Digital transformation is for most small businesses the only way to survive the digital disruptions of the 4th Industrial Revolution. The digital disruptions are fueled by technology innovations that resulted in the “3rd Platform” which is built on a foundation of cloud, mobile, social, and Big Data technologies 1.
Many businesses reacted badly when the digital disruptions started to impact on their decision-making processes, operations, product roll-outs, and promotions. More importantly, they’d started to have problems engaging with their customers 1. Indeed, some big brand businesses that failed to embrace the 4th Industrial Revolution, has closed down.
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It seems to almost happen overnight, the Fourth Industrial Revolution. “Something’s coming. It’s picking up speed and will overtake most of us in the coming years. Industries will be disrupted, lifestyles will be altered, economics will be shattered as this revolution takes hold”, according to a press release by the Digital Journal.
Continue reading How the Fourth Industrial Revolution Shapes the Retail Industry
AI-powered smartphones is the latest attempt by phone manufactures to differentiate themselves from their competitors. They argue that customers will ultimately only buy the smartest phones. But how will the retail industry react to this new gadget?
Continue reading Very Clever AI-Powered Smartphones Empower Customers
The phenomenon of fully autonomous cars has begun. “Self-driving cars without a human behind the wheel could run freely on UK roads from 2021, the chancellor is set to announce”, according to AutoCar. Unfortunately, by replacing human drivers with robot drivers, the end of a rather emotional relationship that we are having with cars, will begin.
Continue reading The Dawn of Autonomous Cars, and the Demise of the Car Driving Experience
I got it when I discovered the virtual world, my avatar. It’s like jumping into an uncomfortable spacesuit and then free-falling from the physical world into the digital world. This is a world full of zeros and ones, to which they answer only yes or no, which should be only right or wrong. How on earth can we ever comprehend this abstract environment? We need to digitize ourselves. Hence may avatar and me…
Continue reading My Avatar and Me – Coping in the Virtual World
Fast adapting customers are leaving obstinate retailers in droves. Hence the headlines dominating retail news portals are about thousands of retail stores closing their doors. That’s happening because retail customers are adapting quickly and easily to the digital world of today.
Many retailers, on the other hand, aren’t keeping up with the changing buying habits of their customers. Indeed, they are ignorant at best and stubborn to keep on doing what they did for decades…
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Is voice-activated shopping the digital outcome that retailers need to offer their customers an effortless shopping experience? Or is it taking AI and machine learning a step too far?
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“Marketing automation is growing – sizzling fast, announced Michael Jans recently in his blog AgencyRevolution.com. In fact, there are eleven times more B-B companies using marketing automation than were in 2011 (VBInsight). Most visible marketing automation for retail customers are chatbots.
Advancements in artificial intelligence (AI), coupled with the proliferation of messaging apps, are fuelling the development of chatbots. Artificially intelligent chatbots or conversational agents can be used to automate the interaction between a company and customer.
Continue reading Marketing Automation is enabled by Artificial Intelligence, Big Data and Chatbots
3D printing technology for retailers is now emerging as an outcome for small localized retailers that are facing closure. However, as it is with most disruptive technologies, the advantages that 3D printing offer for retailers should be weighed against its potential pitfalls.
Continue reading 3D Printing Technology for Retailers – An Opportunity or a Waste of Money?
“The most successful retail companies are utilizing data science and predictive analytics (PA) to improve efficiency, improve marketing campaigns, and gain significant customer insight for a competitive advantage” says Christine Kern, contributing for Innovative Retail Technology. But what about the “not so successful” retailers? How can they share in the advantages that Big Data and PA offer? Retailers can – by using predictive analytics.
Continue reading Predictive Analytics helps Retailers to make sense of Big Data