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Retail @ Hyperspeed- How the Internet of Everything is permanently changing consumer behavior in turning the retail world upside down.
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Retail at Hyperspeed
Ray MajorRetail World Conference + Tradeshow
13th-14th May 2013
Melbourne, Australia
How the Internet of Everything is permanently changing consumer behavior in
turning the retail world upside down.
Adapt or Die
WHY NOW ?
Long wave Economic Cycles
Railway, Steel1830-1880
Electrification1880-1930
AutomobilesPetrol
1930-1970
TechInfo. / Comm
1970-2010 Bio/nanotech
2010- 20xx
Impact on Retail:• Gen. -> Dept. Store• Mass Distribution• Catalogs
Impact on Retail:• National Brands• Chain Stores• Lights• Refrigeration
Impact on Retail:• Supermarkets• Shopping Centers• Indoor Mall
Impact on Retail:• Scanners• Analytics• Category Killers• Internet redefines
retail• 70% on-liners
make purchase
Confluence of Technology• 2005 – Big Data• 2006 – Mass text• 2010 – HTML 5• 2010 – iPad• 2012 --Internet of
Things• 2015-- Internet of
Everything
The Road Ahead – Technology Convergence and the impact on Retail
Memory and SpaceWi-Fi and Network
Mobile AccessDatabase Technology
Internet
Today’s Priorities
84% of mobile users keep their device within 10 feetat all times.
“Phones” move from discrete solution to an assumed part of daily life.
Stops being a technology --
becomes “embedded”
“assumed”
and “integrated”
99% of the physical world is not connected to the internet
The internet of EVERYTHING
The Internet of Everything connects the Physical World to the Internet
Using Microsensors, everyday objects become connected and intelligent
Decisions happen in real time and in the background
2002
2003
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2005
2006
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2008
2009
2010
2011
2012
2013
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2015
2016
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2018
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2020
0
10
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The Internet of Things
50,000,000,000 things connected by
2020
More connected devices
than people on earth
Big Data
o By 2015 o 1 Zettabyte of data will
flow over the internet
o By 2020oData Production up 44
foldo B2B and B2C internet
transactions = 450 billion per day
Earth
Pluto
Stack of books 20 times
“Real-time” becomes “Real-time”
o There are more mobile devices than people on earth
o By 2016 –oMobile Speed increases 9 foldoMobile Traffic increases 18 foldoHome Network speeds increase 20 fold o video calling increases 25 fold
o By 2020, anyone can broadcast anywhere, to anybody – on any device.
The real value lies in the connection of People, Processes, data and things.
A&M market needs fresh-
fishI need
another pair of shoes
They’ll be home any
minute with fish, light the
Barbie
The service technician is on his way
Lower the prices on carrots, we
have too many
Smart World 2023
• Missed or unidentified sales opportunities
• Inefficient geographic selling
• Inflexible product lines
• Lost sales due to shifting competitive pressures and poor timing
• Little holistic assessment of a customers wants and needs
Today’s Retailing Challenges
Today - 2013
I.O.E. applied to BI
IoE Analytic Framework
Identify Design Inform Distribute
Identify at Hyperspeed
Identify
Massive amounts of new data
Data from Consumers impacts brand awareness and cache’
1. Scan2. Track3. Rate 4. Review
Consumerare Empowered in Real Time
Retailing occurs in real time
Design at Hyperspeed
Identify Design
Most companies BICRM
POS
CRM
POS
Not Easy
xYour Business Intelligence Assets
Cluster Analysis
Simulation Modeling
Regression Analysis
Descriptive Statistics
Prescriptive (what actions should be taken)
Prediction (What might
happen)
Forecasting (What might happen)
Monitoring (what’s
happening now)
Analysis (why did it happen)
Analytic Continuum
High
Low
Com
plex
ity
Business Value
Reporting (what
happened)
Behavioral Questions “Who are my best customers?Where do they live?What is their most likely next purchase?
Quantity Questions How much inventory do we need to carry?What stock levels will be left at the EOM?What will Sales finish at this year?
Optimal Outcome Questions (potential outcomes based on complex interactions)How can we achieve the best outcome?What is the impact of a cold winter on our business?
Inform at Hyperspeed
Identify Design Inform
Situational Intelligence
Geo-location based analysis
Context Aware Application
Natural Language Queries
Predictive AnalyticsHalo Source
Business Intelligence Systems
Distribute at Hyperspeed
Identify Design Inform Distribute
Distribute at Hyperspeed
Distribute
New Retailing - Big Data and Personalization
• Bridge between online and Brick-and mortar
• SEAMLESS SHOPPING EXPERIENCE
• Personalization• Recognize who you are• Personalized promotional offer• Knows your favorite fit and size• Match transaction to buying patterns• Issue incentive
Expert Advice
Personal Shopper
Hyperspeed Cross-sell
• Missed or unidentified sales opportunities
• Inefficient geographic selling
• Inflexible product lines
• Lost sales due to shifting competitive pressures and poor timing
• Little holistic assessment of a customers wants and needs
• Increased sales from real-time market assessments and reactions
• Increased selling from location-based selling
• Increased sales from better use of internet driven segments
• Increased sales by directly tying pricing to current selling situations to customer ability to pay
• Increased sales from improved coordination with other products and services
Potential of the Internet of Everything
Today - 2013 Tomorrow - 2023
Retail at Hyperspeed
Ray MajorRetail World Conference + Tradeshow
13th-14th May 2013
Melbourne, Australia
Thank You !
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