Roger Swannell

Tag: innovation (page 1 of 3)

Dessert MK: innovating in the mobile dessert space

Dessert MK is an interesting take on ice cream vans. Whereas most ice cream vans sell the usual branded ice lollies, Dessert MK offers their own range of ice cream creations.

The ice creams, whilst very tasty and luxurious looking, are all simple and cheap to create, using ice cream from a whippy machine, flavoured sauces and a selection of chocolates and sweets, meaning that the margin on one £5 tray is probably around 400%, far greater than the few percent of margin a usual ice cream would make from selling branded ice lollies. 

Marketed exclusively on Facebook and relying on word of mouth to build a following, they let fans know where they’ll be that evening on Facebook. This completely different approach to the usual ice cream van approach of turning up where they hope there will be people who want an ice cream when they here the music, Dessert MK guarantees that their customers come to them, wherever they go. 

Dessert MK is disrupting the product range and the marketing approach, it’s entrepreneurial Ice cream. 

The not-so distant future of digital retail innovations

After a few recent discussions around what the future of retail might look like, here’s some future gazing of my own.

Better data sharing leads to greater personalisation

Over the last few years retailers have been working on getting their customer data out of its channel silos to attempt to create a single view of the customer. In the future they will realise that their data is far more valuable if it’s blended with other retailers shopping behaviour data, location tracking data, market research, etc., etc. Big data becomes Huge Data when all of these massive data sets can be joined together and analysed to reach an understanding of an individual to the extent where their needs, motivations and behaviours can be predicted with a practically applicable degree of accuracy.

How might huge data and hyper-personalisation affect the customer?

Personalisation will grow exponentially with every single little detail of every interaction with a business being tailored to each individual customer. The retailers will know what a customer needs, when they need it, and who they are most likely to buy if from before the customer does, and their marketing will lead customers along the happy path to purchase so smoothly they’ll hardly even notice they clicked the buy button. Shopping will become so deeply embedded into life that the idea of ‘going shopping’ will be like going out to the well to get a bucket of water. We don’t do that anymore, we just turn on the tap when we need water and it’s there.

Personalisation won’t just be for the customer, it will be for the business too. It will become a means of connecting with their customers. It won’t be ‘your order is processing’, it will be ‘Alfred is picking your order right now, would you like to watch a live video?’

Artificial intelligence will revolutionise anything that requires thinking

Customer service, merchandising, logistics, finance, in fact every aspect of business can and will be affected by Artificial Intelligence. For a time, AI will be a competitive advantage for those first-mover companies that figure out how to implement it effectively, but the speed of change means that it won’t be long until even the smallest business is powered by AI as much as it’s powered by electricity.

How might AI affect the customer?

The use of AI to take over many of the unpleasant, dangerous, and boring jobs the humans currently do is driving the argument for universal basic income, which would have a massive impact on spending habits in the future.

But even before we get to live in a society where robots do our work for us AI will have a massive, and for the most part, unseen impact on the life of the shopper. Artificial intelligent customer service systems will deal with every customer contact in real time, even being aware of issues before the customer is and only contacting them to tell them that the issue has been resolved. AI customer service will be able to make commercial sound decisions about things like how much discount to offer an individual customer based on their predicted lifetime value and demonstrate with absolute certainty the value to the business of good customer service. AI, and even more so AI utilising huge amounts of data from lots of sources, will make vastly better decisions about all aspects of business because it will understand the far reaching impact a decision will have in a complex system. It will be able to balance the sales that result from stock availability, the costs of distributing the stock, staff availability, customer behaviour patterns, weather, local events that might affect traffic to a shop, etc., etc., to maximize the cost-effectiveness of the business.

Connecting identity to payment will streamline checkout

Traditionally, retail has always regarded ‘who the customer is’ as completely separate from ‘how the customer pays’. This will change as huge data personalisation and AI progresses and customer expectations become more about having a streamlined end-to-end shopping experience that optimises the payment process.

How might streamlining checkout affect the customer?

Clothing shops position their tills to the sides to encourage browsing behaviour, whilst supermarkets line up their tills at the front of the store to make checking out as efficient as possible, and both still struggle to manage queues of people try to give them money. In stores future checkout innovations might be pin entry devices built into baskets that scan items as the customer puts them into the basket, and then the customer simply enters their payment card pin to checkout, or customers having an app on their phone that allows them to walk out the door of the shop with a bag full of items knowing the app will charge their bank account (think the next evolution of Amazon Go).

Online, taking payment could be done using behavioural logic to make educated guesses about whether you are who you say you are. So if you’re making a purchase using a device registered to you, from a location you’ve been to lots of times before, the item is in your size, and it’s being delivered to your work address then the payment system would use statistical modeling to decide if you are who you say you are and then not need you to enter your payment card details in order to complete your purchase.

The decentralization of manufacturing changes economic and distribution models

The use of low cost 3D printing will drive manufacturing into local hubs that can produce products that previously had to be mass produced in the Far East. This will have a massive effect on local economies, the environment, and on the speed at which retailers can launch new products and resupply.

How might 3D printing affect the customer?

Customers will find themselves facing a massive increase in the number of items available and those products will be increasingly made to measure for each individual. Clothing won’t be made in size small, medium and large, it will be made to the measurements the customer specifies. Any and every design of wallpaper, bedding, and wrapping paper will be available. Every possible colour of car, laptop, and inflatable drinks holder will be available. People will purchase products unique to themselves, and retailers will become even more about inspiration and trend-setting to encourage people to purchase with them.

The internet everywhere leads to a mindset of connectivity

Our device-oriented thinking will be replaced with an acceptance that the internet connects all aspects of our lives together. Rather than thinking of our phones as one type of device for doing a certain kind of thing on the internet, IoT devices for a another use, wearables for doing something different, we’ll live in a world where all of these devices will be instantly and always connected and sharing data so that your fridge knows when your going on a holiday that you booked on your phone and adjusts your grocery shopping list accordingly.

How might a mindset of connectivity affect the customer?

This connective mindset will be empowered by the technological changes that in turns drives a behavioural change with people becoming more integrated with the digital systems in their lives, including the heating of their homes responding to the weather, the sat nav in their cars telling them to reduce their speed to allow traffic jams ahead to clear, and retailers having more data about people’s lives to power their AI and personalisation. The internet everywhere will change people’s lives without them really realising it.

This A to Z of Creativity and Innovation Techniques, provides an introduction to a range of tools and techniques for both idea generation (Creativity) and converting those ideas into reality (Innovation). Like most tools these techniques all have their good and bad points. I like to think of these creativity and innovation techniques as tools in a toolbox in much the same way as my toolbox at home for DIY. It has a saw, spanner, hammer, knife and all sorts of other things in it, they are all very useful, but you have to pick the right tool (creativity / Innovation technique) for each job.

https://www.mycoted.com/Category:Creativity_Techniques

January’s Reading List

The Charity Treasurer’s Handbook

The Charity Treasurer's HandbookThe rules on finance within charity law can be on one of the biggest challenges for anyone holding responsibility in a charitable organisation. This handbook gives you a vital overview of the key principles for virtually all the main issues in charity accounting and finance in a short, and clear format.

 

 

 

 

Innovation as Usual: How to Help Your People Bring Great Ideas to Life

Innovation as Usual: How to Help Your People Bring Great Ideas to LifeMost organizations approach innovation as if it were a sideline activity. Every so often employees are sent to “Brainstorm Island”: an off-site replete with trendy lectures, creative workshops, and overenthusiastic facilitators. But once they return, it’s back to business as usual.

Innovation experts Paddy Miller and Thomas Wedell-Wedellsborg suggest a better approach. They recommend that leaders at all levels become “innovation architects,” creating an ecosystem in which people engage in key innovation behaviors as part of their daily work.

In short, this book is about getting to a state of “innovation as usual,” where regular employees—in jobs like finance, marketing, sales, or operations—make innovation happen in a way that’s both systemic and sustainable.

The Happiness Project

The Happiness ProjectGretchen Rubin had an epiphany one rainy afternoon in the unlikeliest of places: a city bus. “The days are long, but the years are short,” she realized. “Time is passing, and I’m not focusing enough on the things that really matter.” In that moment, she decided to dedicate a year to her happiness project.

In this lively and compelling account—now updated with new material by the author—Rubin chronicles her adventures during the twelve months she spent test-driving the wisdom of the ages, current scientific research, and lessons from popular culture about how to be happier. Among other things, she found that novelty and challenge are powerful sources of happiness; that money can help buy happiness, when spent wisely; that outer order contributes to inner calm; and that the very smallest of changes can make the biggest difference.

The Chimp Paradox: The Acclaimed Mind Management Programme to Help You Achieve Success, Confidence and Happiness

The Chimp Paradox: The Acclaimed Mind Management Programme to Help You Achieve Success, Confidence and HappinessThe Chimp Paradox is an incredibly powerful mind management model that can help you become a happy, confident, healthier and more successful person. Prof Steve Peters explains the struggle that takes place within your mind and then shows how to apply this understanding to every area of your life so you can:

– Recognise how your mind is working
– Understand and manage your emotions and thoughts
– Manage yourself and become the person you would like to be

The Chimp Mind Management Model is based on scientific facts and principles, which have been simplified into a workable model for easy use. It will help you to develop yourself and give you the skills, for example, to remove anxiety, have confidence and choose your emotions. The book will do this by giving you an understanding of the way in which your mind works and how you can manage it. It will also help you to identify what is holding you back or preventing you from having a happier and more successful life.

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