What’s hot and what’s not? Five retail technology questions for Excellent Zephyr’s Ian Moore
RTIH asks major players in the retail technology space for their thoughts on the sector, and throws in a random question to keep them on their toes. This time around, our five questions go to Ian Moore, Founder and Head of Services at Excellent Zephyr.
RTIH: Looking at the hottest retail technologies right now, check-out free stores, rapid delivery services, the metaverse and NFTs, automation and robotics, and blockchain technology, which ones stand out to you, and for what reason?
IM: Technology has been crucial over the past couple of years in enabling stores to pivot online during the pandemic.
But what we will see over the next 12 months is a shift to retailers using technology to once again adapt to changing consumer habits, including the resurgence of in-store shopping and omnichannel retail.
I think in the current climate, being able to truly automate will be highly desirable.
Our customers are desperate for technology to automate processes. This is not simply to save on time, but stop manual errors and save money. It also allows retailers to free up resources during labour shortages.
This leads me onto checkout-free stores. This, for me, is really exciting. As I mentioned, more and more consumers are heading back to the high street, but they’re going there with a different expectation of what that experience now looks like.
As shoppers went online during the pandemic, they were able to check-out quickly with one click. Consumers want that same seamless customer experience and speed of checkout but this time in-store.
We’ve only just started to see the impact and benefits innovative checkout free technology can offer, but playing its part in the larger retail landscape is automation.
Automation is the necessary component to enhance customer experience and satisfaction in checkout- free stores. But not if it’s a gimmick that has no purpose.
RTIH: Which retail technology trend is overrated in your opinion?
IM: It has to be the metaverse - you need mass adoption of the tech and to me, I can’t understand how this is going to happen. Currently there’s no real life application and consumers generally prefer real interaction.
What we’re seeing at the moment is immature technology. That’s not to say this won’t change in the future.
We are living in uncertain times and retailers are looking for an ROI and impact on the bottom line. In my opinion, there are other trends influencing the retail space in a more impactful way.
For example, AI and automation, which will have an immediate and bigger impact on brands right now.
RTIH: What are the top five retail tech Twitter/LinkedIn accounts you can’t do without, and why?
Richard Lim - extremely knowledgeable retail economist and great speaker.
John Hoyle, Founder and CEO of Sook - as a business model Sook is coming up with practical solutions to real problems within the british high street.
WTF?! Is Retail Podcast - a great place to hear from top retailers who are the real stars of the show.
Iris Schiefer, from BigCommerce - extremely knowledgeable and qualified in her opinion. Some great insights about the e-commerce industry.
The Economist - quality journalism and factually based. Provides me with expert retail analysis and relevant trends.
RTIH: If you could have a dinner party with any five retail pioneers, dead or alive, who would they be and why?
IM: Vivienne Westwood - a pioneer in fashion, prepared to take risks, had an opinion, tapped into cultural and political movements and was ahead of her time. A trendsetter.
Will Crumbie, CEO at FatFace - the brand has great products, ethics and values. It would be a dream project to work with such a company.
Will Stirrup, the co-founder of the e-motorbike brand, Maeving - I’d love to speak to him about the design of the electric motorcycles, how old meets new. An incredible environmentally friendly, fresh brand, and one to watch.
Dave Wiltshire, founder of Patchworks - Dave has built his British-based tech company from scratch. Not only do we work closely together on business, but we have become good friends.
Dick and Mac Mcdonald, the original owners of McDonald’s.
Although they ran a small but successful restaurant, their idea was out-thought by Ray Kroc, who saw the future and potential of their product. It would be amazing to hear their story and experience.
The brothers’ idea changed the world we now live in in regards to food.
RTIH: What are your retail predictions for 2023?
IM: Pop-up stores or flash retailing will see a revival in 2023, as retailers leverage in- person retail for key product launches, keeping costs down but providing the customer experience, across channels, that today's consumers desire.
This should be integrated and part of an e-commerce strategy, providing click and collect to customers during these moments.
I also firmly believe that marketplaces will become increasingly popular next year.
With the acceleration and sheer number of e-commerce brands entering the market over the past two years, competition is fierce and standing out and driving traffic has become more difficult. That’s why stores should direct customers to their brand through a reputable marketplace.
With the growing volatility in the UK, integrating an end-to-end solution will be essential in 2023. Allowing retailers to scale up their operations without risk and have a 360-degree view of their business, all in one place.
Finally, data will be king this year. As I mentioned earlier, intelligently automating data, will enable retailers to streamline key business operations and will save them valuable time, resources and money.
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