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Retail

Mohammad Anas Wahaj | 29 feb 2020

Australia's retail industry is in turmoil with some of the big ones entering into voluntary administration. Tom Youl of Ibis World says, 'Weakness in the Australian economy, in particular, deteriorating conditions for households, has been placing pressure on the retail sector...Weak wage growth has been a contributing factor to decreasing discretionary incomes, but rising household costs have also played a part. The bad news for store-based retailers is online players are going to continue to grab a larger share of the pie.' Eloise Zoppos of Monash Business School says, 'Customers are seizing control of the retail landscape and those retailers not up to the changes proposed by their loyal shoppers will be left behind. Friendly and knowledgeable staff, and eye-catching and easy-to-navigate store designs, can help create memorable experiences that customers can share with their friends and family after their purchase.' Even though online shopping is on the rise but Monash's 2019 consumer survey reveals that more than 70% respondents prefer to shop in bricks-and-mortar stores. A positive story coming out of the retail churn is that of an electronics store JB HI-FI. Retail expert Amanda Stevens explains, 'If you've been into JB Hi-Fi lately, it's a fast-moving big box retailer, but they really have knowledgeable staff, which is always a sigh of relief for consumers versus other retailers you go into, and you could spend up to 15 minutes finding someone to give your money to.' Regarding the future of Australian retail Mr. Youl suggest, 'Many retailers have been thriving in recent years. A sound brand strategy and market position are always vital to success, but these factors become of paramount importance over periods of weak growth, as we have been experiencing.' Read on...

Yahoo Finance: Why Australia's retail industry is drowning
Author: Anastasia Santoreneos


Mohammad Anas Wahaj | 18 aug 2019

Startups are enabling tech-based transformation of India's retail sector through Android-based smart PoS (Point of Sale) devices. The promise of these devices goes beyond payments and makes supply chain more efficient with data analytics and potential credit scoring. Vicky Bindra, CEO of Pine Labs, says, 'Retailers and merchants from diverse sectors such as electronics, food and beverage, fashion, pharmacy, telecom, and airlines are adopting the new smart PoS machines to improve their efficiencies and enhance consumer's shopping experience.' Praveen Hari of industry association iSPIRT says, 'Today a smart PoS device is not just accepting cards, but they can also provide UPI (unified payments interface) pull transactions, QR codes (displayed on screens), NFC (near-field communication) transactions, wallet transactions, or basically, any payment mode that is available in India.' Ashish Jhina, co-founder of Jumbotail, says, 'Today smart PoS machines can do four key business functions: payment, billing, inventory management, wholesale procurement.' Smart PoS data is also valuable for credit scoring. Mr. Hari explains, 'The GST data itself is good enough for a lender to make a lending decision and the shopkeeper or his FMCG distributor now has an incentive to report all the transactions. The transaction data itself can help a lender make a lending decision.' Manish Patel, CEO of Mswipe, says, 'We have engineered a credit model where when our merchants can borrow money (to make wholesale purchases) from any of our NBFC partners, based on data we provide...In terms of recollection, the merchant can opt to pay back in daily and monthly instalments.' Read on...

Livemint: Wireless, smart PoS devices revamping India's retail landscape
Author: Salman S. H.


Mohammad Anas Wahaj | 11 feb 2019

According to the research by Prof. Elizabeth A. Minton from University of Wyoming, Prof. Kathryn A. Johnson from Arizona State University and Prof. Richie L. Liu from Oklahoma State University, 'Religiosity and special food consumption: The explanatory effects of moral priorities', published in Journal of Business Research, people with strong religious beliefs are more likely to buy fat-free, sugar-free or gluten-free foods than natural or organic foods. The research could influence the marketing of those specialty food products. Prof. Minton says, 'Religion is the deepest set of core values people can have, and we wanted to explore how those values impacted the market choices people make. We found religiosity influenced the selection of more diet-minded foods...' The study was carried out online and included responses from over 1700 people across the U.S. Prof. Johnson says, 'Often, people make intuitive decisions about food that could require more careful thought. People might make choices based on a cultural narrative or their religious and moral beliefs, without giving measured thought to whether there is a better option.' According to the research, the moral foundation of care drives the choice of sustainability-minded food products, and the moral foundation of purity is behind the choice of diet-minded foods. Prof. Liu says, 'The findings from our work can directly help businesses promote food products to specific groups of people without potentially alienating customers by including religion.' Read on...

University of Wyoming News: UW Researcher: Religion Affects Consumer Choices on Specialty Foods
Author: Chad Baldwin


Mohammad Anas Wahaj | 14 jan 2019

Autonomous shopping concept intends to bring brick-and-mortar and internet shopping into a unified and integrated retail experience. The grab-and-go smart shopping carts promote cashier-free automatic check-out eliminating wait in lines. TechSpot's contributing writer, Cohen Coberly, says, 'While it seemed like brick-and-mortar retail would be all but killed off following the explosive rise of online shopping, what we're instead seeing throughout the US is not death, but evolution.' According to a 2018 survey by RIS News, 'The leading new shopping option wanted by consumers was "grab-and-go" technology (in which customers can self-checkout using their smartphones). 59% said they'd like to use this, and 9% had used it.' In a global survey of 2250 internet users conducted by iVend Retail and AYTM Market Research, 'Roughly 1/3rd of respondents said they would like to make automatic payments using digital shopping carts.' Caper is a smart shopping cart startup. Josh Constine, technology journalist and editor-at-large for TechCrunch, reports, 'The startup makes a shopping cart with a built-in barcode scanner and credit card swiper, but it's finalizing the technology to automatically scan items you drop in thanks to three image recognition cameras and a weight sensor. The company claims people already buy 18% more per visit after stores are equipped with its carts.' Linden Gao, co-founder and CEO of Caper, says, 'It doesn't make sense that you can order a cab with your phone or go book a hotel with your phone, but you can't use your phone to make a payment and leave the store. You still have to stand in line.' The current Caper cart involves scanning an item's barcode and then throwing it into the cart. Brittany Roston</