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Could Instagram Be the Future of E-Commerce?
DEVARAJ SOUTHWORTH | March 15, 2019
Born from the needs of British cold water surfers, Finisterre builds the best and most sustainable products possible for those that share our love of the sea. Finisterre is a B Corps certified business.
Article | March 4, 2020
The retail industry has experienced a rapid transformation in the last 20 years. And like other industries, the retail industry is also embracing the Internet of Things (IoT) technology for the innovative opportunities it offers. In fact, IoT has already been embraced in retail all around the world. For instance, the IoT in the retail market has been increasing at a whopping 20% CAGR since 2015 and it is forecasted to reach $35 billion in 2020. That being said, let’s examine the top 4 opportunities IoT technology holds for the retail industry in the year 2020 and how you can capitalize on them. Retailers that have embraced the IoT technology have already experienced benefits like reduced costs, improvement in overall performance, and enhanced customer experience.
Consumer has become discerning, ultimately asking more from a brand and ensuring everything from value, quality, convenience and eco-consciousness is catered for. This places a strain on bricks-and-mortar retail to provide a unique experience and a reason for buyers to log-off and leave the house. Julia Redman, founder, Buyers Eye, offers an insight into how to clear market confusion and differentiate brands. “The trend for buying less, but buying better, has the potential to completely change how we shop,” says Julia Redman. “GenZ and millennial consumers are very aware of the impact we are having on our environment and eventually this will signal an end to the era of ‘pile it high, sell it cheap’ fast fashion. Price will eventually cease to be the most important part of the value equation, with quality and sustainability becoming more critical factors in the customer decision making process.
The advance of Amazon’s cashierless technology is not a new story to the retail beat as of 2020. Since the first AmazonGo retail location opened in early 2018 with its much-hyped walk-in, walk out retail technology designed to make the line at checkout a thing of the past, Amazon has been slowly but surely expanding the technology’s footprint there are now 26 Go stores in operation in the U.S. with new openings scheduled for New York, Chicago, Seattle and San Francisco on the agenda for his year. And, as of reports two weeks ago, cashierless tech is breaking out of the small footprint, convenience store-esque locations that are Amazon Go stores. As of the end of February, Amazon announced the tech was making its full-fledged grocery debut in the form of Amazon Go Grocery stores.
Attendees and speakers of PSFK's World Retail Innovation Week expect a “great reset” in attitudes, morals and behavior, both on a personal and corporate level Last week, we ran an e-festival with over 100 talks across different topics related to innovation in retail, along the customer experience journey and beyond. For many attendees and the speakers themselves the talks provided moments where they could both focus on the future and deal with today. With speakers from brands, retailers, solutions providers, tech firms and consultants, what did the audience really learn about the future at World Retail Innovation Week? We ran lunchtime town-hall sessions each day to hear from the professionals attending WRIW events and they told us about a number of themes that they believe will drive retailers,
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