Living in a Connected World: Are You Always “On”? Segment 1

Posted on July 10, 2017 by bermanevansretail

We live in a digitally connected world, where many of us are regularly “on.” According to a study by A.T. Kearney of 10,000 ‘connected consumers’ (people who say they connect to the Internet at least once a week):

“Our findings are fascinating and at times counterintuitive. Here’s the quick view: Continuous connectivity. More than half of survey respondents say that they are connected to the Internet nearly every waking hour.Four motivations for connectivity. People go online because it meets four basic, universal needs: interpersonal connection, self-expression, exploration, and convenience. The power of social media. Social networks are where connected consumers spend the most time online. They are effective in gaining brand interest and purchases among younger consumers. Yet, number of users on a social network is not necessarily an indication of engagement or purchases. The convergence of physical and online stores. While most purchases today are still made in store, more than half of survey respondents say they prefer shopping online and the online experience. Connectivity does not mean consumers do everything online; but being connected offers access, speed, and convenience.”

 

Recently, Zarb School of Business Distinguished Professor Joel Evans of Hofstra University did an extended radio interview with Suzanne B. Phillips, Psy.D. on living in a connected world and the growing phenomenon of always being “on.” Connectivity involves using digital devices to interact with the outside world, including smartphones, smart TVs, wearable devices, GPS, computers, tablets, home security systems, and more. This interview is divided into three segments for YouTube.
 

Segment 1 highlights these topics:

• Evolution of connectivity – today, it is much more high-tech and less personal
• How connected people are – from waking to going to sleep
• Reliance on the smartphone to access the Internet and social media
• Many of the motivations behind digital connectivity
• Time spent with and uses of digital connectivity
• Passive versus interactive connectivity
• Global perspective
• Differences by age
• Personal connectivity at work

 

 

Posted in Global Retailing, Online Retailing, Part 3: Targeting Customers and Gathering Information, Part 7: Communicating with the Customer, Social Media and Retailing, Video Clips (non-career) | Tagged , , , , , | 2 Comments

Observations from 234 Entrepreneurs!

Posted on July 6, 2017 by bermanevansretail

We can learn a lot from successful entrepreneurs in terms of how to start a business, how to scale a business, and how to stay inspired.

Recently, Tracey Wallace published (for Big Commerce) “234 American Business Owners on Starting, Scaling, and Staying Inspired:”

“This is about following your passion. This is about hope in the face of all odds. This is about hard work that builds a legacy of American business success. This is about building your own personal American Dream.”

 
Click the image to read more.


 

Posted in Career Useful Information, Careers in Retailing, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 4: Store Location Planning, Part 6: Merchandise Management and Pricing | Tagged , , , , , , | 1 Comment

AI Applications in Retailing

Posted on July 5, 2017 by bermanevansretail

As we have noted before, the use of artificial intelligence (AI) by retail companies and others has really taken off. The best is still yet to come — exemplified by the video clips below.

According to Bryan Wilson, reporting for Business 2 Community, many retailers have been adopting AI. Here a couple of his examples:

“Macy’s has invested heavily in online and omnichannel merchandising. This includes the Macy’s On Call app, which combines IBM Watson’s cognitive computing with location-based software to answer shoppers’ in-store questions, such as where a specific clothing brand is located. The program was tested in 10 stores through fall 2016.” [It was operational in 35 stores as of mid-2017.]

“1-800-Flowers.Com: The digital florist and gift firm tapped into Watson to create GWYN, a virtual gift concierge. GWYN ‘intuitively guides customers through their shopping experience to help them select the perfect gift,’ according to a press release. GWYN can interpret questions such as ‘I am looking for a gift for my wife’ and then ask related questions about the occasion and sentiment to make reliable suggestions.”

 
Here are several videos about the current and expected future of AI for retailers of all types and product categories.
 

 

 

 

 

 

Posted in Global Retailing, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Technology in Retailing, Video Clips (non-career) | Tagged , , , , , , | Leave a comment