Here for the first time? Welcome to our Best of X - Retailtech blog. We curate a weekly newsletter on all things Retailtech. Be up to date on the newest actions in the retail industry! We want you to win the race.
Here's what we found relevant for you:Walmart's progress on tracking its Lettuce on blockchainAmazon's 4-star storediscover products they love
Next, we look at how retail leaders improve customer acquisition and retention by introducing their best practices!
Then we focus on emerging technologies and their impact on future shopping experiences. Finally, we finish this edition on transforming your business by capturing the maximum value from cutting indirect costs.
#SMART SHOP #BLOCKCHAIN
From Farm to Blockchain: Walmart Tracks Its Lettuce
Blockchains are supposed to enable database updates without any central authority in charge. But currently, all of the tracking records for the Walmart blockchain are being stored centralized on IBM’s cloud computers. So why is a distributed database, such as blockchain even necessary? Is it more than PR? Find out more in this article. [nytimes]
Introducing Amazon 4-star
Amazon has created an Amazon 4-star store to be a place where customers can discover products they will love. Amazon 4-star’s selection is a direct reflection of Amazon's customers prefereneces. Amazon is like a child, curious and eager to try new things out. Probably we should learn by watching Amazon... [blogaboutamazon]
#DIGITAL CUSTOMER JOURNEY #BEST PRACTICES
How Retail Leaders Improve Customer Acquisition And Retention
Any retailer’s long-term health requires finding the right balance between acquiring and retaining customers. The 2018 Retail Strategy and Planning (RSP) webinar series, uncovered several new strategies for tackling these challenges For instance, did you know that brands still frequently fail to engage at key post-purchase stages using relevant messaging? Find out more... [retailtouchpoints]
AR tops the list of future shopping experiences
Shopping decisions that will be powered by augmented reality (AR) and virtual reality (VR). More personalized store experiences for customers through beacons, Internet of Things (IoT) devices and mobile apps. What about robots roaming the long aisles looking for misplaced items, inaccurate price tags? Is this the future of in-store shopping? Read here. [retaildive]
#OPERATIONS #COST REDUCTION
Beyond procurement: Transforming indirect spending in retail
For retailers seeking to cut costs and generate cash for growth investments, indirect spending can be a big untapped opportunity. Indirect costs—the goods and services that retailers purchase but don’t resell—are equivalent to 10 to 15 percent of sales on average, and most retailers know that their indirect spending is far from optimized. But while recognizing the potential is easy, capturing it has proven stubbornly difficult. Find out in the following how to capture the maximum value from a cost-reduction program. [mckinsey]
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