IBMRetailChat

The New Retail Storefront
Exploring the topics of predictive analytics and the future of retail with Millennials.
   9 years ago
#ibmretailchatRetail Digital ReadinessExploring what ‘Retail CEOs’ are talking about driving digital readiness.
IBM Retail
Q5: Are retailers truly moving to 'omni-channel' for shopping? If not, why?
Nikki Baird
"Truly" is a big qualifier. I think many #retail cos don't realize the extent of business model change required
Patricia V Waldron
#Millennials require this - full inventory and price transparancy
Rachel Romba
In my personal experience they're moving slowly... that is, omni is still a brand differentiator for present
Ralph Jacobson
@ibmcpg Yes! They NEED to! Those that don't will be limiting their growth in the future! "Direct-to-Consumer" (D2C) CPG's are doing it! #cpg #retail
Nikki Baird
I have to give @Macys props - they are pushing hard on this topic. Seem to mean it down to their foundation
Shannon Wu-Lebron
retailers are working hard but need help inside their companies to execute the vision of #smarterretail
Nikki Baird
Good sign that @Macys is #omnichannel: total internal reorg
Patricia V Waldron
Per @IDC in 2015 CIOs will invest in omni-channel integration technologies as a top priority
John Furrier
this is loaded question; what channels? that is the issue; my data says they all want to do it but don't yet know; discovery of what channels is top priority
Nikki Baird
Another good sign that @Macys is #omnichannel (aside from CEO talking publicly about the changes): an executive in charge of omnichannel change
Prakash Mohapatra
even sears is pushing hard for omni-channel customer experience http://www.retailing...
Nikki Baird
@furrier I've seen more #retail make the shift from what to how - 2014 pivotal for that. But too many think it's a veneer, no real change needed
Shannon Wu-Lebron
@furrier it is #omnichannel so all channels are priorities, together, integrated
Patricia V Waldron
@Nordstrom is another #omnichannel leader with universal view of inventory, personalized service
John Furrier
@nikkibaird agree and would add that the "data" angle is about more discovery to iterate those definitions of what while executing the how; agility in the data is key imho
IBM Retail
@pvwaldron so people, process, technology, integration along with incentives remains challenge for retailers moving to omni
Patricia V Waldron
@furrier Integration is the biggest challenge - systems, information and processes
Nikki Baird
@furrier Yes! We've found a distressing lack of #omnichannel measures in #retail. How do you know it's working if you don't measure it?
Ralph Jacobson
@ibmcpg Omni-Channel? For email: “Triggered” email open rates were 76.7% higher in Q3 2014… And even more gets opened via Mobile. More channels the better! http://bit.ly/1CKfts... #cpg #retail
Rachel Romba
It feels like many #retailers think #freeship and #freereturns equals omni strategy. I can't wait to buy in-store and return online!
John Furrier
@nikkibaird You nailed it there; can't know if not measuring it!!
Prakash Mohapatra
@RachelRomba or buy in-store and call call center for return
Shannon Wu-Lebron
@nikkibaird real change is hard but necessary, which is why technology and experts can help. Too many retailers try to go it alone.
IBM Retail
We need to talk about this: More Evidence!: Why Marketing to Millennials is a Mistake for CPG and Retail Brands  http://bit.ly/1y3zwM...#cpg  #retail #millenials @Ralph_Jacobson
Ralph Jacobson
The more I hear about it, the less clearly defined the group becomes. There is no definitive age range, depending upon what you read. #retail #cpg
IBM Retail
Why is marketing to Millennials a mistake in this article?
Nikki Baird
I'm a believer. I look at Gen Z and think everything we learn about Millenials will go out the window when Z arrives on the scene
IBM Retail
@nikkibaird What are you seeing with Gen Z?
Patricia V Waldron
@Ralph_Jacobson #Millennials cannot be defined as a segment they are individuals, sez the #MillennialMindset
Ralph Jacobson
@ibmcpg Merchants and Brands need to realize Millennials are not one single type of persona #cpg #retail
Shannon Wu-Lebron
@Ralph_Jacobson the general definition I heard of #millenials is someone born in 80s and 90s.
Nikki Baird
GenZ: the visual generation. Video over words. Socially aware, but not as "activated" as Gen Y
IBM Retail
When you start using age to define persona can lead to trouble. #MillennialMindset
Patricia V Waldron
@nikkibaird goes back to the approach of mass to many to one - and now in-context
Lindsay Malloy
@PVWaldron Definitely! Millennials are individuals, That's like saying everyone at age 60 is the same and they all buy the same things.
Nikki Baird
I think eventually we will think of GenY as the traumatized generation: future not so bright, earth not so clean. Shapes their reality more than shopping
Prakash Mohapatra
@Ralph_Jacobson but the reality is can #cpg #retail companies avoid millenials
John Furrier
social graphs, interests graphs have been great technical advances now it's turning to "relationship graphs" as the key contextual element
Nikki Baird
GenZ, they don't see it that way. They see scifi future just within grasp, wonder why no one's invented it yet - so they will.
Patricia V Waldron
Read my blog "Millennials, Mobile and Merchandise' http://insights-on-b...
Shannon Wu-Lebron
@nikkibaird that's exactly what my kids think!
Prakash Mohapatra
@pvwaldron I agree Patricia..its a great post
Nikki Baird
One thing that GenY is doing that will impact all is demand for instant feedback. Good for #retail, and good for business in general
Lindsay Malloy
@nikkibaird I think it's more than GenZ. I'm wondering when everything in "Back to the Future" will be a reality...
Nihit Sharda
@PK_Mohapatra Can our predictive analytics predict that Why Marketing to Millennials is a Mistake for CPG and Retail Brands??
IBM Retail
Q6: What are some of the coolest technologies/brands you saw at #nrf15?
John Furrier
Very bummed that I didn't attend was at the #IBMz launch uptown that week
Nikki Baird
Video, video, video. I liked memomi's video mirror at Intel - step-level improvement over one I saw just 2 years ago
Nikki Baird
Lots of Internet of Things. But I liked the ones that could bridge customer and store associate to provide value to both
IBM Retail
@furrier it was great! will have to get you to come to NYC next year
Nikki Baird
For example, inventory-related ones that help the consumer learn, the associate find
Nikki Baird
The facial recognition stuff was way out there - will consumers care about privacy when cameras are ubiquitous? I don't know
Patricia V Waldron
@TescoLabs using augmented reality for shelf compliance
John Furrier
I think that retail will be "replatformed" and it's an exciting space as #IoT meets #BigData #cloud #mobile #social lots of bus and technology disruptive enablers happening; I'd love to go next year
Rachel Romba
@nikkibaird agree! I think Gen Z will have a much lower bar related to digital privacy
IBM Retail
There were many technologies that raised questions about about shopper willingness to share data.
Patricia V Waldron
@nikkibaird Emotion-sensing is important - text, voice and in person #IBMResearch
Shona Eliason
@pvwaldron I agree! So great to have @tesco @AngelaMaurer there with @ibmretail in the booth and Big #Ideas #nrf15