What makes some online marketplaces so successful? How have they turned retail (and logistics, for that matter) on its head? The answer is intelligence.
Thanks to digital technology and an expansive network infrastructure, some online marketplaces know more about the demand chain that it’s built between brands and consumers than most traditional retailers can possibly grasp. They know when customers consider a product by their clicks. They know where the product is located and the quickest way to get it into customers’ hands. They know if a customer liked the product based on reviews and has a fairly good idea if and when the customer will buy it again. And, in some situations, they even know if a customer used the product a while, then sold it to someone else—on an online marketplace.
These online marketplaces have fused digital marketplace with end-to-end intelligence, something that traditional retailers—for lack of a similar digital infrastructure—struggle to replicate. But, that’s changing.
It turns out, you don’t need to be a tech giant to know exactly when a product comes off the manufacturing line, where it’s physically located in a brick-and-mortar store, or when a customer tries, purchases and takes it home. The time is even coming when retailers, brands and others along the demand chain can gain insight—in real time—into how products of all types are transported, maintained, used, consumed, re-used and even recycled. All it takes is digital intelligence, integrated seamlessly and cost-effectively into products, packaging, processes and more. That infrastructure already exists.
Continue reading: https://www.sdcexec.com/software-technology/e-commerce-solutions/article/21659955/wiliot-capitalizing-on-internet-of-everyday-things-how-every-product-tells-a-story
Thanks to digital technology and an expansive network infrastructure, some online marketplaces know more about the demand chain that it’s built between brands and consumers than most traditional retailers can possibly grasp. They know when customers consider a product by their clicks. They know where the product is located and the quickest way to get it into customers’ hands. They know if a customer liked the product based on reviews and has a fairly good idea if and when the customer will buy it again. And, in some situations, they even know if a customer used the product a while, then sold it to someone else—on an online marketplace.
These online marketplaces have fused digital marketplace with end-to-end intelligence, something that traditional retailers—for lack of a similar digital infrastructure—struggle to replicate. But, that’s changing.
It turns out, you don’t need to be a tech giant to know exactly when a product comes off the manufacturing line, where it’s physically located in a brick-and-mortar store, or when a customer tries, purchases and takes it home. The time is even coming when retailers, brands and others along the demand chain can gain insight—in real time—into how products of all types are transported, maintained, used, consumed, re-used and even recycled. All it takes is digital intelligence, integrated seamlessly and cost-effectively into products, packaging, processes and more. That infrastructure already exists.
Continue reading: https://www.sdcexec.com/software-technology/e-commerce-solutions/article/21659955/wiliot-capitalizing-on-internet-of-everyday-things-how-every-product-tells-a-story
