This document discusses the growing trend of omni-channel retailing in Pakistan. It finds that while many retailers in Pakistan have adopted a multiple-channel approach, more progress is needed to be considered true cross-channel or omni-channel retailers. Omni-channel retailing provides a unified customer experience across physical stores, websites, marketplaces and more. The document recommends Pakistani retailers advance to omni-channel retailing by following best practices of global brands or developing new approaches to better serve customers and drive growth.
The document discusses the need for consumer companies to become "hyper customer-centric" by using advanced data analytics and technologies to deeply understand customers. It finds that while many companies recognize important customer demands like better in-store experiences and online shopping, many are failing to meet these demands. It also discusses how shifting global demographics and the rise of emerging markets and Millennials are driving the need for companies to transform into fully integrated "omni businesses" to meet modern customer expectations. Companies will need to centralize customers, digitally transform, improve supply chains, build trust and integrate their organizations to succeed in this new landscape.
The document discusses how customer expectations have risen significantly, driven by more connected, informed, and empowered consumers. It states that customer experience will be the main battleground for companies and brands going forward. While many companies have invested heavily in marketing, customer service, and logistics, overall customer experience has failed to improve for most brands. However, brands that have achieved superior customer experiences have seen double the revenue growth compared to industry averages. The document advocates that companies must adapt their supply chains and operations to meet rising customer expectations in order to remain competitive and drive growth.
Black Friday is a critical event in the retail calendar in MENA. This event which was first launched by Souq (now Amazon) as a 3-day online only event has now expanded to over six weeks of Q4. The event has been so popular that ~20% of annual online retail sales happen during the Black Friday sale period.
This document discusses how digital technologies are transforming retail by exponentially increasing the complexity of consumer shopping journeys. It notes that mobility and apps now represent a similar disruption to e-commerce in the late 1990s. The key insights are that retailers need to understand shifting digital behaviors and offer a hyper-relevant experience focused on efficiency over personalization. Retailers that leverage insights into consumer contexts through technologies like IoT can improve profitability by 15.6%.
Once run by a few large banks, it has been taken over by smaller, more nimble and technology-driven disruptors who are putting the power back into the hands of consumers.
Banks need a more customer-centric way to do business and to differentiate themselves in new ways.
This report series will explore the most crucial changes happening in the finance industry, and how legacy banks need to act today to be around tomorrow.
This is part 1/3, diving into the world of finance exploring how traditional banks need to act today to be around tomorrow.
- The current state of banking
- 5 Key expectations that banks should be responding to with both services and communications
- An opportunity for banks to begin exploring opportunities for self-disruption
This presentation looks issues facing the retail sector. The presentation will look at supply chain management, risks, mergers and acquisitions, eCommerce and marketing strategies
Once run by a few large banks, it has been taken over by smaller, more nimble and technology-driven disruptors who are putting the power back into the hands of consumers.
Banks need a more customer-centric way to do business and to differentiate themselves in new ways.
This report series will explore the most crucial changes happening in the finance industry, and how legacy banks need to act today to be around tomorrow.
This is part 3/3, and explores successful case examples of greater organizational transformation with focus on two crucial components to enable business to simply the challenges of tomorrow by working smarter today.
- The two key approaches to organizational transformation within legacies, with focus on traditional banks
- Several case studies of best practice transformation examples
- Implications & actionable starting points for traditional banks to approach transformation in an effective way (minimize risk, maximize cooperation)
The document discusses the need for consumer companies to become "hyper customer-centric" by using advanced data analytics and technologies to deeply understand customers. It finds that while many companies recognize important customer demands like better in-store experiences and online shopping, many are failing to meet these demands. It also discusses how shifting global demographics and the rise of emerging markets and Millennials are driving the need for companies to transform into fully integrated "omni businesses" to meet modern customer expectations. Companies will need to centralize customers, digitally transform, improve supply chains, build trust and integrate their organizations to succeed in this new landscape.
The document discusses how customer expectations have risen significantly, driven by more connected, informed, and empowered consumers. It states that customer experience will be the main battleground for companies and brands going forward. While many companies have invested heavily in marketing, customer service, and logistics, overall customer experience has failed to improve for most brands. However, brands that have achieved superior customer experiences have seen double the revenue growth compared to industry averages. The document advocates that companies must adapt their supply chains and operations to meet rising customer expectations in order to remain competitive and drive growth.
Black Friday is a critical event in the retail calendar in MENA. This event which was first launched by Souq (now Amazon) as a 3-day online only event has now expanded to over six weeks of Q4. The event has been so popular that ~20% of annual online retail sales happen during the Black Friday sale period.
This document discusses how digital technologies are transforming retail by exponentially increasing the complexity of consumer shopping journeys. It notes that mobility and apps now represent a similar disruption to e-commerce in the late 1990s. The key insights are that retailers need to understand shifting digital behaviors and offer a hyper-relevant experience focused on efficiency over personalization. Retailers that leverage insights into consumer contexts through technologies like IoT can improve profitability by 15.6%.
Once run by a few large banks, it has been taken over by smaller, more nimble and technology-driven disruptors who are putting the power back into the hands of consumers.
Banks need a more customer-centric way to do business and to differentiate themselves in new ways.
This report series will explore the most crucial changes happening in the finance industry, and how legacy banks need to act today to be around tomorrow.
This is part 1/3, diving into the world of finance exploring how traditional banks need to act today to be around tomorrow.
- The current state of banking
- 5 Key expectations that banks should be responding to with both services and communications
- An opportunity for banks to begin exploring opportunities for self-disruption
This presentation looks issues facing the retail sector. The presentation will look at supply chain management, risks, mergers and acquisitions, eCommerce and marketing strategies
Once run by a few large banks, it has been taken over by smaller, more nimble and technology-driven disruptors who are putting the power back into the hands of consumers.
Banks need a more customer-centric way to do business and to differentiate themselves in new ways.
This report series will explore the most crucial changes happening in the finance industry, and how legacy banks need to act today to be around tomorrow.
This is part 3/3, and explores successful case examples of greater organizational transformation with focus on two crucial components to enable business to simply the challenges of tomorrow by working smarter today.
- The two key approaches to organizational transformation within legacies, with focus on traditional banks
- Several case studies of best practice transformation examples
- Implications & actionable starting points for traditional banks to approach transformation in an effective way (minimize risk, maximize cooperation)
Extending the Reach of Islamic Finance via Digital Channels by Raja Teh MaimunahJoe Najib
A presentation by Raja Teh Maimunah Raja Abdul Aziz, CEO, Hong Leong Islamic Bank (HLISB) on the need for Islamic Banking to push the digital innovation envelope, and how HLISB is doing its part in this quest.
Presented at the Kuala Lumpur Islamic Finance Forum 2015 - 02/12/2015
Innovation pace refers to the speed at which a business is innovating and releasing new consumer-facing features. By measuring this pace of innovation, you can begin answering:
- What kind of value does your business bring to the customers?
- More importantly, are you continuously delivering more value to the customers faster than your competitors?
We took the fast-changing fintech industry as a practical use case to demonstrate why and how innovation pace is measured and what it could mean for business.
Key content:
- The incredible pace of innovation in the current fintech sector by looking at N26 and Revolut
- Guides and examples of using customer value proposition canvas as a measuring tool for innovation pace
- Next steps of what comes afterwards to benchmark your business' innovation pace
Innovation in the Retail Sector - DenaveAmitNagar38
The document discusses the global retail industry, which was valued at approximately $25 trillion in 2018 and is expected to rise to $28 trillion by 2020. It notes that the industry is undergoing significant transformation driven by technological innovation and changes in consumer behavior. Retailers are innovating through omnichannel retail, personalized experiences, and technologies like artificial intelligence and analytics to remain competitive in the evolving landscape. The future of retail is expected to increasingly incorporate elements like contextual customer recognition, conversational commerce, gamification, and intelligent supply chains.
The document discusses how banks need to evolve to keep up with changing consumer expectations. It argues that banks need to be faster in observing trends, responding to changes, and innovating. Specifically, it recommends that banks focus on three goals: 1) Be observant - routinely engage with and listen to customers to understand shifting behaviors. 2) Be responsive - develop innovations that address emerging trends and expectations. 3) Be quick - continuously explore ways to accelerate the innovation process in order to sustain a fast pace of change. The report provides examples of how some banks are already adapting their practices to become more customer-centric and stay ahead of disruptors.
Measuring Innovation Pace in FinTech - October 2019LHBS
Innovation is a race. 37% of banks in Germany viewed
fintech as a possible threat.
In the financial service industry, legacy organizations and emerging fintech disruptors are competing in the same environment, for the same customers.
Decoding the Cross border eCommerce Puzzle - an Anchanto Document devin simon
In recent years, technology has enabled eCommerce retailers and manufacturers to reach customers across borders. However, there are various challenges that need to be tackled in order to flourish at cross-border trade. If you are thinking cross-border, few questions are natural to arise:
Will I benefit from cross-border eCommerce?
Would my products actually sell across borders?
How to overcome logistic challenges in cross-border eCommerce?
This white paper gives you in-depth insights into all of these and much more. Also, explore how technology is the solution to enhance and navigate endless possibilities through cross-border eCommerce.
The document discusses the proliferation of mobile point of sale (mPOS) technology. It describes how mPOS has expanded the point of sale beyond checkout counters to anywhere in a store. mPOS allows merchants to accept various cashless payment options and provide additional services to drive revenue and loyalty. The document also discusses how mPOS enables benefits like line busting and clienteling to better serve customers and generate additional sales. It notes that the use of mPOS is growing significantly and projected to continue rising dramatically in the coming years as consumers and payment technology continue to evolve.
- Italy is slowly closing the technological gap with other European countries, with smartphone and internet usage increasing.
- A CBRE consumer survey found that while online shopping is growing, consumers still prefer physical shopping due to wanting to see and touch products.
- Retailers are integrating online and physical shopping by allowing customers to buy online and pick up in stores, or view products in stores and purchase online.
- Location remains important for retailers, with high streets building brand awareness and shopping malls remaining an important sales channel.
Global Powers Of Retailing 2015 - Embracing Innovationaditya848
The Global Powers of Retailing identifies the 250 largest retailers around the world and analyzes their performance. It also looks at the world's 50 biggest e-retailers, considers the top trends in the industry, and provides a global economic outlook for the coming year.
The eTail International Delivery Report 2014wnDirect
The document summarizes the key findings of the eTail International Delivery Report 2014, which surveyed ecommerce retailers about their cross-border sales and delivery operations. Some major findings include:
- The majority of retailers expect their international ecommerce sales to continue growing in the next year.
- Western Europe (especially Germany) and the US were identified as the two regions with the most expected growth.
- Customs/duties and pricing delivery were cited as the top challenges for international sales.
- Reliability was the top priority for international delivery followed by lowering costs and increasing speed.
This document discusses achieving high performance in the post and parcel industry. It identifies three strategic priorities that high performers follow: 1) defending the core mail business to maintain profitability through innovation and pricing; 2) investing in growing the profitable parcels business through market share and pricing; and 3) selectively diversifying into logistics and other businesses. It also stresses the importance of being a digital organization. High performers are more profitable in mail through pricing and have grown parcel revenues through market share and pricing while diversifying into logistics. The document advocates focusing digital investments on revenue generation, addressing new retailer/consumer demands, and pursuing an international strategy to compete.
The document discusses online retail versus brick-and-mortar retail. It begins with an abstract that outlines the evolution of trade from bartering to modern marketplaces. The introduction then provides context on the growth of e-commerce and how it is changing retail. The methodology section describes the qualitative and quantitative research methods used, including focus groups, interviews, and a survey. Key findings from the analysis include that consumers' trust in and willingness to purchase online depends heavily on factors like product category, brand reputation, and payment methods. Overall online retail is growing but still lacks the legitimacy and physical presence that traditional retail provides for many consumers.
The document discusses retail trends expected between now and 2015. It predicts that demographic differences will widen, with growth primarily among older generations and younger generations under 35. Retailers will have difficulty appealing to both groups. The US population will also become more racially diverse. There will be more single-person and smaller households as families decrease in size. Technology will be more prevalent and change how customers obtain and share information. Retailers must adapt to these shifting trends to succeed in 2015.
This document provides an overview of various consumer markets and segments relevant to kiosks. It includes statistics on the size and growth of key markets like retail, entertainment, hospitality, fast food and grocery. It also analyzes consumer segments within these industries and highlights examples of kiosk applications that have been deployed or tested. The focus is on identifying high-potential market segments and drivers of kiosk adoption across different consumer facing industries.
Paybook Volume 3 includes: the era of the savvy shopper, the winners of our Appathon, doing business today with the tools of tomorrow and ingenuity from the inside out.
The document discusses trends in supply chain logistics in Canada, including:
1) Growing e-commerce has increased logistics challenges for online businesses related to delivery.
2) Companies are looking to cut costs by demanding lower prices from suppliers and outsourcing logistics to third-parties.
3) There is a shortage of long-haul truck drivers, especially as international trade increases, which impacts transportation costs.
Global supply chains are becoming more and more interconnected, where the events occurring at one side of the world are impacting at the other side, much faster than 15 years ago.
What are the right competencies required for Supply chain professionals, to install competitive advantages in a sustainable manner?
Este bono incluye los datos de contacto de Ramón Marín Durbán, incluyendo su número de teléfono 629 02 10 06 y dirección de correo electrónico rmarin@bonoincentivo.es.
Vortrag "Adieu starre Nutzungsszenarien, willkommen flexible Arbeitsunterstützung" von Sandro Dönni, Senior Consultant bei Unic anlässlich des Unic Collaboration Breakfast am 20. Mai 2014 in Bern.
Rachel Carson had a passion for nature from a young age, exploring the woods near her home with her mother. She went on to study biology in college, where she discovered her calling. After graduating, she took a job writing radio scripts about marine life for the U.S. Bureau of Fisheries. Her first book, Under the Sea-Wind, was published in 1941 to critical acclaim but modest sales. Her second book, The Sea Around Us, became a massive bestseller in 1951, allowing Carson to resign from her government job and pursue writing full-time. She went on to write several more acclaimed books bringing ecological science to the public.
Este anuncio promueve los servicios de tutoría de Sylvan para ayudar a los estudiantes a mejorar en matemáticas, inglés y español. Ofrece una evaluación gratis y nuevos cursos de robótica y programación. Sylvan usa pruebas estandarizadas para identificar áreas de debilidad, currículos individualizados y métodos efectivos para cubrir rezago académico y desarrollar habilidades a largo plazo.
Este documento presenta una unidad sobre la comunicación y el lenguaje. La unidad cubre temas como ampliar el vocabulario, mejorar las habilidades de lectura y escritura, crear textos informativos, mejorar la ortografía y expresar opiniones. También incluye preguntas para comentar sobre temas de conversación favoritos y una lectura sobre el desarrollo del lenguaje humano.
Extending the Reach of Islamic Finance via Digital Channels by Raja Teh MaimunahJoe Najib
A presentation by Raja Teh Maimunah Raja Abdul Aziz, CEO, Hong Leong Islamic Bank (HLISB) on the need for Islamic Banking to push the digital innovation envelope, and how HLISB is doing its part in this quest.
Presented at the Kuala Lumpur Islamic Finance Forum 2015 - 02/12/2015
Innovation pace refers to the speed at which a business is innovating and releasing new consumer-facing features. By measuring this pace of innovation, you can begin answering:
- What kind of value does your business bring to the customers?
- More importantly, are you continuously delivering more value to the customers faster than your competitors?
We took the fast-changing fintech industry as a practical use case to demonstrate why and how innovation pace is measured and what it could mean for business.
Key content:
- The incredible pace of innovation in the current fintech sector by looking at N26 and Revolut
- Guides and examples of using customer value proposition canvas as a measuring tool for innovation pace
- Next steps of what comes afterwards to benchmark your business' innovation pace
Innovation in the Retail Sector - DenaveAmitNagar38
The document discusses the global retail industry, which was valued at approximately $25 trillion in 2018 and is expected to rise to $28 trillion by 2020. It notes that the industry is undergoing significant transformation driven by technological innovation and changes in consumer behavior. Retailers are innovating through omnichannel retail, personalized experiences, and technologies like artificial intelligence and analytics to remain competitive in the evolving landscape. The future of retail is expected to increasingly incorporate elements like contextual customer recognition, conversational commerce, gamification, and intelligent supply chains.
The document discusses how banks need to evolve to keep up with changing consumer expectations. It argues that banks need to be faster in observing trends, responding to changes, and innovating. Specifically, it recommends that banks focus on three goals: 1) Be observant - routinely engage with and listen to customers to understand shifting behaviors. 2) Be responsive - develop innovations that address emerging trends and expectations. 3) Be quick - continuously explore ways to accelerate the innovation process in order to sustain a fast pace of change. The report provides examples of how some banks are already adapting their practices to become more customer-centric and stay ahead of disruptors.
Measuring Innovation Pace in FinTech - October 2019LHBS
Innovation is a race. 37% of banks in Germany viewed
fintech as a possible threat.
In the financial service industry, legacy organizations and emerging fintech disruptors are competing in the same environment, for the same customers.
Decoding the Cross border eCommerce Puzzle - an Anchanto Document devin simon
In recent years, technology has enabled eCommerce retailers and manufacturers to reach customers across borders. However, there are various challenges that need to be tackled in order to flourish at cross-border trade. If you are thinking cross-border, few questions are natural to arise:
Will I benefit from cross-border eCommerce?
Would my products actually sell across borders?
How to overcome logistic challenges in cross-border eCommerce?
This white paper gives you in-depth insights into all of these and much more. Also, explore how technology is the solution to enhance and navigate endless possibilities through cross-border eCommerce.
The document discusses the proliferation of mobile point of sale (mPOS) technology. It describes how mPOS has expanded the point of sale beyond checkout counters to anywhere in a store. mPOS allows merchants to accept various cashless payment options and provide additional services to drive revenue and loyalty. The document also discusses how mPOS enables benefits like line busting and clienteling to better serve customers and generate additional sales. It notes that the use of mPOS is growing significantly and projected to continue rising dramatically in the coming years as consumers and payment technology continue to evolve.
- Italy is slowly closing the technological gap with other European countries, with smartphone and internet usage increasing.
- A CBRE consumer survey found that while online shopping is growing, consumers still prefer physical shopping due to wanting to see and touch products.
- Retailers are integrating online and physical shopping by allowing customers to buy online and pick up in stores, or view products in stores and purchase online.
- Location remains important for retailers, with high streets building brand awareness and shopping malls remaining an important sales channel.
Global Powers Of Retailing 2015 - Embracing Innovationaditya848
The Global Powers of Retailing identifies the 250 largest retailers around the world and analyzes their performance. It also looks at the world's 50 biggest e-retailers, considers the top trends in the industry, and provides a global economic outlook for the coming year.
The eTail International Delivery Report 2014wnDirect
The document summarizes the key findings of the eTail International Delivery Report 2014, which surveyed ecommerce retailers about their cross-border sales and delivery operations. Some major findings include:
- The majority of retailers expect their international ecommerce sales to continue growing in the next year.
- Western Europe (especially Germany) and the US were identified as the two regions with the most expected growth.
- Customs/duties and pricing delivery were cited as the top challenges for international sales.
- Reliability was the top priority for international delivery followed by lowering costs and increasing speed.
This document discusses achieving high performance in the post and parcel industry. It identifies three strategic priorities that high performers follow: 1) defending the core mail business to maintain profitability through innovation and pricing; 2) investing in growing the profitable parcels business through market share and pricing; and 3) selectively diversifying into logistics and other businesses. It also stresses the importance of being a digital organization. High performers are more profitable in mail through pricing and have grown parcel revenues through market share and pricing while diversifying into logistics. The document advocates focusing digital investments on revenue generation, addressing new retailer/consumer demands, and pursuing an international strategy to compete.
The document discusses online retail versus brick-and-mortar retail. It begins with an abstract that outlines the evolution of trade from bartering to modern marketplaces. The introduction then provides context on the growth of e-commerce and how it is changing retail. The methodology section describes the qualitative and quantitative research methods used, including focus groups, interviews, and a survey. Key findings from the analysis include that consumers' trust in and willingness to purchase online depends heavily on factors like product category, brand reputation, and payment methods. Overall online retail is growing but still lacks the legitimacy and physical presence that traditional retail provides for many consumers.
The document discusses retail trends expected between now and 2015. It predicts that demographic differences will widen, with growth primarily among older generations and younger generations under 35. Retailers will have difficulty appealing to both groups. The US population will also become more racially diverse. There will be more single-person and smaller households as families decrease in size. Technology will be more prevalent and change how customers obtain and share information. Retailers must adapt to these shifting trends to succeed in 2015.
This document provides an overview of various consumer markets and segments relevant to kiosks. It includes statistics on the size and growth of key markets like retail, entertainment, hospitality, fast food and grocery. It also analyzes consumer segments within these industries and highlights examples of kiosk applications that have been deployed or tested. The focus is on identifying high-potential market segments and drivers of kiosk adoption across different consumer facing industries.
Paybook Volume 3 includes: the era of the savvy shopper, the winners of our Appathon, doing business today with the tools of tomorrow and ingenuity from the inside out.
The document discusses trends in supply chain logistics in Canada, including:
1) Growing e-commerce has increased logistics challenges for online businesses related to delivery.
2) Companies are looking to cut costs by demanding lower prices from suppliers and outsourcing logistics to third-parties.
3) There is a shortage of long-haul truck drivers, especially as international trade increases, which impacts transportation costs.
Global supply chains are becoming more and more interconnected, where the events occurring at one side of the world are impacting at the other side, much faster than 15 years ago.
What are the right competencies required for Supply chain professionals, to install competitive advantages in a sustainable manner?
Este bono incluye los datos de contacto de Ramón Marín Durbán, incluyendo su número de teléfono 629 02 10 06 y dirección de correo electrónico rmarin@bonoincentivo.es.
Vortrag "Adieu starre Nutzungsszenarien, willkommen flexible Arbeitsunterstützung" von Sandro Dönni, Senior Consultant bei Unic anlässlich des Unic Collaboration Breakfast am 20. Mai 2014 in Bern.
Rachel Carson had a passion for nature from a young age, exploring the woods near her home with her mother. She went on to study biology in college, where she discovered her calling. After graduating, she took a job writing radio scripts about marine life for the U.S. Bureau of Fisheries. Her first book, Under the Sea-Wind, was published in 1941 to critical acclaim but modest sales. Her second book, The Sea Around Us, became a massive bestseller in 1951, allowing Carson to resign from her government job and pursue writing full-time. She went on to write several more acclaimed books bringing ecological science to the public.
Este anuncio promueve los servicios de tutoría de Sylvan para ayudar a los estudiantes a mejorar en matemáticas, inglés y español. Ofrece una evaluación gratis y nuevos cursos de robótica y programación. Sylvan usa pruebas estandarizadas para identificar áreas de debilidad, currículos individualizados y métodos efectivos para cubrir rezago académico y desarrollar habilidades a largo plazo.
Este documento presenta una unidad sobre la comunicación y el lenguaje. La unidad cubre temas como ampliar el vocabulario, mejorar las habilidades de lectura y escritura, crear textos informativos, mejorar la ortografía y expresar opiniones. También incluye preguntas para comentar sobre temas de conversación favoritos y una lectura sobre el desarrollo del lenguaje humano.
Maxillary sinus floor elevation with bovine bone mineral combined with either...Berenice Gomes
This randomized clinical trial compared bone formation in the maxillary sinus following sinus floor elevation using either bovine bone mineral (BBM) combined with autogenous bone (control group) or BBM combined with autogenous mesenchymal stem cells (MSC) (test group). Twelve patients underwent bilateral sinus floor elevation, with one side receiving BBM+bone and the other receiving BBM+MSC. Biopsies at 3 months found significantly more new bone formation in the BBM+MSC group (17.7% vs 12% in control). Both grafts allowed implant placement with primary stability. Seeding BBM with autogenous MSC may induce sufficient new bone for implant placement comparable to using autogenous bone alone.
Catálogo espanhol Experimente Sergipe - EMSETUR Governo de SergipeAndré Júnior
Sergipe, Brasil, ofrece paisajes exuberantes, playas paradisíacas, cultura rica y oportunidades para el turismo de aventura y la gastronomía. La capital Aracaju contiene atractivos como la playa Atalaia y museos. El interior de Sergipe también tiene ciudades históricas, cascadas, ríos y el cañón de Xingó. La cultura incluye música, danza, artesanía y festivales como el São João.
The IPMA Young Crew Management Board has three main goals:
1. Reach more young people interested in project management in more countries by potentially establishing new Young Crews in 13 additional countries.
2. Coordinate efforts and create synergies among existing national Young Crews and international programs like the Global Young Crew Workshop, Young Project Manager Award, and World Project Management Championship.
3. Guide the strategic direction of the Young Crew as the Chairman and teams focus on innovation, marketing, development, and corporate cooperation.
Este documento describe tres generaciones de productos estructurados. La primera generación se caracteriza por contener un solo índice de tipos de interés variables y tener fechas de pago coincidentes. La segunda generación supera en complejidad a la primera al incluir múltiples índices y fechas de pago no coincidentes. La tercera generación enlaza los rendimientos con índices de renta variable u otros activos. El documento también explica quiénes intervienen en los productos estructurados, sus tipologías y define qué son.
Este documento describe diferentes tipos de errores lingüísticos o "vicios del lenguaje", incluyendo barbarismos (errores de pronunciación o escritura de palabras), arcaísmos (palabras en desuso), solecismo (errores de sintaxis), pleonasmo (repetición innecesaria), anfibología (ambigüedad), monotonía (uso excesivo de pocas palabras), cacofonía (sonidos desagradables al juntar sílabas), catacresis (uso de palabras con significados distintos), y neologism
Este documento presenta una guía sobre el reciclaje de residuos sólidos domiciliarios en Panamá. Explica la importancia del reciclaje para reducir los volúmenes de basura, los beneficios que trae y cómo separar correctamente los materiales reciclables. Incluye información sobre los componentes típicos de la basura en Panamá, el tiempo que tardan en descomponerse diferentes materiales y un directorio de empresas recicladoras. El objetivo es promover el reciclaje como una herramienta efectiva para mejorar la calidad
Este documento presenta definiciones breves de varios conceptos y pensadores filosóficos. Define la teoría del conocimiento como una interpretación filosófica del conocimiento y discute que no puede considerarse como una disciplina filosófica independiente. También incluye biografías cortas de figuras históricas como Euclides, Jeremy Bentham, Thomas Kuhn y Agustín de Hipona, describiendo sus contribuciones principales.
This document discusses theories of emotion and optimal experience in the context of leisure activities. It describes Csikszentmihalyi's theory of "flow" as an optimal experience that occurs when challenges match skills. It also outlines Neulinger's paradigm that classifies leisure and non-leisure activities based on perceived freedom of choice versus constraints and intrinsic versus extrinsic motivation. Examples are given of different types of activities according to this paradigm.
Este documento describe los diferentes tipos de sociedades en Colombia, incluyendo sus procesos de constitución, responsabilidades de los socios y otros aspectos clave. Describe sociedades anónimas, simplificadas, de responsabilidad limitada, colectivas, cooperativas, comandita simple, comandita por acciones, estatales e individuales.
Mote Carlo y Quasi-Monte Carlo aplicado a los mercados financieros Rubén Colomina Citoler
Este documento resume un trabajo de fin de máster sobre la aplicación de métodos de Monte Carlo y Quasi-Monte Carlo a problemas de los mercados financieros. El objetivo del trabajo es estudiar e implementar estos métodos para valorar opciones financieras de diferentes tipos, como opciones europeas, asiáticas y lookback. También se estudia el cálculo de "griegas" o sensibilidades de opciones usando estos métodos. El trabajo implementa algoritmos en Octave y compara los resultados de Monte Carlo estandar con técnicas como control de varianza y Quasi-Mon
Innovation Showcase: Top Healthcare Apps Built on Salesforce App CloudDreamforce
Join us to hear how top health and life science companies are using Salesforce App Cloud to accelerate app development, tackle new challenges, and innovate across their entire organization. Watch the video now: https://www.youtube.com/watch?v=VNWra_JL-FY
The document discusses omnichannel banking and the building blocks required for digital transformation at financial institutions. It states that omnichannel banking requires consistent customer service across all channels to optimize engagement and lower costs. The key building blocks are interoperability between systems, streamlining transactions by developing digital channels, and delivering personalized products to customers. Financial institutions must also implement tools to manage performance across channels in real-time to ensure customer satisfaction and profitability.
The document discusses how customer expectations have risen significantly, driven by more connected, informed, and empowered consumers. It states that customer experience will be the main battleground for companies and brands going forward. While many companies have invested heavily in marketing, customer service, and logistics, overall customer experience has failed to improve for most brands. However, brands that have achieved superior customer experiences have seen double the revenue growth compared to market indexes. The document advocates that companies must adapt their supply chains and operations to meet rising customer expectations in order to remain competitive and drive growth.
Digital Banking: Enhancing Customer Experience; Generating Long-Term Loyalty ...Cognizant
To stay profitable and grow in the new digital economy, banks need to adopt a customer-centric business model, diversify online delivery of products and services channels and begin making meaning from valuable trails of digital information.
Digital Banking: Enhancing Customer Experience; Generating Long-Term LoyaltyCognizant
To stay profitable and grow in the new digital economy, banks need to adopt a customer-centric business model, diversify online delivery of products and services channels, and begin making meaning from valuable trails of digital information.
This report informs companies about the current and future prospects of these nascent ʻClick and Dialʼ distribution channels. Furthermore, it presents Kanvicʼs perspective on
their expected development and highlights the major opportunities for companies to prosper in this market space, by adapting their strategy to the specifics of the Indian consumer market.
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1. INSIGHT INTO OMNI-CHANNEL 1
INSIGHT INTO OMNI-CHANNEL
AND DIGITAL READINESS OF PAKISTANI RETAILERS
Amin S. Lalani
eTailing
Ejaz Wasay
Institute of Business Management
2. INSIGHT INTO OMNI-CHANNEL 2
Abstract
The purpose of this research is to investigate the level of Omni-Channel adaptation by
Internet Retailers in Pakistan and identify opportunities to expedite the process before global
players start making their presence felt across a wider spectrum of customer segments. The rate
of adoption of Internet Retailing or E-tailing has been accelerating in recent years, and various
stakeholders have been gearing up and enhancing their capabilities. These include ecosystem
players like TCS, traditionally geared for Logistics, Daraz.pk and Kaymu.pk for marketplace,
HBL for Payment Gateway using Debit/Credit card processing infrastructure, and
DealsToday.pk focused on discount deals. Other major stakeholders include the State Bank of
Pakistan from the perspective of policy development and adoption, and P@SHA (Pakistan
Software Houses Association), that has historically played a critical role for getting startups on
their feet, and serving as a bridge between retailers and buyers, for the delivery of quality
products to customers in the comfort of their homes. It is inevitable that traditional retailers will
be tempted to try and undermine the adaptation of such a radical form of retailing that changes
the status quo. It is well understood now that the essence of Omni-Channel retailing is to create a
unified ecosystem to provide optimal service to customers, obviating the need for the consumer
to seek out different channels for individual products and services, through the physical store,
Webstore or marketplace, payment gateways, advanced logistics and communications tool
including new media, and customized promotional tools such as virtual discount coupons. Omni-
Channel thereby acts as an effective catalyst to expedite customer conversion and retention,
reaching out to them through various touchpoints.
3. INSIGHT INTO OMNI-CHANNEL 3
In a logical, linear sequence, retailing ought to pass through four stages, before it can get
to its proposed final destination, progressing from a Single Channel option to Multiple-Channel,
Cross-Channel and finally Omni-Channel. The primary objective of this study has been to gather
data by deploying a custom designed questionnaire, and analyzing the information along with
any additional evidence, to assess the stage at which Internet Retailers in Pakistan are currently
geared to service customers.
The findings of the study clearly reveal that many Internet Retailers have already reached
the Multiple-Channel stage, by having a presence in two or more channels. However, more
progress has to be made before they can be classified either as Cross-Channel or Omni-Channel
retailers.
The research paper also highlights the importance of upgrading to the Omni-Channel
stage, either by following the best practices of global brands or by carving out new routes. It also
highlights practical options that Internet Retailers may work with, in their journey to embrace the
ultimate stage, and succeed in seeking, converting and retaining more customers in Pakistan, and
in the world.
Keywords: Internet Retail, Omni Channel, E-Tailing, Multiple Channel
4. INSIGHT INTO OMNI-CHANNEL 4
Introduction
Not so long ago, buying a branded cell-phone, or a tablet, or a branded dress or fabric for
the summer, or even a feature film on CD meant going to a retail outlet, selecting it, paying
either in cash or with a credit card, and bringing it home. That is no longer necessary. Several of
these items can be ordered online, and delivered at the customer’s doorstep. Wanting to have a
quiet family dinner at home also meant venturing out to a restaurant, ordering the food, waiting
for it to be ready, paying for it and bringing it home. But, there are better ways to order food for
a family dinner now, where everyone’s preference for a different type of food is also addressed,
and the food is delivered at their door piping hot or cold, or a combination thereof.
Retailing has changed diametrically in Pakistan, from what it was like only a few years
ago. The industry is currently valued at c.US$50billion, contributing 18.3% to GDP. In the last
five years the sector has witnessed accelerated growth per annum, with the 2014 estimate
reported at 6.1%. The outlook for the future remains robust. (State Bank of Pakistan 2014-15
Annual Report, 2015)
A refreshing aspect is the rapid emergence of the modern retailing format in the country
in recent years, in the shape of specialized branded outlets for textiles and apparel, home
furnishing, perfumes and cosmetics, as well as food and beverage among others. The arrival of
global players too, either in the shape of independent retailing, or under franchising and strategic
licensing arrangements, or as joint ventures is another welcome development. In some quarters
however, this is seen as a development that benefits up-market clients only. But, what can be
argued here is that the lower socio-economic classes also stand to gain from this, as more jobs
are created and more economic activity is generated across multiple levels.
5. INSIGHT INTO OMNI-CHANNEL 5
“Every 50 years or so retailing undergoes this kind of disruption”, says Daniel Rigby, a
partner in the Boston office of Bain & Company, in his article published in the Harvard Business
Review (2011). “Each wave of change doesn’t eliminate what came before it, but it reshapes the
landscape and redefines consumer expectations, often beyond recognition. Retailers relying on
earlier formats either adapt or die out as the new ones pull volume from their stores and make the
remaining volume less profitable1.”
According to a Euromonitor report on retailing in Pakistan, the sector has “witnessed
strong current value growth in 2014 as the economy strengthened. Despite continued energy
crises and inflation, hopes of an improved situation due to steps taken by the new government
significantly impacted the growth of foreign investment in the country. New entrants to retailing
have created a more competitive environment, with companies investing heavily in marketing.”
As the report also points out, traditional retail has been impacted by this development, but
only to the extent that its rate of growth has slowed down. Non-grocery retail meanwhile has
“outpaced” the rate of growth in the grocery business. The report also foresees that the growth
trend is likely to persist, giving some credit to the business-oriented policies of the government
in power.
In the more developed markets, the “50-year tradition” is taking a bigger toll – disruption
in retail is far more pronounced with business moving from “Single Channel offline”, to “Multi-
Channel”, “Cross-channel”, and of late, “Omni-Channel” enterprises. (Patni, 2010). Technology
Integration Leader at David Jones Limited, uses the following chart to explain the transition.
Single Channel retailing represents just online or offline “brick-and-mortar” outlets
serving customers with no integration between web, store or warehouse.
6. INSIGHT INTO OMNI-CHANNEL 6
Multi-Channel retailing serves customers through multiple points like web, store and
warehouse – the latter two in some cases becoming delivery points as well.
Cross-Channel retailing is a state where customers are served through multiple sources
including web, store or warehouse in a manner that goods bought from one channel may be
exchanged from or returned through another.
Omni-Channel goes a step further to integrate all the channels involved, to serve
customers in the same manner anywhere, anytime, irrespective of where the customer’s journey
started. It provides the customer the opportunity to seamlessly experience interconnected offline
and online platforms, including brick-and-mortar stores, kiosks, social media, cell phone Apps,
networked appliances, call center, home-delivery services, catalogs, direct mail and more, as he
progresses through the buying process. One of the widely used services of Omni-Channel is “live
inventory” whereby, shoppers have access to real-time count of in-store inventory, so that they
can place their orders until the last unit is available. Similarly other business processes such as
unique delivery times and shipping options are made available regardless of where, within the
retailer’s network, any shopper is located. Whether the customers are in a physical store, or on a
computer or mobile device, they require the same level of service and access to information,
throughout the entire shopping experience. (Deloitte, 2015).
The Omni-Channel ecosystem also covers reverse logistics whereby customers are free to
exchange, return or get a refund on goods bought through any channel. Macy’s has outplayed
other retailers by deploying Omni-Channel in its $25 billion retail sales turnover. Among other
initiatives, Macy’s has brought in digital assets into its stores, equipping sales associates with
mobile devices to allow them to service customers better, opening new warehouses, optimizing
7. INSIGHT INTO OMNI-CHANNEL 7
inventory with RFID, bringing direct-to-consumer fulfillment into stores and remodeling its
flagship store at Herald Square. (Speer, 2012)
Richard Last, Senior Director, Global Digital Retailing Research Center at the University
of North Texas recommends in his article that retailers today should in fact take advantage of the
trend towards online business and establish their “Online Flagship Stores”, so that due advantage
can be taken of the situation. (Last, 2015).
Digital era customers “want everything. They want the advantages of digital, such as
broad selection, rich product information, and customer reviews and tips. They want the
advantages of the physical stores, such as personal service, the ability to touch products, and
shopping as an event and an experience1.”That is why retail organizations that do not have their
eyes and ears wide open, are likely to have the rug pulled from under their feet when they least
expect it.
The answer to an obvious question that comes to mind, i.e. whether modern retail in
Pakistan would have to go through the four stages of evolution to reach the ultimate stage is “not
necessarily”! And, the response to the next logical question in terms of how long would it take
retailers in the country to get to that stage, the answer again is quite straight forward. Digital
technology allows markets to leapfrog. What is likely to happen is that retail in Pakistan would
leapfrog or hop over to something akin to the Omni-Channel format within a much shorter time
span, than most people are willing to believe today, without going through a stage-by-stage
transition. It is technically quite feasible to do so.
Literature Review
The future of shopping, as experts clearly foresee, is likely to be quite complex in terms
of technology but, convenient from the consumer’s perspective. It will require the integration of
8. INSIGHT INTO OMNI-CHANNEL 8
retailers, devices and the marketplace, enabling customers to get the best deals at their beck and
call. On the other hand, retailers will be able to track consumers far more closely by observing
their behavior patterns and understanding their needs, as well as observing market trends, to
“integrate disparate (needs and distribution) channels into a single seamless Omnichannel
experience.”
The research firm Forrester’s estimates show that online retail sales in the US is expected
to reach $334 billion in 2015, comprising nearly 10% of all retail sales. It also indicates that
eCommerce will experience a strong compound annual growth rate (CAGR) of 10% over the
next five years, translating into $480 billion in online sales by 2019 (Forrester, 2015). The
company expects physical goods to lead the growth in eCommerce in the interim, as digital
goods reach maturity. Zia Daniell Wigder of Forrester research suggests that 2015 “…will see
global eBusiness executives continuing to expand their international footprints. Some will set
their sights exclusively on the relatively mature online retail markets of North America and
Western Europe. A growing number, however, will eye online retail markets such as those of
Asia Pacific and Latin America where growth rates over the next five years will be roughly
double those in North America and Europe.”
Globally, digital retailing is probably headed towards 15% to 20% of total sales, though
the proportion will vary significantly by sector and location. Much digital retailing is already
highly profitable. Amazon’s five-year average return on investment, for example, is 17%,
whereas traditional discount and department stores average 6.5% (Group, RSA, 2013).
The origin of the catalog business goes back to the 19th century in the US. Aaron
Montgomery Ward launched his catalog business in 1872, and Richard Warren Sears mailed his
first flyers in the 1880s. Those were considered to be “liberating” ideas, as consumers no longer
9. INSIGHT INTO OMNI-CHANNEL 9
had to visit a store to select and buy goods, where the store-owner could also exercise the option
of charging higher prices. Backed by an effective postal system, mail-order houses in the US
succeeded in under-cutting local stores, aided by their high turnover and lower overheads.
In 1897, Sears started offering bicycles ranging in price from $5 to $20 in its catalog,
whereas the very same bicycles were selling in stores in general, for $75 to $100 and more.
Catalogers could also offer a larger variety of goods. A 700-page Sears catalog listed 6,000
products. That is the reason why Sears’ sales crossed $50 million back in 1906. Mail-order
houses also protected consumers with powerful guarantees. Montgomery Ward was one of the
first to offer a money-back guarantee, with Sears following closely on its heels.
In more recent times the trend for direct-mail sales has been growing stronger. According
to the Direct Marketing Association (DMA), catalog and other direct-mail sales of goods to
consumers represented about 3% of all retail sales in the late 1980s. Studies by the WEFA
Group, an econometric modeling and forecasting firm, suggested that catalog revenue sales
doubled from $35.7 billion in 1987 to $75 billion in 1996, at an average growth rate in excess of
8% per annum. Sales were estimated to hit $87 billion in 1998, based on catalog advertising
expenditure of nearly $11 billion.
Since the mid-1990s, following the arrival of Web 2.0, and the subsequent emergence of
internet retail, eCommerce has shifted to a new paradigm, referred to as the “Digital Paradigm”,
where the basic concept of selling remains similar to the old catalog business, but the potential
has increased manifold, benefiting from the development of online technology. This is clearly
manifested in a host of specialized service options that spawned as a result in the shape of e-
selling or e-buying, e-tailing, e-marketplace, e-payments and e-shipping.
10. INSIGHT INTO OMNI-CHANNEL 10
Exploring Omni-Channel
In the last 3 years internet retailing has become more complex through the ubiquitous
presence of social media, marketplaces and mobile devices, allowing users greater interaction,
access to instant information, and global sourcing of products and services from a variety of
sources, in a variety of ways. For instance, Groupon with its discount offers, eBay with the
auction facility, and Google PCE as a “Price Comparison Engine”. Together they and others like
them supplement “brick and mortar” outlets, where for now, 90% of all transactions take place,
but the trend is rapidly changing.
There are two methods of product information accessibility in internet retailing i.e.
“Push” and “Pull”. Through the Pull mechanism, consumer can themselves access product
information through various channels that are available - anytime, anywhere. Through User
Generate Push (UGP) mechanism which is generated mostly through social channel, consumers
are influenced by friends, family and colleagues about products which come in via different
channels and in different forms. These include, but are not limited to post-share, sponsored post-
share, review, check-in and outdoors. All UGP mechanisms can trigger buying impulse. Through
Omni-Channel presence, brands can take advantage of this mechanism in their own unique mix
and manner, and maintain their edge over competition.
From a business perspective, the resultant ecosystem that is also referred to as Hybrid
Digital Retailing (HDR), does put pressure on organizations to continuously adapt to change in
terms of human resource, technology, logistics and in other areas, but at the same time it also
opens up endless opportunities for growth. The ultimate challenge confronting businesses today
is therefore to be able to service a customer’s unique or repetitive needs from a web-store, an
auction site or an offline store with the same consistency, and deliver the same level of customer
11. INSIGHT INTO OMNI-CHANNEL 11
satisfaction. That is why the Omni-Channel concept came to be seen as the most meaningful
option for businesses going forward – one that is based on consolidating and streamlining the
entire range of activities on the customer front, as well as on the organizational side. The
approach is also inclusive of business and logistics partnerships that can complement the
operation of a modern enterprise, whether in retailing or any other area.
Emphasizing the need for marketers to adapt to the new ecosystem, develop multi-
dimensional facility, and meet the growing expectations of consumers today, “Marketo”, a
Nasdaq company, specialized in providing digital marketing software and solutions suggests:
“Marketers now need to provide a seamless experience, regardless of channel or device.
Consumers can now engage with a company in a physical store, on an online website or mobile
App, through a catalog, or through social media. They can access products and services by
calling a company on the phone, by using an App on their mobile Smartphone, or on a tablet, a
laptop, or a desktop computer. Each piece of the consumer’s experience should be consistent and
complementary.” (Daniel Newman, 2014)
Speaking of Apps, in several cities of the world such as Seoul, Sydney, New York and
Philadelphia supermarkets have placed large panels that serve as “virtual supermarket
storefronts”. These panels are placed at underground train stations from where people waiting for
their train to arrive, can place their orders for grocery by using the store App and their
Smartphone, and pick up the goods ordered from a store location close to home or wherever they
are headed.
Deloitte Consultants, in a report prepared for eBay, based on a study of selected
European countries, refer to the indispensability of Omni-Channel retailing for serving modern-
day consumers, adept at tapping multiple options to create their shopping experience. The report
12. INSIGHT INTO OMNI-CHANNEL 12
suggests that retailers must “respond to this trend, by providing a flexible and seamless shopping
experience, regardless of whether the customer walks into a store, browses the web, or orders via
a mobile phone. By being broadly present across channels and enabling each channel to serve the
customer at any point through the purchase journey, retailers can raise brand awareness, drive
loyalty and ultimately value.”The Omni-Channel “purchase journey” from awareness to loyalty
is also adequately depicted by the chart below extracted from the same report.
One of the most significant technological innovations in recent times, already enhancing
in-store customer experience is in the form of mobile phone based payment systems. It is an
advancement that is creating faster, easier payments and checkout experiences. New payment
methods such as Apple Pay, Android Pay or Samsung Pay, along with other mobile- or credit- or
debit-card-based payment systems are allowing customers to spend more time for browsing and
product selection, before eventually arriving at a purchase decision.
Additionally, the electronic point of sale (EPOS) digital system has also become an
invaluable source of retail data that can be used for a host of activities such as recording sales,
managing inventory, tracking customer purchase patterns and providing “intelligent” customer
service.
As an article written by Charles Duhigg for the New York Times (2012) points out, large
retail outlets such as Target, have for years “collected vast amounts of data on every person who
regularly walks into one of its stores. Whenever possible, Target assigns every shopper a unique
code - known internally as the Guest ID number - that keeps tabs on everything they buy.” If a
customer uses a credit card or a coupon, or fills out a survey, or mails in a refund, or calls the
customer helpline, or opens an e-mail sent by Target or visits the Web site, the data is recorded
and linked to the Guest ID. That is how much they know about their customers and use the
13. INSIGHT INTO OMNI-CHANNEL 13
information to influence their purchasing behavior (Charles Duhigg, 2012).
Some of the key Omni-Channel services are
1. Google plays forefront in generating traffic for Omni-Channel retailers. Recently,
Google has introduced Local Inventory Ads that provide similar information as their Product
Listing Ads and also indicate store accessibility to a consumer searching for products close to
where they are located
Google also leads the crowd-sourcing market which plays a vital role for retail business
sustainability across multiple channels whether in-store, or web-based.
2. Kiosk.com offers various customized kiosks as per brands’ needs. From simple
digital signage to interactive store displaying products and services, and options to place the
order and either have it delivered directly to home or office or collected from the store. Brands
like OfficeMax, Mercedes and Macy’s use these to provide customers information on and quick
access to products, or as in the case of Mercedes, the opportunity to design their own version of
the car. Kiosks play a vital role in the Omni-Channel networks by offering diversified functions
such as in-store ordering, in-store display, signage as well as the ability to read QR codes. In
short, all these kiosks have big advantage to offer - that is, engaging consumers and analyzing
consumer behavior real time to help inventory planning and enhanced customer service.
3. SAP retail software gives consumers the products, information, and personalized
shopping experience they want, when and where they want them, using retail management and
Omni-Channel commerce software. Harness real-time customer and point of sale (POS) insights
reach shoppers across any channel (including mobile), and provide the visibility they need to
optimize everything from merchandising to supply chain and more. There are other premium
14. INSIGHT INTO OMNI-CHANNEL 14
solution providers like Microsoft and Magento that also cater to small size businesses. These
offer combined functional modules in the areas of Finance, CRM and Logistic to manage the
entire retail ecosystem. In order to stay competitive in retail business, it is vital to adopt such
innovative technology that can keep the business going 24x7x365, as shoppers may start surfing
ot looking to buy what they need when shops are closed.
4. Analytics play a critical role in the competitive marketing environment of today.
Analytics software works with data gathered across various touchpoints and convert them into
information that can be used for decision-making. Even the more complex information needs,
such as determining the ROI on advertising spends are possible. In addition, analytics can
provide insights on buying patterns, help determine conversion cycles and much more guidance
that businesses need for their planning purposes, whether related to production, distribution,
merchandizing, sales and market trends, consumer behavior, as well as growth trends broken
down by product category or customer segment or even individual customer.
The Pakistan Market
Pakistan is one of the youngest entrants in the 3G Club. However, forecasts already
suggest that with 3G coming into the market, internet usage by mobile phone users will escalate
to 100 million in the not too distant future. 3G has already triggered e-infrastructure
development, ranging from 3G-based mobile payment processors, access to affordable
broadband, and Apps like Food Panda.
The digital ecosystem has made considerable progress in the country through Internet
banking, 3G SIM based credit/debit card processing by banks, mobile payments through Easy
Paisa, Omni and other brands, ARY Sahulat Wallet, Dealtoday.pk discount coupons and mass
marketing, BlueEX for nationwide COD (Cash on Delivery) and courier service. Marketplaces
15. INSIGHT INTO OMNI-CHANNEL 15
like Daraz.pk, Kaymu.pk and OLX classified are also bolstering online buying and selling. All
these are set to propel internet or online retailing in the country.
Pakistan has a large youth population, many of whom conveniently fall within the
definition of Digital Natives - a term coined by education consultant, Marc Prensky in his 2001
article entitled “Digital Natives, Digital Immigrants”. The definition relates to young people who
typically “have spent their entire lives surrounded by and using computers, videogames, digital
music players, video cams, cell phones, and all the other toys and tools of the digital age.” These
individuals are likely to fit much better into the digital world, in comparison with those who
were born earlier, and have acquired a digital orientation over time.
There is growing support in the country for the young digital natives from institutions
like Pakistan Telecommunication Authority (PTA), which in partnership with Mobile Operators,
Internet Society (ISOC) Asia-Pacific Bureau and Samsung Pakistan announced the “Pakistan
Mobile App Awards 2015”. At the first awards ceremony held in April 2015, two awards each
were given in two categories: Student and Professional. Over a 100 Apps were submitted in the
competition that related to entertainment, education, business and security.
Pakistan’s e-Readiness for Omni-Channel Retailing
According to the EIU ( Economist Intelligence Unit, 2010) report, e-Readiness can be
measured across six dimensions on the basis of weights assigned to them:
1. Connectivity and technology infrastructure: 20%
2. Business environment: 15%
3. Social and cultural environment: 15%
4. Legal environment: 10%
5. Government policy and vision: 15%
6. Consumer and business adoption: 25%
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Pakistan’s score in 2010, based on the above factors, calculated on a scale of 1-10,
worked out as follows for each of the factors:
Table 1
Pakistan’s e-Readiness rating
FACTOR WEIGHTAGE OVERALL SCORE
Connectivity and technology
infrastructure 20% 2.35
Business environment 15% 5.31
Social and cultural environment 15% 2.80
Legal environment 10% 5.90
Government policy and vision 15% 4.30
Consumer and business adoption 25% 2.51
Total score 3.55
With a digital score of 3.55, Pakistan is at par with Indonesia (3.60), and fairly close to
Sri Lanka (3.80) and India (4.11). Sustainable digital retailing is already in place in these
countries, suggesting that digital retailing would be sustainable in Pakistan as well, as it has
demographic and lifestyle similarities with countries in the region.
Internet in Pakistan is offered as DSL, Wifi, Cable Net, USB Dongle and 3G with cost as
low as Rs.450 for 2MB offered by internet service provider, telcos and cable net. There have
been a lot of startup initiatives taken by MITEF, PASHA (Google Nest 1/0, IBA Invent and
more) to accelerate the adoption of internet technology. Recently, Telenor and Internet.org
joined hands to provide free internet access to a more than a dozen sites as part of the mobile
phone company’s social development initiative offering free. Online store like Daraz.pk.pk now
deliver goods ordered online to every corner of Pakistan, free of cost. Darrell Rigby mentioned
in his report that “Traditional retailers need to figure out how to turn traditional retail stores from
liabilities into assets - and they can be assets."
17. INSIGHT INTO OMNI-CHANNEL 17
Digital Retailing is rather loosely integrated in Pakistan, where internet retailing,
payment method, loyalty program, logistics, etc. work in isolation, a format closer to what one
would expect for “multiple channel retailing”. Apparently, the individual components are also
highly digitized and only require web services to integrate them on a single integrated platform.
Unlike western markets, customers in Pakistan also have a different mindset which is why most
online orders are placed through SMS, and 90% of payments are made on COD (Cash on
Delivery) terms. It is consequently vital to foster wider assimilation of more contemporary
technology in the market to enable the use of integrated business models.
Research Methodology
The research methodology used to evaluate local retailers in terms of their degree of
adoption of the Omni-Channel philosophy, was based on Marketo’s definition of the term, cited
earlier. A total of 105 top retailers in 23 sectors in Pakistan were randomly selected from various
sectors for this research. The distribution is mentioned below
Table 2
RETAIL BUSINESS SECTOR
RETAIL BUSINESS SECTOR TOTAL
Apparel 38
Art and Collectibles 5
Books 3
Branded Watch 2
Cell Phone 4
Computer 5
Electronics 7
Fashion Accessories 1
Footwear 9
Fragrance 1
Health and Personal Care 1
Home Décor and Appliances 6
Kids wear 3
Leather Bags 1
Luggage and Travel 4
18. INSIGHT INTO OMNI-CHANNEL 18
Music 3
Office Supplies 1
Pantry 1
Pet Shop 1
Silver Jewelry 1
Sports and Outdoor 3
Super Market 4
Toy and Games 1
105
Research was broadly based on 3 categories and 19 variables. The categories were:
1. Brand and Segment
2. Brand Presence in Retail channel
3. Omni-Channel Application.
Table 3
Research Variables:
Sales Channel Activation
Brand Name of the Brand
Segment Definition: Books, Apparel, Fashion, etc
Website URL URL of the Webstore
Brick and Mortar Is the brand housed in a physical store?
Webstore Does the brand have a virtual existence?
Internet Catalog / PDF
Download
Does the brand exist as a Catalog or PDF
and is not backed by a Webstore?
Both Does the brand exist as a Brick and Mortar
entity and has a Webstore too?
Webstore other than
Daraz.pk.pk
Does the brand have presence on Kaymu.pk
or another Webstore other than Daraz.pk.pk?
Daraz.pk.pk Does the brand have presence on
Daraz.pk.pk?
Mobile Readiness
Responsive Is the brand website responsive?
Mobile Apps Does the brand have an App?
Social Channel Presence
FB Does the brand have Facebook page?
Twitter Pinterest Does the brand have Twitter page?
19. INSIGHT INTO OMNI-CHANNEL 19
Google+ Does the brand have Google+ page?
Youtube Does the brand have Youtube channel?
InStore Kiosk Does the brand have Instore Kiosk?
Omni Channel Readiness
In Store/online Delivery Does the brand offer in-store pickup?
Exchange Does the brand offer exchange in-store for
the product bought online?
Refund Does the brand offer refund in-store for the
product bought online?
Research Findings
The Omni Channel Analysis of top 105 top retailers showed mixed results. Apparently it
is clear that, top brands are moving in the right direction to adopt Omni-Channel as best practices
in business. Perhaps, small businesses have yet to take initiative to embrace Omni-Channel to
reach digital customers.
The analysis was made in 4 segments:
- Sales Channel Activation – Figure 2.1
- Mobile Readiness – Figure 2.2
- Social Channel Presence - Figure 2.3
- Omni Channel Readiness - Figure 2.4
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Figure 2.1
The analysis reflects an overlapping pattern of Internet Retailers. A large majority of
Internet Retailers (97%) are simply the extension of a conventional business principally housed
in a brick and mortar facility. However, the trend of establishing a Webstore is catching on, as
62% of retailers offer it as an alternate channel. Supermarkets and apparel brands are becoming
more active in terms of reaching out to customers - 10% of such retailers have a catalogue on
their website but offer no online selling. 40% of retailers use other websites as their
marketplace. There are many such websites that have a growing number of visits. Some of them
are investing resources for building their reputation and reach. Dealtoday.pk and OLX who has
millions of monthly visits from Pakistan and real buyers with purchase power but Daraz.pk.com
serves by far the largest number of clients.
Brick and
Mortar
Webstore Catalogue Both
Website with
others
Website with
Daraz
% 97 62 10 60 9 31
0
10
20
30
40
50
60
70
80
90
100
Sales Channel Activation
of top 105 brands in Pakistan
21. INSIGHT INTO OMNI-CHANNEL 21
Figure 2.2
More than 40% of the web traffic in Pakistan is routed through mobile phones or tablets.
However, only two-thirds of the retailers are mobile-responsive i.e. organized to take orders via
mobiles, and only 11% provide their own mobile App. There is a big gap in the area and brands
need to take it more seriously when it comes to mobile enabled retailing, which is a vital
component of an Omni-Channel.
The digital GUI (Graphical User Interface) does not only need to be mobile friendly but,
it should also have Apps and adapt to various devices including kiosks so that, it can get adapted
to any device or browser. The Webstore should be responsive in every sense and adaptable to
mobiles, tablets, desktops and kiosks. Also, it should support various browsers as many devices
may have old browsers on their system. Moreover, the Apps should be built for Android, Apple
and Lumia platforms, so that the website is accessible to all users around the globe.
Responsive Mobile Apps
% 65 11
65
11
0
10
20
30
40
50
60
70
80
90
100
Mobile Readiness
of top 105 Pakistani brands
22. INSIGHT INTO OMNI-CHANNEL 22
Figure 2.3
As regards channels of communication, Facebook and Social Selling predictably top the
list as they are used by 90% retailers included in the survey. This was followed by Twitter at an
impressive 56%. YouTube, not surprisingly ranks the lowest with 18% because of the ban on its
usage in the country that has only been lifted recently, in January 2016. YouTube could have
otherwise served as a vital medium to boost online business in Pakistan as it has done elsewhere.
In the more developed markets Vimeos are also widely used as a means of visual
communication that creates stronger impact, but that is surprisingly under-utilized in Pakistan. It
can be reflected in the above Figure (2.3) that brands have yet to build their presence on main
stream social media like Twitter, Google and Instagram. For the time being, brands have a fairly
low level of social communication and engagement – most of the communication relates to user
FB Twitter Pinterest Google+ Youtube
% 91 56 27 20 18
0
10
20
30
40
50
60
70
80
90
100
Social Channel Presence
of top 105 brands in Pakistan
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tips and usage instructions, but there is ample scope for using social media for customer
relationship building.
In terms of delivery mechanism, 100% of online businesses surveyed confirmed the use
of home-delivery, but none of them provide customer the option of in-store pickup. The
percentage of outlets providing in-store exchange facility is quite overwhelming at 58%, perhaps
as a means of winning consumer confidence. There is no facility for in-store kiosks, although it
could speed up the ordering and delivery process.
Figure 2.4
Figure 2.4 clearly reflects that local retailers are not yet ready to provide constant
connectivity with customers through various touchpoints despite a big opportunity direct it to
mobile users. In-store kiosk is also important as it could not only facilitate prompt delivery of
goods top customers but it can also create another opportunity for customer engagement.
Another limiting factor in Pakistan is the limited use of credit cards in retail purchases for a
InStore Kiosk InStore Pickup Exchange
% 0 0 58
0
10
20
30
40
50
60
70
80
90
100
Omni Channel Readiness
of top 105 Pakistani brands
24. INSIGHT INTO OMNI-CHANNEL 24
number of reasons – principal among them, the concern for security, as well as the credit
processing fee and absence of direct refund facility to credit card users.
The Omni-Channel adaption starts as journey and completes as an experience. Brands
have to gauge and adapt their offering during this journey in order to reach, convert and retain
customer. Leading retailers in overseas markets are waking up to the notion of Customer
Lifetime Value (CLV), in view of the fact that the greater the CLV, the greater the likelihood of
revenue inflows into the business.
Key Conclusions of Research:
• Two-thirds of branded outlets surveyed have their own online stores whereas the
rest rely more on the marketplace through third party websites for their presence in social media.
• Retailers recognize the value of social media as 90% brands has their social
presence on Facebook, but they can improve their understanding of how social media can be
optimized as a communication and selling tool to reach out to customers. As yet, for instance,
retailers have low to nil presence on Twitter and Instagram, where millions of users get interact
on a daily basis.
• OmniChannel has four touchpoints viz. web, mobile, social and kiosk. Pakistani
brands are active in three of them and instead of kiosks various alternatives are sometimes
offered for order fulfillment - such as phone, SMS and Whatsapp, which is quite unlike the
practice elsewhere.
• Many stores offers return and refund facility, which attracts buyers to buy the
product, yet this in mostly done informally rather that according to a clearly spelt out policy.
Hence it can be concluded that Pakistani internet retailers have only reached half way,
enroute to adopting the Omni-Channel option. Most retailers currently offer cross-channel
25. INSIGHT INTO OMNI-CHANNEL 25
facility, which is a step ahead of a typical multi-channel facility for customers to experience. The
major gap remains in terms of in-store kiosks, using the physical store primarily as a pickup
point, as well as more flexible options for payments, refund and exchange.
Future Research
Pakistan has a growing retail segment - apparently very little research has been done so
far. There are a whole lot of topics that merit exploration, study and analysis. Looking at the
future, various aspects of Digital Retailing offer opportunities in particular for research. In the
area of Internet Retailing and Omni-Channel, the topics that could be or interest to researchers
and utility to retailers themselves are:
1. The Impact of Kiosk in enhancing Retailing Efficiency
2. Benefits of linking up multiple touch points for Retail/Modern Trade.
3. Potential for Mobile-enabled Retailing
4. How grocery business can tap market using QR code.
26. INSIGHT INTO OMNI-CHANNEL 26
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