Retail was one of the first and most disrupted industries by the emergence of the internet. What years later would be referred to as Web 1.0 drove exponential growth in remote selling with the ecommerce revolution. The arrival of Web 2.0 with social, mobile and saas was also very impactful, so much so that all of these innovations are now taken for granted and mainstream in the retail industry.
In his yearly letter to shareholders published 15th of April 2021, Jeff Bezos shared some fascinating back of the envelope calculations on the value that Amazon creates to its customers.
28% of purchases at Amazon are completed in three minutes or less and 50% in less than 15 minutes. He concludes than on average a shop in Amazon takes 15 minutes. In contrast, he mentions that a visit to a store would take on average an hour and each customer would save two visits to the store per week (this latter part lacks mention of how that data was arrived…
Another great show this year at NRF in New York. Between great meetings with our customers and partners, some impressions below from the exhibitor floor
Store Digital twins
Satya Nadella mentioned them in his opening keynote of NRF and were a topic of conversation with many partners. A digital store twin in the cloud that can monitor and predict behavior is a proposition full of potential applications across customer, product and inventory.
The increase on the number of sensors and general data gathering end points at the store augments the fidelity of the digital replicas. At SkillNet, the virtualization and…