As always, 1WorldSync has an exciting line up of events, sessions, and ceremonies for our customer community. This year, we are bringing you an interactive #1WorldSyncSelfie Scavenger Hunt as a way for you to get involved with other attendees and participate in all that we have to offer! The rules are simple, and more importantly, a surefire way to make the most of your conference experience!
We’ve talked a lot about how the retail industry is going through a transformation in this blog. The consumer, and their desire to make informed purchase decisions are driving most of this change. As retailers begin to adapt to the connected consumer, many of their systems will begin to change in order to support the experience the consumer is demanding. The one system change that will likely take the lead in this change is the Point of Sale (POS).
Retail stores are doing everything they can to entice consumers to visit their location, and forego shopping online. The theory is that a superb in-store experience, combined with instant fulfillment, will make even the savviest connected consumer spend more time and money in the store. For this to happen however, there is a bar for convenience that has been set by the e-commerce industry that must be matched – checkout.
The future is hard to predict – but there’s one thing for certain: change. The ascendance, evolution and influence of digital consumers changes the game. That ‘game’ is Marketing, Sales, and the very capabilities of companies to manage, store, maintain and distribute information about its products. This is the information that makes its ways to digital consumers and digital shoppers any time and any way. The companies that have the savvy and the foresight to build the core capabilities needed to deliver to these consumers will win.
Think of digital consumers in three ways. The first, and simplest, is to think about their use of devices, which are constantly changing, sometimes unpredictably. Smart phones, tablets, laptops, watches, (glasses, drones?)…the list goes on. Who’s to predict which devices will dominate in even in the near future?
The second, more important way to think about digital consumers is to understand the contexts in which they will interface with brands and brand information. Where will consumers be and in what situations as they discover, research, share, form an opinion on, recommend, and purchase products? Could the automobile be the most important informational ‘hub’ location for consumers in 2020 because it’s so central to so many contexts? (Will there be an Apple car?).
It’s really about the information. To think about digital consumers is to think about the information that they will demand and expect, in every context. They will expect information to be current, accurate and rich. That would be images, videos, claims, specifications, ingredients, reviews, social-cohort recommendations, purchase sites and locations, with certainly more to come.
The companies best positioned to deliver to and win with digital consumers are the ones that understand the vital importance of information and its context. They’re building strong capabilities around governance and delivery of their product data. That’s one thing to control as they face a mostly unpredictable future.
How does your business address product risk and compliance? Are you simply coping from one regulatory mandate to the next… stringing several point solutions together as you go along, or is there a more holistic solution. For most businesses, addressing product risk and compliance is not an easy one to answer and you are certainly not alone. Collecting, storing, managing and validating product safety or risk-related information is not a simple undertaking. Whether you are a medical device manufacturer preparing to comply with the upcoming FDA UDI regulations, a Foodservice brand owner selling your products in Europe enforced to comply with EU Food regulations (e.g. EU 1169 ) or a retailer facing demands for accurate, robust and legally compliant product information from consumers. The ability to control quality data and its distribution across a large network of external trading partners becomes an ever growing challenge. With legal and regulatory drivers behind these needs, failure to manage product risk effectively is not an option, and can have a major impact upon your sales and brand. Continue reading
It’s been over 10 years since the first data was exchanged via the Global Data Synchronization Network™ (GDSN) and much has changed. In my 10 years of involvement in product data exchange through the GDSN, data synchronization and information exchange has never been more exciting than it is now. The ability to talk first-hand about “Big Data” at a cocktail party has never gotten so much attention.
The Mobile Product Information Gap
Online sales in the U.S. totaled $263 billion dollars in 2013, an increase of almost 17% from 2012 according to the US Census. According to research firm Javelin, mobile commerce accounted for almost $60 billion, representing 188% growth from 2012. While this impressive growth in mobile commerce represents a tremendous opportunity for the retail industry, it also represents a huge challenge.
I am excited to introduce the 1WorldSync blog where you can learn about the latest happenings with our solutions, be educated on best practices from our experts and get connected to your community, while following 1WorldSync bloggers around the world. Continue reading
The Harvard Business Review ran a great blog post: The Future of Shopping. The post pointed out that every 50 years or so, retail undergoes a major transformation.
Every 50 years or so, retailing undergoes this kind of disruption. A century and a half ago, the growth of big cities and the rise of railroad networks made possible the modern department store. Mass-produced automobiles came along 50 years later, and soon shopping malls lined with specialty retailers were dotting the newly forming suburbs and challenging the city-based department stores. The 1960s and 1970s saw the spread of discount chains—Walmart, Kmart, and the like—and, soon after, big-box “category killers” such as Circuit City and Home Depot, all of them undermining or transforming the old-style mall. Each wave of change doesn’t eliminate what came before it, but it reshapes the landscape and redefines consumer expectations, often beyond recognition. Continue reading
We have come a pretty long way since we’ve hunted our dinner with crossbows and scavenged leaves and berries from the forests. In the 21st century, modern civilization is running global food and product supply chains that make markets independent from seasonal and regional restraints.