Retail companies have quite some challenges with the way the world is (rapidly) changing due to digitization. That’s why Belgian retailer Torfs & Duval Union Consulting have worked together to set up a strategy to master the digital transformation of Torfs.
In the following case study, we discuss the current market situation and disruptive trends in retail based on our seven Drivers of Transformation.
It’s fundamental to understand what is going on at the moment in the retail industry, where it is going and identify critical threats when constructing a digital strategy towards the future.
Need help with your transformation?
Do contact us: through a series of workshops, we help you to understand digital disruption and offer you a model to shape your own future.
The document discusses the importance of consumer insights in developing effective creative briefs and advertising strategies. It provides tips for writing good briefs such as focusing on consumers rather than products and making discoveries about how consumers think and feel. An effective creative brief should answer eight questions in one page, including who the target audience is and what the advertising wants them to think or do. Consumer insights are described as deeply felt human truths that create bonds between brands and consumers. Several examples of insights that different brands have used are also provided.
10 Insightful Quotes On Designing A Better Customer ExperienceYuan Wang
In an ever-changing landscape of one digital disruption after another, companies and organisations are looking for new ways to understand their target markets and engage them better. Increasingly they invest in user experience (UX) and customer experience design (CX) capabilities by working with a specialist UX agency or developing their own UX lab. Some UX practitioners are touting leaner and faster ways of developing customer-centric products and services, via methodologies such as guerilla research, rapid prototyping and Agile UX. Others seek innovation and fulfilment by spending more time in research, being more inclusive, and designing for social goods.
Experience is more than just an interface. It is a relationship, as well as a series of touch points between your brand and your customer. Here are our top 10 highlights and takeaways from the recent UX Australia conference to help you transform your customer experience design.
For full article, continue reading at https://yump.com.au/10-ways-supercharge-customer-experience-design/
This document provides an overview and introduction to digital strategy from Bud Caddell, SVP and Director of Digital Strategy at Deutsch LA. It defines key terms like digital strategy, digital strategist, and core concepts. It explores what a digital strategy and strategist are, essential concepts like insights, cultural tensions and category conventions, and what deliverables a digital strategist produces. The document is intended to educate young practitioners entering the field of digital strategy.
1. The document discusses hiring the right team and building a strong company culture. It emphasizes that the first hires will dictate much of what follows, so one should avoid common mistakes and hire only A+ talent.
2. Company culture should not be stated but lived out through actions. It's important but difficult to build a culture that aligns people and allows the company to attract top talent.
3. The new role is chief people officer, and the priorities are to hire 3 excellent teams not just 1, take time with hiring and get help from professionals when filling the first roles.
Building an enduring, multi-billion dollar consumer technology company is hard. As an investor, knowing which startups have the potential to be massive and long-lasting is also hard. From both perspectives, identifying companies with this potential is a combination of “art” and “science” — the art is understanding how products work, and the science is knowing how to measure it. At the earliest stages of a company, it comes down to understanding how a product is built to maximize and leverage user engagement.
In this presentation, Sarah Tavel shares her "Hierarchy of Engagement" framework she uses to evaluate non-transactional consumer companies she is looking to invest in.
9 Unique Traits of High-Performing TeamsWeekdone.com
High-performing teams have several traits in common that make them successful. Some of the key traits include embracing diversity of backgrounds, prioritizing work-life balance for all members, and maintaining laser-like focus on goals. These teams also engage well together both during formal meetings and outside of meetings through open communication. Fostering strengths of all members, healthy debates, and group cohesion are other characteristics of top teams.
What is Digital Strategy? presentation explains the role of digital strategy in easy to understand language.
This is a presentation from the online course 'Crash Course to Digital Strategy' that you can sign up to on Skillshare for $20 http://skl.sh/VOj2ol
Pay with a tweet to download - http://www.paywithatweet.com/pay/connect.php?id=3bc9bee2cfdc011872fc15e896cbd108
Looks at answering what the role of a Digital Strategist is in an Advertising Agency. A relative of the Communications Planner, Strategic Planner and Account Planner, Digital Strategy concentrates on understanding the digital consumer, brand, media and creativity.
Looking at the core skills of Insight Mining, Communication Planning and Digital Metrics for success.
Thanks to Mark Pollard, Ana Andjelic, Mike Arauz and the many other Digital Strategists who helped me work out this bloody hard question.
This document provides 20 quotes from historical figures to inspire creative genius. The quotes encourage thinking outside the box, taking risks, being curious, breaking rules, and gaining an unfair advantage through creativity. They emphasize trusting instincts, changing the world through committed groups, and navigating without a map in creative pursuits. The document aims to banish creative roadblocks by sharing inspirational thoughts on creativity.
People love the notion of the sole innovator, but this notion is wrong. Successful companies are usually started, and become successful, with the contributions of at least two people. Yin and yang, maker and seller, dreamer and pragmatist — call it what you will. After the fact, people may recognize one founder as the innovator, but it takes a team to make a new venture work.
Derek Sivers, the co-founder of CD Baby, said it best: “The first follower is what transforms the lone nut into a leader.”
In some instances the first follower is the first customer, but most often the first follower is the second employee of a company — that is, the co-founder.
There are few factors that can make a company more successful, fun, and epic than an awesome co-founder. There are few factors that can make a company more unsuccessful, aggravating, and pathetic than an incompetent, lazy, or dishonest co-founder.
This SlideShare explains the art of the picking a co-founder and is part of the LinkedIn Influencer series for #mystartupstory.
Photo credit: https://www.flickr.com/photos/jrmllvr/
How I got 2.5 Million views on Slideshare (by @nickdemey - Board of Innovation)Board of Innovation
This document provides tips for creating engaging slide decks on SlideShare that garner many views. It recommends focusing on quality over quantity when creating each slide, using compelling images and headlines, and including calls to action throughout. It also suggests experimenting with sharing techniques and doing so in waves to build momentum. The goal is to create decks that are optimized for sharing and spread across multiple channels over time.
WTF - Why the Future Is Up to Us - pptx versionTim O'Reilly
This is the talk I gave January 12, 2017 at the G20/OECD Conference on the Digital Future in Berlin. I talk about fitness landscapes as applied to technology and business, the role of unchecked financialization in the state of our politics and economy, and why technology really wants to create jobs, not destroy them. (There is a separate PDF version, but some readers said the notes were too fuzzy to read.)
20 Inspirational Sales Quotes from Don DraperInsightSquared
Don Draper, the brilliant ad man from the popular AMC TV show Mad Men, often shares words of advice on business, marketing and life in general. We’ve collected 20 of our favorite inspirational life and sales quotes from Don Draper to motivate you.
This is the presentation that I gave to the Young Planners at Cannes 2014. The data herein is taken from survey distributed through @cheiluk, @yellif and @cr
Amazon was founded in 1994 by Jeff Bezos and has grown to become one of the largest online retailers. It utilizes a multi-level e-commerce strategy and virtuous cycle business model to offer customers convenience, wide selection, and competitive pricing. Through customer segmentation, personalized recommendations, and its large product catalog, Amazon provides a synergistic shopping experience that has helped it become a $14 billion retail business.
Ling Shou Tong: Alibaba’s Next Innovative Disruptor?accenture
This piece examines Ling Shou Tong (Alibaba’s new retail inventory management platform)and looks at how it’s disrupting convenience stores and post and parcel delivery in China.
Useful Thoughts From Advertising MentorsVishal Ostwal
I read Praveen Vaidyanathan's tweets a while ago in which he had shared some of the most useful thoughts from his mentors.
All of them inspired me and I felt like the words should reach more people. So I put them together in the following deck.
You'll love them.
They're pure gold.
#Advertising
Every startup begins with an idea. This is a talk on how to come up with startup ideas and how to use validation to pick the ones worth working on. It's based on the book "Hello, Startup" (http://www.hello-startup.net/). You can find the video of the talk here: https://www.youtube.com/watch?v=GkmiE8d_5Pw
Three business basics to always remember! People don't care about your brand. They care about what you can do for them. Back to basics... Give people what they want, do it consistently and do it better than your competition.
estamos en el punto en que las interacciones con la tecnología han incrementado. El conocimiento de los usuarios y la información que recopilamos nos ofrecen nuevas perspectivas a medida que la tecnología se sumerge en nuestro espacio y nuestras actividades cotidianas. Exploraremos la evolución de un mundo con una pantalla en blanco y negro a un mundo de pantallas múltiples y las nuevas posibilidades que van más allá, incluida el conocimiento de contexto, la anticipación y Zero UI.
We are in a point that the interactions with technology has increase. The knowledge of users and the information we gather offer us new perspectives as technology get immersive in our space and day to day activities. We will explore the evolution from a single to a multiscreen world and the new possibilities beyond, including context awareness, anticipation, and zero UI.
NHRDN Virtual Learning Session on Encouraging an environment of innovationNational HRD Network
The document discusses the important role of frontline leaders in encouraging innovation. It emphasizes that creativity drives innovation and outlines three key leader behaviors needed to promote innovation: building trust to take risks, helping employees through risks, and facilitating purposeful change. Frontline leaders must inspire curiosity, challenge assumptions, and think differently to overcome innovation challenges and drive meaningful change.
The document discusses principles for innovation management. It argues that traditional management focuses on stability and efficiency through standardized processes, while innovation requires experimentation and flexibility to address uncertainty. Effective innovation management requires an entrepreneurial approach of building new advantages through cross-functional teams, frequent testing of ideas, and viewing failures as learning opportunities rather than risks to avoid. The role of leadership is to guide experimentation by setting challenges, providing resources, and acting as a "chief experimenter" who learns through testing new approaches.
The document outlines three keys to innovative leadership presented by Dr. Bobby Gilstrap. Key #1 discusses five intangibles of innovative leaders: they lead with drive, insight, personal connection, are contemplative, and lead with passion. Key #2 discusses seven principles: know yourself, let go of the past, learn your purpose, live with openness to change, learn teamwork, share leadership, and let creativity flourish. Key #3 discusses seven practices: listen to God, listen to people, help others succeed, speak truth in love, build networks, pursue excellence, and model stability.
The innovator’s method by Nathan Furr and Jeff dyer. Book Summary by D Shivak...Marketing Buzzar
What makes a Good Leader. Lessons, tips, Insights & more.
A crisp summary of the book "Strategies for Taking Charge" : Warren Bennis & Burt Nanus by D Shivakumar, Chairman & CEO - India Region, PepsiCo
Dealing with the 21st Century Teaching and Learning to produce Life long Learners to cope with current and future demand where Change is the only Constant now.
In today’s business environment, there is constant need to look for new opportunities. The risk of doing business as usual means failure. How can we take advantage of new emerging technologies? We get overload of new products and services, but it is not easy to see the real trends.
In this lecture we look at how to spot trends and how to recognize shift in people’s behaviour. We also explore some tactics we can apply to find new business models and introduce the Innovator's Method, a framework for starting a business in a lean way.
Innovation leadership in Education 2015Timothy Wooi
Course Outline
Introduction
Leadership, Innovation and
Why Educational Innovation?
21st Century Teaching and learning
Innovation Leadership in Education
7 Steps to becoming an Innovative Leader
18 Steps to Better Educational
Innovation Leadership
(Advice from Christensen’s Innovator’s DNA)
Telecom operators are central to the French digital ecosystem, accounting for around 60% of revenues, 75% of employment, and around 90% of investments and taxes. As digital demand grows in France, there is a need for highly performing networks that can ensure network security, high connection speeds, reliable service, and sufficient network capacity to support innovative new digital services. However, declining revenues in the telecom sector in Europe are starting to reduce investments, posing a challenge for developing networks to meet future needs. Proposals are needed to strengthen telecom operators and develop a strong digital offering in France and Europe.
Here are a few of the disruptions we have picked up in the finance sector and how you can take your future into your own hands by transforming your company.
http://www.dearmedia.be/digital-transformation/
The document discusses trends in augmented reality (AR), virtual reality (VR), and mixed reality (MR) technologies, noting that while 2016 saw increased adoption and awareness of these technologies, most organizations' approaches to developing experiences with them remained siloed and lacked integration. In 2017, the document suggests, organizations will move beyond treating AR, VR and MR as separate and will instead focus on creating singular, integrated experiential platforms that combine different types of reality into "blurred reality" experiences.
Retail is changing fast. Customers are embracing digital and behaving in more complex and challenging ways. They are shopping everywhere and at any time. They research and compare. They want to make their own versions of the product. They want to know how things are made.
Companies need to start tailoring people retail experiences.
A co-creation with Maria Lumiaho, at Futurice.
Retail is changing fast. Customers are embracing digital and behaving in more complex and challenging ways. They are shopping everywhere and at any time. They research and compare. They want to make their own versions of the product. They want to know how things are made.
Companies need to start tailoring people's retail experiences.
Presented at Service Design Drinks Helsinki, 14.2.2015.
The document discusses innovations that will shape retail between now and 2020. It focuses on three key themes: the customer, the store, and omnichannel. Regarding the customer theme, technologies like mobile commerce and social media are both opportunities and challenges for retailers to adapt to changing consumer dynamics. The innovations highlighted will help retailers understand where they can best add value. The only certainty is that rapid change will continue, so this research aims to help retailers be better prepared to meet that challenge.
The document discusses innovations that will shape retail between now and 2020. It focuses on three key themes: the customer, the store, and omnichannel. Regarding the customer theme, mobile technologies are changing consumer behavior and new apps are helping retailers better understand shoppers. For the store theme, innovative store designs and concepts are redefining the shopping experience. In the omnichannel theme, technologies are blurring the lines between online and offline commerce and helping brands connect with customers across channels. The document presents 50 case studies of cutting-edge retail innovations from around the world to illustrate trends within these three themes and provide insights for retailers.
The document provides an overview of the first Retail Insider Digital Retail Innovations report, which aims to highlight interesting developments in the retail sector driven by digital technology. It introduces an advisory panel that helped rank 45 retail innovations from the UK/Ireland and 10 from overseas. The top-ranked innovation is Google Glass, followed by DPD's parcel tracking service and locker collections points in London Underground stations. The report methodology and rankings are also summarized.
Webloyalty sponsors Digital Retail Innovation ReportWebloyalty UK
The Digital Retail Innovation Report was produced by Retail Insider and sponsored by Webloyalty. Looking at which companies are changing the face of retail, the report reveals exciting propositions for retailers and consumers to keep an eye on.
You can see the videos discussing the report here: https://www.youtube.com/watch?v=gMOD9Fd7cBc&list=PLyPluztjm-CCi7XyyQMLH4zHyy3rKrUv5
How retailers choose technology and how to get them to choose youFieldworks Marketing
1) The buying process for retailers has changed dramatically, with decisions now made by a wider range of stakeholders across different departments rather than just IT.
2) Retailers are more proactively seeking out and developing their own technology solutions through initiatives like digital labs and hackathons. They want more collaborative relationships with technology partners.
3) To succeed with retailers, vendors must have a deep understanding of the market and target prospects individually, developing relationships with both decision-makers and their influencers through personalized outreach. They must appeal to retailers emotionally in addition to providing rational benefits.
Event_FST Sydney RT_Transcript FINAL_Q4 14Scott Leader
The document summarizes a discussion between heads of innovation, digital, technology and customer experience from various banking and insurance companies on strategies for transforming to survive and thrive in a digital world.
David Hackshall from Wesfarmers Insurance discusses how technology has led to changes in social behavior and customer expectations, and the need for organizations to focus on customer experience, leverage data to personalize interactions, and build loyalty programs.
Representatives from Commonwealth Bank of Australia, Westpac, TAL, ING Direct and AMP discuss their approaches to driving innovation through initiatives like innovation labs, prototyping, testing ideas quickly, and collaborating both internally and externally.
The Retail Insider Digital Retail Innovations report highlights some of the most interesting technological developments which are taking place in the retail sector.
The report contains 50 top innovations from the UK & Ireland and 10 from the rest of the world
An Interview with Marc Menesguen Managing Director, Strategic Marketing for L...Capgemini
Leading a digital transformation at an established enterprise with entrenched brand loyalty and a traditional business model is no easy task. Yet executives at L'Oreal recognize that digitization represents "an extraordinary opportunity to strengthen our current business model and become even better at being the world's number one beauty group."
In this Capgemini Consulting interview, Marc Menesguen, Managing Director of Strategic Marketing for L'Oreal, explains that having commitment from the CEO was critical to making the strategy a success as was creating cross-functional teams of marketing, research, communictions, manufacturing and sales. Moreover, the company plans to double its investment in digital media from 5% to 10% in 2011 -- for both internal systems and external collaboration -- and to train 15,000 employees, including mangers, in "digital fluency."
"Too poor to buy cheap" - Whitepaper Retail by Fitzroy Fitzroy BV
Every year, retailers are faced with new challenges. Sustainability, pandemic lockdowns, new product development, diversity and inclusivity matters, staff shortage, digital transformation and inflation. Just to mention a few. We talked to 10 experts and pinpointed 4 shifts currently influencing retail in the Netherlands and beyond. Curious? You can download your free whitepaper here.Happy reading! If you have any questions, please contact me via: pernille@fitzroy.nl
Pernille Kok-Jensen Insight Director Fitzroy
WHEN IT COMES TO THE RETAIL INDUSTRY, THERE IS NEVER A DULL MOMENT: RETAIL TRENDS IN 2023
Every year, retailers are faced with new challenges. Sustainability, pandemic lockdowns, new product development, diversity and inclusivity matters, staff shortage, digital transformation and inflation. Just to mention a few. We talked to 10 experts and pinpointed 4 shifts currently influencing retail in the Netherlands and beyond. Curious? You can download your free whitepaper here. Happy reading!
As the global retail sector sees shifts in consumer behaviour retailers must stay ahead of the factors influencing fast-changing market.
We have compiled a trend report which identifies eight key IT, cultural and social trends driving change in the retail sector in order to identify short-term customer opportunities in the run-up to 2020.
B2B Digital Marketing Playbook for the COVID EraRohas Nagpal
Customers have changed.
Spending patterns have changed.
People's priorities have changed.
How people spend their time has changed.
So naturally, marketing techniques
NEED TO CHANGE.
The "B2B Digital Marketing Playbook for the COVID Era" recommends an 11-point approach:
1. Understand what you are selling
2. Understand whom you are selling to
3. Design your digital marketing strategy
4. Optimize your website
5. Incentivize influencers
6. Optimize your digital marketing assets
7. Distribute your digital marketing assets
8. Make it easy for potential customers to contact you
9. Aim for a 60-second response time
10. Use dynamic QR codes
11. Use Artificial Intelligence
The document discusses three megatrends shaping media and brands' recovery from the pandemic: 1) The Prolonged Pandemic, 2) Brand Citizenship, and 3) Identity. For the first trend, it describes how the pandemic accelerated existing trends like digital usage and online commerce. It notes industries are adapting to new hybrid models that blend online and offline experiences. Specifically, it discusses how entertainment, events, work and healthcare are becoming more omnichannel. It also covers the growth of new shopping services that deliver groceries and other items quickly to customers. The document examines the opportunities these changes present for brands to guide customers and adapt to new patterns of living and media usage.
Consumers aren't just craving new experiences from brands, they're demanding them - with scale. Successful brands will be those that adapt and derive from customer insights, both positive and negative.
In the recently published Razorfish Outlook Report 2010, we analyzed how our clients evolved with the challenging economic environment, what media proved effective, what didn’t deliver, and how this information can be used to direct successful strategy moving forward.
- The recession caused clients to adjust spending but overall digital investment increased 4% in 2009 after dropping 13% in 2008.
- 70% of clients kept their marketing mix the same, while 40% shifted more to direct response and 60% shifted more to branding.
- Nearly 60% of media spending was on impression-based buys like CPM, while 36% was on performance buys like CPC.
- Search CPC prices increased significantly from 2007-2009 as the landscape became more competitive.
- Over 50% of client spending was in efficient vehicles like search, ad networks, and data brokers due to the recession.
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Consumers aren't just craving new experiences from brands, they're demanding them - with scale. Successful brands will be those that adapt and derive from customer insights, both positive and negative.
In the recently published Razorfish Outlook Report 2010, we analyzed how our clients evolved with the challenging economic environment, what media proved effective, what didn’t deliver, and how this information can be used to direct successful strategy moving forward.
Consumers aren't just craving new experiences from brands, they're demanding them - with scale. Successful brands will be those that adapt and derive from customer insights, both positive and negative.
In the recently published Razorfish Outlook Report 2010, we analyzed how our clients evolved with the challenging economic environment, what media proved effective, what didn’t deliver, and how this information can be used to direct successful strategy moving forward.
Consumers aren't just craving new experiences from brands, they're demanding them - with scale. Successful brands will be those that adapt and derive from customer insights, both positive and negative.
In the recently published Razorfish Outlook Report 2010, we analyzed how our clients evolved with the challenging economic environment, what media proved effective, what didn’t deliver, and how this information can be used to direct successful strategy moving forward.
Similar to Case Study: Mastering digital disruption in retail (20)
10 Inspiring Corporate Venturing Initiatives in the UAEScopernia
Corporate Venturing is a growing trend worldwide, allowing corporates to accelerate innovation through collaboration with startups.
Since we opened our office in Dubai in 2017, we have collaborated with major local and international organisations to help them invest in corporate venturing but also discovered marvellous local initiatives.
That's why we decided to highlight and share with you 10 of the greatest corporate venturing initiatives in the UAE.
Download the full slide deck for free here: bit.ly/Future_of_Mobility
This is a presentation given by Aitor Somers, consultant at Duval Union Consulting and expert in mobility. This slide deck gives a more thorough insight on the symbiosis between the mobility of the future and other societal, demographical and economic changes on a holistic level.
Digital Transformation in Media - 7 Steps to Become Future ProofScopernia
The document provides an overview of digital transformation and outlines 7 steps for organizations to become future proof. It discusses understanding digital disruption and its impact on industries. Next, it emphasizes the importance of defining a north star vision for the future and a strategic roadmap for transformation. Finally, it stresses the need to create new customer-centric business models, build a digital leadership team, and change organizational culture.
Digital transformation 7 Steps To Become A Future Proof OrganisationScopernia
The world is changing at a high pace. Digital disruption has an impact on every part of society and is transforming business in every industry. This presentation shows how you can master your digital transformation in 7 steps. The endgoal is to become a future proof organisation
The document discusses the future of retail being hybrid. It argues that retailers must combine online and offline experiences to succeed against digital disruptors. Specifically, it recommends that retailers (1) reinvent their physical store experiences and link them to online, (2) benchmark against digital competitors and copy their successes, and (3) develop a hybrid strategy that innovates new business models utilizing both online and offline platforms.
12 Steps to Become a Future Proof OrganizationScopernia
Digital Transformation is real but and takes more than insights and inspiration to become a future proof organization. This presentation explains in 12 steps how to evolve from urgency to vision, from strategy to planning and from governance to culture.
The travel industry was one of the first to be disrupted by digital and is stil subject to permanent change. This presentation applies the 7 metaphors to identity the parallels with other industries and describes a method to master the transformation.
Man Machine Collaboration Dell EMC event in Brussels Scopernia
This document discusses how machines and automation will impact jobs and employment. It introduces the concepts of necessary trusted service level (NTSL) and levels of automation (LOA) to analyze which job tasks can be automated and which require human skills. The model presented argues that jobs of the future will rely on man-machine collaboration, with machines handling routine tasks and data processing while humans focus on skills like creativity, social interaction and contextual thinking. The document provides examples of companies adopting this approach and outlines a five step process for organizations to develop strategies balancing technological progress with meaningful employment.
Automation and AI are becoming a reality and entering many (white collar) professions. Will robots take over all our jobs? Man Machine Collaboration is a framework to anticipate and connect automation and human employment to work towards a positive future.
Digital Transformation In The Hotel IndustryScopernia
Presentation for the GM's of Benelux Accor hotels in Amsterdam. How recognise the patterns of disruption and develop your own plan to understand and deal with transformation.
Digital transformation is happening across many industries. Three common misunderstandings about digital transformation are that it is only about technology, only about product innovation, or the same as digitization. A plan for digital transformation should scan innovations, determine impact, create a vision, build a roadmap, install leadership, and design the organization. The future will bring more changes like augmented reality, artificial intelligence, and self-driving vehicles that will disrupt many industries.
We believe that every organisation, large or small, has much to learn from Amazon. If you're in any kind of commerce or logistics, you absolutely must pay attention to Amazon.
In The Amazon Case we'll explain you why they are winning and how they are doing it.
Digital Transformation From Strategy To ImplementationScopernia
Creating a digital transformation strategy is one thing but how do you put the insights and plans into practice. This presentation deals with vision, strategy, roadmap, governance, leadership, channel hacking, start-up-thinking and many more issues.
The document provides an overview of digital transformation and the challenges organizations face. It discusses various forces disrupting industries like new gatekeepers, empowered customers who expect instant access and personalized experiences, and emerging technologies like artificial intelligence, robotics, and the Internet of Things. The document advocates that organizations transform by scanning their environment, determining digital's impact, creating a vision for the future, and defining a strategic roadmap.
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The Artesis Plantijn Hogeschool in Antwerp conducted research on how hotels are using social media. This is Jo Caudron's closing keynote on the impact of digital transformation on the travel industry.
The document discusses digital transformation and provides a plan for organizations to transform. It outlines scanning innovations, determining impact, creating a north star vision and strategy, building a roadmap, installing digital leadership, and building a digital organization and culture. Key aspects of digital transformation include dealing with disruption, choosing between fear or being inspired, and having a plan to transform through various stages.
The document provides an overview of digital transformation and its impacts. It discusses how digital disruption is affecting various industries and the need for organizations to transform their business models, leadership, culture and ways of working to adapt. It emphasizes the importance of continuously scanning the environment, having a vision for the future, and developing a strategic roadmap to guide the transformation journey and build a future-proof organization.
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MaxLearn offers a cutting-edge microlearning platform that helps to create, deliver, and verify the courses with a click of a button to improve employee efficiency.
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Examples include P&G, Unilever, and Nestle managing multiple brands in different product categories.
Retail Audit Program | Retail Store Audit ProcessRetail Scan
Retail Scan is a pioneer in India in 100% customized retail audits. Retail Scan has a proprietary app-based store tracking technology. Our well-trained auditors go on the field and capture the status of in-store merchandising elements like windows, assets, POSM elements, planograms, product availability on shelf, etc. through survey data and images.
Presentation on Retail Banking - An OverviewAjay S
PPT on Retail Banking.
Introduction to Retail Banking
Let's start with an introduction to retail banking. Retail
banking, also known as consumer banking, involves providing
financial services to individual consumers rather than businesses. It
plays a crucial role in the financial system by offering services such
as savings accounts, loans, and credit cards. These services help
individuals manage their finances effectively and securely.
History of Retail Banking
Retail banking has a fascinating history. It began in ancient
times with temples providing loans. During medieval times, banks
like the Medici Bank emerged in Europe, offering services to both
merchants and individuals. The Industrial Revolution in the 18th and
19th centuries saw the establishment of modern banks, introducing
products like savings accounts and personal loans. The 1960s
brought about a significant change with the introduction of ATMs,
which revolutionized access to banking services. In the 21st century,
the digital revolution further transformed the industry, making
financial services more accessible through internet and mobile
banking.
Key Services Offered
Retail banks offer a variety of services. First, we have
deposits, which include savings accounts, checking accounts, and
fixed deposits. These accounts provide a secure place to store money
and earn interest. Next, there are loans, including personal loans,
home loans, and auto loans, which help individuals make major
purchases or investments. Lastly, credit and debit cards facilitate
cashless transactions and provide short-term credit for purchases.
Types of Retail Banking Accounts
Retail banks offer different types of accounts to meet various
needs. A savings account allows customers to store their money
securely while earning interest. A checking account provides easy
access to funds for daily transactions. Fixed deposits offer higher
interest rates for money that is locked in for a specific period.
Recurring deposits allow customers to make regular monthly deposits
that also earn interest.
Retail Banking Channels
Retail banking services are accessed through various
channels. Traditional branch banking involves visiting a physical bank
branch. Online banking allows customers to manage their accounts
and transactions via the internet. Mobile banking uses smartphone
apps for banking services on the go. ATMs, or automated teller
machines, provide cash withdrawals and other services without
needing to visit a branch.
Benefits of Retail Banking
Retail banking offers several benefits. It provides
convenience, allowing customers easy access to financial services.
Accessibility is another key benefit, as these services are available to
a wide range of customers. Finally, retail banks offer a variety of
financial products, from savings accounts to loans, to meet different
financial needs.
Challenges in Retail Banking
Despite its benefits, retail banking faces several challenges.
Kolkata’s KCC Gallery Store offers a wide range of eco-friendly craft and design supplies, from sustainable paper and natural paints to upcycled home decor and handmade accessories. Perfect for environmentally conscious creators.
2. Duval Union Consulting
Duval Union Consulting is a consulting company for a new digital world. We help our clients with
their long term Digital Transformation, yet also provide them with all the necessary strategic advice
to deal with Digital Strategy, Social Media and day to day Marketing challenges.
Duval Union Consulting is based on the foundation of DearMedia and Youmen. DearMedia was
created in 2009 by Jo Caudron & Dado Van Peteghem. They grew the company into a team of 8
consultants and in 2015 they decided to become the heart of the Duval Union ecosystem.
Youmen, founded by Frederic Vanderheyde & Carole Lamarque, was integrated in the Duval Union
Consulting company soon after, to grow the Innovative Marketing expertise.
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jo.caudron@duvalunion.com - dado.vanpeteghem@duvalunion.com - carole.lamarque@duvalunion.com - frederic.vanderheyde@duvalunion.com
More info: www.duvalunionconsulting.com
3. Duval Union Consulting
A consulting company for a new digital world
Through a series of workshops we help you to
understand digital disruption and offer you a
model to shape your own future.
GET MORE INFO > DUVALUNIONCONSULTING.COM
Need help?
Digital Transformation Modeling
A model to master digital disruption
A book on digital transformation for you to
understand and act upon digital disruption. Through
the book we share our vision and approach.
BUY THE BOOK > DIGITALTRANSFORMATIONBOOK.COM
4. Belgian retailer Torfs and Duval Union Consulting worked together to
design a digital transformation strategy for the company to master
disruption by new players like Zalando.
When setting out the (digital) business strategy for the future of your
company, it’s key to find answers on the following three questions:
1. What is happening right now in the world and in retail?
The world is fundamentally changing, and so is the retail industry.
Knowing what causes these evolutions is fundamentally important, the
same way as it is to measure the impact of the disruption on your
business.
We’ve summarized the biggest trends in retail for you to evaluate your
current position and the impact of digital disruption on your business.
2. What will happen in the coming years?
Once you know what is happening, you need to plan ahead by
describing possible future scenario’s and the position of your company
in these storylines. For Torfs, we’ve written 4 possible scenario’s and
labeled the ‘most wanted’ and ‘most likely’ ones.
3. What are we, as an organization, going to do?
In this phase, you’re going to conduct a plan or strategy to master the
threats alongside your way: You need to describe the transformation
mission, vision & strategy, which will be your guide towards the future
and the best way to validate any (digital) business idea.
But it doesn’t stop there.
To ensure that your organization survives the digital future, you’ll really
need to implement ‘digital’ in the core, develop digital leadership and
constantly monitor future trends.
It seems like there’s a lot to do, and there is. But this is not
insurmountable. Start today, give change a chance and disrupt yourself.
Before somebody else does.
Mastering disruption in retail
“The internet is not a friendly place. Things that don’t stay relevant
don’t even get the luxury of leaving ruins. They disappear.”
- Facebook’s Little Red Book
5. 1. Schoenen Torfs
“Substance, approach and especially style made Jo Caudron
and his team the perfect fit for this project with us.”
- Barbara Torfs,
Director of Marketing & Communication Torfs
Torfs is a a Belgian retailer in shoes. The
organization has more than 70 stores in Belgium.
The company originates from the end of World War
II. After a period of selling shoes on
the marketplace in Mechelen, founder Karel Torfs
decided to start Schoenen Torfs in 1948 and opened
four stores together with his wife. The company went
from father to son and in 1986, Wouter Torfs (son of
the third generation) came in play.
Under his charge the family company grew out to
become an established retailer in Belgium, best
known for its family values and motivated
employees. Therefore, Torfs has been elected Best
Employer & Best Workplace in Belgium several
times.
6. 2. Challenges
Retail companies have quite some challenges
with the way the world is (rapidly) changing due
to digitization. That’s why Torfs & Duval Union
Consulting have worked together to set up a
strategy to master the digital transformation
of Torfs.
On the following pages, we discuss the current
market situation and disruptive trends in retail
based on our seven Drivers of Transformation.
It’s fundamental to understand what is going on
at the moment in the retail industry, where it is
going and identify critical threats when
constructing a digital strategy towards the future.
Waves of Digital Disruption
After 20 years of online activity, the world is realizing
that digital technologies are changing the way we
do business.
1995+
Music
Photography
Video Rental
…
2010+
Print Media
TV
Travel
HR
…
2015+
Banking
Healthcare
Automotive
Retail
Education
Telco
…
2020+
All Safe
havens will
be subject
to digital
disruption
…
7. Retailers need to become more transparent
towards consumers. There is a high demand
in taking greater responsibility.
The distance between consumer & company
is getting smaller and these consumers
demand a greater responsiveness
of retailers.
Communication with clients
happens bi-directional due to social media,
resulting in the thriving of humanized
organizations.
At last, authenticity has never
been more important than today.
2.1. Glass House // Retailers are becoming glass houses
8. 2.2. Package // Providing experience is becoming the norm
Competitors are ‘unbundling’ or ‘rebundling’ their
supply. New players are attacking traditional
retailers and we see a tendency towards
’appification'.
There is an immense long tail in retail due to the
widespread digitization.
We see that people want more personalized
products and that ‘buying’ in general has become an
experience.
Speed is elementary: not only did it become a
differentiator but it raised the overall expectation of
consumers. We just want things here & now.
Price is still a big differentiator, offline and online.
We see that disruptors also bet big on (self)-service.
At last, traditional players lack the scalability that
new players do have.
9. 2.3. Frog // The entire value chain is changing
Bypassing is a strong disruptive force in the retail
industry.
All the elements in the value chain are switching
places rapidly: We see manufacturers building their
own sales channel, retailers becoming producers and
even consumers becoming shops themselves.
Traditional (offline) services are becoming more
virtualized in an online environment.
Customers have far more options because of the huge
fragmentation of touch points.
The human factor will always remain important,
but the combination of online & offline top experience
is becoming the standard.
If you can sell expensive cars online,
you can sell anything online.
10. 2.4. Gatekeeper // New experts are taking it up a notch
Not only traditional partners are
becoming bypassers: New gatekeepers
are changing your position in the market
as well.
We believe that ambassadorship
marketing is the way to go, also for
retailers: employees and customers are
important (and probably the best)
ambassadors for brands in retail. Never
forget that people tend to buy what is
being recommended by peers.
We’re seeing a ‘good is good enough’-
attitude growing amongst your clients.
Snapchat for instance: communication
that is good, real but not perfectly
crafted!
TRADITIONAL GATEKEEPERS
Crowd-sourced opinionsPeers as news distributorsAutomatic algorithmsNew “experts”
+ + + +
11. 2.5. Traveller // Mobile shoppers are smart shoppers
The ‘location of retail’ is shifting vastly from local
towards online & mobile. Smartphones make the
process of consuming much easier.
People are becoming an empowered self due to
mobile technology: e.g. testing the product in-store
& buy it with their smartphone on Amazon.
We’ve always wanted instant gratification, but with
the mobile evolution, everything has changed rules:
We want everything here & now.
Besides that, we see a new way of working: for
your employees and your customers. And mobile
ecosystems are introducing contextual awareness:
A mobile shopper is a smart shopper.
12. 2.6. Participant // Harder to drive retention in a Peer 2 Peer Economy
Communities have always been valuable for
retailers but it’s only now that brands
acknowledge their importance: it’s a great way
to drive loyalty. That’s why we see
gamification being introduced in retail.
Digital technology is making it easier for
consumers to collaborate amongst each other
and/or with their favorite brands.
But we also see that new players are using the
(financial) power of the crowd to kickstart
their ideas and that the sharing economy is
changing the world forever. As digital we’ll
get, ‘human’ will always remain important -
but in a digitally facilitated way!
13. 2.7. Cyborg // The long tail is hurting the retail industry
On the one hand we’re seeing that
retail is becoming smart(er) because
of the Internet Of Things, but this
could bypass the traditional players
on the other hand (e.g. sensor-based
passive buying).
Wearables are becoming more &
more mainstream and are making
people quantified selves, which
consume in a different way.
Robotics are improving (the efficiency
of) logistics in retail, smart ‘big data’
is playing a bigger role than ever in
retail and consumer monitoring is
being implemented at light speed.
The future is near. Don’t you think?
14. RETAIL
2020
OFFLINE
& ONLINE
PROXIMITY
FRAGMENTATION,
UNBUNDLING &
NEW FORMULAS
NEW BUSINESS
CONCEPTS
OFFLINE
& ONLINE
EXPERIENCE
PERSONALIZATION,
AUTOMATIZATION &
BIG DATA
BRANDS NEED
RETAILERS
RELATIONSHIP
WITH
CUSTOMERS
The retail industry is moving towards a world…
… where online retailers explore the offline world &
vice versa.
… with a lot of fragmentation, unbundling & new
retail formulas.
… where brands still need retailers to effectively
reach consumers.
… where retailers are providing customers with
online & offline experiences.
… where new business concepts of retail thrive.
… where retailers can maintain & reinforce the
relationship with the customers.
… where digital players invest in automatization,
personalization & big data.
2.8. The challenges for Torfs & other traditional retailers
15. 3. Solution
To kick off the digital transformation of Torfs, detailed insights and understandings about what is
happening in and beyond the world of retail today were needed. This phase of the transformation
was inspirational and opened the eyes of the stakeholders of the company.
An impact analysis of the Drivers of Transformation on Torfs was conducted to assess the possible
change to their business as triggered by digital transformation.
We then predicted future scenario’s for the Key Transformation Areas of Torfs to understand the
possible futures and making them visible for all stakeholders.
Together with Torfs, we’ve brainstormed about business ideas for the company considering the
designed scenarios and the (position of Torfs in the) future of Retail and mapped them on a realistic
digital roadmap.
After any digital transformation project it is needed to monitor all new trends and keep our eyes on
the possible scenarios to make sure that Torfs is able to change course in a fast but well thought way,
which is aligned with the business strategy of the company.
3.1. Our approach - Digital Transformation Modeling
16. 3.2. The outcome of the Digital Transformation Modeling approach
LONGLIST BUSINESS IDEAS
does it contribute to our
own strategy?
does it solve real
problems?
is there a
business case?
launch on the
mothership or
start a zodiac?
SHORTLIST VALIDATED
BUSINESS IDEAS
DIGITAL AGENDA
Every new business idea passed ‘the digital transformation
funnel’, which we have created together with Torfs, to ensure
that it will contribute to the strategy of the company’s
transformation and solve a real company/market problem.
If the proposed project did fit in the digital strategy and
potentially solved a real problem, business cases were set
up and decided whether the innovation should be set in
place by the company or a corporate startup of the
company.
The validation process led us to a shortlist of business ideas,
which were then prioritized and organized:
the digital agenda of Torfs was designed.
17. 3.3. The future of Torfs
Looking at the trends, learns us that Torfs already has
built up some strengths over the years. The
organization has always been doing well in terms of
being transparent, accountable and a human company.
Combining these elements of The Glass House with
offering a great service, results in a strong network and
a good relationship with the customers.
Despite these upsides, we’ve found that Torfs is still
facing numerous challenges to compete with new,
digital (and disruptive) players in retail such as Zalando.
The company will need to take relatively big steps,
however we see that Torfs will be able to make the leap
forward and transform successfully towards a hybrid
company where digital innovations and traditional
values meet each other halfway.
Offering digital experience & the traditional values
in the offline world and a top-notch user
experience in the online webshop is the way to go
for Schoenen Torfs.
18. 3.4. Torfs on Digital Transformation Modeling
“Starting today, everything will change. All colleagues -
regardless of levels, departments and structures - will work
together in new and different ways. Open, forward-looking,
no-nonsense but keeping both feet on the ground.”
The best is yet to come!
- Barbara Torfs, Director of Marketing & Communication
“Duval Union Consulting managed to align the members of the entire management
team in our digital transformation. This project was a unique experience, which resulted
in a shared vision of the management.
Initially only a handful of believers truly led the digital transformation project internally.
Because of the workshops, however, the transformation mission has secured and gained
widespread support throughout the company. We’re fully convinced that this support is
an absolute must to really set things in motion.”
19. What’s your move?
The time is now…
Digital and online services are evolving at an unseen
speed. After 20 years of online activity, digital
technologies have fundamentally changed the way we
live, work and play. And this is merely the beginning. All
of these evolutions have a huge impact on our lives.
And on the way we do business. Digital is disruptive.
Unfortunately several industries and companies didn’t
anticipate the digital transformation and “lost the
game” along the way. Most companies lack a solid plan
of ‘defense’ to cope with the digital transformation. And
we’re running out of time.
In order to stay ahead of the new players and to keep
up with the transformations in the market, traditional
businesses need to get prepared in a structural way.
We have reached a stage where ‘digital’ and ‘online’ are
no longer a gimmick at the sidelines of the business
activities. Digital is actually transforming the very
essence of business. It moved from the sidelines to the
core, from online tactics to business strategy.
Because disruption is happening so fast, we believe
that the time is now for organizations to transform their
businesses for the digital age.
What’s your move?
“Everyone has a plan, until they get a smack in the face.” - Mike Tyson