Omni-channel retail journey – Scenario 1 In this scenario, the consumer chooses to start their retail journey with an online product research ➜ in-store / in-person product evaluation (experiential retailing) ➜ online ordering (for online-only special SKU/pricing) payment & fulfillment ➜ online refill/subscription ordering (repeat purchases) ➜ phones customer support for returns/exchange policy & process…

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Introduction to holistic retail Customer Experience (CX) program – Part 1

This segment briefly introduces holistic customer experience (CX) program and outlines its correlation to product & brand experience as it pertains to today’s omni-channel retailers

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One way retailers can address these challenges is by developing a holistic retail CX program that unifies all of their channel specific CX initiatives seamlessly at every one of the consumer touch points that traverses the retailer’s omni-channel footprints Read the full article

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As a starting point retailers would need to identify a range of factors (both common & unique to eChannel) that have the potential to influence their eCommerce platform’s CX These influencing factors may be derived from key consumer interaction points across their eShopping journey and furthermore; retailers may choose to categorize them under key business…

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Developing variations of reference holistic Direct-to-Consumer (D2C) solution framework – (Part 3)

This segment aims to outline how traditional CPG/FMCG manufacturing brands could develop variations of the reference holistic D2C solution framework Quick Note: Despite commonalities inherent to the industry; each CPG/FMCG brand is relatively unique (size, geographic reach, product/SKU mix, long-term goals, partnerships, etc.) and as such their D2C solution strategies too would be reflective of their individual goals & capabilities Part 2 briefly…

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Designing a reference holistic Direct-to-Consumer (D2C) solution framework – (Part 2)

Continuing from Part 1; which introduced the benefits and concept of holistic D2C solution; this segment outlines one of the many ways traditional CPG/FMCG manufacturer (and other) brands could design their holistic D2C framework Designing a Typical Holistic D2C Solution Framework – Concept There are many ways in which brands can approach building their version of a D2C solution……

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How traditional CPG/FMCG brands could benefit from building a holistic Direct-to-Consumer (D2C) Solution – (Part 1)

Meandering through the endless aisles at a local supermarket only to discover my favorite chips & dips were out of stock… again! Only if there was an option to seamlessly purchase (hybrid frictionless) them directly from the food & beverage manufacturing brand? Perhaps traditional food & beverage manufacturing brands too could benefit from building a holistic…

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Key touch points across typical shopper/customer retail journey

6 key Consumer Touch Points The number of touch points retailers will have with consumers / shoppers / customers will depend on several factors (business model, product range, complexity, omni-channel spread, etc.) Taking a simplified view, consumer journey typically traverses through the following 6 key phases (analogous with the Zero, First & Second moments of truth) Product Discovery: The touch point where consumers…

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To integrate supportive friction within shopper/consumer purchase experience or not?

To integrate supportive friction or not? For any retailer, the decision to integrate supportive friction (& how much of it) could broadly be based on a combination of 4 key factors – Read the full article

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Internet of Warranty could be the next big disruption!

“A thought struck me as I switched on my TV after a few days of hiatus… I’ve barely used the thing more than a few hrs./week on an average… yet it is Out of Warranty! …Now if only there was Internet of Warranty” We know that Warranty periods differ vastly by Manufacturers, Product categories, type,…

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Challenges facing traditional sales proposition (high-end/flagship/discretionary product category)

3 Challenges facing the traditional sales proposition (high-end/flagship/discretionary product category) Overall TV purchase experience hasn’t changed much over the years… entailing: Consumers walking into their nearest retailer / clicking online ➜ viewing in-store demo (model comparison) ➜ selecting the right TV(s) ➜ haggling / price matching (if applicable) ➜ paying by cash/credit card/ 3rd party…

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How an IoT button could enhance QSR Drive-Thru customer experience (Part 2)

This second segment briefly explores the IoT button design concept, user interface (UI) & experience (UX) and potential peripheral opportunities this concept may present to value chain partners in the long run The 2nd installment continues from the first segment that introduced the how the concept of an IoT button could enhance Drive-Thru experience for…

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Want to boost Premium TV sales? Take a page from the Smartphone Industry

Every time I wander through the TV section across various retailers; a similar thought surfaces – Whilst TV technology has certainly come a long way from my grandmother’s B&W 14″ CRT… it’s overall value proposition; particularly the purchase & ownership experience hasn’t seemed to change all that much! Surely the rapid commoditization of the broader…

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How smart bulbs help the assisted living

IoT devices & solutions that are ‘nice-to-have’ for some… could actually be ‘need-to-have’ for others! Consumer IoT – A tale of ‘nice-to-have’ vs. ‘need-to-have’ Consumer IoT products are akin to most other cyclic / discretionary product sets where the user’s purchase intent often has to pass the infamous ‘nice-to-have’ vs. ‘need-to-have’ test Where Smart Bulbs are…

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5 Emerging Trends – Smart Home Security

For the purposes of this post, Smart Home Security is a part of the broader Consumer Internet of Things (IoT) solutions; as opposed to Industrial IoT solutions 5 Emerging Trends 1. Smartphones & Apps are enabling adoption of simplified Home Security solutions Pop quiz: What does it take to build a basic home self-monitoring system? Answer:…

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Marketers – Which Millennial are you targeting?

The internet is abundant with Millennial related articles & studies; particularly their impacts on broader socio-economic changes to come The vast majority of these studies & articles we come across today seem to focus on the overall Millennial segment and their generalized attributes These include social causes, social media, spending behavior, environmental concerns, affinity towards shared economy and so on…

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Partnerships key to viable Connected Health solutions

So you’ve been hearing lately Analysts are predicting healthcare to be one of the largest vertical markets in the IoT/Connected space with CAGR of ~38% between 2015-2020; mobile health would become the fastest growing segment Usage Based Insurance (UBI) providers have said that an effective UBI solution has the potential to reduce claims cost by 40% …and many more M&A, Innovation and Optimization initiatives across the healthcare sector are…

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Robotics & Autonomous Solutions in Customer Facing Environment

Autonomous & Robotic solutions have been making human’s lives easier since a better part of the 20th century Industrial Robotics are the mainstay of Manufacturing, Logistics, Supply Chain & Warehousing industries who depend on their high precision, low error margins, cost effective alternative & ‘tireless’ operation relative to their human counterparts Adding to the long list of benefits are robots…

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Role VR/AR play in Retailer’s Digital Transformation

One of the most explored technology today is Virtual / Augmented Reality Both VR/AR aim to bring an immersive & interactive experience of the virtual world to the user in their own ways With VR, the user is ‘teleported’  into a virtual world wherein all of their interactions provide a ‘realistic feel’ with that fabricated environment With AR, users can interact with virtual objects in the real world around them In…

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12 Retail Facelifts

Physical Retail is not dead… …it is merely undergoing a facelift! According to PwC’s global survey, approximately 40% of consumers still make purchases in-store at least once a week, compared to just 27%  for it’s online counterpart Another research from eMarketer forecasts a significant growth of worldwide online purchase share from 5.9% in 2014 to 8.8% in 2018; yet it would…

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‘Loyally Rewarded’ – View on loyalty/reward programs (Part 1)

Loyalty/Reward Programs – Why? Acquisition vs. Retention studies say… statistically speaking the cost of acquiring new customers could be anywhere in the range of 5X – 15X vs. that of retaining existing ones – According to Bain & Co., 5% increase in customer retention can increase a company’s profitability by 75% – Gartner says that 80% of a company’s future revenue will come from…

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To beat ‘show-rooming’ effect… become a Showroom

Sounds oxymoronic right? But it is one of the numerous diversified strategies Retailers can adopt to actually beat the ‘Show-rooming’ effect (one where consumers visit physical retail stores only to purchase elsewhere online) We now know that product & in-person interactions are one of the best trump cards brick & mortar Retailers have  over their ‘e-commerce only’ counterparts… thus, it is imperative for Retailers to educate…

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