PWC Global #retail survey feb 2016 They say they want a revolution

This year, over 23,000 online shoppers in 25 different territories participated in our 2016 Total Retail Survey, which asks consumers about the world about issues ranging from mobile shopping to social media influence to innovation at retailers.

It unveils eight insights of the next retail revolution: To understand future global shopping behavior, look to China – Not only does our Total Retail survey data illustrate a continuing willingness on the part of Chinese consumers to become early adopters of cutting-edge shopping habits such as mobile buying but, in conjunction with our studies from previous years, it suggests that Chinese shopping behavior is a leading indicator for global shopping behaviors.

We may live in the age of value-but price is still king –

We found that affordability is, indeed, a major driver for shopping behavior around the world, across income bands and across national borders.

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Econsultancy: Are brands failing to properly promote their new chatbots?

My overall opinion was that it offers a fairly standard booking system via Facebook Messenger – nothing fancy, but practical enough.

One issue I failed to mention is that the brand doesn’t appear to be doing much to promote it. Which is odd, as how are people meant to use it if they don’t know it exists in the first place?

Here’s a bit more info on this issue and how brands can combat it.

Discovering chatbots

In order to access the Pizza Express chatbot, I typed @PizzaExpress in the recipient search bar in Facebook Messenger. Easy enough, as it immediately appeared in the drop-down menu.However, I was already aware that the bot existed, and it’s likely that most existing users don’t.

So, where else is it promoted?

Looking at the brand’s main Facebook page, I discovered that it can also be accessed via the ‘book now’ or ‘message’ buttons, which take you straight to Messenger.

Fair enough.

Although, it does seem like this would be very easy to miss, even for existing fans of the Facebook page. Most people find and access content directly from their news feed, so how likely is it that anyone will see this?

Upon further inspection, I spotted that the brand has actively promoted the feature in a recent post, highlighting it in conjunction with a current Valentine’s Day special offer and urging users to book it via the chatbot.

But, while fans might see it, what about people who occasionally (or even regularly) eat in a Pizza Express restaurant, but haven’t liked the brand’s Facebook page?

Personally, I’ve enjoyed the odd Padana Romana in my time. I’d even go as far as saying Pizza Express is my emergency high street restaurant chain of choice, but I’d honestly never think to hit that ‘like’ button. In that case, I’d miss the chatbot entirely.

And Pizza Express might miss out on my data and the subsequent opportunity for retargeting.

It’s also worth mentioning that anyone without Facebook Messenger installed on their smartphone will be left frustrated if they happen to click ‘book now’ on the Facebook page.

Read all: Are brands failing to properly promote their new chatbots? | Econsultancy

2017 CIO Agenda: A Retail Perspective – Robert Hetu

Every year, Gartner surveys CIOs and IT executives drawn from the membership of its executive program and other sources to identify key priorities, opportunities and issues.

The 2017 Gartner CIO Survey includes responses from 2,598 overall participants.

This research examines the specifics of the retail segment of the 2017 CIO survey results from 133 retail participants from 33 countries accounting for $513 billion in revenue and $11 billion in IT spending.

My latest research outlines the priorities for retail CIOs as they address digital transformation.

One important finding is just how retailers’ high expectations for digital initiatives depend on addressing lack of Skills, funding and leadership.

This chart shows the breakdown of success barriers seen by retail CIOs:

Skills and funding are the top 2 barriers for success in retail and mirror the greater survey population. Lack of leadership is the third highest barrier for retail CIOs at 10%, indicating that this is seen as a larger issue in retail.

Gartner’s interactions with retailers confirm that leadership can be a significant impediment. This may be driven by the complexity of the retail organization structure, as well as turnover in key positions such as the chief marketing officer (CMO) or chief merchant. The impact of digital on traditional retail business models is so pervasive that success is improbable without strong, long-term leadership.

Source: 2017 CIO Agenda: A Retail Perspective – Robert Hetu

Roland Berger’s New realities in central banking: The rise of cryptocurrency

Minting a central bank digital currency: Roland Berger envisions the emerging digital future.

2017 is heralded as the dawn of digital currencies in the financial services industry. Amid all the hype, it is important to sift through and identify the key messages relevant in the world of finance.

In our previous THINK ACT edition, New realities in central banking: The organizational challenge , we examined the structural changes and transformation necessary for central banks to become high performance organizations.

Technology is just a means to an end: Banks need to follow five crucial steps.

In this edition, we reveal the impact of digital currencies on central banks, explain the underlying technologies, and make recommendations for central banks in the digital age.

In order for central banks to maintain relevancy into the future, they are tasked with evaluating the development of a central bank digital currency.

Central banks need to follow a clear five step roadmap – from the first vision to the national rollout.

Having currency represented in a digital manner is nothing new. In fact, this has been the case since the digitization of communications.

At present, in developed markets nearly all money is held and exchanged by digital means in the form of information and only a small percentage of all money in circulation exists in physical form.

While a central bank digital currency will not completely replace physical notes and coins any time soon, adoption rates are difficult to predict. There can be no doubt that these digital technologies are here to stay.

Read all in this paper

Source: New realities in central banking: The rise of cryptocurrency — Roland Berger