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My Book: "The Next Wave of Retail: Anticipating and Preparing for the Future of Shopping" Book and Thank You · The Retail Podcast

• 0:00
  Hello and welcome back to the retail podcast.
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  In today's episode, I'm going to share the first part of the book
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  with you, the introduction and and the first chapter which is
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  only take about 10 minutes. The other thing I wanted to
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  thank you. If you're listening in places
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  such as Vietnam Venezuela Uruguay, the United States,
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  obviously the United Kingdom, United Arab, Emirates Israel,
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  turkey Ukraine Thailand, Taiwan, Switzerland, Sweden, South Rika,
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  Singapore, rut Qatar, Portugal Poland, Philippines Panama
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  Pakistan, Norway, New Zealand, Netherlands, Moldova, you get
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  the picture. We have a global Community
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  listening to this podcast there. And I want to thank you.
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  I think. And I want to thank you for your
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  time, your energy, your feedback, and your comments, and
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  support throughout the growth of the podcast.
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  Without further Ado, let's get Get to the book the next wave of
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  retail anticipating and preparing for the future of
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  shopping introduction. This book provides a glimpse
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  into the retail World in 2034. This book is not just about the
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  future, it's about the now and how if you follow the foundation
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  set in this book, you will be able to position yourselves to
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  stay relevant in a changed and transformed world.
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  I've worked in the technology industry for over 25 years with
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  government's Global financial institutions retailers and
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  organizations that are building the foundation of tomorrow
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  today. However, for me, the path to the
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  Future started in 2013, when to client Partners tiny Orissa
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  huffed and Simon Kettle who were leading Verizon's engagement
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  asked me to meet with the head of Technology at Tescos.
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  The UK's largest retailer and the globe's, second largest
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  retailer at the time and they both warned me.
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  Be careful. This guy doesn't suffer fools
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  lightly so I turned up to a fishbowl executive office.
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  Apprehensive and nervous in well and Garden City.
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  Just on the outskirts of London and the late Tom Cadillac who I
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  later in life. Had the great honor of calling a
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  friend had a vision for transformation at Tescos.
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  The UK's largest retail. He wanted a better data, LED
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  outcome driven environment not just for the sake of Technology
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  sake but a better platform across the business for
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  customers and guests. Tom said to me a lie, I want you
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  to build the store of the feature and for God's sake,
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  don't focus on just the Technologies features and
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  functions of focus on our values.
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  Six months later, and a Consortium of the hottest
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  startups from Silicon Valley and the UK established technology
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  partners of Verizon. And I work, you are checking
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  Verizon's, then CEO and Tesco's. Legendary CIO Mike McNamara.
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  Who went on to transform Target in the US's entire approach and
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  strategy for technology. We check them into a 60,000
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  square foot store just on the outskirts of London and what I
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  didn't know then. But I now know is that I jest or
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  we had just built the first frictionless.
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  Touchless cloud-based shopping experience.
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  You could pick up a product scan and pay via a custom-built at
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  PayPal. Pay for your item and the
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  digital identity that was being used at the time, would then go
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  on to become the UK, government's Federated digital
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  identity. Part of the ecosystem, the
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  clicking collect solution, Opus, buy online, pick up in store
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  solution, would grow to become Q dini who are recently acquired
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  by very net, and a plethora of other Technologies use in 2013.
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  With now, become commonplace during the 2020 plan, demek
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  including social commerce later in my career.
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  I would meet Chris luxford from the Aspire group who also became
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  a dear friend and a mentor. All who helped me understand
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  that the only other way to approach transformation is by
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  focused on the changing business models, and the outcomes that
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  are then being produced. The pandemic sped up
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  transformation across all digital channels, highlighting
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  supply chain weaknesses worldwide.
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  Unfortunately, the current inflationary environment as the
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  upcoming currency, Global interest rate capital and cost
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  of living crisis, will push more consumers to the verge of
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  financial collapse along with the institutions that serve them
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  capital and liquidity will evaporate.
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  Even before the pandemic, it was hard for many brick, and mortar
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  stores to stay open, And customers interested in the
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  products and spaces, but will shopping and retailing return to
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  normal, as if financial crisis expanse, retailers must shape
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  their organizations to generate value, leverage technology to
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  enables tomorrow, smart consumers.
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  Create who you need to be. The current period is one of the
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  exponential structural and financial change in which events
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  are occurring, rapidly, as a result, businesses must be
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  nimble enough to Pivot physically and digitally swiftly
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  and successfully retailers, and Business Leaders need to predict
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  what customers want, what is it likely to happen and what is
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  plausible for them. Then put their retail businesses
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  and Brands to the test against all possible assumptions while
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  driving Innovation and Delight into the customer journey and
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  the path to purchase. Poor physical experiences on a
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  lack of relevance, shuttered, many High Street stores and
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  malls, as consumers, flock to better experiences and more
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  relevance online. Shopping customers will continue
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  to demand immersive shopping experiences provided by
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  augmented reality into the metaverse.
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  We go and sales channels must include virtual and physical
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  reality experiences and fulfillment which already
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  includes Strong will only continue to grow Brands, will
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  enable customers to move from offline to online and
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  personalized experiences that will be demanded by consumers.
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  The current cost of living and financial crisis continues to
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  push contactless customers to shop and expand, e-commerce
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  options, curbside, pickup, and touchless shopping.
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  The global crisis exaggerated, the Divide between non more
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  businesses, such as big box stores and more based retailers,
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  who will survive and move into the future.
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  What did customers really want the experience of searching for
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  different items or the convenience of a One-Stop shop?
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  The pandemic and economic crisis underscored the differences
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  between the wealthiest Shoppers and those who always have to
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  watch what they're spending. It is now spread to the middle
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  class has and will continue to grow causing household budgets
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  to shrink irreversibly over the next decade.
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  It has also taught us how to pay for goods and services
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  differently. Cash is no longer King and
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  touchless and digital payments will continue to bun with the
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  introduction of Of new government back digital
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  currencies. How will our online purchases?
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  Be delivered, consumers, want, rapid and safe.
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  Deliveries, the use of drones autonomous delivery trucks or
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  retail stores simply delivering our packages to US will become
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  commonplace as Ultra. Local AI driven convenience The
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  Echoes of the future are already here of retailers can tap into
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  the communities. They serve and generate an
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  ongoing conversation that is two-way and He base, they may
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  discover that their customers needs have already drastically
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  change. Retailers must change grow and
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  use new strategies and business models along with Technologies
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  and algorithms. So what will the future of
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  retail? It'll be exciting.
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  It will be personalized, L, be adventurous and different yet.
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  Retail shopping will grow as entertainment.
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  The utility of retail will continue to diminish and be
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  automated, but it will be in the operational structure.
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  Retail that will see the most change.
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  Chapter 1 retail in the future. no one could have really
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  predicted the pandemic and no one could have predicted the
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  pandemic would change retail shopping and the supply chain
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  trajectory when Russia invaded Ukraine.
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  Everyone thought that the inflation energy crisis would
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  only challenge businesses operating costs.
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  And not push us further into the fourth.
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  Turning the fourth turning is a concept and book by historians,
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  William Strauss and Neil how that States history repeats
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  itself in four distinct periods. Known as turnings.
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  They, approximately last 20 years each, a turning is a
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  different part of a civilizations life cycle.
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  And these parts are marked by big events and changes in
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  culture. In particular, the fourth
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  turning is a time of crisis. When the old order falls apart
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  and a new one is put in place. The fourth turning is important
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  for the retail industry because it is a time when there are big
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  changes and disruptions in the market, such as the continued,
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  peripheral ation of smart devices, and Smart Homes, as
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  well as the increasing Reliance on digital channels.
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  As a result consumers now have access to a vast array of
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  products and services. This has resulted in a
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  significant shift towards new experiences and demands as well
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  as a need for more immersive. Long term digital experiences
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  because of this traditional brick-and-mortar stores have had
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  a hard time making the transition to a digital age.
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  Many businesses haven't been able to keep up with the speed
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  of change and have had to close others.
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  Have been able to stay in business, by focusing on online
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  sales, and building a strong, digital presence, and brand,
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  which is not enough in the cost challenge environment of today,
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  retailers need to be proactive and flexible to deal with the
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  challenges of the Off turning and to grow well in the digital
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  age, this means embracing new ways to use existing
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  Technologies but more importantly better business
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  models and new business model which give retailers more ways
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  to reach and connect with custom.
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  It also means being flexible and able to react quickly to changes
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  in the market such as changes in our customers act or the arrival
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  of new competitors. The role of the customer
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  experience is critical Tickle. Now as it has ever been and as
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  it will be in the future for retailers to think about, during
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  the fourth, turning cost constraint consumers, have high
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  expectations for how good an easy.
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  Their experiences will be to meet these expectations
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  retailers need to focus on creating shopping experiences
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  that are easy personalized and fit.
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  The customers need and sizes both biologically and physically
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  as well. As their aspirations and
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  desires. These means investing in
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  Technologies, like, artificial intelligence machine learning to
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  give potentially personalized dna-based recommendations, or it
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  could mean offering convenient options, fulfillment, Beyond
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  home delivery. Finally, retail is in the
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  fourth. Turning need to be aware of how
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  important sustainability and social responsibilities are As
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  people become more aware of their purchases effect on the
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  environment and Society. They are looking at Brands to
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  share their values and beliefs sustainable and socially
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  responsible. Retailers are more likely to get
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  and keep loyal customers in the long run by being transparent
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  across their demand and Supply chains.
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  The following are lists of the next topic areas, the book moves
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  into immersive Touch free shopping experiences, e-commerce
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  acceleration. The split between department
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  stores and shopping centers or malls, destination centers and
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  Community hubs destination centers and Community hubs as
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  Innovation, centers value centers. residential space
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  fashion and what do consumers want in the changes in retail,
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  retail establishments, in airports retail environmental
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  design Reserve, shopping sites and sounds personalization
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  Blended experiences, dressing rooms as data, centers, physical
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  spaces, as escapes, and consumers, rule, Supply chains
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  seamless shopping price, Tations maintaining asset tracking.
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  Multi-platform marketing attribution which then leads
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  into chapter 2 Esports generation once again, I'd like
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  to thank you for staying with us for giving me your time.
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  Hopefully the chapter was enlightening and I look forward
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  to your feedback comments five-star ratings likes shares
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  and everything else and I look forward to the next episode of
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  The Reel. Tell podcast with you.