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Blockchain can change retail

The retail industry has undergone a transformation with technology and online shopping retailers are spying ways to hang on to traditional shoppers while diversifying both their channels and their wares, says JAQUELINE VAN EEDEN, Business Development Manager: Retail and Consumer Industry at Wipro Limited, Africa

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Cryptocurrency and the blockchain

The wave of cryptocurrency has lapped over the world, garnering the interest of even the most guarded and technology-reluctant folk. Retailers have cottoned on to this trend, with leading South African retailer, Pick n Pay, trialling Bitcoin payments mid last year. Despite the fact that they have not proceeded beyond trial, Pick n Pay spokesperson cited cryptocurrency as a “game changer” for the retail space, and one which will inevitably be accepted as tender as it matures.

Meier, says however, that it is the technology behind cryptocurrency, called blockchain, which is making a more tangible impact on retail.

“Retailers are exploring blockchain technology to drive core processes such as buying and reselling of stock and regulating logistics. Use cases are gaining traction virtually on a daily basis. Beyond cryptocurrency, the blockchain can also facilitate other payment methodologies, such as voucher or barcode payments, which will eventually encroach on traditional payment methods,” says Meier.

The custom customer

Customer demands are changing, partly because of new shopping habits brought about by technological advancements such as shopping apps, and partly because of the advent of an entirely new generation of shoppers who’ve been born to a world of instantaneous delivery. A natural follow on from this is customisation.

Consumers today are uniquely positioned to demand what they want – and get it too. Meier points out that retailers are leveraging big data and analytics to tailor their services and products to the market. In some cases, going as far as to customise for individual consumer requirements. Customers are reaping the benefits of on-demand products and delivery, from whichever platform they feel most comfortable using.

“Customisation is gaining popularity in the likes of fashion and the automotive industry. The line between retailer and manufacturer is blurring – both have begun selling direct to the customer and retailers have invested in their own private label products. Retailers are moving into the manufacturing space, making use of technologies such as the blockchain, 3D printing, augmented reality and online app-based customer design platforms, where customers can simultaneously create and buy their own unique version of a product.”

It’s all about choice

Consumer demands and retailer’s access to technology are creating an effective meeting or engagement point between customer and retailer, where more choice is available either through the method of purchase, such as apps, or method of delivery, as with subscription-based buying.

“Products are increasingly being offered as a service, a prime example being upcoming car subscription services such as Volvo’s Care,” says Meier. “Retailers in other industries are also exploring this type of offering or looking at ways to integrate service offerings into their delivery, either themselves or through strategic partnerships with emerging players.”

For retailers, leveraging start-ups that can add value to their own customer service, becomes cost  effective way of boosting their offering without building or retaining in house services of their own. Meier offers examples of replacing an in-house logistics fleet through partnering with a start-up transport service, or using the likes of PayPal or Zapper instead of traditional Point-of-Sale (PoS) systems to supplement cash and card payment options.

Electronic tokens, SMS and WhatsApp have become normalised interaction channels, particularly for retailers that target the youth. Retailers are using the likes of WhatsApp for more than just communicating with customers; it’s being used to transact, confirm payments and orders, and to inform customers of important information, such as delivery status.

Challenge of change

Meier poses that the challenge with these platforms – as with shared delivery platforms – however, is that they are difficult to monitor and manage.

“While there is value and costs savings to be had by chasing these technologies and partnering with emerging players, in that retailers are able to focus on their core business, measuring the success and true value of these ventures still poses a concern,” explains Meier. “Retailers still rely on records such as delivery notes, purchase orders, etc. For these platforms to be successfully integrated into operational functionality and become auditable, they need to tie in with the retailer’s financial system – which many don’t as yet.”

Keeping it all secure

Where financial information is disclosed, there is always a risk of security breach. Retailers are investing heavily in security measures such as encryption to minimise this risk, boost consumer trust and mitigate potential damage to their reputations. The use of multiple interaction channels such as WhatsApp can be a concern, as the security of these platforms resides with the platform and not the retailer.

“Most shoppers are familiar with the scams out there, such as phishing sites and poor security when buying from sellers via online platforms. Introducing rating systems helps to boost buyer trust and makes buying and selling on these platforms safer, by virtue of using only well-rated sellers. Consumers need to actively use the trust facilities available to them,” says Meier.

Goods-in-transit security is another concern. The introduction of smart dashboards in vehicles, and IoT devices to monitor loads, is opening the door for their use as a security and communication tool, enabling monitoring of goods-in-transit while offering other benefits, like proactive vehicle maintenance.

Change is happening

It’s not the retail industry as a whole that is necessarily driving the demand for technology though. Individual retailers are exploring things such as disruptive payment systems, ways of outsourcing their logistics requirements, or methods to engage with customers through third parties who offer multiple brands across all sectors on a single, interactive platform.

“There is a technological convergence happening in the market place, where consumers can access whatever they are looking for across different traditional industries, in one place, and have it delivered in a manner of their choosing. Maintaining pace with this expectation, and innovating to meet it easier, quicker and with better returns, is driving technological adoption, even as technology drives the change,” concludes Meier.

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AppDate: DStv jumps on music bandwagon

In this week’s AppDate, SEAN BACHER highlights DStv’s JOOX, Cisco’s Security Connector, Diski Skills, Namola and Exhibid.

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DStv JOOX

DStv is now offering JOOX, a music streaming service owned by China’s Tencent, to DStv Premium, Compact Plus and Compact customers.

In addition to streaming local and international artists, JOOX allows one to switch to karaoke mode and learn the lyrics as well as create and share playlists. Users can add up to four friends or family to the service free of charge.

DStv Family, Access and EasyView customers can also log in to the free JOOX service directly through JOOX App, but will be unable to add additional friends and won’t be able to listen to add-free music.

Platform: Access the JOOX service directly from the services menu on DStv or download the JOOX app for an iOS or Android phone.

Expect to pay: A free download.

Stockists: Visit the store linked to your device.

 

Cisco Security Connector

With all the malware, viruses and trojans doing the rounds, it is difficult for users and enterprises to ensure that they don’t become targets. Cisco, in collaboration with Apple, has brought out its Cisco Security Connector to protect users. The app is designed to give enterprises and users overall visibility and control over their network activity on iOS devices. It does this by ensuring compliance of mobile users and their enterprise-owned iOS devices during incident investigations, by identifying what happened, who it affected, and the risk of the exposure. It also protects iPhone and iPad users from accessing malicious sites on the Internet, whether on the corporate network, public Wi-Fi, or cellular networks. In turn, it prevents any viruses from entering a company’s network.

Platform: iPhones and iPads running iOS 11.3 or later

Expect to pay: A free download

Stockists: Visit the Apple App Store for downloading instructions.

 

Diski Skills

The Goethe-Institut, in co-operation with augmented reality specialists Something Else Design Agency, has created a new card game which celebrates South African freestyle football culture, and brings it alive through augmented reality. Diski Skills is quick card game, set in a South African street football scenario, showing popular tricks such as the Shibobo, Tsamaya or Scara Turn. Each trick is rated in categories of attack, defence and swag – one wins the game by challenging an opponent strategically with the trick at hand. Through augmented reality, the cards come alive. Move a smartphone over a card and watch as the trick appears on the screen in a slow motion video. An educational value is added as players can study the tricks and learn more about the idea behind it.

 

The game will be launched on 27 October 2018 at the Goethe-Institut.

For more information visit: www.goethe.de

 

Namola

With  recent news of kidnappings on the rise, a lot more thought is going into keeping children safe. Would your child know what to do in an emergency? Have you actually asked them?

Namola, supported by Dialdirect Insurance, is a free mobile safety app. Namola’s simple interface makes it an ideal way for children to learn how to get help in an emergency. All they need to do is activate the app and push a button to get help that they need, even when their parents are not around.

Parents need to install the app on their child’s phone, hold down the request assistance button, program emergency numbers that will automatically be dialled when the emergency button is pushed, and teach their children how and when to use the app.

Platform: Android and iOS

Expect to pay: A free download.

Stockists: Visit the store linked to your device.

 

Exhibid

Exhibid could be thought of as Tinder, but for for art lovers. The interface looks very similar to the popular mobile dating app, in that users swipe left for a painting that doesn’t appeal to them, or swipe right for something they like. Once an art piece is liked by swiping right, one can start bidding or make an offer on it. The bid is automatically sent to the artist. Should he or she accept the offer, the buyer makes a payment through the app’s secure payment gateway and the two are put in contact to make arrangements for delivery.

Platform: Android and iOS

Expect to pay: A free download.

Stockists: Visit the store linked to your device.

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New kind of business school

At a recent meeting, ALLON RAIZ, founder and CEO of Raizcorp, realised that in order for today’s youth to become entrepreneurs, teachers, the curriculum and the parents need continually expose them to entrepreneurial thinking from a young age.

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Several years ago, I found myself in a meeting with my business partner and two of my staff members. In front of us was a client who was sharing some of the frustrations in his business. At the end of the meeting, my partner and I were extremely excited about the prospect of two massive opportunities we had both independently identified while listening to the client. My two staff members, on the other hand, completely missed them. This led me to wonder what it was in my own and my partner’s backgrounds that allowed us to so easily spot opportunities while my two staff members remained oblivious … I realised that the difference was that my partner and I both had an early exposure to entrepreneurship while they didn’t.

Not long afterwards, I was delivering a lecture about how Raizcorp grows and develops small businesses at Oxford University’s Said Business School in my role as their Entrepreneur-in-Residence. I mentioned the above incident and spoke about my intention of going into children’s education with a view to providing an entrepreneurial perspective.

One of the professors in attendance asked me if I’d ever heard of a piece of research by Henrich R Greve called Who wants to be an entrepreneur? The deviant roots of entrepreneurship. It’s a pretty unfortunate title but a fascinating piece of research nonetheless. It highlights how certain contexts in childhood result in a much a higher probability of becoming an entrepreneur. For example, kids who participate in solo sports such as tennis or athletics are more likely to become entrepreneurs than children who play team sports like soccer and cricket. Conversely, your mother’s participation in the parent-teacher association has a negative correlation to you becoming an entrepreneur. I spent the rest of the afternoon in the professor’s office discussing other research papers that unequivocally proved that context during your childhood has a massive influence on whether or not you will follow the entrepreneurial route.

Another member of the lecture audience was a double-PhD from the USA who was completing her MBA at Oxford. After the lecture, she approached me and volunteered to help build a framework to incorporate entrepreneurship in the school curriculum without interfering with the formal requirements of the CAPS curriculum.

She spent nine months in South Africa working with me to build out a practical framework. The next phase of the plan was to find the right school at which to embark upon this journey. In December 2015, Raizcorp purchased Radley Private School and we began our entrepreneurial education adventure in earnest in 2016.

At the centre of the Radley philosophy is that the school (the physical building), the teachers, the curriculum and the parents are the “marinade” in which the kids need to soak in order to be continuously exposed to entrepreneurial thinking from a young age. The aim was that if, in future, the kids found themselves sitting in a boardroom with me and my partner, they too would be able to identify the opportunities that we did.

A big shift this year has been the launch of our Entrepreneurial Educator Guide (EEG) programme where we have been training our Radley teachers (whom we call guides) to understand entrepreneurship, business language, business concepts, financial documents and the like. (The EEG training makes use of Raizcorp’s internationally accredited entrepreneurial learning and guiding methodologies.) We have also employed a full-time staff member to ensure that these concepts are imbedded into all lesson plans and classroom activities.

Through my network at Raizcorp, I have been pleasantly surprised by the massive support we’re receiving from prominent entrepreneurs and businesses who want to participate in our Radley Exposure programme, where we take our kids of all ages on visits to different types of businesses so they can understand the difference between retail, wholesale, manufacturing, logistics and so on. Prominent businesspeople have put up their hands to come to the school and tell their stories of hard work, resilience and perseverance. This ties in beautifully with the 17 entrepreneurial concepts that we are instilling into our Radley learners (such as opposite eyes, lateral thinking and opposable mind), while never compromising on our quality academic offering.

As parents, we’ve all heard the terrible statistics about the probability of our kids finding jobs in the future. At Radley, we’re working hard to ensure that our kids have a legitimate and lucrative alternative to finding traditional employment and that is to become an entrepreneur. Radley is all about producing job creators and not job seekers!

To enrol your child or find out more about the school, please visit www.radley.co.za.

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