H2O.ai CEO/Founder: Sri Ambati Keynote at Wells Fargo Day
Connected Futures Podcast: Paving the Way for the Future of Retail, Part 1
1. Paving the Way for the Future of Retail
Part 1
#ConnectedFutures
2. “We surveyed 117 retailers in 12 different countries
around the world. We also surveyed executives in
other industries and we found that retail ranked
number three out of those 12 industries in terms of
its ripeness for digital disruption and I think there
are numbers of factors in the investment in new
disruptive technologies that are really changing the
game for everyone.”
#ConnectedFutures
- Shaun Kirby, Chief Technology Officer of
Cisco Consulting Services
3. “The reality is that more than 50% of all your
sales across the retail categories are already
being influenced by digital in these changes
in consumer behavior that are fundamentally
changing how people shop.’”
#ConnectedFutures
- Jason Goldberg, Sr. Vice President of
Commerce & Content at Razorfish
4. “I do think we’re only seeing that tip of the iceberg.
However, it does feel like the effects of digital
disruption are more over in retail than some other
business segments. So, the stats are always
shocking to me that there’s that higher percentage
of executives that don’t feel like digital disruption is
in their critical path… but in retail in particular.”
#ConnectedFutures
- Jason Goldberg, Sr. Vice President of
Commerce & Content at Razorfish
5. “You just look at the landscape and you say…
‘the largest retailer in the world is Alibaba…
Alibaba passed Walmart in gross revenue
dollars for the last quarter.’”
#ConnectedFutures
- Jason Goldberg, Sr. Vice President of
Commerce & Content at Razorfish
6. “Amazon is the fastest growing company in the
history of the United States. They are a pure digital
retailer. Every other retailer, all of the primary brick
and mortar retailers, they're generally thrilled to get
2% or 3% growth out of their traditional channels,
and the average growth is 16% in the digital channel.
We’re seeing that the high performers
are growing it 30%...”
#ConnectedFutures
- Jason Goldberg, Sr. Vice President of
Commerce & Content at Razorfish
7. “What’s really exciting is, still, we believe a lot of
value is being left on the table. If we took, for
example, a prototypical 20 billion dollar revenue
retailer, let’s say with 900 stores, we did some
modeling and with an estimated revenue of just
under a billion annually, they're most likely only
getting about 15% of that digital value stake. So they
could improve their margins by over 800 million or
improve their earnings before interest
in tax by almost 60%.”
#ConnectedFutures
- Shaun Kirby, Chief Technology Officer of
Cisco Consulting Services
8. “And it’s particularly ironic in light of every other
trend, it’s really challenging those operating margins
and constantly taking out the system at every turn.
So, your retail is difficult business. It’s a nice fight
and you need to capture every ounce of margin that
you possibly can.”
#ConnectedFutures
- Jason Goldberg, Sr. Vice President of
Commerce & Content at Razorfish