Tony D'Onofrio
Blog
A key highlight of 2017 was a retail customer panel that I had the pleasure of moderating. Four executives (two recently retired and two still active) representing over $70 billion in revenue shared their insights on industry megatrends, driving disruptive change, choosing a technology partner, and the future of retail.
The Retail Megatrends
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"Step with care and great tact, and remember that Shopping's a Great Balancing Act." (1)
As we enter the busiest shopping season of 2017, I started reflecting on the differentiation strategies for a successful transition to the digital future of retail. What are the definitive formulas for retail success in 2018 and beyond?
The McKinsey Formula for Retail Success
McKinsey in October 2017, published a great article on shopping and personalized marketing. "Targeted communications that are relevant and useful can create lasting customer loyalty and drive revenue growth of 10 to 30 percent."
As part of their marketing personalization analysis, McKinsey pointed to this simple formula:
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Career & Life Advice from Tom Cruise, Don Corleone, & Rocky Balboa
Couple of weeks ago had the pleasure of being the Master of Ceremonies (MC) at our multi-day fiscal year kickoff meeting. Over 140 people from around the world joined us in Florida for the "Mission Possible" themed New Year event.
The orchestration of this event was a great reminder of the quintessential leadership success formula. It is never about you. My mission possible life and career has been inspired by these three success elements.
Reticent Preparation
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RFID - From Espionage to IoT Immersive Customer Experiences
Couple of weeks ago had the pleasure of co-hosting a Retailer Performance Council for Tyco Retail Solutions in New York. This post was inspired by now customary welcome toast for our distinguished retail guests and a presentation by Dr. Sanjay Sarma from MIT titled 'The Inversion Factor - How to Thrive in the IoT Economy'.
History of RFID
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Consumer Trends Collide with Increased Theft Opportunities
In December 2016, Amazon Go was introduced to the world. The premise of the new 'Just Walk-Out technology' store was to empower consumers to walk-in, pick up any products, and track it all through a virtual shopping cart. "When you're done shopping, you can just leave the store. Shortly after, we'll charge your Amazon account and send you a receipt."
Click LINK to see the Amazon Go video
No Lines, No Checkout. (No, Seriously, Go Steal Stuff)
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Zones of Influence and Innovation Chains are the Future of Retail
Have been an advocate for some time of the work being done by Read Hayes and the Loss Prevention Research Council (LPRC) at the University of Florida. The group's primary mission is on scientific approaches to improve LP strategies and interventions in fighting retail crime.
Forty five major retailers, sixty solutions providers, and five manufacturers are currently LPRC members. All these companies have partnered in conducting over 120 real-world loss prevention research projects.
LPRC Zones of Influence
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“It’s not where you start that matters, it’s where you finish that makes all the difference.” – Tony D’Onofrio
Maybe I have been luckier than most. Every day I am inspired by the potential possibilities to change the world. Every night, reminders swirl through my mind on how much I love my life.
In a recent internal company video I was asked how I keep my passions alive, what gets me up every day and keeps me going.
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Meet the 2017 World Most Admired Technology and Retail Companies
Concurrently with BrandZ issuing their 2017 top 100 global brands report which was analyzed in the last post, Fortune Magazine published their latest list of the world most admired companies.
In a digital highly connected world, branding and differentiated customer experiences will define leadership. What is the correlation between brand value and being most admired? Which companies have already achieved the threshold in being on both lists? What differentiates these companies? Which industry trends are driving increased brand value and being most admired? Are western brands the future of these two lists?
The Top 10 Most Admired vs The Top 10 Global Brands
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Lead, by Living Your Personal and Professional Branding Dream
As reflected on my personal website, my endless curiosity journey has focused on three topics: retail, technology, and leadership. The subplot spotlight to all three categories has been a passion for branding.
Every year, I look forward to the latest BrandZ Top 100 Most Valuable Brands Report. In a turbulent 2017 year, "brands have continued to deliver. The Top 100 brands increased in value by 8 percent year-on-year to now be worth $3.64 trillion."
Top 10 Brands in Apparel
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Salute - Wish you Passion for Many First's
A few weeks ago had the pleasure of sharing a great evening with 100+ retail attendees at the world famous Walnut Room in Chicago. Opening in 1907 and currently located in a Macy's, the Walnut Room was the first ever restaurant in a department store. The elegant interior is surrounded with Circassian wood paneling imported from Russia and features Austrian chandeliers.
The celebration was part of our two day ShopperTrak Retail User Summit. My role for this particular evening was to deliver the official welcoming toast to our special guests. Taking my endless curiosity to the next level, decided that this particular moment required a special "Chicago Way" salutation. Verbatim following are the words shared with the audience.
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Chain Store Age
Harvard Business Review
It is a Small World
"To succeed in life, you need three things: a wishbone, a backbone and a funnybone." – Reba McEntire
Continuing our global journey to learn something new, our next stop is the Trevi Fountain in Rome. The name "Trevi" comes from the Italian words tre, meaning "three", and vie, meaning "roads". The fountain is located where three roads meet.
A fountain has been located at the Trevi Fountain site for over 2,000 years. The current fountain was designed by Nicola Salvi and built between 1732 and 1762. It's the largest Baroque fountain in Rome.
The Trevi Fountain's water comes from the Acqua Virgo aqueduct, the only functioning aqueduct from ancient Rome. Local lore says that throwing a coin into the fountain will ensure you return to Rome. Other lore says that throwing two coins will lead to love, and throwing three coins will lead to marriage.
Wishes aside, since 2006, a Roman Catholic charity called Caritas has collected the roughly €3,000 a day thrown into the fountain and used it to provide food and social programs worldwide.
Life is one sweet ride. Time flies way too fast. Take a moment. Sit at your favorite place. Imagine the history before you. Live each moment as it was your last. One day, it will be.
Categories
Brilliant Research
Unlocking Shopper Reactions to Secured Products
60% of shoppers report seeing locked-up merchandise on a regular basis. More than a quarter of shoppers say a retailer loses their purchase when items are locked up. 62% of shoppers say they typically wait for assistance when they encounter locked up merchandise, and 9% say they order the item online from that same retailer. - From Numerator.com Read more
Smart Infographic
Retail Media: An Evolving Growth Opportunity that Won't Wait
Retail media is still surging. Ad spending with US retailers is growing 9X faster than traditional point-of-sale shopper marketing. - From Bain & Company
Insightful Videos
Why EV Leases Are So Cheap Right Now In The U.S. -CNBC
Automakers are offering steep discounts on electric vehicles, and especially on leases. In the first three months of 2024, less than a quarter of car buyers leased vehicles, but more than a third of EV buyers did. Read more
