HMV announced on 28 December, 2018 that they were appointing KPMG as administrators, following “a “tsunami” of retail challenges, including business rate levels and the move to digital”, according to Hilco, the restructuring group who rescued the retailer in 2013.
This is sad news for the retail sector, and for music-lovers who remember the age of dominance of HMV and Virgin Megastores (who at the time were challenging HMV as the ‘traditional giant’).
Hilco mention a ‘tsunami’ and I think that this is the key point. No one factor killed off HMV – not digital downloads, not rates, not changes in consumption and the music industry… Rather, these factors have all been accelerating and working in unison.
This is the inflexion point where a slope turns into a cliff.
I was invited to comment on the news both on Sky News and on LBC that evening and my clips are below.
It was a pleasure to travel to Baden (not far from Zurich) to present at the E-nnovation Week (https://e-nnovationweek.com/) event. Congratulations to Carlo Terreni and his team for putting on an impressive multitrack, multiday conference and expo.
I took as my theme the growing role of AI (Artificial Intelligence) in multichannel retail… what is it, what are the main elements and how can we use it. I focused on AI in image-recognition and looked at examples from shelf-edge scanners to custom tailoring; checkout-free stores to product search.
If you’d like a copy of the presentation or to discuss further then do let me know.
I was invited to address the EU’s Joint Research Centre team as part of their series on Megatrends. I took as my theme the changes in consumerism and how they would affect not only retailers and consumption in the short term, but also the relationships between state, services, brands and commerce. It was a stimulating opportunity to take the last four years of IREU Top500 research, the ongoing changes and disruptions in our industry and place these in the context of social and scientific policy-making.
The JRC’s base is in Ispra, high in the mountains, on the site of a former nuclear research centre… The setting is very ‘James Bond’ – massive security (a well-dressed, very serious nuclear police force!) and then a campus that blends the look of a modern high school with a moonbase. I was expecting solid concrete blast doors but – although the reactor is still in use for research – the environment was serious rather than max security.
The welcome was exceptional and I was treated to a tour of the information centre where you could see not only the major workstream of the EU policymakers, but also the contributing science to assess and support those goals. It is a multidisciplinary and multinational place.
After my presentation I spent a couple of hours in the electric vehicle testing unit, seeing how electric cars are tested, safety is assured and the impact on the national grids are calculated. Not only is each vehicle charger tested for how it (alone and in concert) can affect the grid, but how the grid’s flux and stress will affect each one. I’ve attached a photo of one of the test rooms that checks for electro-magnetic emissions during charging, rest, load…
It was a fascinating day where I was met with enthusiasm, patience (as things were explained to me) and a clear passion for their role – ensuring that decision-making and policy are based on the very best evidential and practical base.
It was my pleasure to open the Ometria Lifecycle conference with a keynote on ‘Connecting with the Connected Customer’ – one of my persistent themes, focused on how retailers and brands can connect effectively and profitably with demanding consumers. Taking insights from the IREU Top500 I looked at 6 challenges that retailers need to overcome in order to succeed.
Congratulations to Ometria on a full house, great organisation and an a fantastic vibe to the day. Looking forward to our upcoming collaboration on White Papers and continuing this thread of conversation.
ShopTalk had their first European ‘outing’ in Copenhagen in October, with a three-day event that gathered some 2.500 delegates for three days of networking, meetings, keynotes and presentations. The IR team was there for the whole event and we were busy from dawn until (nearly the next) dawn catching up with retailers and innovative vendors from Europe and the US.
I gave a speech on the final day with six lessons from the IREU Top500 ranking of Europe’s multichannel retailers, brands and ecommerce pureplays.
Looking forward to speaking at the upcoming eCommerce Trends Poland. This will be the fourth time I’ve spoken at the NoNoobs-organised event and there’s always been a full house and lively discussion.
This time I’m taking ‘competing with/alongside Amazon’ as my theme. Amazon is of interest to Polish merchants for both the growth opportunity and the threat. Even though Allegro.pl is a pan-European powerhouse of a marketplace, somehow the encroachment of Amazon is seen more as a threat. In my presentation I’ll look at the areas for merchants to sustain their independence, to work with Amazon and thrive in a multichannel world.
At InternetRetailing we’ve know aDigital – the Spanish Association for the digital economy – for a number of years, so it was a great pleasure to be able to join them in Bilbao for their FashTech Conference on 29 November, 2016.
The event was very well-attended, with some 450 delegates at any one time in an impressive venue – the Azkuna Zentroa – a mixed-used community conference/cinema/expo/meeting venue… a bit like a mini Tate Modern just for meetings and events!
I took as my theme some of the learnings from the InternetRetailing IREU Top500 ranking and in particular the challenges of connecting with connected customers, at scale, repeatedly and at profit.
I had not visited Bilbao for about 25 years and so the renaissance in the city was remarkable. More pleasing that that, however, was the really local feel to the city. That evening, as I got lost on my wanders, I bumped into people who’d been at the Conference and came up to me, chatted (and pointed me in the right direction). I’ve never experienced that before.
You can see the video of my presentation here, along with some kind tweets.