1 - What is “The New Retail” and what does it mean for brands and retailers in the U.S. and globally?
The New Retail is the complete integration of online, offline, logistics, and technology into a single value chain that places customer centricity and convenience above all else. The battle between bricks and clicks is over, and the winner is The New Retail. The digital titans have integrated brick and mortar into their DNA. The brick and mortar titans have now gone digital. Wal-Mart, Target, Alibaba, Amazon, and JD.com are building new ecosystems and habitats that will see the terms channel and eCommerce disappear. The New Retail incorporates data science, logistics excellence, smart stores, and experiential retail-tainment for a Uni-channel experience.
2 - What is Uni-channel and how does it serve customer centricity and convenience?
Uni-channel is the elimination of traditional channels through digital transformation. In The New Retail the consumer no longer goes to the product, the product must be brought to the consumer by allowing them to research, engage, and buy anyway, anywhere, and anytime they want in a single channel ecosystem. Uni-channel must be supported by Uni-marketing and Uni-logistics.
3 - What role does supply chain and logistics play in The New Retail?
On Alibaba’s Single’s Day Shopping Holiday on 11-11-17 the company realized $25 billion in gross merchandise volume sold in 24 hours. These sales would have meant nothing without the ability to process 120k orders per second and to correspondingly move 650 million parcels to the end consumer. Supply chain and logistics pillars of The New Retail.
We call it Uni-Logistics. The ability to move products from anywhere to anywhere, anytime. The ability to deliver containers, LTLs, palettes, cases, and eaches for direct to consumers or into the ecosystems and habitats of the titans (Amazon, Alibaba, Wal-Mart, Target, JD etc. al).
To better understand The New Retail, attend the Tompkins International Annual Supply Chain Leadership Forum (SCLF) being held April 30th through May 2nd, 2018. I will be explaining Globalization 2.0 in my PechaKucha discussion and how this affects all businesses.