The continuing goal of “The Innovation Conversation” is to explore some facet of the fast-changing, technology-driven retail landscape and how it affects businesses and consumers. It is, we think, fertile territory … and one that Tom Furphy – a former Amazon executive who led the team that developed Amazon Fresh, and currently CEO and Managing Director of Consumer Equity Partners (CEP), a venture capital and venture development firm in Seattle, WA, that works with many top retailers and manufacturers – is uniquely positioned to address.
Tom and KC today consider the degree to which Walmart’s Luminate program, which allows for the sharing of detailed (though anonymous) customer information with suppliers, raises the bar on retailer-manufacturer collaboration. They also discuss the need to filter and harmonize data so it is not just a firehose of information, but rather a strategic weapon that can be used judiciously. And, conceding that this approach gives a major competitive advantage to companies like Walmart, Amazon and Kroger (and maybe soon, Albertsons), they talk about how other retailers need to find ways to use technology to get closer to the shopper.
If you’d like to listen to this Innovation Conversation as an audio podcast, click and download below.
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