February 13, 2023 • 14 mins
The Next Wave of Retail: Anticipating and Preparing for the Future of Shopping provides a glimpse into the retail world that may existin the near future, but this book is not just about the future but also aboutthe now and how you can stay relevant in a changed and transformed world. Thisis a book about options, an illustration of what is happening today and whatmay change in the future. It is about the consumer and their interactions withretail. I have spent the last 25 years of working with governments, global retail andfinancial institutions, and organizations building the digital foundation oftomorrow. However, the path to the future for me started in 2013, when I was inthe office of the late Tom Kaldec, Head of Technology at Tesco, the world's 2ndlargest retailer at the time, who later became a great friend and SVP ofTechnology at Target, an industry-leading retailer in the US. Tom said to me,"Ali, I want you to build the store of the future, but please do not focuson the technology but on our colleagues, customers, and values, create a visionthat is exciting but value-based and doesn’t come back to me asking for morebudget." At the time, I was working for Verizon, a US-based telecomcompany that only cared about the technology's functions and features and notthe outcomes. However, I was lucky enough to be part of a great team whosedata-driven vision of the future allowed me to tackle the biggest challenges inretail. Later in my career, I would meet Chris Luxford from the Aspire Group, adear friend and mentor who helped me understand that this was the only way toapproach transformation.Six monthslater, a group of Silicon Valley's hottest start-ups and I were QR-codechecking in our CEO and Tesco's then-legendary CIO, Mike McNamara (who went onto transform Target's approach and culture to technology) into a60,000-square-foot store just outside of London.What I didnot know then but know now, is that we had just built the world's firstfrictionless, touchless, cloud-based shopping experience. You could pick up amicro-located product scan and pay via a custom-built app. The digital identitysolution would form part of Verizon's federated digital identity ecosystem thatsupported the UK government's Verify solution. The BOPIS (Buy Online Pick UpInstore) solution's Click & Collect would evolve into Qudini, and a slew ofother technologies would become commonplace for retailers during the 2020 COVIDpandemic.TheCOVID-19 pandemic sped up transformation across all digital channels, highlightingsupply chain weaknesses worldwide. Unfortunately, the current inflationaryenvironment, as well as the upcoming currency, global interest rate, capital,and cost of living crises, will push most consumers to the verge of financialcollapse, along with the institutions that serve them. Capital and liquiditywill evaporate. Even beforethe pandemic, it was hard for many brick-and-mortar stores to stay open andkeep customers interested in their products and spaces. But will shopping andretailing return to normal as the financial crisis expands?Retailersmust reshape their organizations to generate value and leverage technology toenable tomorrow's "smart consumers." The currentperiod is one of exponential structural and financial change, in which eventsare occurring rapidly. As a result, businesses must be nimble enough to pivotphysically and digitally swiftly and successfully. Retailersand business leaders need to predict what customers want, what is likely to happen,and what is plausible. Then, put their retail businesses and brands to the testagainst all possible assumptions while driving innovation and delight intocustomer journeys and the path to purchase. Thecoronavirus shuttered many street stores and malls, and consumers flocked toonline shopping. H
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Hello and welcome back to the retail podcast.
(00:02):
In today's episode, I'm going toshare the first part of the book
with you, the introduction and and the first chapter which is
only take about 10 minutes. The other thing I wanted to
thank you. If you're listening in places
such as Vietnam Venezuela Uruguay, the United States,
obviously the United Kingdom, United Arab, Emirates Israel,
(00:24):
turkey Ukraine Thailand, Taiwan,Switzerland, Sweden, South Rika,
Singapore, rut Qatar, Portugal Poland, Philippines Panama
Pakistan, Norway, New Zealand, Netherlands, Moldova, you get
the picture. We have a global Community
(00:45):
listening to this podcast there.And I want to thank you.
I think. And I want to thank you for your
time, your energy, your feedback, and your comments, and
support throughout the growth ofthe podcast.
Without further Ado, let's get Get to the book the next wave of
retail anticipating and preparing for the future of
shopping introduction. This book provides a glimpse
(01:09):
into the retail World in 2034. This book is not just about the
future, it's about the now and how if you follow the foundation
set in this book, you will be able to position yourselves to
stay relevant in a changed and transformed world.
I've worked in the technology industry for over 25 years with
(01:31):
government's Global financial institutions retailers and
organizations that are building the foundation of tomorrow
today. However, for me, the path to the
Future started in 2013, when to client Partners tiny Orissa
huffed and Simon Kettle who wereleading Verizon's engagement
(01:52):
asked me to meet with the head of Technology at Tescos.
The UK's largest retailer and the globe's, second largest
retailer at the time and they both warned me.
Be careful. This guy doesn't suffer fools
lightly so I turned up to a fishbowl executive office.
Apprehensive and nervous in welland Garden City.
(02:13):
Just on the outskirts of London and the late Tom Cadillac who I
later in life. Had the great honor of calling a
friend had a vision for transformation at Tescos.
The UK's largest retail. He wanted a better data, LED
outcome driven environment not just for the sake of Technology
(02:34):
sake but a better platform across the business for
customers and guests. Tom said to me a lie, I want you
to build the store of the feature and for God's sake,
don't focus on just the Technologies features and
functions of focus on our values.
Six months later, and a Consortium of the hottest
(02:56):
startups from Silicon Valley andthe UK established technology
partners of Verizon. And I work, you are checking
Verizon's, then CEO and Tesco's.Legendary CIO Mike McNamara.
Who went on to transform Target in the US's entire approach and
strategy for technology. We check them into a 60,000
(03:21):
square foot store just on the outskirts of London and what I
didn't know then. But I now know is that I jest or
we had just built the first frictionless.
Touchless cloud-based shopping experience.
You could pick up a product scanand pay via a custom-built at
PayPal. Pay for your item and the
(03:41):
digital identity that was being used at the time, would then go
on to become the UK, government's Federated digital
identity. Part of the ecosystem, the
clicking collect solution, Opus,buy online, pick up in store
solution, would grow to become Qdini who are recently acquired
by very net, and a plethora of other Technologies use in 2013.
(04:05):
With now, become commonplace during the 2020 plan, demek
including social commerce later in my career.
I would meet Chris luxford from the Aspire group who also became
a dear friend and a mentor. All who helped me understand
that the only other way to approach transformation is by
focused on the changing businessmodels, and the outcomes that
(04:28):
are then being produced. The pandemic sped up
transformation across all digital channels, highlighting
supply chain weaknesses worldwide.
Unfortunately, the current inflationary environment as the
upcoming currency, Global interest rate capital and cost
of living crisis, will push moreconsumers to the verge of
(04:49):
financial collapse along with the institutions that serve them
capital and liquidity will evaporate.
Even before the pandemic, it washard for many brick, and mortar
stores to stay open, And customers interested in the
products and spaces, but will shopping and retailing return to
normal, as if financial crisis expanse, retailers must shape
(05:13):
their organizations to generate value, leverage technology to
enables tomorrow, smart consumers.
Create who you need to be. The current period is one of the
exponential structural and financial change in which events
are occurring, rapidly, as a result, businesses must be
(05:33):
nimble enough to Pivot physically and digitally swiftly
and successfully retailers, and Business Leaders need to predict
what customers want, what is it likely to happen and what is
plausible for them. Then put their retail businesses
and Brands to the test against all possible assumptions while
(05:55):
driving Innovation and Delight into the customer journey and
the path to purchase. Poor physical experiences on a
lack of relevance, shuttered, many High Street stores and
malls, as consumers, flock to better experiences and more
relevance online. Shopping customers will continue
to demand immersive shopping experiences provided by
(06:17):
augmented reality into the metaverse.
We go and sales channels must include virtual and physical
reality experiences and fulfillment which already
includes Strong will only continue to grow Brands, will
enable customers to move from offline to online and
personalized experiences that will be demanded by consumers.
(06:41):
The current cost of living and financial crisis continues to
push contactless customers to shop and expand, e-commerce
options, curbside, pickup, and touchless shopping.
The global crisis exaggerated, the Divide between non more
businesses, such as big box stores and more based retailers,
(07:03):
who will survive and move into the future.
What did customers really want the experience of searching for
different items or the convenience of a One-Stop shop?
The pandemic and economic crisisunderscored the differences
between the wealthiest Shoppers and those who always have to
watch what they're spending. It is now spread to the middle
(07:24):
class has and will continue to grow causing household budgets
to shrink irreversibly over the next decade.
It has also taught us how to payfor goods and services
differently. Cash is no longer King and
touchless and digital payments will continue to bun with the
introduction of Of new government back digital
(07:44):
currencies. How will our online purchases?
Be delivered, consumers, want, rapid and safe.
Deliveries, the use of drones autonomous delivery trucks or
retail stores simply delivering our packages to US will become
commonplace as Ultra. Local AI driven convenience The
Echoes of the future are alreadyhere of retailers can tap into
(08:08):
the communities. They serve and generate an
ongoing conversation that is two-way and He base, they may
discover that their customers needs have already drastically
change. Retailers must change grow and
use new strategies and business models along with Technologies
and algorithms. So what will the future of
(08:28):
retail? It'll be exciting.
It will be personalized, L, be adventurous and different yet.
Retail shopping will grow as entertainment.
The utility of retail will continue to diminish and be
automated, but it will be in theoperational structure.
Retail that will see the most change.
Chapter 1 retail in the future. no one could have really
(08:52):
predicted the pandemic and no one could have predicted the
pandemic would change retail shopping and the supply chain
trajectory when Russia invaded Ukraine.
Everyone thought that the inflation energy crisis would
only challenge businesses operating costs.
And not push us further into thefourth.
(09:12):
Turning the fourth turning is a concept and book by historians,
William Strauss and Neil how that States history repeats
itself in four distinct periods.Known as turnings.
They, approximately last 20 years each, a turning is a
different part of a civilizations life cycle.
(09:35):
And these parts are marked by big events and changes in
culture. In particular, the fourth
turning is a time of crisis. When the old order falls apart
and a new one is put in place. The fourth turning is important
for the retail industry because it is a time when there are big
(09:55):
changes and disruptions in the market, such as the continued,
peripheral ation of smart devices, and Smart Homes, as
well as the increasing Reliance on digital channels.
As a result consumers now have access to a vast array of
products and services. This has resulted in a
significant shift towards new experiences and demands as well
(10:18):
as a need for more immersive. Long term digital experiences
because of this traditional brick-and-mortar stores have had
a hard time making the transition to a digital age.
Many businesses haven't been able to keep up with the speed
of change and have had to close others.
Have been able to stay in business, by focusing on online
(10:38):
sales, and building a strong, digital presence, and brand,
which is not enough in the cost challenge environment of today,
retailers need to be proactive and flexible to deal with the
challenges of the Off turning and to grow well in the digital
age, this means embracing new ways to use existing
Technologies but more importantly better business
(11:01):
models and new business model which give retailers more ways
to reach and connect with custom.
It also means being flexible andable to react quickly to changes
in the market such as changes inour customers act or the arrival
of new competitors. The role of the customer
experience is critical Tickle. Now as it has ever been and as
(11:22):
it will be in the future for retailers to think about, during
the fourth, turning cost constraint consumers, have high
expectations for how good an easy.
Their experiences will be to meet these expectations
retailers need to focus on creating shopping experiences
that are easy personalized and fit.
(11:43):
The customers need and sizes both biologically and physically
as well. As their aspirations and
desires. These means investing in
Technologies, like, artificial intelligence machine learning to
give potentially personalized dna-based recommendations, or it
could mean offering convenient options, fulfillment, Beyond
(12:07):
home delivery. Finally, retail is in the
fourth. Turning need to be aware of how
important sustainability and social responsibilities are As
people become more aware of their purchases effect on the
environment and Society. They are looking at Brands to
share their values and beliefs sustainable and socially
(12:29):
responsible. Retailers are more likely to get
and keep loyal customers in the long run by being transparent
across their demand and Supply chains.
The following are lists of the next topic areas, the book moves
into immersive Touch free shopping experiences, e-commerce
(12:50):
acceleration. The split between department
stores and shopping centers or malls, destination centers and
Community hubs destination centers and Community hubs as
Innovation, centers value centers. residential space
(13:10):
fashion and what do consumers want in the changes in retail,
retail establishments, in airports retail environmental
design Reserve, shopping sites and sounds personalization
Blended experiences, dressing rooms as data, centers, physical
spaces, as escapes, and consumers, rule, Supply chains
(13:35):
seamless shopping price, Tationsmaintaining asset tracking.
Multi-platform marketing attribution which then leads
into chapter 2 Esports generation once again, I'd like
to thank you for staying with usfor giving me your time.
(13:57):
Hopefully the chapter was enlightening and I look forward
to your feedback comments five-star ratings likes shares
and everything else and I look forward to the next episode of
The Reel. Tell podcast with you.
Hello and welcome back to the retail podcast.
(00:02):
In today's episode, I'm going toshare the first part of the book
with you, the introduction and and the first chapter which is
only take about 10 minutes. The other thing I wanted to
thank you. If you're listening in places
such as Vietnam Venezuela Uruguay, the United States,
obviously the United Kingdom, United Arab, Emirates Israel,
(00:24):
turkey Ukraine Thailand, Taiwan,Switzerland, Sweden, South Rika,
Singapore, rut Qatar, Portugal Poland, Philippines Panama
Pakistan, Norway, New Zealand, Netherlands, Moldova, you get
the picture. We have a global Community
(00:45):
listening to this podcast there.And I want to thank you.
I think. And I want to thank you for your
time, your energy, your feedback, and your comments, and
support throughout the growth ofthe podcast.
Without further Ado, let's get Get to the book the next wave of
retail anticipating and preparing for the future of
shopping introduction. This book provides a glimpse
(01:09):
into the retail World in 2034. This book is not just about the
future, it's about the now and how if you follow the foundation
set in this book, you will be able to position yourselves to
stay relevant in a changed and transformed world.
I've worked in the technology industry for over 25 years with
(01:31):
government's Global financial institutions retailers and
organizations that are building the foundation of tomorrow
today. However, for me, the path to the
Future started in 2013, when to client Partners tiny Orissa
huffed and Simon Kettle who wereleading Verizon's engagement
(01:52):
asked me to meet with the head of Technology at Tescos.
The UK's largest retailer and the globe's, second largest
retailer at the time and they both warned me.
Be careful. This guy doesn't suffer fools
lightly so I turned up to a fishbowl executive office.
Apprehensive and nervous in welland Garden City.
(02:13):
Just on the outskirts of London and the late Tom Cadillac who I
later in life. Had the great honor of calling a
friend had a vision for transformation at Tescos.
The UK's largest retail. He wanted a better data, LED
outcome driven environment not just for the sake of Technology
(02:34):
sake but a better platform across the business for
customers and guests. Tom said to me a lie, I want you
to build the store of the feature and for God's sake,
don't focus on just the Technologies features and
functions of focus on our values.
Six months later, and a Consortium of the hottest
(02:56):
startups from Silicon Valley andthe UK established technology
partners of Verizon. And I work, you are checking
Verizon's, then CEO and Tesco's.Legendary CIO Mike McNamara.
Who went on to transform Target in the US's entire approach and
strategy for technology. We check them into a 60,000
(03:21):
square foot store just on the outskirts of London and what I
didn't know then. But I now know is that I jest or
we had just built the first frictionless.
Touchless cloud-based shopping experience.
You could pick up a product scanand pay via a custom-built at
PayPal. Pay for your item and the
(03:41):
digital identity that was being used at the time, would then go
on to become the UK, government's Federated digital
identity. Part of the ecosystem, the
clicking collect solution, Opus,buy online, pick up in store
solution, would grow to become Qdini who are recently acquired
by very net, and a plethora of other Technologies use in 2013.
(04:05):
With now, become commonplace during the 2020 plan, demek
including social commerce later in my career.
I would meet Chris luxford from the Aspire group who also became
a dear friend and a mentor. All who helped me understand
that the only other way to approach transformation is by
focused on the changing businessmodels, and the outcomes that
(04:28):
are then being produced. The pandemic sped up
transformation across all digital channels, highlighting
supply chain weaknesses worldwide.
Unfortunately, the current inflationary environment as the
upcoming currency, Global interest rate capital and cost
of living crisis, will push moreconsumers to the verge of
(04:49):
financial collapse along with the institutions that serve them
capital and liquidity will evaporate.
Even before the pandemic, it washard for many brick, and mortar
stores to stay open, And customers interested in the
products and spaces, but will shopping and retailing return to
normal, as if financial crisis expanse, retailers must shape
(05:13):
their organizations to generate value, leverage technology to
enables tomorrow, smart consumers.
Create who you need to be. The current period is one of the
exponential structural and financial change in which events
are occurring, rapidly, as a result, businesses must be
(05:33):
nimble enough to Pivot physically and digitally swiftly
and successfully retailers, and Business Leaders need to predict
what customers want, what is it likely to happen and what is
plausible for them. Then put their retail businesses
and Brands to the test against all possible assumptions while
(05:55):
driving Innovation and Delight into the customer journey and
the path to purchase. Poor physical experiences on a
lack of relevance, shuttered, many High Street stores and
malls, as consumers, flock to better experiences and more
relevance online. Shopping customers will continue
to demand immersive shopping experiences provided by
(06:17):
augmented reality into the metaverse.
We go and sales channels must include virtual and physical
reality experiences and fulfillment which already
includes Strong will only continue to grow Brands, will
enable customers to move from offline to online and
personalized experiences that will be demanded by consumers.
(06:41):
The current cost of living and financial crisis continues to
push contactless customers to shop and expand, e-commerce
options, curbside, pickup, and touchless shopping.
The global crisis exaggerated, the Divide between non more
businesses, such as big box stores and more based retailers,
(07:03):
who will survive and move into the future.
What did customers really want the experience of searching for
different items or the convenience of a One-Stop shop?
The pandemic and economic crisisunderscored the differences
between the wealthiest Shoppers and those who always have to
watch what they're spending. It is now spread to the middle
(07:24):
class has and will continue to grow causing household budgets
to shrink irreversibly over the next decade.
It has also taught us how to payfor goods and services
differently. Cash is no longer King and
touchless and digital payments will continue to bun with the
introduction of Of new government back digital
(07:44):
currencies. How will our online purchases?
Be delivered, consumers, want, rapid and safe.
Deliveries, the use of drones autonomous delivery trucks or
retail stores simply delivering our packages to US will become
commonplace as Ultra. Local AI driven convenience The
Echoes of the future are alreadyhere of retailers can tap into
(08:08):
the communities. They serve and generate an
ongoing conversation that is two-way and He base, they may
discover that their customers needs have already drastically
change. Retailers must change grow and
use new strategies and business models along with Technologies
and algorithms. So what will the future of
(08:28):
retail? It'll be exciting.
It will be personalized, L, be adventurous and different yet.
Retail shopping will grow as entertainment.
The utility of retail will continue to diminish and be
automated, but it will be in theoperational structure.
Retail that will see the most change.
Chapter 1 retail in the future. no one could have really
(08:52):
predicted the pandemic and no one could have predicted the
pandemic would change retail shopping and the supply chain
trajectory when Russia invaded Ukraine.
Everyone thought that the inflation energy crisis would
only challenge businesses operating costs.
And not push us further into thefourth.
(09:12):
Turning the fourth turning is a concept and book by historians,
William Strauss and Neil how that States history repeats
itself in four distinct periods.Known as turnings.
They, approximately last 20 years each, a turning is a
different part of a civilizations life cycle.
(09:35):
And these parts are marked by big events and changes in
culture. In particular, the fourth
turning is a time of crisis. When the old order falls apart
and a new one is put in place. The fourth turning is important
for the retail industry because it is a time when there are big
(09:55):
changes and disruptions in the market, such as the continued,
peripheral ation of smart devices, and Smart Homes, as
well as the increasing Reliance on digital channels.
As a result consumers now have access to a vast array of
products and services. This has resulted in a
significant shift towards new experiences and demands as well
(10:18):
as a need for more immersive. Long term digital experiences
because of this traditional brick-and-mortar stores have had
a hard time making the transition to a digital age.
Many businesses haven't been able to keep up with the speed
of change and have had to close others.
Have been able to stay in business, by focusing on online
(10:38):
sales, and building a strong, digital presence, and brand,
which is not enough in the cost challenge environment of today,
retailers need to be proactive and flexible to deal with the
challenges of the Off turning and to grow well in the digital
age, this means embracing new ways to use existing
Technologies but more importantly better business
(11:01):
models and new business model which give retailers more ways
to reach and connect with custom.
It also means being flexible andable to react quickly to changes
in the market such as changes inour customers act or the arrival
of new competitors. The role of the customer
experience is critical Tickle. Now as it has ever been and as
(11:22):
it will be in the future for retailers to think about, during
the fourth, turning cost constraint consumers, have high
expectations for how good an easy.
Their experiences will be to meet these expectations
retailers need to focus on creating shopping experiences
that are easy personalized and fit.
(11:43):
The customers need and sizes both biologically and physically
as well. As their aspirations and
desires. These means investing in
Technologies, like, artificial intelligence machine learning to
give potentially personalized dna-based recommendations, or it
could mean offering convenient options, fulfillment, Beyond
(12:07):
home delivery. Finally, retail is in the
fourth. Turning need to be aware of how
important sustainability and social responsibilities are As
people become more aware of their purchases effect on the
environment and Society. They are looking at Brands to
share their values and beliefs sustainable and socially
(12:29):
responsible. Retailers are more likely to get
and keep loyal customers in the long run by being transparent
across their demand and Supply chains.
The following are lists of the next topic areas, the book moves
into immersive Touch free shopping experiences, e-commerce
(12:50):
acceleration. The split between department
stores and shopping centers or malls, destination centers and
Community hubs destination centers and Community hubs as
Innovation, centers value centers. residential space
(13:10):
fashion and what do consumers want in the changes in retail,
retail establishments, in airports retail environmental
design Reserve, shopping sites and sounds personalization
Blended experiences, dressing rooms as data, centers, physical
spaces, as escapes, and consumers, rule, Supply chains
(13:35):
seamless shopping price, Tationsmaintaining asset tracking.
Multi-platform marketing attribution which then leads
into chapter 2 Esports generation once again, I'd like
to thank you for staying with usfor giving me your time.
(13:57):
Hopefully the chapter was enlightening and I look forward
to your feedback comments five-star ratings likes shares
and everything else and I look forward to the next episode of
The Reel. Tell podcast with you.
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