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The CART Blog has moved!
We’ve moved! Please find the CART Blog HERE
What’s Your Story?
If your company provides solutions, particularly technology solutions, to the retail industry, selling is a mandatory activity and in many younger companies that duty often falls to the founder, CEO, or other key executive. The CART team has worked with hundreds of young tech companies and we’ve seen some things that work and we’ve seen many things that don’t work as well so thought we’d share some lessons with you. Many technology company people are incredibly smart when it comes to the tech, but unprepared when it comes to the selling of it.
First, sell your story, not the technology. It takes a lot to found a company or to join a young company at an early stage - it’s not an easy thing. So chances are you’re pretty passionate about what capability you’ve developed or what your company is doing. When you are talking with a prospective customer, let that passion come through. Prospects always hear about features and functions, why this widget is better than that widget. What they don’t always hear is why you are doing what you do. Tell a story that highlights the problem you’re trying to solve - one way to do that is to speak naturally, like you’re talking to a friend or acquaintance. Then tap that same passion when you talk with a prospective customer.
How do you do what you do? This still is not the time to talk about your specific product or solution. What you want to focus on next is how your solution works, how it does what it does. Are you using AI and machine learning to help solve a problem? Does AI and ML power enhanced machine vision enabling your capability to do something special? Focusing on the how is where you want to separate your capabilities from competitors. The how is where your magic happens.
Lastly, and finally, you can speak to the specific product or solution your company is selling. This is where you can talk about all the cool features and functions your capability provides. But here’s the thing: If you’ve done a great job with telling your story about why you’re doing what you do and you’ve done a good job talking about how your solution does what it does, you’ve probably got the sale pretty well made before you even get to the specific product.
So now you’ve got your presentation flow down and its time to practice. For some people, actually writing out a script can help you be succinct in what you’re saying. For other people, creating a list of bullet points is enough to guide them through a presentation. Do whatever works for you but do think about what you’re going to say ahead of time and practice it.
Lastly, be engaging. Make eye contact. Don’t just read a sales presentation - engage and talk with the people you’re with. And absolutely, never ever, turn your back to the people you are talking to. It’s unprofessional to say the least. Seems like a no-brainer and yet we see people do this all the time.
Creating and building a great technology is only half the battle. Selling and positioning your new capability is where the battle is won.
Gary Hawkins, Founder and CEO of CART
Three Imperatives for Retail in the Next Three Years
Think about major developments in the grocery retail industry between 1940 and 2015, and by major I’m talking about advances that are truly transformational in nature.
When I went through this exercise I came up with only three: The development of self-shopping, the development of UPC barcode scanning, and the development of capturing customer identified transaction data via loyalty programs.
Now consider major developments in just the past three years: Amazon Go self-shopping, automated distribution centers, self-driving vehicles, robots in store, robotic food preparation, drone deliveries, artificial intelligence everywhere, voice-based shopping, and more.
That explosive growth in just the past few years makes it obvious that we’ve hit the inflection point on the exponential growth curve of technology and that change is only going to happen faster and be increasingly noticeable.
Now alongside this explosive growth of technology put recent forecasts of store closings: Coresight Research states that 5,864 stores closed in 2018 and projects 12,000 store closing this year (2019). Tom Blischok, a long-time industry observer, estimates 30% of traditional supermarket chains will be gone by 2025, five short years from now. And UBS Securities projects a whopping 75,000 stores will close across all retail sectors by 2026 if eCommerce continues to grow from today’s 16% to 25%.
A crisis of disruption is bearing down on grocery retail, driven by fast-changing consumer expectations fueled by new tech-driven capabilities. How are traditional brick & mortar retailers to keep up?
I believe traditional retailers that survive the next three years will have increased their odds of longer-term survival. I believe there are three things - imperatives - that retailers need to focus on in the next three years:
Innovation as a Process: Too many retailers treat new capabilities as one-off projects, not understanding that transformative capabilities are flowing into retail at an ever-faster pace. In this world innovation needs to be viewed - and operationalized - as a process. Something very much at odds with the slow-moving historical change. CART’s Innovation Program is designed to help regional and national retailers drive discovery and awareness of meaningful innovation as part of a process.
Transform into a Nimble Organization: Though many retailers are moving faster than they have historically it is still not fast enough to keep pace with Amazon and the flood of new capabilities transforming retail. Traditional retail organizations need to embrace innovation, become more nimble, and evaluate, pilot, and deploy appropriate capabilities faster.
Prepare for the Age of ‘i’: As I wrote about in my latest book, Retail in the Age of ‘i’, the world is increasingly tailored to each of us individually and there are significant implications for retailers. Consumers today expect contextual relevancy, not only online but increasingly in the physical world, and retailers need to deliver that. Delivering a true customer-first shopping experience requires an overhaul of the systems, processes, and practices that have become institutionalized in the product-first world of retail.
Gary Hawkins, Founder and CEO of CART
CART Weekly Report 11/7/19
THREE IMPERATIVES FOR RETAIL IN THE NEXT THREE YEARS | Gary Hawkins
3 WAYS INDEPENDENT GROCERS CAN COMPETE WITH THE ‘BIG GUYS’| Guest Blog by Bobby Brannigan, Founder and CEO of Mercato
KNOW A REMARKABLE INDEPENDENT? NOMINATE THEM TODAY!
WBG and CART, along with presenting sponsors, will host a celebratory reception and awards presentation ceremony for its 2020 Remarkable Independent award winners at the National Grocers Association (NGA) Show, which will be held Feb. 23-26 at the San Diego Convention Center.
NATIONAL GROCERS ASSOCIATION - NGASHOW 2020: Register to Exhibit and/or to attend - February 23rd, 2019 - February 26th, 2019, San Diego, CA
Apply to Speak at the CART Event at NGAShow 2020
Apply for a booth in the Innovation Pavilion at NGAShow 2020
Join the INNOVATION PROGRAM -New Events to be Announced Soon!
Notify me about upcoming and new events
EMERGING TECHNOLOGIES MEET HEALTH AND WELLNESS | Hosted by Kevin Coupe, MorningNewsBeat’s “Content Guy”
SPECS SHOW 2020 - The ForeFront of Physical Retail - March 15-17, 2020, Gaylord Texan, Dallas
Innovation, individualization and immersion are all shaping the future of retail. Savvy retailers are embracing more immersive shopping experiences, big data intelligence, and deep operations and systems integration to continue innovating their store designs in this new age of “i.”
WHAT WE HAVE TO SAY:
THE CART RETAIL TOMORROW INNOVATION PROGRAM™ IS UNLIKE ANYTHING YOU’VE SEEN IN THE INDUSTRY | The CART Team
GET ON THE INSIDE. MEMBERSHIP HAS BENEFITS.
Become part of the epicenter of retail innovation exclusive network. The place where retail decision makers and solution providers come together to advance retail into the future.
FOR RETAILERS>> Proven programs to advance your business
FOR SOLUTIONS>> Your growth engine into retail
✔️Blogs ✔️ Webinars ✔️Newsletter ✔️Accelerator ✔️Pitch Events ✔️Solution Spotlights ✔️Innovation Programs ✔️Educational Content
LEARN MORE>>
VIEW ALL SOLUTIONS HERE
CONTACT US
TELL ME HOW TO GET MY SOLUTION ADDED TO CART
Get the CART Weekly Report delivered to your inbox. Sign up here.
CART Weekly Report 10/31/19
KNOW A REMARKABLE INDEPENDENT? NOMINATE THEM TODAY!
WBG and CART, along with presenting sponsors, will host a celebratory reception and awards presentation ceremony for its 2020 Remarkable Independent award winners at the National Grocers Association (NGA) Show, which will be held Feb. 23-26 at the San Diego Convention Center.
NATIONAL GROCERS ASSOCIATION - NGASHOW 2020: Register to Exhibit and/or to attend - February 23rd, 2019 - February 26th, 2019, San Diego, CA
Apply to Speak at the CART Event at NGAShow 2020
More CART RETAIL TOMORROW INNOVATION PROGRAM™ Events to be Announced Soon!
Notify me about upcoming and new events
EMERGING TECHNOLOGIES MEET HEALTH AND WELLNESS | Hosted by Kevin Coupe, MorningNewsBeat’s “Content Guy”
SPECS SHOW 2020 - The ForeFront of Physical Retail - March 15-17, 2020, Gaylord Texan, Dallas
Innovation, individualization and immersion are all shaping the future of retail. Savvy retailers are embracing more immersive shopping experiences, big data intelligence, and deep operations and systems integration to continue innovating their store designs in this new age of “i.”
WHAT WE HAVE TO SAY:
THE PROMISE AND PERIL OF DATA FOR RETAILERS AND SOLUTION PROVIDERS | Gary Hawkins
THE CART RETAIL TOMORROW INNOVATION PROGRAM™ IS UNLIKE ANYTHING YOU’VE SEEN IN THE INDUSTRY | The CART Team
GET ON THE INSIDE. MEMBERSHIP HAS BENEFITS.
Become part of the epicenter of retail innovation exclusive network. The place where retail decision makers and solution providers come together to advance retail into the future.
FOR RETAILERS>> Proven programs to advance your business
FOR SOLUTIONS>> Your growth engine into retail
✔️Blogs ✔️ Webinars ✔️Newsletter ✔️Accelerator ✔️Pitch Events ✔️Solution Spotlights ✔️Innovation Programs ✔️Educational Content
LEARN MORE>>
VIEW ALL SOLUTIONS HERE
CONTACT US
TELL ME HOW TO GET MY SOLUTION ADDED TO CART
Get the CART Weekly Report delivered to your inbox. Sign up here.
Quote of the Week: If you can dream it, you can do it ~ Walt Disney
CART Weekly Report 10/24/19
GNC LAUNCHES NEW PERSONALIZED DAILY VITAMIN PACKS BASED ON INDIVIDUAL HEALTH NEEDS, LIFESTYLE GOALS AND EVEN DNA; DELIVERED DIRECTLY TO YOUR DOOR | Cison PR Newswire
Gary’s Take: My latest book, Retail in the Age of ‘I’, is all about the world - both digital and physical - becoming increasingly tailored to each of us individually. GNC, the vitamin and supplements retailer, has just launched new personalized daily vitamin packs tailored to each individual customer. "Based on an individual's age, gender and personal and family health history, GNC will create a science-backed wellness plan curated with the industry's leading vitamins and supplements to aid consumers in their quest for healthy living.” The GNC4U service can also ingest DNA information, either from a GNC DNA test kit or other source.
This is just one more example of how in the Age of ‘I', products are becoming increasingly customized to the individual. Brand manufacturers and retailers should both be thinking about how their products, services, and experiences can be tailored to each customer.
THEFT IS A MAJOR RISK FOR RETAILERS USING SCAN AND GO, EXPERT SAYS | RetailDive
Gary’s Take: In a surprise to almost no one, a study published recently found that theft related to scan-and-go self-shopping increases as sales done via scan-and-go apps increases. While not all loss is intentional theft - some comes from people simply forgetting to scan and item or other issues - the bottom line is that shrink does increase. Many retailers using scan-and-go technology perform random bag checks or even verify each customer order. Since scan-and-go apps first came on the scene I have seen this capability as simply a stepping stone to a full Amazon Go-like fully automated checkout system or other process that speeds checkout and reduces friction. Loss related to scan-and-go applications, intentional or not, can quickly add up, putting pressure on retailer’s already thin margins. Even more, all the retailer is doing is shifting the scanning and payment process from a cashier to the customer, not really providing any extra value to the shopper. Not a winning proposition in the long run.
OUTBACK STEAKHOUSE WANTS TO KNOW IF A.I. TECH CAN HELP IMPROVE CUSTOMER SERVICE | CNBC
Gary’s Take: The use of AI powered computer vision analytics is moving from the store into restaurants and other settings. Outback Steakhouse is the latest to install cameras in its entrance and lobby areas to measure customer wait time, the number of customers leaving without being seated, and more. Outback is focused on leveraging the technology to improve the customer experience.
Cameras are showing up everywhere and these kinds of analytics will increasingly be used to digitize behavior in a physical space with a goal of gaining insight to customer behavior and optimizing sales or other activity.
DOES TARGET NEED TO ADDRESS ITS ASSOCIATE MORALE PROBLEM? | Retail Wire
Sterling’s Take: Team morale is everything and it translates directly into customer experience in store. If the employees aren’t happy, customers will be less happy over time. Of course Target has to make smart business decisions, but with the cuts store managers should be granted some autonomy to take care of individual employees as needed to keep morale high. Communication is the most important thing here so everyone on the team feels part of the conversation, not at the effects of it.
CAN b8ta DO FOR FASHION WHAT IT’S DONE FOR CONSUMER TECH? | Retail Wire
Sterling’s Take: There's plenty of room in the fashion and lifestyle space to innovate the stores. b8ta definitely has a track record to do these kinds of things; they did for consumer electronics what Sephora did for makeup. But I do think lifestyle and fashion is a little more difficult as it doesn't naturally lend itself to interaction in a new way (most clothing stores let you touch, feel and try on the clothes). The banner will create interest from many; however, service in the store will be the key to making it successful.
WHAT WE HAVE TO SAY:
THE PROMISE AND PERIL OF DATA FOR RETAILERS AND SOLUTION PROVIDERS | Gary Hawkins
THE CART RETAIL TOMORROW INNOVATION PROGRAM™ IS UNLIKE ANYTHING YOU’VE SEEN IN THE INDUSTRY | The CART Team
MAKING LOYALTY PROGRAMS WORK HARDER | Winsight Grocery Business
HAPPENINGS:
UPCOMING RETAIL TOMORROW INNOVATION DAYS/EVENTS
NATIONAL GROCERS ASSOCIATION - NGASHOW 2020: Register to Exhibit and/or to attend - February 23rd, 2019 - February 26th, 2019, San Diego, CA
Apply to Speak at the CART Event at NGAShow 2020
CART RETAIL TOMORROW INNOVATION PROGRAMS™
More CART RETAIL TOMORROW INNOVATION PROGRAM™ Events to be Announced Soon!
Notify me about upcoming and new events
SPECS SHOW 2020 - The ForeFront of Physical Retail - March 15-17, 2020, Gaylord Texan, Dallas
Innovation, individualization and immersion are all shaping the future of retail. Savvy retailers are embracing more immersive shopping experiences, big data intelligence, and deep operations and systems integration to continue innovating their store designs in this new age of “i.”
GET ON THE INSIDE. MEMBERSHIP HAS BENEFITS.
Become part of the epicenter of retail innovation exclusive network. The place where retail decision makers and solution providers come together to advance retail into the future.
FOR RETAILERS>> Proven programs to advance your business
FOR SOLUTIONS>> Your growth engine into retail
✔️Blogs ✔️ Webinars ✔️Newsletter ✔️Accelerator ✔️Pitch Events ✔️Solution Spotlights ✔️Innovation Programs ✔️Educational Content
LEARN MORE>>
VIEW ALL SOLUTIONS HERE
CONTACT US
TELL ME HOW TO GET MY SOLUTION ADDED TO CART
Get the CART Weekly Report delivered to your inbox. Sign up here.
Quote of the Week: What is now proved was once only imagined. ~William Blake
The Promise and Peril of Data for Retailers and Solution Providers
Data powers the retail industry, especially in today’s digital age. From in-store analytics to optimized-everything, and from marketing personalization to product customization, big data is the fuel in an age of tech-enabled innovation. Rarely do we see a few weeks go by that some new solution enters the industry that either creates a new data stream or feeds off existing data.
But retailers’ resources and skills have not kept pace with the growth of new data and new solutions. It is surprising how often I encounter retailers - even multi-billion dollar revenue retailers - who do not have the skill sets to make effective use of systems and capabilities that they’ve purchased and put in place.
Sometimes, retailers look to CPG brand manufacturers to purchase data, either as part of a broader initiative in which the brand is using the data to give back to the retailer insights & analytics, or other times as simply a new revenue stream. Selling data is not necessarily always a good thing: often there is some kind of quid pro quo with the brand expecting something in return that may or may not align with the retailer’s best interests.
Solution providers have an opportunity to play a pivotal role here. It’s often not enough to just sell some new innovative capability to the retailer; true success comes from helping the retailer be successful with the new solution. I think it is incumbent upon both the solution seller and the retailer buyer to have a frank discussion around what skill sets and resources are required to make use of a new capability and identify if the retailer has those skills or if there is a gap. In the case of a gap, the solution provider has an opportunity to help the retailer train people or hire new people with the requisite skills.
Now set this entire discussion in the context of exponential change where the development of new capabilities is increasing at a faster and faster pace every day. The need to constantly upgrade skill sets and train and educate employees to take advantage of new capabilities is paramount. The penalty for failing to do this grows by the day. It is incumbent on solution providers to make new technology and new capabilities as easy to implement and use as possible along with helping the retailer what’s required to be successful.
Gary Hawkins, Founder and CEO of CART Leading customer-focused retail innovation
CART Weekly Report 10/17/19
COMING SOON: A.I.-POWERED PERSONALIZED RESTAURANT MENUS | OZY
Gary’s Take: Reinforcing the growing convergence of the massive food and healthcare industries, a growing number of restaurants are personalizing their menu items to the individual customer. These restaurants recognize that a growing number of people have food allergies - an estimated 32 million people in the U.S. alone - or have nutritionally sensitive health conditions (60% of Americans have one or more chronic health conditions) or have strong diet and food preferences. This personalization is happening across restaurants of all formats, from quick serve like McDonalds to more formal establishments. As I wrote about in my latest book, Retail in the Age of ‘I’, the world is becoming increasingly tailored to each of us individually and this trend of personalizing restaurant prepared meals is just the latest sign that this movement is expanding across the digital and physical worlds.
WILL CUSTOMERS GIVE WALMART THE KEYS TO THEIR HOME? | Retail Wire
Sterling’s Take: Privacy is culture and it changes over time. 15 years ago it would be ludicrous to post all our family pictures and trips online; now it’s almost standard. I expect we’ll see that same thing over time for these kinds of services. Is the value exchange worthwhile? Consumers will increasingly answer: yes.
PERSONALIZED PROMOS ADD UP TO A ‘WIN-WIN’ FOR RETAILRS AND CONSUMERS | Retail Wire
Sterling’s Take: Personalized pricing is inevitable. We see it in our credit card rates, our airline tickets and increasingly we see it as a standard in retail. Done right, not only do the economics work, but it's a better customer experience all around.
REI OPENS OUTDOOR ADVENTURE GATEWAY CONCEPT | Retail Wire
Sterling’s Take: This is a great idea! And the next step in experiential retail. Not something contrived to create an “experience” but a real place consumers can launch their experiences from. It adds a lot of value for consumers and I’m willing to bet this concept will be successful for REI.
WHAT WE HAVE TO SAY:
THE CART RETAIL TOMORROW INNOVATION PROGRAM™ IS UNLIKE ANYTHING YOU’VE SEEN IN THE INDUSTRY | The CART Team
MAKING LOYALTY PROGRAMS WORK HARDER | Winsight Grocery Business
RETAIL AND CUSTOMER EXPERIENCE - GLOBAL TRENDS | Thinking Heads
HAPPENINGS:
UPCOMING RETAIL TOMORROW INNOVATION DAYS/EVENTS
INNOVATION PROGRAM AT HY-VEE HEADQUARTERS - Des Moines, Iowa | November 6-7, 2019
NATIONAL GROCERS ASSOCIATION - NGASHOW 2020: Register to Exhibit and/or to attend - February 23rd, 2019 - February 26th, 2019, San Diego, CA
More CART RETAIL TOMORROW INNOVATION PROGRAM™ Events to be Announced Soon! Notify me about upcoming and new events
THE RETAIL REVOLUTION at PORTLAND STATE UNIVERSITY’S CENTER FOR RETAIL LEADERSHIP - October 24, 2019, 12:30-5:00pm, Portland, Oregon
SPECS SHOW 2020 - The ForeFront of Physical Retail - March 15-17, 2020, Gaylord Texan, Dallas
Innovation, individualization and immersion are all shaping the future of retail. Savvy retailers are embracing more immersive shopping experiences, big data intelligence, and deep operations and systems integration to continue innovating their store designs in this new age of “i.”
GET ON THE INSIDE. MEMBERSHIP HAS BENEFITS.
Become part of the epicenter of retail innovation exclusive network. The place where retail decision makers and solution providers come together to advance retail into the future.
FOR RETAILERS>> Proven programs to advance your business
FOR SOLUTIONS>> Your growth engine into retail
✔️Blogs ✔️ Webinars ✔️Newsletter ✔️Accelerator ✔️Pitch Events ✔️Solution Spotlights ✔️Innovation Programs ✔️Educational Content
LEARN MORE>>
VIEW ALL SOLUTIONS HERE
CONTACT US
TELL ME HOW TO GET MY SOLUTION ADDED TO CART
Get the CART Weekly Report delivered to your inbox. Sign up here.
Quote of the Week: The only way you survive is you continuously transform into something else. It’s this idea of continuous transformation that makes you an innovation company. ~Ginni Rometty
