Digital manufacturing: The revolution will be virtualized The digital revolution is now breaching the walls of manufacturing as it continues to disrupt media, finance, consumer products, healthcare, and other sectors. Indeed, the explosion in data and new computing capabilities—along with advances in other areas such as artificial intelligence, automation and robotics, additive technology, and human-machine interaction—are unleashing innovations that will change the nature of manufacturing itself. Industry and academic leaders agree that digital-manufacturing technologies will transform every link in the manufacturing value chain, from research and development, supply chain, and factory operations to marketing, sales, and service. Digital connectivity among designers, managers, workers, consumers, and physical industrial assets will unlock enormous value and change the manufacturing landscape forever. Yet while manufacturing generates more data than any other sector of the economy, few companies are harnessing it. About the authors
McKinsey - How B2B companies talk past their customers Although the digital-marketing revolution’s clearest ramifications and earliest impact may have come in the consumer arena, it’s also roiling the world of business-to-business (B2B) brand building. Business customers, like consumers, engage with companies through search, online communities, and Web-based video, so these are potentially powerful tools for delivering B2B brand messages and amplifying their impact. Our research suggests a potential stumbling block, though: a marked apparent divergence between the core messages companies communicate about their brands and the characteristics their customers value most. In our research, we examined publicly available documents of Fortune 500 and DAX 30 companies to develop a list of 13 themes and topic areas that companies use to position their brands. The results were revealing (exhibit). Exhibit The themes that many B2B companies consider important for brand imaging appear to have minimal influence on buyers’ perceptions of brand strength.
Personalization Strategies to Attract and Retain Customers With recent changes in consumer shopping habits, many companies are adopting sales and marketing strategies that reflect a more personalized approach to servicing their customers. This article focuses on personalization and on ways you can gear your business to provide products and services individualized to your customers' tastes and needs. The steps outlined in this discussion are designed to help you increase customer traffic and realize larger profits — whether you operate in the retail sector or in the realm of e-commerce. By citing specific cases, this article reveals how you can establish an individualized approach through marketing strategy and product offerings, and it provides assessments that will help you determine if your company is a good candidate for customization. It also explains how to best handle implementing a strategy, which particular strategy is best for you, and whether your personalization plan is ready for the Internet. I. Think about it. II. Back to Outline
70% Of Consumers Want More Personalized Shopping Experiences With the busiest ecommerce period of the year now upon us, brands should look to collect the data necessary to better understand their consumers, with a view to delivering personalized experiences in the near future. Increasingly, research is showing that this is what consumers are coming to expect from brands. The modern marketer faces many challenges. For ecommerce retailers, often months of planning, strategy, and preparations will hinge on the results of seasonal marketing performance. The seasonal shopping period is crucial because success breeds success. Above all, data allows brands to create personalized, unique and optimized experiences for consumers – finely tuned for each individual preference. However, recent research has shown that increasingly, consumers feel ready for personalized experiences and are willing to divulge a little data if it means making their lives easier. Consumers Expect Personalized Experiences What Personalization Really Means
Lyst - Your World of Fashion Q&A: Augmented Reality and its Prospects - Euromonitor International Blog Reality as we know it is becoming blurred by the introduction of new technologies, which are set to reshape the way consumers interact with devices and their surroundings. Augmented reality, an amalgamation of virtual reality and real life, is the latest technology to provide an immersion environment that can be controlled without traditional physical button-pressing techniques. Its potential applications on a business and consumer level are numerous, despite its relative infancy. What are the differences between virtual (VR) and augmented reality (AR)? What are the differences between virtual and augmented reality? VR was an earlier concept that has long been held as the peak of technological progress, romanticised as it was by science fiction. In what industries does augmented reality offer practical applications? AR has the capability to utilise sophisticated motion-sensing cameras to help devices create a convincing model or image. Is augmented reality a natural fit for wearable tech?
Role Call | Miyon Im, Head of Product - The Business of Fashion There are few sectors of the economy that offer as wide and interesting a range of career opportunities as fashion. In our continuing series to correspond with the launch of BoF Careers, the global marketplace for fashion talent, we highlight some of the industry’s most interesting jobs and the talented people who do them. LONDON, United Kingdom — After working at Net-a-Porter and Nokia, Miyon Im became head of product at Lyst, a fashion-tech start-up founded in 2010 by Chris Morton that enables users to build a customised shopping experience driven by personalised product feeds from brands and retailers. BoF: Please describe your current role. MI: As head of product, my job is to make Lyst the best experience for our shoppers and come up with ways that will make people want to come back again and again. It’s a very multi-disciplinary role, which makes it challenging and exciting. BoF: What attracted you to the role? BoF: What is the most exciting project or initiative you have worked on?
10 ways how augmented reality can help retailers January 29, 2014 Daria Gaioshko is product marketing manager at Augmented Pixels By Daria Gaioshko Innovation trends nowadays influence significantly the brand’s marketing strategy. Not surprisingly, mobile devices have become a vital element of the sales process, especially in decision-making. Following the trend, augmented reality has emerged as an innovative tool that allows brands to interact with consumers on their mobile devices. Integration of augmented reality in marketing efforts aims to build consumer relationship, boost sales and add value to the shopper experience. Here are top ten ways that augmented reality can help retailers with videos to showcase: 1. Increased online conversion rate and reduced returns led to improved company profitability. 2. Augmented reality can improve navigation around warehouse territory when big spaces and many inventory items are involved. 3. 4. 5. 6. 7. 8. 9. 10.
Retail Roundup: Selfridges invests £40m in digital offering; Radley banks on personalisation to boost international e-commerce; and why supermarkets need to stop emulating Aldi to succeed Handbag and accessories brand Radley is hoping that a plan to tailor its e-commerce offering will help boost its growing international reach. The retailer has experienced a successful uplift in e-commerce sales since it embarked on a push over two years ago, and is touting the Radley website as an opportunity to expand its portfolio outside a relatively small bricks and mortar offering of 33 stores. Speaking to The Drum Rowan Luckie, head of e-commerce at the brand, which has recently inked a deal with cloud-based testing and targeting company Monetate, said it is looking to add “the next dimension” to its e-commerce offering. “We recognise that there is growing demand from overseas markets but we’re still a relatively small team within the business, so in terms of making sure we optimise the resources that we have, we can’t build new websites for every territory. Monetate will help us tailor our content in terms of seeing where customers have come from.”
Introduction to the Special Issue: Information Technology in Retail: Toward Omnichannel Retailing | IJEC Introduction to the Special Issue: Information Technology in Retail: Toward Omnichannel Retailing Wojciech Piotrowicz and Richard Cuthbertson, Guest EditorsInternational Journal of Electronic Commerce, Volume 18, Number 4, Summer 2014, pp. 5-16. Abstract: The increased deployment of new technologies such as smart mobile devices and social networks and the growing importance of in-store technological solutions create new opportunities and challenges for retailers. As the line between online and physical channels is blurred, a new approach to channel integration is emerging—the omnichannel, which aims to deliver a seamless customer experience regardless of the channel. This introduction presents the results of focus group discussions on the role of information technology in retail, new business models, and the future role of traditional stores as e-commerce advances. Omnichannel Retailing Focus Groups The focus group approach allowed us to collect much data in a short time . Conclusion
Amazon leads the way for personalisation, say 82% of consumers Four out of five (82 per cent) UK consumers said that no company offers the same levels of web-personalisation as Amazon, according to a new study by big-data marketing company BloomReach. The 2014 Consumer and Marketer Personalisation Study, conducted by RedShift Research, highlights the growing technology gap between the retailing giant and the rest of the e-commerce landscape. The study, which sampled 1,000 UK consumers and 122 UK online retailers, found that 34 per cent of retailers thought brand reputation was the most important factor when consumers choose a retailer and just 2 percent thought that a personalised shopping experience was an important factor. However, 31 per cent of consumers said they would be more likely to make purchases if they were offered personalised experiences such as product recommendations or tailored content and 85 per cent said brand reputation was not an important factor.
Mobile Computing and Wireless Networks: Concepts, Methodologies, Tools, and ... We live in a wireless society, one where convenience and accessibility determine the efficacy of the latest electronic gadgets and mobile devices. Making the most of these technologies—and ensuring their security against potential attackers—requires increased diligence in mobile technology research and development. Mobile Computing and Wireless Networks: Concepts, Methodologies, Tools, and Applications brings together a comprehensive range of voices and research in the area of mobile and wireless technologies, exploring the successes and failures, advantages and drawbacks, and benefits and limitations of the technology. With applications in a plethora of different research and topic areas, this multi-volume reference work benefits researchers, service providers, end-users, and information technology professionals.
43 per cent of consumers abandon online shopping cart before purchase claims Redshift Research study Just under half of online shoppers have abandoned their online shopping baskets at some stage in the last year new research has found. According to research by industry analyst Redshift Research, which sampled the views of 1,000 online shoppers, has found that 43 per cent of consumers had failed to complete an online purchase despite having items contained within their online shopping basket. The reason for this was a lack of customer interaction, cited by 44 per cent of respondents, meanwhile another 34 per cent said that a lack of support prevented them from shopping online altogether. Over half (59 per cent) said that being able to see and speak to a sales assistant would make the purchasing process easier, while a fifth (19 per cent) blamed poor customer service online and 15 per cent highlight confusing or conflicting information as putting them off the completion of an ecommerce transaction.
Mobile augmented reality app installments to reach 2.2 billion in 2019 - Business of Apps The market for mobile augmented reality has grown rapidly over the past years and is to continue its upward trend, according to Tractica. The intelligence firm just released findings which show that the number of actively used mobile augmented reality apps will grow from 292m this year to 2.2bn in 2019, an annual growth rate of 76%. Spawning a broad variety of sectors, Tractica predicts that the retail and e-commerce sectors are set to become the strongest adapters of the technology, followed by education/toys, and the gaming/entertainment industry. Mobile augmented reality apps by sector Source: tractica.com Craig Foster, Principal Analyst, Tractica, says: “Growth in mobile augmented reality adoption will be driven by an expanding set of use cases and application types, including some categories with very high rates of ‘stickiness’ that motivate users to continue utilizing the apps long after the initial download. Large companies such as Apple have already jumped on the trend.