RBTE Innovation Theatre Day 1: The Customer Is King
There was little standing room left as Nick Wheeler, founder and owner of Charles Tyrwhitt opened The Retail Innovation Theatre at RBTE 2014 yesterday.
Sharing his perspectives on retail innovation and the reasons behind the success of his business, the packed theatre heard the secrets behind the growth of Charles Tyrwhitt from humble beginnings as a mail-order shirt business in 1986 to a multichannel retailer with over 22 bricks and mortar stores worldwide and growing fast.
A strict focus on the customer and the use of innovation such as Feefo’s rating and review technology to enable a greater customer experience was the overriding piece of advice from the UK businessman.
Reinventing Physical Retail
The first session of the day was hosted by Kash Ghedia, Technologies Manager at Dixons Retail and addressed the reinvention of physical retail.
Highlighting recent research by Eccomplished, BoscaBox kicked off the innovator presentations discussing how retailers, with the right platform, can make better use of in-store digital media to enrich the in-store experience.
MarketHub followed, outlining how pricing intelligence at the shelf edge offers a way for retailers to reduce the need to discount, sell more, whilst driving up profitability.
The poor adoption and provision of in-store WiFi by modern retail was highlighted by Wittos as a big opportunity for retailers to meet the in-store requirements of today’s omnichannel, mobile-engaged customer.
HiperKinetic showed us how retailers can bring big data intelligence into physical world, understanding the customer path to purchase. PMC discussed uniting bricks and clicks by bringing the online experience in-store.
Customer Centric Commerce
Ometria kicked off the second Innovation Theatre session with an entertaining and interactive demonstration of how they can help retailers gain greater online customer insight for better ecommerce decisions, ensuring they sell the right products and driving online profitability.
The value of guided selling in driving conversion and customer loyalty, both online and in-store was addressed by SMARTASSISTANT, whilst Feefo discussed the power of consumer reviews for maximising customer lifetime value.
Atosho discussed how their distributed ecommerce platform can help consumers shop at the point at which demand is created and FrockAdvisor talked about how independent fashion retailers can help their customers find fashion in an omnichannel world.
Customer Experience Transformed
Brian Towshend, a retail consultant currently working with Marks & Spencer hosted our third and final session on the transformation of customer experience in front of another packed house.
Mobile experts Donky kicked off with a demonstration of how in-app messaging can transform customer experience, drive acquisition, retention and satisfaction. Then, image recognition innovator Style-Eyes showed how to help consumers find products they like from hundreds of retailers simply by taking a picture via their mobile phone.
Qudini addressed the challenge of customer service in-store and how creating an efficient in-store customer experience can have a significant impact on customer loyalty and ultimately, sales.
TalkDesk shared their eight lessons learned from one million support calls and how every customer who calls in to a retailer must be treated like a VIP.
Finally, ITAB talked about the reinvention of the checkout and how with the right technology, retailers can redeploy shop floor staff to more customer experience defining tasks.
Day 2: Thinking Outside The Box
Day two of the Retail Innovation Theatre at RBTE 2014 started much in the same vein as day one. Packed sessions, innovative technologies and fresh insights into some of retail’s most pressing priorities and challenges.
If day one was all about the customer, then day two was about thinking outside the box. In particular:
- The technologies shaping the future of retail
- The need to start addressing ‘the last mile’
- The opportunity outside domestic markets
Tomorrow’s Retail World
The first session of the day was hosted by Eccomplished CEO Stephen Millard and showcased five innovators bringing to market technology that whilst may seem aspirational today, is fast becoming commonplace.
Sparkle cs was up first, with their ‘app store for the EPOS’ – taking away the headache, expense, implementation time and risk associated with making changes to the EPOS and making it as easy to update, experiment and adapt as your ecommerce site.
IS2you followed with the Wi-go – a next generation shopping trolley that intelligently follows the customer around the store. The Wi-go transforms the in-store experience, especially for customers with restricted mobility such as wheelchair users and the elderly, or simply for those with their hands full such as parents with young children.
Augmented reality was on display from the team at Sayduck, who amazed the audience with their demonstration of how retailers can enjoy 27% uplift in basket value by providing customers with the ability to bring products to life via their mobiles and tablets from the comfort of their own home.
Vee24 demonstrated that whilst physical retailers are trying to bring digital in-store, their video-based customer service technology brings the face-to-face in-store customer experience to the online world, increasing average order values by up to 35%.
The session concluded with distributed ecommerce provider Kiosked, who introduced the concept of ‘everywhere commerce’ and how they extend retail across the online world.
Delivering The Promise
Claire Muir, Head of Development for Amethyst Group hosted the second session of the day highlighting that with so much emphasis on the front end of the customer experience, what about the ‘last mile’ – arguably the most important part of the customer journey – the point at which a customer receives and is happy with their product?
Storpal kicked off with their platform for simplifying the retail supply chain for greater customer experience, choice and fulfilment options.
Cloud-based delivery management platform provider Scurri then took to the stage and talked about how retailers can simplify the delivery process and take more control of the customer delivery experience.
Clear Returns concluded the session by outlining that it’s not what a customer buys that is important, but what they keep and how their predictive analytics technology helps ecommerce retailers grow keeps and grow profits.
Unlocking International Markets
The final session of this year’s Retail Innovation Theatre was introduced by M&M Direct CIO, Graham Benson and addressed the challenges of growing overseas business, both from an online and physical retail perspective.
EpiServer were first up, demonstrating how their platform can help overcome the various challenges faced by growing retail business overseas from content localisation to legal, financial and logistical considerations.
Intelligent Reach outlined the various online channels that retailers can use to extend their reach into international markets and how with their platform, you can launch, monitor and analyse cross border campaigns across multiple channels.
The challenges of international payments were addressed by Pensio who talked about the complexity in understanding and being able to transact across different territories.
The last innovator of the series was Concrete, who discussed their solution for helping retailers get visibility and control over a large network of international physical stores and how to work effectively with the in-region people that run them, driving sales and brand compliance.
This year’s Retail Innovation Theatre at RBTE 2014 was a big success and Eccomplished would like to thank everyone who made it possible – Nick Wheeler, of Charles Tyrwhitt, all of our session hosts, the teams at RBTE and Essential Retail, Simon our technician and most importantly the 27 innovators, without whom, there would have been no innovation!
See you at the London Olympia next year!
Motivate Your Management Team
A management team, typically a group of people at the top level of management in an organization, is a team of people in the top level of managerial leadership of a business or an organization. It may consist of one person at the top level or more than one person at the top level. In this article, we are going to talk about what it takes to become a successful manager of a company and the different types of managers that can be found.
Team members will usually work in teams of two or three people. They will work together to accomplish a specific goal that the organization has set for them. These goals and the ways to reach them vary. Sometimes a management team will work in teams to achieve the same goal but in different ways. Sometimes they will work in teams to solve a particular problem.
When a team begins working, they will usually meet for the first time at their office building or another place where they will gather. They will be given a specific mission statement that they will be working towards. There will usually be meetings on a regular basis so that the team can discuss what they have done so far. If there is anything that needs to be worked out, this meeting will occur to ensure that all questions have been answered.
When it comes to meeting deadlines, there are often things that the team members will need to do in order to meet their deadline. They will have to come up with the proper solutions. Once they have done this, the next thing that needs to be done is to ensure that the other members of the team are aware of what the solution is.
Sometimes, the team members will meet at different times. This is very common for people who will have different duties and who are not always available at the same time. They can meet at random times but it is very rare for there to be meetings that occur during the night. Sometimes these meetings are held after lunch and sometimes they happen after dinner.
When the team members meet, they will need to be organized. They will need to take all of the necessary items and papers to the meeting and not leave any behind. The meeting will begin with a presentation that will be made by the team leaders that will describe what they have done so far.
After this presentation, the team members will then have to sit down with the other team members to discuss what they have discussed. This is often a very productive way to get everyone talking about what they have accomplished so far.
To be a good manager, you must be able to organize yourself and your team. This is also necessary in order for you to be able to motivate your team.
One of the ways that you can motivate your team members is by encouraging them to get things done that they want to do. By doing this, they will be able to get excited about what they are working on. The excitement that they will feel will motivate them to work even harder and to complete the task as soon as possible.
Another way that you can motivate your team members is to give them rewards. In this case, they will know that there is something for doing a great job. They will know that if they have good performance, there will be a reward for their hard work.
It is also important for you to provide support to your team members. by helping them find jobs and making sure that they are able to find employment. This will encourage them to be self-motivated and to perform better on their jobs.
When you provide support to your team members, they will feel valued and respected. This will allow them to feel as though they have an employer who is willing to put in a lot of effort in order to help them get what they want out of their jobs.
The Income Approach Vs Real Estate Valuation
The Income approach is only one of three main classifications of methodologies, commonly referred to as valuation approaches. It’s particularly popular in commercial real estate valuation and other business valuation. The key difference between the three methods is that the Income Approach relies on the idea of income as a measurement rather than an absolute number.
As with all three different types of valuation methods, the underlying assumption is that price is determined by cash flows. This means that in order to determine the value of a particular asset or business, there must be an exact amount of money spent. When an individual or firm makes a purchase, they will pay money for the product and they will make payments for the privilege of continuing to use that product over time. These payments are called “cash flows.”
Real estate appraisals are based on this simple concept. There are many realtors who work at the level of measuring the net worth of a home or building by considering the current mortgage and interest owed on that loan. The appraiser uses these numbers as the basis of his or her opinion about the fair market value of the property.
On the other hand, when the method you choose is the income approach, the appraiser focuses instead on the income earned by a person or entity. This can be based on both sales volume and earnings of each employee. A company may use the income approach to calculate the value of its inventory and accounts receivable based on the income earned by the company or group of employees.
The basic concept behind the approach is that cash flows should be considered as the basis for making decisions about what kind of business or service is right for a person or group. These cash flows include the income earned by employees, purchases made by the company, and the sales volume of goods or services produced by the company. The income model is often used to value homes, businesses, real estate, and other valuable assets. in order to determine their fair market value.
The primary difference between the realtors’ method of valuing the home and that of the income approach is that the former considers only one way that the value is going to change in value over time. While realtors look at the home’s market value to determine if they can sell it and the approach works out the value of the home by using the current sales price plus the future sales price plus some percentage of the gross value of the home, the income approach values the property only by the amount of money paid out over time. on monthly or annual payments. The difference in the two approaches is that the realtors use the gross value of the home as their basis and the approach uses the net cash payments.
Because of this difference in the valuing models, some people prefer the income approach over the realtors’ approach. Because realtors’ models involve an element of forecasting, they aren’t as helpful in determining the fair market value of a property, and they are not very useful in making long-term financial plans. On the other hand, the income approach can be very helpful in helping you decide if your home or business is worth buying.
While tax benefit of the income approach can also play a part in determining its value, it will not be nearly as large as the tax benefit of the realtors’ approach. In addition to providing tax benefits, the approach allows the person or organization to buy a home or business that is under-priced because it may increase their tax benefit. in the long run. Because this is not the primary reason that most realtors use the approach to value properties, it is not as well known as the realtors’ method, but it can be very useful for some people who don’t want to invest a large amount of time in planning their future, so they may want to consider it.
How To Create A Leadership Philosophy
A leadership philosophy describes an individual’s values, beliefs and principles that they use to guide a business or organization. Your leadership philosophy can be based on your personal traits and beliefs or it can be based on what you believe is best for the organization you work with. In order to improve your management style and leadership style, you need to understand your leadership philosophies. It can either help or hinder you.
Your personal philosophy, or personality, is largely influenced by your personal beliefs and character. It helps guide you and keeps you on track. If your personal philosophy supports the goals and mission of the organization, it will motivate you to pursue those goals. If it doesn’t, it can hinder you from achieving your goal. Your personal philosophy can be as varied as your own personality and beliefs.
A good leadership philosophy can be created through the development of personal values, goals and dreams. Through this process you will discover that some personal values are important and others aren’t. You can make the difference and decide which ones are more important than others. Once you have a firm foundation established, you can move on to finding a way to achieve your objectives.
Personal philosophies need to be examined in terms of their relevance to the organization’s mission. Your leadership philosophy needs to be based on whether the organization or the leader wants to help people or just help themselves. If it is the former, then your personal philosophy should focus on providing the resources needed to make it happen. If it is the latter, then your personal philosophy should focus on helping those who need it most.
Another part of your personal philosophy should look at the individual needs of the organization. If the organization is looking to help the underprivileged, your leadership philosophy should be focused on assisting them in getting a better education so they can get a better job and earn more money. This is a prime example of a personal philosophy that would not benefit the organization in any manner.
Leadership is a process, not a person. Leaders need to be willing to change and adapt in order to get the job done right. Leaders should always try to learn from the past mistakes and try to improve on the mistakes that they made. have made and this is not possible if a leadership philosophy doesn’t allow them to grow and change as individuals in the organization.
Your personal philosophy should be aligned with the values of the organization in which you are working with. You need to create a vision that your organization has. Your vision can be anything from the improvement of the organization to the success of the employees. Your vision can be a company motto, mission statement or a corporate image.
Leadership isn’t about being the leader of all or nothing. It is about bringing in the right people to make the organization the best it can be and growing it over time. There are a lot of people who are qualified to lead an organization but don’t get the opportunity because they don’t have the right leadership philosophy. The more qualified individuals you can hire, the higher your chances of success and the better results you will see.
The best leaders aren’t the ones who walk into the building and are the leader but are the one who goes out of their way to show the organization how they feel. They do something that no one else in the room is doing. They give their time and effort in order to make their organizational goals come true. They work hard and are willing to do the work, but not do it for others, they do it for themselves and they don’t let anyone else take advantage of them.
Creating a leadership philosophy can be a good idea to help you in building your leadership team. When you create a good leadership philosophy, it creates a level of respect and integrity within the organization.
Developing a personal philosophy can be very beneficial to an organization. It can be the thing that gives your organization a sense of self worth.
Motivate Your Management Team
A management team, typically a group of people at the top level of management in an organization, is a team...
The Income Approach Vs Real Estate Valuation
The Income approach is only one of three main classifications of methodologies, commonly referred to as valuation approaches. It’s particularly...
How To Create A Leadership Philosophy
A leadership philosophy describes an individual’s values, beliefs and principles that they use to guide a business or organization. Your...
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