Loss Prevention Research Council Weekly Series - Episode 78 - Need more drones & robots and what's in the mind of retail CEO
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Comment on LPRC Europe
10 retailers
Great discussion
Entire afternoon
Lively dinner
Some in the group did not get home till 5 AM.
Ready for the delivery revolution?
https://www.statista.com/chart/26083/share-ready-for-drone-and-robot-delivery-gcs/
Interesting data from Statista on the what consumers are saying they would prefer to use as delivery methods in the future. China leads the worlds with 26% wanting drones and 31% robots. In the United States, 22% of respondents wanted drones and 17% robots. In the UK, 16% want that drone to come in for a landing with the shopping goodies and 13% want a robot. This survey once again reinforces what I have been saying for some time that China is the place to look for more aggressive innovation adoption in retail.
These are the degrees that will earn you the most money when you graduate – and the ones that won’t
https://www.weforum.org/agenda/2021/10/stem-degrees-most-valuable/
According to the world economic forum, these are the degrees that will earn you the most money when you graduate – and the ones that won’t.
The top 25 college degrees by pay and demand are all in STEM subjects. The top 5 most demand degrees are architectural engineering, construction services, computer engineering, aerospace engineering, and transportation sciences and technologies.
The top five least valuable college majors are clinical psychology, composition and speech, drama & theater arts, miscellaneous fine arts, and visual & performing arts.
Architectural engineers who took the top spot has graduates earning $90,000 a year. Visual and performing arts were the lease valuable degrees with an average pay of $35,500.
Good news from the report in that 97 million new roles may emerge as human, machines, and algorithms work together. There is already a growing demand for data analysts, data scientists, specialists in artificial intelligence and machine learning and robotics engineers.
Retail trade group expects holiday sales to rise by all-time record, despite congested ports
https://www.cnbc.com/2021/10/27/holiday-sales-2021-to-rise-by-8point5percent-to-10point5percent-national-retail-federation-says.html
Good news from the National Retail Federation as reported by CNBC. NRF expects holiday sales during November and December to rise between 8.5% and 10.5%, for a total of between $843.4 billion and $859 billion of sales. This is an increase from most other forecasts that I have seen that had retail sales rising 7% to 9%.
If the 8.5% to 10.5% increase becomes reality, it would be the all-time highest and would beat last year’s record. Last year, holiday sales rose 8.2% from 2019 to $777 billion during the pandemic.
Holiday retail sales have increased by 4.4% on average over the past five years.
KPMG Consumer & Retail Outlook Survey CEO
https://home.kpmg/xx/en/home/insights/2021/09/2021-ceo-outlook-consumer-and-retail.html
As we navigate through continuous disruption, what is in the mind of CEO of consumer and retail companies. KPMG in their latest 2021 survey has the answers.
The good news, 86% of the CEOs are ‘confident’ to ‘very confident’ about their organizations’ growth over the next three years. Among the growth strategies, 36% of CEOs are focused on strategic alliances with third parties. Organic growth, via innovation, R&D, capital investments, new products, and recruitment was close behind with 34% citing these strategies.
What specific activities will consumer and retail CEOs turn to in their pursuit of growth over the next three years? 74% plan to increase investment in new disruption – detection and innovation processes. Joining industry consortia focused on development of innovative technologies is on the agenda for 64%.
More than half or 58% are looking to make their products and services available via an online platform provider, including social media.
All of the above is good news for groups such as LPRC as it confirms that CEOs are looking for cooperative growth improving partnerships. Science based loss prevention can certainly help. Make sure your CEO is aware of the great benefits from actively engaging with the LPRC.
