Industry Trend Forecasting with Ken Fenyo - Episode 56
INTERVIEW AT SHOP.ORG 2018
DESCRIPTION
Today we’re rolling out another great episode we recorded at Shop.org 2018. This time we’re interviewing Ken Fenyo of Fuel by McKinsey & Co, a professional with deep expertise in loyalty programs, e-commerce, personalized marketing, and customer analytics in the retail, consumer goods, and technology industries.
Ken moderated a panel discussion at Shop.org, called “Industry Trend Casting - What You Need To Do Today And Know About Tomorrow”. This was also one of the main drivers of our discussion and a really interesting topic.
There are three larger trends that are currently being seen in the retail industry. The first is in the area of automation, on both the consumer and business sides. The second is in the area of experience, and the technology that supports that, both instore and online. And the third area is around personal relations. Ken approached all of them on the show - tune in to get his perspective.
Things are really changing fast today, making it be pretty hard for businesses to keep up at times. Fuel by McKinsey provides a range of services and was created to give startups and smaller companies the data, insight, and confidence that they really need to scale their businesses. Fuel, as a leader of disruptive innovation, assists startups, their investors, and corporate developers, by adding value and working with innovators towards greater impact, higher valuations, and faster finishes.
“Things are changing so fast that if you are not experimenting, it’s going to be very difficult for you.”
KEY TAKEAWAYS
Ken gives a recap of the things he talked about with his panelists.
Automation is one of the larger, current trends.
There is a lot going on around personal relations.
The role that AI is playing with the current trends.
3-D printing is going to be seen a lot more in the marketplace.
The technology that is being used today for marketing customized clothing.
Dealing with the logistics of selling products globally.
Keeping up with constant change and innovation can be hard.
The benefits of virtual-reality innovations.
Maximizing value for your business.
What Fuel by McKinsey is all about.
The kinds of questions that are addressed by Fuel Access.
About McKinsey Academy.
The variety of ways that Fuel by McKinsey can help smaller companies.
The work that Ken was doing prior to joining Fuel.
Going digital has really made coupons a more engaging, personalized, and easy-to-use experience.
The kind of innovative retail technology that we're seeing in 2018.
Some advice for mid-market sized brands who are grappling with where to focus their attention and how to position themselves for the future.
There's a lot of expertise to be gained from experimenting with direct-to-consumer offerings.
Using data to get to really understand what's happening in the marketplace.
The ability to capture data, and then personalize the use of it, is really a key driver to future success.
Providing the specific experience that your customers are looking for.