As the COVID-19 pandemic has swept across the world, it has impacted almost every aspect of the retail industry, accelerating existing trends and giving rise to new trends in the industry.
These impacts can be divided into two categories: the point of sale and the underlying supply chain. We can think of the point of sale, whether it's a brick-and-mortar store or a website, as the front end of a retail operation, with the supply chain as the corresponding back end.
The European apparel market is undergoing a period of profound transformation. The impact of Covid-19 sent shockwaves throughout the global economy, dislocating international supply chains and reshaping the way consumers live, work, communicate and shop.
We all know that the same survival of most Retail businesses, especially in the Fashion&Luxury field, is now at risk but why?
Is Covid-19 the real cause of this disruption or is this pandemic more of an accelerator of these radical changes?
But, most importantly, what can our firms do to tackle the most dangerous crisis they have ever faced and reinvent their business model?
I have tried to answer all these questions with a deep analysis of the Fashion Retail Business and the suggestion of a set of solutions that will help both SMEs and traditional Retailers to bridge the gap with their competitors transforming this crisis into an opportunity.
What Ecommerce Trends are Emerging During Covid-19 and How to Follow Them?Softpulse Infotech
The Covid-19 pandemic has been the worst economic crisis witnesses by businesses worldwide. Through this document, we have tried to guide the eCommerce merchants to get through the crises with a few of the leading eCommerce trends. Implement these strategies for your business to get the best business benefits.
The crisis associated with COVID-19 is changing the e-commerce market. In just a few weeks, we have found ourselves in a completely new reality. For some, the pandemic is a chance for business development and gaining new market segments; for others, it has become a dramatic struggle for survival.
That's why our Codest experts dived into the market, analyzed available data, and prepared our own analysis and tips for all e-commerce companies which are struggling to win the battle with COVID-19. We released the report that is must-read for the whole industry (and not only!). It will help you understand better the current situation on the market and inspire you how to turn a threat into a success.
Online shopping in FMCG (based on Comeos eCommerce research), presented by Sophie Van Neck (Senior Research Manager at InSites Consulting) on Wednesday October 8, 2014 at UBA Expertise Center Research Panels.
The European apparel market is undergoing a period of profound transformation. The impact of Covid-19 sent shockwaves throughout the global economy, dislocating international supply chains and reshaping the way consumers live, work, communicate and shop.
We all know that the same survival of most Retail businesses, especially in the Fashion&Luxury field, is now at risk but why?
Is Covid-19 the real cause of this disruption or is this pandemic more of an accelerator of these radical changes?
But, most importantly, what can our firms do to tackle the most dangerous crisis they have ever faced and reinvent their business model?
I have tried to answer all these questions with a deep analysis of the Fashion Retail Business and the suggestion of a set of solutions that will help both SMEs and traditional Retailers to bridge the gap with their competitors transforming this crisis into an opportunity.
What Ecommerce Trends are Emerging During Covid-19 and How to Follow Them?Softpulse Infotech
The Covid-19 pandemic has been the worst economic crisis witnesses by businesses worldwide. Through this document, we have tried to guide the eCommerce merchants to get through the crises with a few of the leading eCommerce trends. Implement these strategies for your business to get the best business benefits.
The crisis associated with COVID-19 is changing the e-commerce market. In just a few weeks, we have found ourselves in a completely new reality. For some, the pandemic is a chance for business development and gaining new market segments; for others, it has become a dramatic struggle for survival.
That's why our Codest experts dived into the market, analyzed available data, and prepared our own analysis and tips for all e-commerce companies which are struggling to win the battle with COVID-19. We released the report that is must-read for the whole industry (and not only!). It will help you understand better the current situation on the market and inspire you how to turn a threat into a success.
Online shopping in FMCG (based on Comeos eCommerce research), presented by Sophie Van Neck (Senior Research Manager at InSites Consulting) on Wednesday October 8, 2014 at UBA Expertise Center Research Panels.
HOW DO YOU STEP-UP YOUR DIGITAL TRANSFORMATION & RECOVERY CHANCES IN THE POST...Jim Boukouray, PhD
According to #McKinsey’s latest report, revenues for the global fashion industry (apparel and footwear sectors) will contract by 27 to 30 percent in 2020 year-on-year, although the industry could regain positive growth of 2 to 4 percent in 2021. For the personal luxury goods industry (luxury fashion, luxury accessories, luxury watches, fine jewelry, and high-end beauty), we estimate a global revenue contraction of 35 to 39 percent in 2020 year-on-year, but positive growth of 1 to 4 percent in 2021.
Hence, the importance of this retail survival guide which sums-up the best contingency plans and strategies for the disruptive age.
If you have missed our preemptive thinking articles, surveys and interviews on how to turn COVID-19 into a 5.0 Accelerator, here is your chance to grab a courtesy copy of our latest blog and sign-up for our newsletters at https://multidev.com/blog/
The health crisis and the unprecedented disruption caused by COVID-19 have had profound impacts on economies, businesses and consumers worldwide, changing the way consumers live, work and shop.
Uncertainty remains high, but what is clear is that economies will not emerge unscathed and the daily routines and lifestyles of consumers will shift to accommodate continued social distancing. Whilst treatment and vaccine options are investigated, and potentially into the longer term, a new normal will emerge, as fears of a pandemic or other destructive events remain palpable.
The power of Chinese e-consumption is unstoppable despite the slowing economy and is estimated to reach 9.6 Trillion RMB by 2020. This sheer magnitude alone is the main reason why we are now taking a spotlight on China’s E-commerce industry.
The Future of eCommerce en FMCG (Fast Moving Consumer Goods) 2017Marcos Pueyrredon
In 2025, online FMCG will have grown from 4.6% to 10%. The fourth edition of the Kantar Worldpanel e-commerce report con rms that online grocery remains the hottest topic in FMCG retail. It is no longer a question of whether it is here to stay; the digital world is now so ubiquitous that it has become a normal part of consumer shopping behaviour.
Traemos un #research realizado a nivel #mundial durante el #brote de #COVID19 sobre cómo afectará al futuro #comprador y la importancia que tiene el #online en este nuevo panorama.
Puedes leerlo aquí
The COVID-19 pandemic has made healthcare radically more digital. To reduce infection risks, many healthcare services that previously required co-location have rapidly moved online. The Chinese government transitioned 50% of their healthcare tasks online during the epidemic. The UK’s National Health Service (NHS) selected eleven suppliers to provide video consultations for primary care after a 48-hour tender. Dramatic changes to healthcare regulation and delivery that normally take years are unfolding in mere days.
Smart digital solutions for home and telecare can improve the reach and effectiveness of modern healthcare systems and reduce cost. They may also widen the digital divide and overburden patients and clinicians.
In this webinar, Implement and ustwo will explore how a patient-centric approach to digital healthcare can go beyond triage and improve outcomes and efficiency.
How retailers are preparing for the post-coronavirus recoveryHeather Hanselman
April 2020 survey findings suggest that retail executives expect a delayed rebound of traffic once stores reopen, a persistent increase in e-commerce penetration, and changes to store operating models and procedures. For more information, see https://www.mckinsey.com/industries/retail/our-insights/how-retailers-are-preparing-for-the-post-coronavirus-recovery
Sample Report: Latin America Online Payment Methods 2020 & COVID-19's Impact ...yStats.com
Questions Covered in the report:
- What are the leading E-Commerce payment methods in Latin America?
- How does the COVID-19 pandemic influence the development of digital payments in this region and worldwide?
- How high is mobile payment user penetration in Latin America predicted to be by 2023?
- Which mobile payment apps are used by consumers in Argentina, Brazil and Mexico?
- What was the size of payment transactions processed by Mercado Libre in 2019?
Full report here: https://bit.ly/3L925nR
Guidebook: 9 coronavirus challenges at retail - field agentField Agent
How specifically is COVID-19 disrupting the retail industry, and what can companies do to fight back? The guidebook, “9 Coronavirus Challenges At-Retail…and How to Overcome Them,” explores both questions.
7-Step D2C Distribution Takeover Approach | FlowprimeFlowprime
Find out how to take over your direct-2-customer distribution and stop being dependent on 3PLs. Flowprime has developed a 7-step strategy for D2C-proof warehouses:
1. Increase picking efficiency by selecting an optimal method for each process.
2. Enable continuous delivery creation.
3. Group orders that should be processed alike.
4. Build a fast lane through your warehouse.
5. Allow real flexibility & transparency for customers.
6. Accelerate the outflow with a pack-and-go process.
7. Build a complete returns process in the warehouse.
Contact us now and we will give you one free consultation:
ARNULF HORNBACH
+49 152 536 742 54
info@flowprime.de
www.flowprime.de
HOW DO YOU STEP-UP YOUR DIGITAL TRANSFORMATION & RECOVERY CHANCES IN THE POST...Jim Boukouray, PhD
According to #McKinsey’s latest report, revenues for the global fashion industry (apparel and footwear sectors) will contract by 27 to 30 percent in 2020 year-on-year, although the industry could regain positive growth of 2 to 4 percent in 2021. For the personal luxury goods industry (luxury fashion, luxury accessories, luxury watches, fine jewelry, and high-end beauty), we estimate a global revenue contraction of 35 to 39 percent in 2020 year-on-year, but positive growth of 1 to 4 percent in 2021.
Hence, the importance of this retail survival guide which sums-up the best contingency plans and strategies for the disruptive age.
If you have missed our preemptive thinking articles, surveys and interviews on how to turn COVID-19 into a 5.0 Accelerator, here is your chance to grab a courtesy copy of our latest blog and sign-up for our newsletters at https://multidev.com/blog/
The health crisis and the unprecedented disruption caused by COVID-19 have had profound impacts on economies, businesses and consumers worldwide, changing the way consumers live, work and shop.
Uncertainty remains high, but what is clear is that economies will not emerge unscathed and the daily routines and lifestyles of consumers will shift to accommodate continued social distancing. Whilst treatment and vaccine options are investigated, and potentially into the longer term, a new normal will emerge, as fears of a pandemic or other destructive events remain palpable.
The power of Chinese e-consumption is unstoppable despite the slowing economy and is estimated to reach 9.6 Trillion RMB by 2020. This sheer magnitude alone is the main reason why we are now taking a spotlight on China’s E-commerce industry.
The Future of eCommerce en FMCG (Fast Moving Consumer Goods) 2017Marcos Pueyrredon
In 2025, online FMCG will have grown from 4.6% to 10%. The fourth edition of the Kantar Worldpanel e-commerce report con rms that online grocery remains the hottest topic in FMCG retail. It is no longer a question of whether it is here to stay; the digital world is now so ubiquitous that it has become a normal part of consumer shopping behaviour.
Traemos un #research realizado a nivel #mundial durante el #brote de #COVID19 sobre cómo afectará al futuro #comprador y la importancia que tiene el #online en este nuevo panorama.
Puedes leerlo aquí
The COVID-19 pandemic has made healthcare radically more digital. To reduce infection risks, many healthcare services that previously required co-location have rapidly moved online. The Chinese government transitioned 50% of their healthcare tasks online during the epidemic. The UK’s National Health Service (NHS) selected eleven suppliers to provide video consultations for primary care after a 48-hour tender. Dramatic changes to healthcare regulation and delivery that normally take years are unfolding in mere days.
Smart digital solutions for home and telecare can improve the reach and effectiveness of modern healthcare systems and reduce cost. They may also widen the digital divide and overburden patients and clinicians.
In this webinar, Implement and ustwo will explore how a patient-centric approach to digital healthcare can go beyond triage and improve outcomes and efficiency.
How retailers are preparing for the post-coronavirus recoveryHeather Hanselman
April 2020 survey findings suggest that retail executives expect a delayed rebound of traffic once stores reopen, a persistent increase in e-commerce penetration, and changes to store operating models and procedures. For more information, see https://www.mckinsey.com/industries/retail/our-insights/how-retailers-are-preparing-for-the-post-coronavirus-recovery
Sample Report: Latin America Online Payment Methods 2020 & COVID-19's Impact ...yStats.com
Questions Covered in the report:
- What are the leading E-Commerce payment methods in Latin America?
- How does the COVID-19 pandemic influence the development of digital payments in this region and worldwide?
- How high is mobile payment user penetration in Latin America predicted to be by 2023?
- Which mobile payment apps are used by consumers in Argentina, Brazil and Mexico?
- What was the size of payment transactions processed by Mercado Libre in 2019?
Full report here: https://bit.ly/3L925nR
Guidebook: 9 coronavirus challenges at retail - field agentField Agent
How specifically is COVID-19 disrupting the retail industry, and what can companies do to fight back? The guidebook, “9 Coronavirus Challenges At-Retail…and How to Overcome Them,” explores both questions.
7-Step D2C Distribution Takeover Approach | FlowprimeFlowprime
Find out how to take over your direct-2-customer distribution and stop being dependent on 3PLs. Flowprime has developed a 7-step strategy for D2C-proof warehouses:
1. Increase picking efficiency by selecting an optimal method for each process.
2. Enable continuous delivery creation.
3. Group orders that should be processed alike.
4. Build a fast lane through your warehouse.
5. Allow real flexibility & transparency for customers.
6. Accelerate the outflow with a pack-and-go process.
7. Build a complete returns process in the warehouse.
Contact us now and we will give you one free consultation:
ARNULF HORNBACH
+49 152 536 742 54
info@flowprime.de
www.flowprime.de
Digitization of Telecom and Smartphone Business: Post-COVID-19 Effects on the...ELEKS
"Digitization of Telecom and Smartphone Business: Post-COVID-19 Effects on the Industry" by Haroon S Khan, Founder & Chairman, SANSO.
The topic covers:
— The need for Digitalization of Telecom/Smartphone Business;
— Pros & Cons;
— Trend Changing;
— Post COVID-19 Effects forecast for the businesses in Telecom;
— Human & Digital world interaction especially in these days
these would be base points mainly;
— Digital currency and its need in this era of digitalization.
Online business and covid 19 benefits & challenges term-paper-ob-group-09MdAsifRaihan
Online Business and COVID-19 Benefits & Challenges
Contributors:
Md. Asif Raihan 801827004
Md. Sabriat Hossain 801827049
Md. Zahidul Alam Bhuiyan 801827055
Kazmee Al Faruk Chowdhury 801827062
Supervised by:
Dr. Muhammad Shahin Miah, CPA
Assistant Professor
Department of International Business
University of Dhaka
What is likely to outnumber the billions of human beings on planet earth over the next few years? The answer: mobile devices. While mobile devices have been around for several yea rs, there are two categories that have resulted in the explosive growth in this industry especially over the last two or three years – smartphones and tablets i .
This slideshare is about the current environment in the luxury and fashion industries due to Covid-19 including accelerating trends, interesting initiatives launched by companies across industries, challenges and opportunities faced, and resulting calls-for-action.
GroupM’s The Great Shift 2020 details the shift caused by the pandemic in four major sectors (Auto, CPG & E-comm, Telecom and Financial Services) and another (Entertainment) where the industry has gone through significant change and, as a result, we must alter the way we think of them as sources of inventory.
Retail business pains and UNIT4 solutions UNIT4 UK
Retailers operate in a constantly changing landscape influenced by shifts in competition, technology and customer expectations.
UNIT4's record of working with big names in UK and global retail has helped us develop solutions that address these issues.
This short presentation sets out what we see as some of the main challenges retailers face and how we can help you overcome them.
As the world is slowly reopening, we have decided it is time to say goodbye to our weekly newsletters. But not before we put out a last issue, in which we attempt to make a kind of guide that businesses, and marketing professionals could use to be more effective in their marketing communications while navigating the looming recession. Because the aftermath of Covid-19 will probably be a long-term global crisis. And very few people are able to assess, based on the learnings of past recessions, the fundaments of managing a brand successfully through an economic crisis as well as Les Binet, Group Head of Effectiveness at adam&eveDDB and globally acclaimed advertising effectiveness expert. We hope you find his thoughts as useful as we did.
Ordinarily, we don’t expect perfectly good airplanes to fall out of the sky for no reason. When it happens, and it turns out that the reason was carelessness or a failure to act reasonably, then the tort of negligence may apply. All persons, as established by state tort law, have the duty to act reasonably and to exercise a reasonable amount of care in their dealings and interactions with others. Breach of that duty, which causes injury, is negligence. Negligence is distinguished from intentional torts because there is a lack of intent to cause harm. If a pilot intentionally crashed an airplane and harmed others, for example, the tort committed may be assault or battery. When there is no intent to harm, then negligence may nonetheless apply and hold the pilot or the airline liable, for being careless or failure to exercise due care.
THE NEXT INDUSTRIAL REVOLUTION. HOW E-COMMERCE IS TRANSFORMING B2BCEO Magazyn Polska
Forrester Research estimates that cross-border B2B e-com-
merce transactions will reach US $1.2 trillion by 2021.1
With the advent of the internet and digitalization, the
opportunity for companies to boost revenues by tapping
global markets and to drive down costs through greater
efficiency has also opened up new prospects for earnings
growth. This huge potential is forcing B2B companies to
adapt their supply chains to be more like a business-to-
consumer (B2C) channel i.e. flexible, agile, scalable, quick-
er, mobile and global. More significantly, digitally-aware
B2B customers are expecting ‘Amazon-like’ experiences
including seamless commercial transactions when buy-
ing, receiving and returning products.2 Businesses have
shifted their purchasing research and transaction activi-
ties towards online3 especially when customer expecta-
tions for a full spectrum of services and support that are
hosted online have continued to increase.4 Despite these
customer expectations, there are fundamental differences
between B2B and B2C commercial transactions which
need to be understood and managed.
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
Software Delivery At the Speed of AI: Inflectra Invests In AI-Powered QualityInflectra
In this insightful webinar, Inflectra explores how artificial intelligence (AI) is transforming software development and testing. Discover how AI-powered tools are revolutionizing every stage of the software development lifecycle (SDLC), from design and prototyping to testing, deployment, and monitoring.
Learn about:
• The Future of Testing: How AI is shifting testing towards verification, analysis, and higher-level skills, while reducing repetitive tasks.
• Test Automation: How AI-powered test case generation, optimization, and self-healing tests are making testing more efficient and effective.
• Visual Testing: Explore the emerging capabilities of AI in visual testing and how it's set to revolutionize UI verification.
• Inflectra's AI Solutions: See demonstrations of Inflectra's cutting-edge AI tools like the ChatGPT plugin and Azure Open AI platform, designed to streamline your testing process.
Whether you're a developer, tester, or QA professional, this webinar will give you valuable insights into how AI is shaping the future of software delivery.
Securing your Kubernetes cluster_ a step-by-step guide to success !KatiaHIMEUR1
Today, after several years of existence, an extremely active community and an ultra-dynamic ecosystem, Kubernetes has established itself as the de facto standard in container orchestration. Thanks to a wide range of managed services, it has never been so easy to set up a ready-to-use Kubernetes cluster.
However, this ease of use means that the subject of security in Kubernetes is often left for later, or even neglected. This exposes companies to significant risks.
In this talk, I'll show you step-by-step how to secure your Kubernetes cluster for greater peace of mind and reliability.
The Art of the Pitch: WordPress Relationships and SalesLaura Byrne
Clients don’t know what they don’t know. What web solutions are right for them? How does WordPress come into the picture? How do you make sure you understand scope and timeline? What do you do if sometime changes?
All these questions and more will be explored as we talk about matching clients’ needs with what your agency offers without pulling teeth or pulling your hair out. Practical tips, and strategies for successful relationship building that leads to closing the deal.
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using Deplo...James Anderson
Effective Application Security in Software Delivery lifecycle using Deployment Firewall and DBOM
The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
Robert Boule is a technology enthusiast with PASSION for technology and making things work along with a knack for helping others understand how things work. He comes with around 20 years of solution engineering experience in application security, software continuous delivery, and SaaS platforms. He is known for his dynamic presentations in CI/CD and application security integrated in software delivery lifecycle.
Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024Tobias Schneck
As AI technology is pushing into IT I was wondering myself, as an “infrastructure container kubernetes guy”, how get this fancy AI technology get managed from an infrastructure operational view? Is it possible to apply our lovely cloud native principals as well? What benefit’s both technologies could bring to each other?
Let me take this questions and provide you a short journey through existing deployment models and use cases for AI software. On practical examples, we discuss what cloud/on-premise strategy we may need for applying it to our own infrastructure to get it to work from an enterprise perspective. I want to give an overview about infrastructure requirements and technologies, what could be beneficial or limiting your AI use cases in an enterprise environment. An interactive Demo will give you some insides, what approaches I got already working for real.
Encryption in Microsoft 365 - ExpertsLive Netherlands 2024Albert Hoitingh
In this session I delve into the encryption technology used in Microsoft 365 and Microsoft Purview. Including the concepts of Customer Key and Double Key Encryption.
Smart TV Buyer Insights Survey 2024 by 91mobiles.pdf91mobiles
91mobiles recently conducted a Smart TV Buyer Insights Survey in which we asked over 3,000 respondents about the TV they own, aspects they look at on a new TV, and their TV buying preferences.
Smart TV Buyer Insights Survey 2024 by 91mobiles.pdf
COVID-19: Retail Impacts
1. COVID 19: Retail Impacts
By Sachin Jain and Michael Tan
Introduction
As the COVID-19 pandemic has swept across the world, it has impacted almost every aspect of
the retail industry, accelerating existing trends and giving rise to new trends in the industry.
These impacts can be divided into two categories: the point of sale and the underlying supply
chain. We can think of the point of sale, whether it’s a brick-and-mortar store or a website, as the
front end of a retail operation, with the supply chain as the corresponding back end.
The Front and Back Ends of Retail
The front end is changing faster than ever. While
the front end once exclusively meant
brick-and-mortar storefronts, e-commerce
penetration is now at an all time high. COVID-19
has supercharged the growth in e-commerce —
from 2019 to 2020, e-commerce’s share of total
retail sales grew from 11% to 14.5%, a 32%
change.
Meanwhile, the back end is more important than
ever as the digitalization of retail is accelerated by
COVID-19. Supply chain management
encompasses activities spanning from
manufacturing goods to customer delivery. Both
small businesses and large enterprises must source
raw materials and components, manufacture & deliver goods, and manage return and customer
service processes. Traditionally, operational efficiency comes from experience dealing with
trial-and-error. While this is still the case, technology is steadily automating away inefficiencies
in exchange for data-driven and robust components to growing supply chains.
As global retail grows from $25T and e-commerce rapidly increases its share of that market to
over 14%, both the front end and the back end are well positioned for innovation and
investment[1]
.
2. Overview of Problems Facing Retailers
In the next section, we detail six trends and business problems in the retail space that have gained
importance in our post-COVID world. We label each problem with:
1. A priority designation (low, medium, or high) depending on how critical it is to retailers
2. An estimation of the size of the problem in dollars
3. A stickiness designation (low, medium, or high) depending on how persistent the
problem will be after COVID-19 has run its course
4. An indication on whether the problem was caused directly by COVID (versus if it had
any significance before COVID)
Below is a chart that summarizes each problem along with their designations.
3. Pre-existing Trends & Business Problems (Before COVID)
Before the disruption of COVID-19, certain industry trends already existed. These trends were
selected and sorted by identifying the largest problems in retail and supply chain management
both by the cost of the problem and the stickiness of potential solutions.
P2: Retailers need efficient distribution channels robust to disruption both
between warehouses and to end-consumers
P3: Retailers need to maintain a brand image at each step of the customer
experience
P4: Retailers need properly stocked inventory and stores to avoid potential losses
or customer confusion
P5: Retailers need automated methods for projecting demand and profit
optimization models
Trends and Business Problems Emerging from COVID
Coronavirus revealed the inability of many retail stores to maintain advisable health practices,
and the inability of supply chains to handle disruption.
P1: Customers do not want to go into stores due to infection risk and other
potential factors
P6: Retailers need to ensure the safety of workers and employees
Trends P1 and P6 are new trends that arose amidst the current crisis. Additionally, Trends P2 and
P5 are existing trends that have been significantly accelerated due to COVID-19.
Moving forward, our analysis will be based on the rankings of problems, solutions, and startups
we identified and sorted using a variety of factors. As seen above, the number following P
represents the problem’s determined rank in importance (P1 is the most important problem, P6
the least). Solutions and startups will be similarly sorted and notated.
4.
Problems
P1: Retailers must adjust in-store offerings to adapt to customers avoiding stores due to
infection risk
Priority: HIGH Size: $10B - $100B Stickiness: LOW
One of the most immediate and apparent impacts of the COVID-19 pandemic is that
brick-and-mortar stores have become no-go zones for customers seeking to minimize infection
risk. Customers seek to minimize contact and proximity with other people, and as a result
brick-and-mortar stores have gone from busy hubs where hundreds of people can congregate at a
time to places to be avoided. In a survey of over 1,000 U.S. consumers in March, 57% said they
are doing more shopping online as opposed to in-store because of COVID-19.[2]
While retailers’ immediate responses have been to increase their online, delivery, and in-store
pickup offerings, in the long term, retailers will also need to adjust their in-store offerings in a
post-pandemic world. Customers will become more health-conscious, as COVID-19 has shown
that indoor places with high densities of people are ideal settings for disease to propagate.
To identify the opportunities for investment into startups solving this problem, we looked into
the tailwinds that existed both before and after COVID-19. First, stores will increasingly adopt
contactless payment methods to increase customer convenience and decrease infection risk.
Second, retailers can adopt robot/autonomous sanitation solutions to increase cleanliness and free
up time for human workers. Third, stores can implement in-store traffic monitoring platforms
that can help inform both health and shelf stocking decisions.
Solutions
S1: Contactless Payments and Autonomous Stores (Market Size: $4.0 bn)
View: Retailers are looking to improve the customer experience, decrease costs,
and mitigate infection risk for shoppers. Contactless payment systems and
autonomous stores effectively address all three of these needs.
Strengths: Contactless payment systems reduce points of contact between people
to decrease infection risk while also increasing convenience for shoppers. A truly
autonomous store (such as Amazon Go), where shoppers can make purchases by
simply walking out of the store with an item in hand, have even more benefits. In
this case, retailers can also save on the cost of operations (decreased wage
expense from having to hire fewer checkout personnel). Contactless stores can
5. also bring in more revenue — “Amazon's cashierless concept brings in about 50
percent more revenue on average than typical convenience stores.”[3]
Weaknesses: Installing contactless systems is expensive (barrier to adoption), and
creating a contactless store generally requires a wholesale shift in operations for a
given store. This solution only addresses infection risk at the checkout stage, but
many customers can still be together in the store at the same time.
Relevant Startups:
Inokyo: uses ceiling
cameras to create an
autonomous store
AIFI: uses RGB
cameras to create an
autonomous store
Standard Cognition:
uses cameras to create
an autonomous store
S2: Robot Sanitation (Market Size: $2.5 bn)
View: Robots offer an effective solution for sanitizing germ-filled surfaces,
making in-store shopping more hygienic and freeing up time for employees.
Strengths: Robot sanitation ameliorates the health situation in a store and reduces
the cost of operations (less money spent on wages as robots can replace workers).
Employees can be more efficient if menial cleaning tasks are handled by robots.
Robot cleaning has already seen adoption in the home space already (Roomba).
Weaknesses: Implementing a robot sanitation system requires significant capital
expenditure and behavior change.
Relevant Startups:
Xenex: robot uses pulsed xenon UV
to kill germs
Brain Corp:robot navigates stores
and cleans surfaces
6.
S3: Monitoring In-Store Traffic (Market Size: $3.0 bn)
View: Many stores that are open restrict the number of people who can be in the
store at the same time for the sake of public safety — rather than relying on
employees to manually count how many people have entered and exited and make
sure people aren't too close together, technology can be used.
Strengths: In addition to helping to monitor customer density, having a real-time
traffic monitoring system has the added benefit of allowing for optimization of
shelf placement based on foot traffic.
Weaknesses: The need for monitoring customer density for health reasons may
fade post-COVID, and tracking foot traffic can come with privacy concerns.
Relevant Startups:
Indyme: provides retail companies
with sensing devices and software that
help sense customer inactions and
prevent shrinkage
Density:Accurately measure & monitor the
density of people in a space without
violating privacy
P2: Retailers need efficient distribution channels robust to disruption both between
warehouses and to end-consumers
Priority: HIGH Size: $10B - $100B Stickiness: HIGH
Customers are beginning to rely more heavily on
e-commerce for both one-off purchases and weekly grocery
runs. Retailers and grocers need to ensure their customers
can pick up their goods or have them delivered quickly.
With recent and persistent demand spikes, delivery slots
become congested and limited work staff constrain delivery
both between warehouses and to end-consumers.
Additionally, companies compete with each other to bring
7. down shipping time for customers, ultimately moving towards same-day shipping.
“Unless a retailer has its own last-mile delivery capability, I don't see it being able
to do much other than setting expectations with its customers that delivery times
will be longer. Even a company like Amazon can't keep up—and it owns
thousands of last-mile delivery trucks.”
- James Thomson, partner at Buy Box Experts and former business
head of Amazon Services[4]
Retailers will move in the following directions as a result of this shock. First, supply chains are
going to become more localized so supply chains can function independently. Second, rail and
road freight shipping will become even more integral to transportation than before. Lastly, the
pace of automation is going to quickly pick up as automated vehicles result in faster shipping
times and less potential for accidents or disruption.
Solutions
S1: Autonomous and Smart Vehicles (Market Size: $54.23 bn)
View: Retailers are looking to pay less and provide faster delivery times, so
autonomous and smart vehicles provide the best opportunities to do so. Last-mile
and freight delivery have seen significant attention before COVID-19.
Strengths: Retailers save money on drivers and insurance because of reduced
chance for mistakes and drivers getting sleepy or sick. Also, faster delivery times
are facilitated because shipments can be made at any time, in any condition.
Weaknesses: There are still regulatory concerns about whether self-driving
technology will be immediately adopted across the country or world.
Additionally, it presents a much higher barrier to entry and adoption than other
non-hardware solutions.
Relevant Startups:
Nuro: using autonomous vehicles to
deliver goods to consumers
Embark Trucks: self-driving truck
technology to move freight
8. S2: Return Management Platform (Market Size: $8.00 bn)
View: One bad return experience can convert a loyal customer to another brand,
and churn kills businesses. A streamlined returned management platform that
enables consolidation, refurbishment, local redistribution, etc. strengthens a
brand’s appeal and removes operational inefficiencies.
Strengths: Increased customer satisfaction results in more repeat customers that
brands can upsell and cross sell similar to B2B SaaS platforms. Additionally, a
return management platform significantly reduces lead time.
Weaknesses: Replacing and transferring any existing infrastructure (texting,
Excel, etc.) is difficult across multiple departments and locations.
Relevant Startups:
ZigZag Global: retail and return
management software platform
Narvar: leader in customer
experience and return delivery
management
S3: Predictive Analytics & Shipping (Market Size: $10.95 bn)
View: Predictive analytics can consider variables like weather, social media
trends, sensor data, etc. to more accurately determine supply and demand.
Retailers can use this information to design more advanced pricing models to
maximize profit throughout the year and not be dependent on cycles. Predictive
shipping enables retailers to move stock towards where it will be needed the most
based on historical data, bringing down storage cost and delivery time.
Strengths: More focused statistic-driven decision making allows for retailers to
account for a variety of possible situations and prepare accordingly. Increased
demand accuracy drives profit in addition to minimizing inventory storage costs
of excess stock.
9.
Weaknesses:Predictive analytics must be integrated heavily into existing
infrastructure to deliver accurate predictions. Additionally, some industries
experience unpredictable demand or supply shifts that cannot be reasonably
predicted.
Relevant Startups:
Krunchbox: point-of-sale
data analytics for wholesalers
Alloy: supply chain and
sales visibility for consumer
goods brands
Unioncrate: AI supply
chain platform &
predictive analytics
P3: Retailers need to maintain a brand image at each step of the customer experience
Priority: HIGH Size: > $100B Stickiness: HIGH
Retailers spend millions of dollars to craft
well-defined brand images that effectively reflect the
wants and needs of their consumer base. However,
one bad experience or a handful of bad reviews can
both lose highly valuable loyal customers as well as
drive away new customers. According to Accenture
Strategy, $1.6 trillion is lost due to customer
switching due to poor customer service.[5]
Brand image begins at a customer’s first interaction
with a retailer, such as a targeted YouTube ad, and
can end with the delivery of the good or service, such
as the installation of a piece of furniture. Physical retailers must also manage the large amounts
of front-line workers that interact with customers daily.
Today, consumers want to be tailored to and expect frictionless experiences when interacting
with a business both online and in-person. This means quality advertising, ease of acquiring
information about products, transparency about shipments and service, positive delivery and/or
installation experience, and finally high quality customer service at each step of the way. These
expectations are met through the integration of technology within front-line workforce
operations and persistent performance evaluations to identity points of friction.
10. Solutions
S1: Performance Management (Market Size: $7.22 bn)
View: Granular data can be collected at each step of the supply chain, so KPIs can
similarly become more specific. The performance evaluation process can become
more frequent. Such analysis can identify disruptions in a supply chain quickly
and root causes for such disruptions can be found and solved faster.
Strengths: Retailers can identity and fix any friction in the supply chain
distribution quickly. Also, performance management enables retailers to optimize
for and reward good metrics and behaviors of their frontline operations.
Weaknesses: Successful performance management will track KPIs at each stage
of the supply chain. However, if this process of collecting data produces
inefficiencies such as having to fill out a form each time or large infrastructural
changes, the cost of implementation can rise.
Relevant Startups:
Lattice: leading people
management platform
Ally: OKR software
designed for remote teams
Betterworks: OKR
software focused on
alignment and transparency
S2: Operations & Workflow Platforms (Market Size: $7.83 bn)
View: Frontline workers can often spend over three hours each week looking for
information. Operations platforms would benefit non-desk workforce personnel
stay connected to operations systems with daily communication channels for
updates, questions, etc.
Strengths: Less time looking for information about products, time-sheets, events,
etc. means more time being productive and aware. Additionally, when
information is clear, both employee and customer satisfaction increases.
11. Weaknesses: Replacing and transferring any existing infrastructure (texting,
Excel, etc.) is difficult across multiple departments and locations. Additionally,
such a platform would have to operate on the expectation that each employee has
a WiFi-enabled device available at any time, which may not always be the case.
Relevant Startups:
Beekeeper: workplace app that
connects the non-desk workforce to
operational systems and
communication channels
15Five: cloud-based software
designed to evaluate and improve
employee performance
S3: Learning Management Systems (Market Size: $3.73 bn)
View: Retailers should have consistent LMS to train employees or contractors.
For example, customer service representatives should have guides for how to
manage phone calls from customers about their order, different product lines, etc.
Delivery and installation personnel should have a protocol for handling different
situations (customer isn't home, entering households, etc.).
Strengths: Employees, contractors, and customer service representatives
following the same protocol encourages repeat customers and boosts customer
satisfaction which heavily drive revenue. Additionally, LMS systems tend to be
easily to integrate into existing workflows.
Weaknesses: LMS systems can have low information retention without repetition,
which may cause drop offs in quality of customer service. Additionally, LMS
service companies have high competition due to a low barrier of entry.
Relevant Startups:
Looop: tailored LMS
platform reducing
redundancies
TalentLMS: affordable LMS
with ready-to-use modules
Lessonly: modern LMS
systems for each company
segment
12.
P4: Retailers need properly stocked inventory in stores to avoid potential losses or
customer confusion
Priority: MEDIUM Size: > $100B Stickiness: MEDIUM
Mismanagement of inventory and product can lead to significant loss of potential sales,
especially during demand spikes. Just-in-time manufacturing is dependent on knowing exactly
how much inventory is being produced, stocked, and purchased simultaneously. Technology can
be used to solve the "stocked" part. Warehouses and stores should be able to inform retailers
about current inventory volumes without hassle. The economic cost is huge. Misplaced,
understocked, and mispriced shelves cost retailers $920 billion per year.[6]
Additionally, for a
store’s inventory needs to be fulfilled, warehousing solutions are required even before the
product reaches the shelves,
The potential solutions outlined address the problem at two points in the supply chain — the
point of sale (e.g. in stores), and in warehouses. Corresponding to the former, robot shelf
analytics offers a promising way to efficiently ensure that shelves are stocked correctly.
Addressing the latter, warehouses are slowly becoming automated and are implementing new
technologies that allow for better inventory management and more transparency for the retailer
whose products are being stored.
Solutions
S1: Robot Shelf Analytics (Market Size: $20.0 bn)
View: Shelving errors cost retailers hundreds of billions of dollars every year.
Additionally, shelving is traditionally labor intensive and requires many
man-hours. Robots provide an accurate and labor-free solution to these problems.
Strengths: Robots patrolling and scanning the shelves can ensure that retailers do
not lose money due to misstocked items. It can also reduce the cost of operations
(less money spent on wages as robots can replace workers). Employees can be
more time-efficient if menial shelf stocking tasks are handled by robots. Also,
having a robot handling these tasks keeps workers out of store aisles and makes it
easier for supermarkets to maintain social distancing measures.
Weaknesses: Implementing a robot shelving system requires significant capital
expenditure and behavior change.
13. Relevant Startups:
Simbe Robotics: Robot scans through
shelves in-store to ensure proper
stocking and labeling
FellowAI: real-time visibility with
computer vision into inventory and
warehouses
S2: Automation of Warehousing (Market Size: $7.1 bn)
View: Transparency into the warehouse is a major key for effective inventory
management. Robot process automation (RPA) in warehouses can present
opportunities to save on labor costs, reduce errors, and speed up fulfilment
processes.
Strengths: In addition to the strengths stated in the previous sentence, an
automated warehouse system has the added benefit of allowing for better
projections and optimization of inventory.
Weaknesses: There is a high barrier to adoption as most warehouses don't have
the infrastructure to enable IoT or robotic devices. Additionally, good
record-keeping is a cheaper alternative that addresses the same problem.
Relevant Startups:
Fetch Robotics:
automated material
transport and data
collection
Locus Robotics: uses
robots to automate pick and
putaway operations
Vecna Robotics: automated
material handling in
warehouses
14.
P5: Retailers need automated methods for projecting demand and profit optimization
models
Priority: MEDIUM Size: $10B - $100B Stickiness: MEDIUM
Supply chain planning benefits from advanced analytics and the automation of "knowledge
work". Currently retailers only use historical purchase data to determine demand, but various
other variables can be integrated to more accurately project profits. According to the 2020 MHI
Annual Industry Report, the reported number of supply chain managers using predictive
analytics grew from 17% in 2017 to 30% in 2019. Additionally, 57% of companies not using
predictive analytics plan to start doing so within the next five years[7]
.
Given that predictive analytics is going to see major adoption, there is significant space for
different companies in different niches to excel. For example, the analytics that go into making
predictions for the fashion industry are very different than those tailored for groceries. While an
all-purpose analysis platform may emerge, specialized niche players will perform well as they
settle into strong relationships with the major players in their respective industries. Additionally,
the network effects that arise from presenting a high quality analytics product scale far more
easily within one vertical than across verticals. Both the collection of data and analysis of data
will see major growth in the next decade as hardware IOT devices and software analytics toolkits
mature.
Solutions
S1: Predictive Analytics & Shipping (Market Size: $10.95 bn)
See P2-S3
S2: Automation of Warehousing (Market Size: $7.13 bn)
See P4-S2
S3: Performance Management (Market Size: $7.22 bn)
See P3-S1
S4: Collaborative Logistics Platform
View: Friction in supply chains results in lost value, and a lot of friction can arise
from poor supplier-retailer relationships. Poor communication, bookkeeping,
administrative procedures, etc. leads to mishandled inventory and loss of value. A
15.
collaborative platform to manage communication and inventory management
would allow for both the supplier and retailer to maximize value.
Strengths: Joint supply chain platforms between customers, retailers, and
suppliers thrive in noncompetitive relationships. Each party saves administrative
costs and is able to capture the maximum value from a supply chain. The
exchange transparent inventories for reliable planning data allows for better and
faster reactions to any changes in the supply chain.
Weaknesses: Collaborative logistics platforms can only succeed in low or
non-competitive environments. Additionally, other platforms that connect
producers and suppliers may be more effective alternatives.
Relevant Startups:
Turvo: collaborative supply chain
logistics platform
P6: Retailers need to ensure the safety of workers and employees
Priority: LOW Size: $100M - $1B Stickiness: LOW
Worker safety has seen significantly more focus due to COVID as more workers are willing to
report their employers given the more dangerous working conditions, especially for frontline
workers. Mistreatment and employee churn hurts productivity and profitability.
Putting workers out of harm’s way is a priority for employers, and robotics presents a long-term
solution to do just that. Robots can handle menial, time-consuming, and dangerous tasks for
human workers, freeing them up to be more productive and safe as they perform other tasks.
Solutions
S1: Robot Shelf Analytics (Market Size: $20.00 bn)
See P4-S1
S2: Robot Sanitation (Market Size: $2.5 bn)
See P1-S2
16. Conclusion
COVID-19 both introduced and accelerated trends in both the front-end and back-end of the
retail industry. In physical stores, robotics and autonomous systems can help to improve safety
and convenience for both workers and customers, and also can lead to significant cost savings
and revenue growth for businesses. Additionally, technology will enable transparency into
supply chains to better weather the storm of any disruption in the future. As customers demand
better experiences and faster delivery times, retailers will begin adopting these new technologies
to beat competition both in terms of operational efficiency and brand image.
Sources
[1]
https://www.emarketer.com/content/global-ecommerce-2019
[2]
https://blog.blueyonder.com/covid-19-survey-consumer-trends-and-their-impact-on-retail-supp
ly-chains/
[3]
https://www.vox.com/2019/1/4/18166934/amazon-go-stores-revenue-estimates-cashierless
[4]
https://www.emarketer.com/content/supply-chains-are-strained-as-the-pandemic-causes-a-surg
e-in-online-orders
[5]
https://newsroom.accenture.com/news/us-companies-losing-customers-as-consumers-demand-
more-human-interaction-accenture-strategy-study-finds.htm
[6]
https://www.simberobotics.com/
[7]
https://www.mhi.org/publications/report