Retail World Conference- Melbourne, Australia

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Retail @ Hyperspeed- How the Internet of Everything is permanently changing consumer behavior in turning the retail world upside down. …

Retail @ Hyperspeed- How the Internet of Everything is permanently changing consumer behavior in turning the retail world upside down.

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  • *Build slide – 5 clicksNew silos and sources come inArrows come inPeople and arrows come inCommunication comes inCommunication Breakdown – drive me insane.
  • *Build slide – 5 clicksNew silos and sources come inArrows come inPeople and arrows come inCommunication comes inCommunication Breakdown – drive me insane.

Transcript

  • 1. Retail at Hyperspeed Ray Major Retail World Conference + Tradeshow 13th-14th May 2013 Melbourne, Australia How the Internet of Everything is permanently changing consumer behavior in turning the retail world upside down. Adapt or Die
  • 2. Long wave Economic Cycles Railway, Steel 1830-1880 Electrification 1880-1930 Automobiles Petrol 1930-1970 Tech Info. / Comm 1970-2010 Bio/nano tech 2010- 20xx Impact on Retail: • Gen. -> Dept. Store • Mass Distribution • Catalogs Impact on Retail: • National Brands • Chain Stores • Lights • Refrigeration Impact on Retail: • Supermarkets • Shopping Centers • Indoor Mall Impact on Retail: • Scanners • Analytics • Category Killers • Internet redefines retail • 70% on-liners make purchase
  • 3. Confluence of Technology • 2005 – Big Data • 2006 – Mass text • 2010 – HTML 5 • 2010 – iPad • 2012 --Internet of Things • 2015-- Internet of Everything
  • 4. The Road Ahead – Technology Convergence and the impact on Retail Memory and Space Wi-Fi and Network Mobile Access Database Technology Internet
  • 5. Today’s Priorities 84% of mobile users keep their device within 10 feet at all times. “Phones” move from discrete solution to an assumed part of daily life. Stops being a technology -- becomes “embedded” “assumed” and “integrated”
  • 6. 99% of the physical world is not connected to the internet The internet of EVERYTHING The Internet of Everything connects the Physical World to the Internet Using Microsensors, everyday objects become connected and intelligent Decisions happen in real time and in the background
  • 7. 0 10 20 30 40 50 2002 2007 2012 2017 The Internet of Things 50,000,000,000 things connected by 2020 More connected devices than people on earth
  • 8. Big Data o By 2015 o 1 Zettabyte of data will flow over the internet o By 2020 o Data Production up 44 fold o B2B and B2C internet transactions = 450 billion per day Earth  Pluto  Stack of books  20 times
  • 9. “Real-time” becomes “Real-time” o There are more mobile devices than people on earth o By 2016 – o Mobile Speed increases 9 fold o Mobile Traffic increases 18 fold o Home Network speeds increase 20 fold o video calling increases 25 fold o By 2020, anyone can broadcast anywhere, to anybody – on any device.
  • 10. The real value lies in the connection of People, Processes, data and things. A&M market needs fresh- fish I need another pair of shoes They’ll be home any minute with fish, light the Barbie The service technician is on his way Lower the prices on carrots, we have too many
  • 11. Smart World 2023
  • 12. • Missed or unidentified sales opportunities • Inefficient geographic selling • Inflexible product lines • Lost sales due to shifting competitive pressures and poor timing • Little holistic assessment of a customers wants and needs Today’s Retailing Challenges Today - 2013
  • 13. I.O.E. applied to BI
  • 14. IoE Analytic Framework Identify Design Inform Distribute
  • 15. Identify at Hyperspeed Identify
  • 16. Massive amounts of new data
  • 17. Data from Consumers impacts brand awareness and cache’ 1. Scan 2. Track 3. Rate 4. Review
  • 18. Consumer are Empowered in Real Time
  • 19. Retailing occurs in real time
  • 20. Design at Hyperspeed Identify Design
  • 21. Most companies BI CRM POS
  • 22. CRM POS Not Easy Your Business Intelligence Assets
  • 23. Cluster Analysis Simulation Modeling Regression Analysis Descriptive Statistics Prescriptive (what actions should be taken) Prediction (What might happen) Forecasting (What might happen) Monitoring (what’s happening now) Analysis (why did it happen) Analytic Continuum High Low Complexity Business Value Reporting (what happened) Behavioral Questions  “Who are my best customers? Where do they live? What is their most likely next purchase? Quantity Questions  How much inventory do we need to carry? What stock levels will be left at the EOM? What will Sales finish at this year? Optimal Outcome Questions  (potential outcomes based on complex interactions) How can we achieve the best outcome? What is the impact of a cold winter on our business?
  • 24. Inform at Hyperspeed Identify Design Inform
  • 25. Situational Intelligence Geo-location based analysis Context Aware Application Natural Language Queries Predictive Analytics Hal o Sour ce
  • 26. Business Intelligence Systems
  • 27. Distribute at Hyperspeed Identify Design Inform Distribute
  • 28. Distribute at Hyperspeed Distribute
  • 29. New Retailing - Big Data and Personalization • Bridge between online and Brick-and mortar • SEAMLESS SHOPPING EXPERIENCE • Personalization • Recognize who you are • Personalized promotional offer • Knows your favorite fit and size • Match transaction to buying patterns • Issue incentive
  • 30. Expert Advice
  • 31. Personal Shopper
  • 32. Hyperspeed Cross-sell
  • 33. • Missed or unidentified sales opportunities • Inefficient geographic selling • Inflexible product lines • Lost sales due to shifting competitive pressures and poor timing • Little holistic assessment of a customers wants and needs • Increased sales from real-time market assessments and reactions • Increased selling from location- based selling • Increased sales from better use of internet driven segments • Increased sales by directly tying pricing to current selling situations to customer ability to pay • Increased sales from improved coordination with other products and services Potential of the Internet of Everything Today - 2013 Tomorrow - 2023
  • 34. Retail at Hyperspeed Ray Major Retail World Conference + Tradeshow 13th-14th May 2013 Melbourne, Australia Thank You !