electronic shelf labels (ESLs)

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Amazon: How the World’s Most Relentless Retailer Will Continue to Revolutionize Commerce by Natalie Berg, Miya Knights

3D printing, Adam Neumann (WeWork), Airbnb, Amazon Robotics, Amazon Web Services, asset light, augmented reality, Bernie Sanders, big-box store, business intelligence, cloud computing, Colonization of Mars, commoditize, computer vision, connected car, deep learning, DeepMind, digital divide, Donald Trump, Doomsday Clock, driverless car, electronic shelf labels (ESLs), Elon Musk, fulfillment center, gig economy, independent contractor, Internet of things, inventory management, invisible hand, Jeff Bezos, Kiva Systems, market fragmentation, new economy, Ocado, pattern recognition, Ponzi scheme, pre–internet, QR code, race to the bottom, random stow, recommendation engine, remote working, Salesforce, sensor fusion, sharing economy, Skype, SoftBank, Steve Bannon, sunk-cost fallacy, supply-chain management, TaskRabbit, TechCrunch disrupt, TED Talk, trade route, underbanked, urban planning, vertical integration, warehouse automation, warehouse robotics, WeWork, white picket fence, work culture

Shopkick was an early pioneer in this regard, working with US retailers Best Buy, JCPenney, Target and Macy’s from 2012 to make location-based rewards and offers available to shoppers for checking in at participating stores and scanning barcodes of specific items. At the end of 2016, Starbucks and telco retailer Sprint collaborated with Nintendo to add Pokémon Go AR ‘lures’, called PokéStops, and drive footfall by enticing players into their stores. When it comes to digitizing every instore experience, electronic shelf labels (ESLs) are not new technology. But they do typify the reason Wi-Fi should be basic hygiene in a store of the future that employs technology to build digital touchpoints into the customer experience at the ultimate ZMOT in the discovery phase of the shopping journey. Apart from the fact that a 2018 ESL study found that for 80 per cent of consumers, price has the greatest influence on buying decisions at the shelf edge, for 67 per cent of retailers the cost of manually managing labelling or signage changes related to pricing and promotions instore amounts to 1–4.99 per cent of average monthly store turnover, representing a whopping $104 billion of sales during 2017.18 Coupled with the costly inefficiencies of swapping out paper shelf-edge price labels, which include a band of store associates armed with the pre-printed labels or belt-worn label printers, the inaccuracies that are more liable to occur with old-fashioned pricing methods may also lead to breaches of regulations around the accuracy of pricing19 and product information20 if the store is located in the European Union, for instance.

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(and) 242–45 basic principles for retailers’ co-existence with Amazon 244 regulation and legislation 243 Connected Home 46 Connell, B (CEO, Target) 226 Co-op 209 see also Italy and Deliveroo delivery service 102 Costco 46, 181, 217 Cummins, M (CEO, Pointy) 172 Darvall, M (director of marketing and communications,Whistl) 215–16 Debenhams 81, 193, 194 definition(s) of showrooming 174 webrooming 168 Dhaliwal, T (MD, Iceland) 116 Diewald, G (head of Ikea US food operations) 189 digital automation and customer experience 165–85 see also ROBO and ZMOT the digital customer experience 176–83 see also subject entry location as a proxy for relevance 170–73, 173 research online, buy offline 167–70 the store as a showroom 174–76 see also definition(s) the digital customer experience (and) 176–83 see also robots digital points of purchase 179–80 the human touch, importance of 180–81 intelligent space 177–79 from self-checkout to no checkout 182–83 Dixons Carphone (Currys PC World) 188 membership scheme for use of washing machines, etc 201 drones 238 see also JD.com Prime Air 151 Dunn, A (CEO, Bonobos, 2016) 75 East, M (former M&S executive) 116 eBay 36, 216–17 and Shutl 217 e-commerce, growth of 48 Edison, T: quoted on failure 11 end of pure-play e-commerce: Amazon’s transition to bricks and mortar retailing 62–86 Amazon makes it move 77, 80–82, 78–79, 80 clicks chasing bricks – the end of online shopping 71–77 O2O: incentives for getting physical 72–75 cost of customer acquisition 74–75 shipping costs 73–74 O2O: who and how 75–77 key drivers of convergence of physical and digital retail (and) 66–71 click, collect and return 69–70 pervasive computing: shopping without stores or screens 70–71 role of mobile: frictionless, personalized experience 67–69 role of mobile: knowledge is power 66–67 next-generation retail: quest for omnichannel 63–66 electronic shelf labels (ESLs) 177–79 The Everything Store 6, 29 see also Stone, B Facebook 45, 76 Marketplace 213 Messenger purchasing bot 179 Payments 213 Fear of Missing Out (FOMO) 55 FedEx 224–25, 229 figures Amazon operating margin by segment 19 Amazon opened first checkout-free store, Amazon Go (2018) 109 Amazon’s first-ever bricks and mortar retail concept, Amazon Books, 2015 80 the flywheel: the key to Amazon’s success 7 growing complexity of fulfilling e-commerce customer orders 211 growing importance of services: Amazon net sales by business segment 18 Market Capitalization: Select US Retailers (7 June 2018) 6 new fulfilment options driving heightened complexity in retail supply chains 210 online-only is no longer enough: Amazon acquired Whole Foods Market (2017) 108 playing the long games: Amazon sales vs profits 12 top reasons why US consumers begin their product searches on Amazon 173 France (and) 2, 113 see also Auchan and Carrefour Amazon and Fauchon and Monoprix 103 ‘click and drive’ 208 Monoprix 236 frugality 9, 122 at Amazon, Mercadona and Walmart 9 Furphy, T 94 Galloway, S (NYU professor) 14 Generation Z 54 Germany (and) 2, 35, 209, 232 Amazon and Feneberg 103 H&M ‘Take Care’ service 49 Metro 191 retailer HIT Sütterlin 180 Rossman drugstore chain 236 unions call for strikes over Amazon workers’ pay rates (2013) 229 Gilboa, D (co-founder Warby Parker) 75 Gimeno, D (Chairman, El Corte Ingles) 52 Glass, D (CEO, Walmart) 50 global shipping market, worth of 230 Goldman Sachs 13 and independent factors correlating to online grocery adoption & profitability 88 Google 1, 14, 19, 45, 66, 76, 115, 154, 179 Assistant 157, 160 Checkout 213 DeepMind 159 Express 157, 160, 217 Home 153, 157 Knowledge Panel 171, 172 Maps 172, 177 Nest heating thermostat controller 155 Play 213 Search 157 See What’s In Store (SWIS) 171–72 Shopping Actions 157 What Amazon Can’t Do (WACD) 171 and ‘zero moment of truth’ (ZMOT) 171, 172 Great Recession 48, 122 Gurr, D (Amazon UK Country Manager UK, (2018) 21, 29, 44, 64 Ham, P 94 Hamleys: Moscow store mini-theme park 196 Han, L (General Manager of International Supply Chain, JD Logistics) 235 Harkaway, N 222 Herbrich, R (Amazon, director of machine learning) 150 Herrington, D 94 Home Depot 2, 157, 172 online returns instore 70 Huang, C (founder and CEO of Boxed, 2018) 71 Ikea (and) 71 acquires TaskRabbit (2018) 202 mobile AR 175 Place app 175 India 31, 116 see also Prime Video and Walmart Amazon Stella Flex service tested in 232 Instacart 89, 112–13, 119, 157, 216, 219, 224, 236 Sprouts teamed with 103 Intel and RealSense technology for ESLs (2018) 178 intelligence software: trialled by The Hershey Company, Pepsi and Walmart 178 Internet of Things (IoT) 70, 96 Italy 16, 209 see also Carrefour Co-op’s ‘store of the future’ in 191 James, S (Boots CEO) 55 Japan (and) 2, 35 Prime Video 31 Tokyo 102 Uniqlo 175–76 JD.com (and) 182–83, 230 7fresh 112, 183 BingoBox 182 Europe–China freight train (2018) 235 Logistics 235 online retail: opening 1000 stores a day in China 63 use of drones 238 John Lewis (and) see also Nickolds, P co-working space 193 customers staying overnight 187 ‘discovery room’ 200 Jones, G (CEO, Borders) 47 Kaness, M (CEO, Modcloth) 76 Kenney, M 190 Khan, L 242, 243 Kiva Systems 94, 151, 223 see also robots Kohl’s 2, 70, 81, 193, 233 Kopalle, Professor P 151 Kroger 2, 19, 46, 114–15, 208 see also case studies HomeChef 116 ‘Scan, Bag, Go’ 214–15 smart shelf solution 178 Kwon, E (former executive Amazon fashion) 127 Ladd, B 13, 115, 219 see also case studies Landry, S (VP, Amazon Prime Now) 218 the last-mile infrastructure 222–41 see also Amazon Amazon as a carrier 231–32 fulfilment by Amazon 232–33 growing IT infrastructure 226–29 last-mile labour 223–26 race for the last mile 233–36 real estate demand 229–31 remote innovation 236–38 Leahy, Sir T 62 Lebow, V 54, 122 see also articles/papers legislation (US) and calls for legislation to be rewritten and regulation of tech giants 243 Tax Act (2017) 16 Lego 195 allows building in-store 196–97 AR kiosks in stores (2010) and X app 175 Leung, L (Prime Director) 29 Levy, H P 147 Lidl 33, 51, 122, 209 Limp, D (Amazon Digital Devices SVP) 153 Liu, R (JD.com founder/chief executive) 182 lockers/collection lockers 74, 90, 112, 209–10, 233 emmasbox (Germany) 209 Lore, M (co-founder of Quidsi; CEO Walmart domestic e-commerce operations) 76–77, 97, 224, 235, 236 loyalty schemes 32–33 Ma, J (founder, Alibaba) 63 McAllister, I (Director of Alexa International) 10, 19 McBride, B (ASOS Chairman, former Amazon UK boss) 9 Mackey, J (Whole Foods Market CEO and Co-Founder) 107, 110 McDonalds McDelivery 218 in Walmart stores 189 McMillon, D (CEO, Walmart, 2017) 87, 89, 107 Macy’s 52, 69, 71, 172, 177, 193 New York store as ‘World’s Largest Store’ 50 Mahaney, M (RBC Capital Managing Director/analyst) 14, 111 Mansell, K (Chairman, President and CEO of Kohl) 233 Marks & Spencer (M&S) 49, 81, 193, 196 delivery service partnership with Gophr 102 Marseglia, M (Director, Amazon Prime) 101 Mastandrea, M 94 Mathrani, S (CEO of GGP) 49 Mehta, A (CEO, Instacart) 113 MercadoLibre as Latin America’s answer to eBay 36 Metrick, M (president, Saks Fifth Avenue) 190 Microsoft 19, 115 Bing 173 checkout-less store concept 182 Millennials 122, 144, 157 Miller, B (Miller Value Partners) 13 Millerberg, S (managing partner, One Click Retail) 158 Misener, P (Amazon VP for Global Innovation) 10 Mochet, J P (CEO of convenience banners, Casino Group, 2018) 192 Morrisons 102, 209, 217, 236 Mothercare 195, 196 Motley Fool 15 see also Bowman, J Mountz, M 94 Mulligan, J (chief operating officer, Target) 225–26 Musk, E 194 near-field communications (NFC) technology 178–79 Newemann, A (CEO WeWork) 192 Next 188 and pizza and prosecco bars instore 190 Nickolds, P (MD, John Lewis, 2017) 64 Nike 103 selling on Amazon 127 Nordstrom, E (Co-President, Nordstrom, 2017) 45 Nordstrom 135, 193 Local (launched 2017) 199 Ocado 19, 112–15, 135 see also Clarke, P and Steiner, T and Alexa 157 deal with Casino Groupe (2017) 113 Smart Platform 113 Olsavsky, B (Amazon CFO, 2018) 124 One Click Retail 90, 123, 129, 155, 158 online to offline (O2O) 63 capabilities 216 incentives for getting physical 72–75 who and how 75–77 Ovide, S (Bloomberg) 47, 119, 154 Park, D (co-founder, Tuft & Needle) 81 PayPal 45, 137, 213–14 Peapod 87 see also Bienkowski, C and ‘Ask Peapod’ skill for Alexa 156–58 Penner, G (Walmart Chairman, 2017) 77 Perrine, A (Amazon General Manager, 2018) 29 polls see reports Price, Lord M (former Waitrose MD) 51 Prime (and) 11, 14, 20, 92, 112, 121, 137, 153, 174, 210, 215, 217, 218, 222, 227 see also Prime 2.0; Prime Air; Prime ecosystem and Prime Now AmazonFresh 34 AmazonFresh Pickup 37 Day 32, 136, 147 Fresh Add-on 237 members 2 Pantry 34, 100–101, 226, 227 Video 30–31 Wardrobe 128, 226 Prime 2.0 (and) 38–40 ‘Invent and Simplify’ Leadership Principle 143 looking to new demographics for growth 39 more bells and whistles 38 more fee hikes 40 Prime Wardrobe (2017) 38–39 Prime Air 151 development centres U~S, Austria, France, Israel 238 first autonomous drone delivery 238 Prime ecosystem: redefining loyalty for today’s modern shopper (and) 28–40 advantages for Amazon 33–35 going global 35–36, 35–36 integrating Prime at point of sale 38 Prime 2.0 38–40 see also subject entry Prime as loyalty programme?

The Heart of Business: Leadership Principles for the Next Era of Capitalism by Hubert Joly

"Friedman doctrine" OR "shareholder theory", "World Economic Forum" Davos, behavioural economics, big-box store, Blue Ocean Strategy, call centre, carbon footprint, Clayton Christensen, clean water, cognitive dissonance, commoditize, company town, coronavirus, corporate governance, corporate social responsibility, COVID-19, David Brooks, do well by doing good, electronic shelf labels (ESLs), fear of failure, global pandemic, Greta Thunberg, imposter syndrome, iterative process, Jeff Bezos, lateral thinking, lockdown, long term incentive plan, Marc Benioff, meta-analysis, old-boy network, pension reform, performance metric, popular capitalism, pre–internet, race to the bottom, remote working, Results Only Work Environment, risk/return, Salesforce, scientific management, shareholder value, Silicon Valley, social distancing, Social Responsibility of Business Is to Increase Its Profits, supply-chain management, TED Talk, Tim Cook: Apple, young professional, zero-sum game

Call it a fourth revolution or, like General Stanley McChrystal, a VUCA world: volatile, unpredictable, complex, and ambiguous.14 Because of fast-changing technology and evolving social norms, agility, innovation, collaboration, and speed have become more valuable than standardized processes and long-term planning. As a result, the nature of work has changed. The health-damaging physical strain, the Charlie Chaplin kind of mind-numbing repetition, the forklifts running over you, all are declining, as routine tasks get automated. Take my old supermarket summer job. It is being replaced by electronic shelf labels, which get updated at the flick of a finger on a central computer. Even in manufacturing, farming, and other traditionally strenuous occupations, work is becoming less physically demanding. Economies increasingly tilt toward services and more creative work. Two-thirds of all jobs in the US economy now require post-secondary education—up from just 28 percent in 1973—with leadership, communications, and analysis the most valued competencies.15 Yet although the nature of work has evolved rapidly, our view of work remains stubbornly unchanged.