Top Vendors

    Startup 2019

    Top Vendors

    Salesforce 2019

    Top Vendors

    AI 2019

    Top Vendors

    Google 2019

    Top Vendors

    Smart City 2019

    Top Vendors

    FinTech 2019

    Top Vendors

    Admired Tech 2019

    Top Vendors

    Big Data 2019

    Top Vendors

    IT Services 2019

    Top Vendors

    Business Intelligence 2019

    Top Vendors

    Education 2019

    Top Vendors

    Project Management 2019

    Top Vendors

    Enterprise Asset Management 2019

    Top Vendors

    CRM 2019

    Top Vendors

    Data Center 2019

    Top Vendors

    PropTech 2019

    Top Vendors

    Capital Market 2019

    Top Vendors

    Travel and Hospitality 2019

    Top Vendors

    Legal 2019

    Top Vendors

    IT Infrastructure 2019

    Top Vendors

    Plastic Tech 2019

    Top Vendors

    Facility Management 2019

    Top Vendors

    Fleet Management 2019

    Top Vendors

    CEM 2019

    Top Vendors

    Sensor Tech 2019

    Top Vendors

    RegTech 2019

    Top Vendors

    Marine Tech 2019

    Top Vendors

    Collaboration 2019

    Top Vendors

    Software Testing 2019

    Top Vendors

    Facility Management 2019

    Top Vendors

    Automotive 2019

    Top Vendors

    Food and Beverages 2019

    Top Vendors

    Insurance 2019

    Top Vendors

    HPC 2019

    Top Vendors

    Wireless 2019

    Top Vendors

    Simulation 2019

    Top Vendors

    Corporate Finance 2019

    Top Vendors

    Drone 2019

    Top Vendors

    AI Healthcare 2019

    Top Vendors

    SAP 2019

    Top Vendors

    Procurement 2019

    Top Vendors

    Cyber Security 2019

    Top Vendors

    IBM 2019

    Top Vendors

    Construction 2019

    Top Vendors

    Logistics 2019

    Top Vendors

    Managed Services 2019

    Top Vendors

    Manufacturing 2019

    Top Vendors

    Media and Entertainment 2019

    Top Vendors

    Cloud 2019

    Top Vendors

    Banking 2019

    Top Vendors

    Agile 2019

    Top Vendors

    IT Service Management 2019

    Top Vendors

    Retail 2019

    Top Vendors

    HR Technology 2019

    Top Vendors

    Oracle 2019

    Top Vendors

    Cognitive 2019

    Top Vendors

    Compliance 2019

    Top Vendors

    Contact Center 2019

    Top Vendors

    Healthcare 2019

    Top Vendors

    Gov and Public 2019

    Top Vendors

    Microsoft 2019

    Top Vendors

    Pharma and Life Science 2019

    Top Vendors

    DevOps 2019

    Top Vendors

    E-Commerce 2019

    Top Vendors

    Blockchain 2019

    Top Vendors

    IoT 2019

    Top Vendors

    Metals and Mining 2019

    Top Vendors

    Gamification 2019

    Top Vendors

    Field Service 2019

    Top Vendors

    Augmented Reality 2019

    Top Vendors

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Read Also

    Accelerating Petcare Innovation through CRM and Digital Vision

    Accelerating Petcare Innovation through CRM and Digital Vision

    Miao Song, Chief Information Officer, Mars Petcare
    How Cloud Systems are Impacting Business Environments

    How Cloud Systems are Impacting Business Environments

    Martin Stegner, CIO, NOVUM Hospitality
    Digital Tack

    Digital Tack

    Claus Nehmzow, Chief Innovation Officer, Eastern Pacific Shipping Pte
    Brokering the Cloud Services

    Brokering the Cloud Services

    Eric Boyette, Secretary & State CIO, Information Technology
    Defining a Cloud Strategy: A Higher Education Paradigm

    Defining a Cloud Strategy: A Higher Education Paradigm

    Russell M. Kaurloto, VP and CIO, Clemson University
    The 4Ps of Digital Transformation in Pharmaceutical Industry

    The 4Ps of Digital Transformation in Pharmaceutical Industry

    Debraj Dasgupta, Operating Officer, Head of Strategy and Go-To-Market Planning Division, Nippon Boehringer Ingelheim
    Technology’s Role in The Care and Quality of Life for The Aged

    Technology’s Role in The Care and Quality of Life for The Aged

    Jose A Perez, Chief Information Officer, Hammondcare
    How ECM is Revolutionizing Organizations

    How ECM is Revolutionizing Organizations

    Thomas Phelps IV, VP of Corporate Strategy & CIO, Laserfiche
    Loading...

    Copyright © 2021 APAC CIOoutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy Policy  |  Sitemap |  Subscribe

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://retail.apacciooutlook.com/ciospeaks/laying-a-foundation-for-the-newage-retail-industry-nwid-4067.html