Poptech Radio + 4-Tell Discuss Future of Retail
4-Tell’s CEO, Tom O’Keefe, sits down with the host of Popular Technology Radio (Jason Masters) to share his predictions for the future of in-store and online retail including Amazon, AR + more!
[00:03:30] Triggered Ads and Amazon Go
Has Amazon ever suggested for you to buy an item that you literally just purchased? 4-Tell President and CEO, Tom O’Keefe, explains that while Amazon is best in class at using data to merchandise, there are still some pitfalls the technology gets caught up in. Triggered emails and ads are tools Amazon employ to make suggestions based on what you’ve looked at. If you navigate away from the site before making a purchase, an email is automatically sent to remind you about it, even if you come back and purchase it later. We also get a snapshot of the convergence of the on and offline customer experience coming in the future, with projects like Amazon Go and Wal-Mart’s similar endeavor. Tune in for more.
[00:12:10] Augmented Reality Shopping
Wouldn’t it be great if we could just hold up our phones and be shown exactly where our favorite ingredients are? Well, the technology exists, and early adopters like Lululemon have already started RFID tagging items in their supply chains; but it may be awhile before the likes of Walmart and Lowes can join in. Find out how augmented reality could change the way we shop.
[00:15:58] Thievery in the Workplace and 4-Tell
Supply chain hiccups, brand licensing, where to have the next yacht party; these must be the biggest issues facing big retail chains today, right? Actually, internal staff integrity is really putting a damper on many company profit margins. How, you ask? Stealing. Yep, employees are stealing from the retail companies they work for so often that it is driving their ‘shrink’ up. Shrink describes inventory that is depleting, but not generating income. Tom O’Keefe, explains how RFID tagging could help the situation.
Also, have you heard about how companies like Nordstrom and StitchFix use digital, personalized product boards to send their most loyal customers product suggestions after they leave the store? It sounds like the kind of experience today’s digitally-savvy customers have been begging for. The technology that makes that possible is provided by companies like 4-Tell. Find out more about what 4-Tell does.