MMN in the Retail Hall of Fame
Congratulations to our chairman Sir Stuart Rose who was inaugurated into the World Retail Hall of Fame at the World Retail Congress this week. He said: ‘I have thoroughly enjoyed and continue to enjoy in my roles with the businesses I am now involved with.’
And at the Retail Bulletin Mobile Summit 2012
This week our Chief Operations Officer and IT Director Jeremy Barden appeared on the mobile payments panel of the Retail Bulletin Mobile Summit 2012 alongside representative from Waitrose, ASDA, Carphone Warehouse and the Javelin Group. Lively discussion ensued around the subject of customer engagement and cost-effective mobile retail strategies. More information can be found here.
Making payment personal
Starbucks have announced that they’ll sign to Passbook by the end of September. Since they’ve got a store card already, it’s a no-brainer and will give them broader scale distribution. After investing $25m into Square, Starbucks are in a mode of experimenting with m-commerce. Now Square have raised $200 mil, they’re valued at $3.25 bn and have predicted that they’ll process $8bn of payments this year. However Visa inc will process $6.3 trillion payments this year and have a market value of $90 billion. Square evidently have a long way to go and Jack Dorsey needs to get mass adoption from big retailers if he’s going to maintain $3.25bn valuation.
In March, Square appointed ex PayPal VP Alyssa Cutright as their VP of International. The UK is an obvious target and we’d love to work with them. We’re thinking along similar lines by using data to recreate the intimacy of a corner shop. Similarly, Square creates the same feel by pulling up a photo of the customer and their regular purchase on-screen when they arrive at the counter.
The future of multichannel retail
CBRE are the biggest property in advisor in the world, so we shouldn’t be surprised that they’ve reported that multichannel will complement rather than compete with bricks and mortar retail. The Guardian reports that online retail sales increased to 17% of the retail market or £50bn last year. It’s dangerous to downplay the growth in online commerce, because it gives retailers justification for not acting.
Monetizing mobile experiences
We had the pleasure to meet Jess Butcher from Blippar last week. Blippar have a great vision about the way people are going to search and access content in future. Rather than describing themselves as an augmented reality provider, they’re a company which patch content into where you are, what you see and what you do. Like us Blippar want to expand the way mobile can be used as a bridge between online and offline with an experience which is compelling to the consumer.
The arrival of 4G in the UK will obviously benefit the consistency of experience that Blippar and augmented reality specialists like Aurasma can offer. Last week one of our associates saw a demo of the EE 4G service – it worked first time and was faster than home broadband; evidently exciting stuff for the industry as a whole.
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