Paul Gaffney

Exciting Insights from The New York Times Interview with Robert Sanders In a recent interview, Dr. Stamatopoulos highlighted a fascinating trend: when Electronic Shelf Labels (E.S.L.s) are implemented in stores, they not only reduce the average price per unit sold but also increase the overall quantity of items sold. This dynamic pricing strategy, especially as expiration dates approach, creates a win-win situation for both companies and consumers. ……..! At Wasteless AI , we are harnessing the power of smart dynamic pricing to tackle food waste and enhance profitability. By using advanced algorithms, we enable retailers to optimize pricing in real-time, ensuring that products nearing their expiration dates are sold quickly while maximizing revenue and reducing foodwaste and markdown costs This approach not only benefits the bottom line but also contributes to a more sustainable future by reducing waste. Together, we can transform the retail landscape and create efficient, eco-friendly shopping experiences! Oded Omer Tomas Pasqualini Yossi Regev

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When projects fail, true leaders step up. In the latest episode of the Disruptive Innovators: Champions of Digital Business podcast, David Wright talks to Jason James, CIO of Aptos Retail, about the critical role of technology in retail, leadership and mentorship. Jason emphasizes proactive communication during failures and the importance of mentoring future leaders. He discusses how technology should empower business, not just serve as a cost center. Jason also shares insights on how effective leadership can define a legacy and drive business success. For the full episode, click the link in the comments. #DisruptiveInnovation #Innovation #DisruptiveTech #DigitalBusiness

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The precarious position of CEOs in #retail and #consumer #packagedgoods (CPG) industries stems from the high volatility and rapid changes in consumer behavior. Unlike sectors like automotive or finance, where purchase cycles are longer and more predictable, consumers in retail and CPG make frequent, easily influenced choices. This makes it quickly apparent when a brand is underperforming, and boards are more inclined to replace leadership in hopes of finding someone who can drive the company to the top of its category. The pressure is intensified by stakeholders’ expectations for radical growth, especially when a predecessor achieved success through incremental improvements. New CEOs often face the challenge of balancing strategic renewal with the need for quick results, all while navigating a rapidly shifting consumer landscape. Longevity in these roles hinges not only on having a compelling vision but also on the ability to adapt and execute effectively, seizing the opportunities that change presents. Ultimately, CEOs who consistently deliver value to both consumers and shareholders will be the ones who thrive in these high-risk, high-reward positions!

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Walmart are bringing surge pricing to physical retail. At least the infrastructure for it. Is this progress? For the brand, or for the consumer? And what is the impact of this for the whole supply chain. Check out the latest How We Make Things Now podcast from Label Sessions to hear this mug + the more eloquent Helen Page, Josh Nixon and Fuzlin Esau on this and the other innovation news from the week.

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My good friend Rachel ten Brink of Red Bike Capital was over at Bloomberg Intelligence today giving her thoughts on the recent retail results from Target and Macy's. Interesting day for retail and what the earning calls had to say: 🛍️ Consumers are feeling the pinch and scaling back; 🎯 Target announced yesterday that it is lowering prices on core 5000 items - a mass loss leader, so to speak; 🏷️ consumers are ready to wait for a price reduction or sale. 💳 retailers are feeling the squeeze are delinquency rates on their credit card businesses go up 👮🏻‍♀️ shrinkage still an issue (less for target due to locked products) but clearly not going away. What's the future of malls? 🏬 🔻 smaller stores with Macy's closing 150 locations and focussing on key locations. (worked for Bloomingdale's and Bluemercury); 🤑 Focus on higher income customers who are spending but more selectively; 📲 Where's tech in all this?! 🧠 AI being deployed across inventory optimization, improvement of conversion rates, better consumer intelligence- need tech that can drive topline growth while optimizing margin... The last one pass_by is particularly happy to hear! 😀 Give the whole segment a listen - it's quick, insightful and fantastic! 👇

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Frictionless grocery shopping is evolving fast, with one solution boasting a 60% reduction in shrink from theft and error. https://lnkd.in/gSnc6TYg #RetailTech #FrictionlessShopping #Innovation #ShrinkReduction #SmartRetail

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My last 20 years of experience with the retail industry taught me that ‘apparently simple’ problem of ‘demand forecasting’ has never been solved. Typical problems of ‘out of stock’ and ‘over stock’ are still prevailing in our high tech retail tech world of AI. My recent discussion with couple of my CIO friends reconfirmed my hypothesis that ‘demand forecasting’ unless supported by ‘supply chain’ and ‘last mile logistics’, it is bound to fail. The challenge does come from technology infrastructure. It really comes from understanding of data, interpretation and using multivariate analysis to a decision path and outcome. McKinsey’s article clearly emphasizes the lessons we learn in this regard. #retail #retailtech #AI #logistics #supplychain #demandforecasting #overstock #outofstock #deeplearning #Mckinsey #epam

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This article from my CEO ties directly to the concepts I’ve been sharing about inventory in the AI era. It highlights how financial measurements, like accounting for inventory at sales value, often misalign with operational needs, inflating inventory and delaying markdowns. Key takeaways: - Planning vs. Execution: Low sell-through rates aren’t just a planning failure. They reflect inefficiencies at the store level, where non-moving inventory often exceeds 50%. - Granular Targets: As I’ve discussed, managing inventory as a living system requires setting demand-driven targets for each SKU-location to avoid overstock and free up space for new collections. - The OTB Trap: Relying on Open-to-Buy as a control mechanism leads to bloated inventory. Instead, flexible, dynamic systems ensure seasonal play remains on track. This reinforces the need for a paradigm shift - inventory management as a dynamic, real-time living systems that align processes with market realities.

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Upside sits on a treasure trove of consumer behavior data that can help retailers make business decisions. In that spirit, we’re introducing the inaugural Spend Report to shed light on current consumer sentiments and how those sentiments shape buying behavior. Retailers know that increased price sensitivity almost always leads to increased cross-shopping. But what stands out to me today is the growing prevalence of what we call “the uncommitted customer.” Winning these uncommitted customers represents a tremendous opportunity for retailers. And when you read between the lines of these big spending trends, this report sheds more light on who they are and what they say they need to behave differently. #RetailTrends #ConsumerBehavior #UncommittedCustomer #BusinessInsights https://lnkd.in/g8NCkbxX

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Industrial manufacturing continues to shine as a resilient industry, showcasing remarkable strength in the post-pandemic landscape. While many major American industries face high quit rates, the U.S. Chamber of Commerce highlights that "in more stable, higher-paying industries, such as financial activities and manufacturing, the number of employees quitting has been lower." This confidence among manufacturing workers is vital, driving the industry's remarkable recovery and paving the way for a brighter future. #IndustrialManufacturing #Data #EmployeeSatisfaction

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On this episode of “The Buzz” on Supply Chain Now, Scott Luton, Kimberly Reuter and John DeSarbo explore the latest in inflation updates, AI in retail, generative AI applications, and the transformative impact of AI on industry growth. Tune in for insightful discussions: https://bit.ly/4cxiYGO

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The white house has launched an initiative aimed at eliminating the daily frustrations plaguing American consumers. Aptly named "Time is Money," this program validates what industry veterans like Kate Leggett have long advocated: the critical importance of valuing customers' time. Key focus areas include: • Streamlining subscription cancellations • Mandating automatic cash refunds for flight disruptions • Digitalizing health claim submissions • Eradicating customer service "doom loops" • Combating fake reviews • Cracking down on ineffective chatbots • Optimizing parent-school communications Several of these points directly target customer service deficiencies, leaving me with mixed feelings. The irony is stark: the shift to online customer service was intended to save time, yet it has often resulted in convoluted processes that transform simple tasks into frustrating undertakings. While addressing these issues is overdue, we must acknowledge the challenges faced by customer service professionals. They grapple with the increasing complexity of their roles, often seeing their efforts undermined by the growing intricacies of the processes they're tasked to handle. Nonetheless, this initiative represents a positive step forward for the industry. Link in the ist comment to this post #cx #customerservice

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Two facts: 1) BigCommerce appointed Travis Hess, who joined the company as President this past May, as its new CEO. 2) Businesses that Travis Hess lead get acquired. From BigCommerce's announcement: Hess previously held senior leadership roles at Accenture, where he led the firm's D2C commerce offering and go-to-market strategy. He has also served on partner advisory boards for Shopify, Klaviyo, SAP/Hybris, and Rackspace Technology. Prior to his time at Accenture, Hess was VP of The Stable, an omnichannel commerce agency that was acquired by Accenture, and before that, CEO of BVA, a Shopify agency, which was acquired by The Stable in 2021. 👀 See the pattern here? Everywhere Travis Hess works gets acquired! Earlier this year in May, I reported that BigCommerce was exploring a sale after attracting takeover interest, according to Reuters sources. The sources said that BigCommerce asked investment bank Qatalyst Partners to solicit interest from potential buyers that include private equity firms, but that the discussions were at an early stage and no deal was certain. Industry folks have been speculating for years that BigCommerce should / would get acquired. The company has lost more than 90% of its market value in the four years since its IPO in Aug 2020 and currently holds a market cap of $447M, down from its brief ~$12B valuation in Aug 2020. Rick Watson reported in August that BigCommerce told Wall Street it is no longer for sale, per a research note from Ken Wong, CFA at Oppenheimer. However who's to say that that the For Sale sign isn't switched back on as quickly as it was switched off? Perhaps the leadership shakeup at BigCommerce is in preparation for the company's sale, as Hess comes with tremendous experience leading companies through an acquisition. But that's purely speculation... Either way, I wish BigCommerce the best of luck with the transition, and if not sold, I hope to see great things from the company next year. I'll be keep you posted via my Shopifreaks E-Commerce Newsletter. Next edition drops this afternoon.

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Check out this insightful assessment by Dan Berthiaume on the state of Just-Walk-Out/Grab-and-Go models. Rich McMahon and I came to similar conclusions in a recent LinkedIn discussion. With years of experience in the industry, we see things not just as they are, but as they can and should be. Keep up with the latest developments in the industry by following our posts. #JustWalkOut #GrabAndGo #RetailTech

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🚨 Anomaly Detection in Action: Lessons from Macy's 🚨 Macy's recently posted preliminary results, delaying its full earnings release due to a massive accounting error in the tune of $154M—a move that raises questions about the growing importance of real-time anomaly detection in financial operations. 📉📊 At VAi Consulting, we help CFOs and Finance teams uncover hidden risks and opportunities in their data. Whether it’s optimizing your tech stack, integrating advanced analytics, or leveraging AI to flag anomalies before they become problems, our team ensures you're prepared to navigate uncertainty. The Macy's case highlights why data integrity and actionable insights are critical for business agility. How are you leveraging technology to stay ahead of disruptions? If you want to learn more on how VAi can help you uncover and avoid the types of mistakes Macy's just made in their accounting function send me a DM or e-mail me at [email protected] #Finance #CFO #AnomalyDetection #DataAnalytics #VAiConsulting

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Get a few founders in a room and this question always comes up. If you're running an ecommerce brand - is there a #3PL that you're actually happy with? Our friend Aaron Alpeter recently launched a cool tool: Slotted—a collaborative RFP platform that connects brands with fulfillment providers, streamlines RFP creation, and simplifies proposal evaluation- check it out. (link in comments) Curious: are there any other tools out there tackling all these challenges? Let me know in the comments! Herman Goihman

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