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

    Laying a Foundation for the New-Age Retail Industry

    Paul Karras, SVP & CIO, Wilton Brands

    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

    right

    Retail in the IoT era

    By Mikael Lindholm, VP IoT, Telenor

    Tweet
    content-image

    Mikael Lindholm, VP IoT, Telenor

    Humbly proud to see that the master thesis I wrote in the mid 90's about how Internet will change retail in many cases fallen into place. Slightly different and definitely far of timing wise, disruptive changes take time (although significantly accelerating) from what I predicted but in many ways right. One main difference is that I thought existing large enterprises would anticipate the opportunity and come together and make the end market offering, rather than eBay/Amazon/Alibaba/Lazada. In hindsight with experience I am not surprised about slow moving legacy. However, I fully missed out the possibilities and impact of Machine Learning and Artificial Intelligence, which today I see as the fundamental parts.

    Retail as we used to define it, i.e. buying finished goods from the shelf in the physical store (based on what the store decided to put on the shelves) and promoted by print and TV advertising already feels like the dinosaur era. Yes, and that’s from someone born in the 70s, for anyone younger this is seen as something very ancient behaviour.

    Today, I find it difficult to see the logic of the global retail chains continuing opening multi stories in same cities. Besides the ever increasing cost of attractive and scarce location, there is also increase in cost of labour to manage. This in combination with an already significant shift to online shopping by the consumer. Look back one month, Alibaba sales alone on November 11, an immense 25 Billion USD, more than 800 million orders. This was a growth of nearly 40 percent from last year. Additionally, 90 percent of the trade was made via mobile terminals. To be clear, China is already highly automated in the whole logistic chain to support this.

    The internet (mobile or stationary) retail has some clear USPs compared to traditional retail: 1. Open 24 hours a day – offering shopping experience and opportunities where and when customers want to shop!

    Today’s smart phone era where people feel more lonely than ever, physical shopping can be one saviour where one actually "have" to meet with other alive people

    2. Offer adapted to me (based on purchase history as well as suggestions based on sales to others with similar profile as me)

    3. Easy to make comparison (quality, performance, and price)

    4. Delivered home to me, where most convenient (home, work or other)

    These advantages to me make me highly sceptical about the future of traditional retail. No doubts a large part of malls situated in and near greater cities will disappear in the years to come. Also in smaller cities a lot of stores will have a challenge to remain profitable and a large portion will be forced to close down.

    For this not to happen there are two vital things that needs to happen:

    1. People have to realise and value the social aspect of shopping. In many Asian countries I have learned that shopping is seen by its inhabitants as national sports/ favourite hobbies.

    2. The truly personalised shopping experience also in physical stores.

    To make the digital and IoT solutions part of the personalised shopping experience in physical retail is not so hard. By identifying the user when he/she enters a retail chain store (given that consent is given) promotion and guidelines what to show (personally and on digital displays) and offer the customer is fairly straight forward in a technology sense. By combining technologies on previous purchases in the store in the past, last week Google/Baidu/WeChat activities, browsing on mobile and PC devices, online purchases and use similar data analyses and comparison as online shopping, personalised relevant results should come. Yes the sales rep can of course tell the mode of the shopper, stressed v/s lounge mood, which can be detected on pulse or for instance harsh brakes from the car they took to the store on way to store.

    The second element is the social and personal part. This I believe is crucial, the honest recognising smile combined with competence from the sales rep - this part is vital if we believe the human element in retail is to remain. Also the social aspect of shopping is important to promote/take advantage from. Today’s smart phone era where people feel more lonely than ever, physical shopping can be one saviour where one actually "have" to meet with other alive people. Of course Internet retail is trying to manage this part as well through the use of Augmented Reality and Holograms.

    Of course prices (and business models) needs to be close to that of online shopping (unless value in personal service can be significant). Loyalty programs and cooperation/ transparency between online and offline shopping is a must in this consumption era. The consumer have to be supported whatever way they want to buy and consume the products. Retail 2020 will be more personalised yet less social is my take...

    tag

    IoT

    Machine Learning

    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

    Pinpointing Weak Links in an Enterprise Security Chain: Helping Companies Battle Data and Content Security Challenges

    Pinpointing Weak Links in an Enterprise Security Chain: Helping Companies Battle Data and Content Security Challenges

    Hiro Imamura, SVP and GM, Business Imaging Solutions Group, Canon U.S.A. [NYSE:CAJ]
    Evolving Customer Relationship Management: Move Fast or Die Trying

    Evolving Customer Relationship Management: Move Fast or Die Trying

    Ed Ariel, Vice President of Service Operations, ezCater
    Importance of Customer Relationship Management Implementation

    Importance of Customer Relationship Management Implementation

    Drew Fredrick, Vice President, Home Building Technology, Clayton Homes
    How enterprise tech startups and corporates can collaborate for innovation

    How enterprise tech startups and corporates can collaborate for innovation

    Paul Santos, Managing Partner, Wavemaker Partners
    How an Initiative for Standardization and Modularization Leads to Cost Reduction, Increased Efficiency-and Better Teamwork

    How an Initiative for Standardization and Modularization Leads to Cost Reduction, Increased Efficiency-and Better Teamwork

    Faruk Bilgin, Global Director Manufacturing Engineering of Webasto Group
    Empowering the Retail Paradigm

    Empowering the Retail Paradigm

    Jason Williams, VP of Engineering, DICK’S Sporting Goods
    Fortifying the Retail Pardigm Amidst Uncertainities

    Fortifying the Retail Pardigm Amidst Uncertainities

    Vlad Yakubson, Head of Retail, yd.
    Journey from Intelligent Automation (IA) to Artificial Intelligence (AI)

    Journey from Intelligent Automation (IA) to Artificial Intelligence (AI)

    Sanjay Choubey, VP-IT, Briggs & Stratton
    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/cxoinsights/retail-in-the-iot-era-nwid-4905.html