Innovations in Retail

Excited to share insights from Walmart 's groundbreaking semantic search system that revolutionizes e-commerce product discovery! The team at Walmart Global Technology(the team that I am a part of 😬) has developed a hybrid retrieval system that combines traditional inverted index search with neural embedding-based search to tackle the challenging problem of tail queries in e-commerce. Key Technical Highlights: • The system uses a two-tower BERT architecture where one tower processes queries and another processes product information, generating dense vector representations for semantic matching. • Product information is enriched by combining titles with key attributes like category, brand, color, and gender using special prefix tokens to help the model distinguish different attribute types. • The neural model leverages DistilBERT with 6 layers and projects the 768-dimensional embeddings down to 256 dimensions using a linear layer, achieving optimal performance while reducing storage and computation costs. • To improve model training, they implemented innovative negative sampling techniques combining product category matching and token overlap filtering to identify challenging negative examples. Production Implementation Details: • The system uses a managed ANN (Approximate Nearest Neighbor) service to enable fast retrieval, achieving 99% recall@20 with just 13ms latency. • Query embeddings are cached with preset TTL (Time-To-Live) to reduce latency and costs in production. • The model is exported to ONNX format and served in Java, with custom optimizations like fixed input shapes and GPU acceleration using NVIDIA T4 processors. Results: The system showed significant improvements in both offline metrics and live experiments, with: - +2.84% improvement in NDCG@10 for human evaluation - +0.54% lift in Add-to-Cart rates in live A/B testing This is a fantastic example of how modern NLP techniques can be successfully deployed at scale to solve real-world e-commerce challenges!

Digital wallets (DWs) are the leading and fastest growing payment method globally. Yet not all DWs are the same. This is my analysis of the different players and business models behind them. The numbers: —  5.2 bn users globally by 2026 —  53% e-com global share ($3.1 tn) —  32% POS global share ($12.1 tn) To understand how DWs differ (strategy, positioning) we need to categorize them. These are my criteria: 1)  The types of players that are behind them: SuperApps, BigTechs, e-commerce players, banks, crypto providers, telecoms, big brands, etc. 2)  How they manage funds: DWs such as Apple or Google Pay (pass-through) don’t have their own balance, others such as PayPal process funding and payments in separate stages, whereas Alipay and WeChat Pay are stored wallets, pre-loaded with funds. 3)  The kind of use cases they support (online or in-store with P2P, C2B, B2C, B2B, C2G and G2C variations). 4)  Their technology: QR-codes (widespread in Asia) vs NFC (popular in Europe) or crypto wallets are examples. 5)  Their target audience: merchants, marketplaces, big brands, niche users, etc. 6)  The payment methods they support: credit or debit cards, bank accounts (A2A transfers), crypto, etc. Based on the above, I have identified 10 distinctive DW plays: 1. SuperApps in Asia that have evolved from simple wallets facilitating payment use cases to huge ecosystem behemoths with multiple plays (consumer, merchant, government, lending, etc).   2. Bigtechs like Apple and Google using DWs as vehicles to monetize their user base and expand beyond their core offering. 3. E-commerce platforms like Amazon, Mercado Pago or Rakuten looking to boost their business and create new growth opportunities. 4. Ecosystem players in local or regional markets that use DWs to bring payments, digital platforms and mobile banking functionalities under one umbrella. 5. Banks looking to compete with new value-chain challengers (fintechs, platforms) on their own (front-end) customer-facing game. 6. A2A players like Venmo or Zelle focusing on social features, P2P payments, instant transfers, bank integration and competitive pricing to expand their offering. 7. Niche players using customization, vertical focus, rewards and loyalty programs and specialized offerings to service specific use cases (i.e. gambling, gaming, FX). 8. Crypto & blockchain players using DWs to bridge the gap with the fiat world and to offer new use cases. 9. Big brands like Starbucks leveraging DWs to build closed-loop FS ecosystems. 10. Telecoms in Africa employing DWs as a replacement for core-banking infrastructure.   DWs’ spectacular rise is not only democratizing access to payments and to broader FS faster than any other point in history but it is also forcing players across the value chain (providers, merchants, banks, platforms, fintechs) to re-think their entire positioning and strategy. Opinions and graphics: Panagiotis Kriaris Subscribe to my newsletter: https://lnkd.in/dkqhnxdg

One of the biggest takeaways I spotted from Intuit Mailchimp’s analysis of the 2024 holiday shopping season is that the new year is ripe with new opportunities to drive loyalty. Here’s why → 64% of orders from Mailchimp customers with connected stores came from new customers during Cyber Weekend 2024. That's a huge opportunity to grow your loyal customer base! And research we produced with Canvas8 tells us that the best kept secret to driving loyalty is actually grounded in science. Our Loyalty Wheel reveals 4 key drivers of loyalty: 1. Reward: Our brains love rewards. Create a sense of reciprocity by offering exclusive deals, personalized discounts, or early access to new products. 2. Memory: Make it easy for customers to remember (and repeat!) positive experiences with your brand. Design a frictionless customer journey, offer subscriptions for frequently purchased items, and send well-timed reminders. 3. Emotion: Foster an emotional connection that goes beyond transactional exchanges. Align your brand with causes your customers care about, share authentic stories, and build a sense of community. 4. Social Interaction: Encourage customers to share their love for your brand with friends and family. Create opportunities for user-generated content, run refer-a-friend programs, or host exclusive events. And here's how to put it all into action: 🎉 Surprise and delight: Gift your customers with unexpected rewards. And just not generic discounts. Offer exclusive experiences or partner with like-minded brands to create unique offers. 🛝 Streamline every touchpoint: Remove friction in the customer journey with automation. From browsing to purchasing to post-purchase support, make it easy and enjoyable to do business with your brand. 🎯 Prioritize personalization: Craft your messaging and build authentic connections. Use data and AI analysis to understand your customers' values and preferences and use those insights to create content that resonates. 🤗 Give VIP treatment: Make your customers feel like VIPs. Give them early access to new products, invite them to exclusive events, or feature them on your social media channels. Download Mailchimp and Canvas8’s The Science of Loyalty and The Strategic Loyalty Playbook for a deep dive into the science, complete with actionable strategies and inspiring examples: https://bit.ly/49FJayO Make 2025 the year of the loyal customer. You got this.

𝗞𝗲𝗻𝘆𝗮'𝘀 𝗥𝗲𝘁𝗮𝗶𝗹 𝗚𝗶𝗮𝗻𝘁𝘀 𝗔𝗿𝗲 𝗦𝗶𝘁𝘁𝗶𝗻𝗴 𝗼𝗻 𝗮 $𝟭𝟬𝟬𝗠+ 𝗗𝗮𝘁𝗮 𝗚𝗼𝗹𝗱𝗺𝗶𝗻𝗲 – 𝗔𝗻𝗱 𝗗𝗼𝗶𝗻𝗴 𝗡𝗼𝘁𝗵𝗶𝗻𝗴 𝗪𝗶𝘁𝗵 𝗜𝘁! 💎📊 After deep-diving into #Kenya's Big 3 supermarket loyalty programs (Naivas Limited, Carrefour, Quickmart Supermarket), I discovered something shocking: We're witnessing the greatest missed opportunity in African retail history. 🤯 𝗧𝗵𝗲 𝗥𝗲𝗮𝗹𝗶𝘁𝘆 𝗖𝗵𝗲𝗰𝗸 📈 🔹 Naivas: 2+ million customers, 5-year purchase histories, yet still relies on MANUAL point capture by cashiers 🔹 Carrefour: Digital-first approach, but basic utilization of customer intelligence   🔹 Quickmart: Traditional program with ZERO data sophistication 𝗧𝗵𝗲 𝗧𝗿𝗶𝗹𝗹𝗶𝗼𝗻-𝗦𝗵𝗶𝗹𝗹𝗶𝗻𝗴 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 𝗧𝗵𝗲𝘆'𝗿𝗲 𝗠𝗶𝘀𝘀𝗶𝗻𝗴 💰 Kenyan supermarkets are missing out on a trillion-shilling opportunity to leverage their loyalty data for hyper-targeted offers such as personalized discounts and product suggestions based on individual shopping habits. Mass customization at scale through predictive replenishment, personalized lists and subscriptions, and advanced revenue optimization strategies like dynamic pricing, waste reduction, cross-selling, and churn prediction, all of which could dramatically boost profitability and transform customer experience through true personalization. 𝗪𝗵𝗮𝘁'𝘀 𝗔𝗰𝘁𝘂𝗮𝗹𝗹𝘆 𝗛𝗮𝗽𝗽𝗲𝗻𝗶𝗻𝗴 𝗜𝗻𝘀𝘁𝗲𝗮𝗱? 🤦🏾♂️ - Naivas: Customers manually tell cashiers their phone numbers to earn 1 point per KES 100 - Carrefour: Has the tech but uses it like a digital receipt system - Quickmart: Prayer, Vibes & Inshaallah 🙏🏾 𝗧𝗵𝗲 𝗣𝗮𝘁𝗵 𝗙𝗼𝗿𝘄𝗮𝗿𝗱: 𝗪𝗵𝗮𝘁 𝗜𝘁 𝗪𝗼𝘂𝗹𝗱 𝗧𝗮𝗸𝗲 🚀 To truly unlock the value of loyalty programs in Kenya’s retail sector, supermarkets must invest in real-time customer data platforms, AI-powered analytics, mobile money integration, and omnichannel journey mapping, while strategically building teams for data science, segmentation, and personalization; above all, a cultural shift is needed - from simply running 'points programs' to building intelligent customer relationship platforms, allowing for dynamic offers, relationship-driven engagement, and individualized experiences that will drive loyalty and long-term profitability. 𝗧𝗵𝗲 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗰𝗮𝘀𝗲 𝗶𝘀 𝗠𝗔𝗦𝗦𝗜𝗩𝗘 📈: proper loyalty data utilization could deliver 20-30% higher customer lifetime value, 15-25% larger transactions, 40-50% better retention, and 10-15% marketing cost reduction. 𝗧𝗵𝗲 𝗥𝗲𝗮𝗹 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻❓ 𝗪𝗵𝘆 𝗮𝗿𝗲 𝗞𝗲𝗻𝘆𝗮'𝘀 𝗿𝗲𝘁𝗮𝗶𝗹 𝗹𝗲𝗮𝗱𝗲𝗿𝘀 𝗮𝗹𝗹𝗼𝘄𝗶𝗻𝗴 𝗝𝘂𝗺𝗶𝗮, 𝗔𝗺𝗮𝘇𝗼𝗻, 𝗮𝗻𝗱 𝗶𝗻𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗲-𝗰𝗼𝗺𝗺𝗲𝗿𝗰𝗲 𝗽𝗹𝗮𝘁𝗳𝗼𝗿𝗺𝘀 to master customer intelligence while they collect dust-gathering phone numbers? 🤔 The data is there. The customers are willing. The technology exists. What's missing is vision and execution. 💪🏾 How do we unlock this goldmine? 🔓 #RetailInnovation #CustomerData #AI

The European Mobile Payments landscape (part 2)👇 European domestic solutions and best practices: Out of 46 domestic European solutions analysed by Arkwright Consulting , almost 60 % (27 solutions) offer all three common payment features: P2P, ecommerce and point-of-sale (POS) (see Figure 2 for a map of solutions by feature below👇). Most of the prominent solutions like Swish (Sweden), BLIK (Poland) and TWINT (Switzerland) have expanded to cover the three use cases, leading to the working hypothesis that having all three is a key success factor. Notably, some like Bluecode (Austria) and iDeal (Netherlands) specialized as business-to-consumer platforms, a decision often rooted in a commercial focus. Furthermore, many solutions incorporate additional functionalities, including voucher redemption, bill splitting, and social features like chat or sharing videos and pictures in a social media-like environments. Looking at the European mobile payments landscape, there have been some notable, fast-growing cases, as shown in Figure 3 (see picture below👇). Through a combination of value proposition, marketing and commercial strategies, and market characteristics, these mobile solutions are achieving both high adoption and high usage in their market. Arkwright defines these as “best practices” based on their commercial performance: a critical mass of adoption > 35% of the total potential user pool in their market; and a number of transactions equivalent to >5% of the number of card transactions in their market. These are indicators of their relevance within their respective market landscapes. Satispay is an exception to this rule. Despite a relatively low market penetration (6%), it shows a relatively high utilization, which leads to the working hypothesis that it has a value proposition that makes it a payment solution of choice by its users. By pooling their transaction volumes, the solutions have benefited from a defined growth trajectory, with a compound annual growth rate (CAGR) of 52%, increasing from 0.7 billion transactions to 5.3 billion transactions between 2017 and 2022, as illustrated in Figure 4 (see picture below👇). Remarkably, this CAGR surpasses that of European card transactions, which stood at 9% within the same timeframe. Additionally, except for Satispay, all featured mobile payment solutions are either owned by, or receive support from, banking institutions within their markets. Read more in my post earlier: The European Mobile Payments landscape Part 1: https://lnkd.in/d3Ym9AYb And I highly recommend reading the complete #fintechreport for more interesting info on this topic: https://lnkd.in/exbrhFRS Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] 

𝐒𝐭𝐚𝐠𝐞𝐝 𝐖𝐚𝐥𝐥𝐞𝐭, 𝐭𝐡𝐞 𝐏𝐚𝐭𝐡 𝐭𝐨 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐈𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧🙌🏽   Recently, my attention has been drawn again to the concept of staged wallet. In this ever-changing digital era, the continuous technological evolution leads the industry to explore boundless possibilities and opportunities, amongst which the digital wallets and their unique approach to financial transactions💪🏽.   Staged digital wallets have gained particular attraction in the Middle East and African regions. They have emerged as an instrumental tool to achieve financial inclusion for many people in these regions where access to formal traditional banking systems are fairly inaccessible or limited.   𝗟𝗲𝘁'𝘀 𝗲𝘅𝗽𝗹𝗼𝗿𝗲 𝘁𝗵𝗶𝘀 𝗳𝘂𝗿𝘁𝗵𝗲𝗿...   ➡️Staged wallet breaks down transactions into two distinct stages, namely the funding stage and the payment stage.   ➡️During the funding stage, users can load their wallets with funds through various channels, such as linking bank accounts, credit cards, or mobile money services📱.   ➡️The magic happens in the payment stage, where the staged wallet takes on the role of a trusted intermediary between the purchaser and the merchant.   In the context of financial inclusion, staged wallets leverage the mobile phones infrastructure, telecom providers, financial institutions, and fintech companies to bridge the gap between the unbanked and the formal financial system. Unlike traditional mobile wallet applications that require downloads and installations, staged wallets can be accessed directly through mobile devices using existing features such as SMS messaging, USSD technology, or even web browsers. Additionally, staged wallets can facilitate cross-border transactions and international remittances, further promoting financial inclusion and connectivity across geographical boundaries.   This accessibility has been a game-changer, as it eliminates barriers to entry for users with limited access to smartphones or limited data connectivity and extend the reach of financial services to remote and underserved communities.   According to FXC Intelligence latest report, the e-wallet market in the MEA region continues to be favourable for mobile money e-wallets as mobile phone ownership far outpaces bank account ownership in this region:   👉 54% of the African population is unbanked and mobile phone ownership is at 61%.   👉For the Middle East, mobile phone penetration is at 81%, but bank account ownership is even less mature than in Africa, at 38%.    Link to report in comments   𝙋𝙖𝙮𝙢𝙚𝙣𝙩𝙨 𝙚𝙭𝙥𝙚𝙧𝙩𝙨, 𝙖𝙣𝙮𝙩𝙝𝙞𝙣𝙜 𝙩𝙤 𝙖𝙙𝙙?🎤   ---- 𝙇𝙞𝙠𝙚 𝙩𝙝𝙞𝙨 𝙘𝙤𝙣𝙩𝙚𝙣𝙩?   Follow Paypr.work [Consultancy • Training • Content Strategy]   ☑️Comment/Repost/Tag experts🤓 ☑️Become a Member https://lnkd.in/euRg2jF9💫 ☑️Collect a FREE ebook: https://learn.paypr.work 🚀   #paymentsinfographics #payprwork #fintech #payments101 #payments #stagedwallet #financialinclusion #mobilemoney

Convenience retail: where every penny counts Convenience stores operate on some of the tightest margins in retail. Rising energy costs, wage increases, and theft make cost management a daily battle. Yet, across the UK, independent retailers are showing how smart technology, process optimisation, and discipline can unlock significant savings. Several approaches stand out: • Staff productivity: Automating stock checks and order forecasting with advanced EPoS systems can save up to 12 staff hours per week – hours that can be redirected to customer service and sales. • Promotion cycles: Moving away from rigid four-week cycles towards staggered promotions avoids costly staff surges. One Stop Stores Ltd achieved ~£600 weekly savings with this approach. • Apps for operations: Low-cost tools like Connecteam simplify compliance, shift management, and reporting – reducing admin costs and preventing the need for extra hires. • Security discipline & smart locking: With UK shoplifting at a 20-year high, retailers like Costcutter ’s Peter Patel limit evening facings of high-value products. But there’s another evolution: grab-and-go cabinets that act as a “high value shop in the shop”, released only after credit card tap (or app) and potentially age verification. —> A leading example is Reckon.ai, a Portuguese startup whose AI and computer vision modules transform existing cabinets, fridges, shelves into autonomous smart units. —> Customers unlock the cabinet (via payment or authorized app), pick what they need, and simply close the door — all tracked in real time, with inventory updates and automatic checkout. —> This combines the convenience of self-service with the protection of a controlled environment. • Energy management: Smart plugs, timers, and recovery systems optimise usage. For heavy users, suppliers like SmartNest Energy, British Gas and EDF offer tailored contracts – but the key is short-term flexibility. • Cash handling automation: Smart safes digitise deposits, reduce errors, and free up staff from manual counting. The UK convenience retail market exceeds £47 billion annually, with over 46,000 stores serving millions. Efficiency at the execution level is not optional — it is a survival imperative. #retail #convenienceretail #fmcg #grocery #storeoperations #epos #retailtechnology #efficiency #staffproductivity #promotionstrategy #retailsolutions #energymanagement #sustainableretail #smartretail #security #cashhandling #lossprevention #retailsavings #omnichannel #automation #retailapps #ukretail #europeanretail #retailsecurity #retailinnovation #smallbusiness #ukbusiness #europebusiness #retailtrends #retaitech #foodtech

You don’t build loyalty through rewards—you reward customers for already being loyal. Big difference. Loyalty programs are primarily designed for customers who have already demonstrated consistent engagement and loyalty to your brand. The goal isn’t to create loyalty through rewards, but to recognize and strengthen it. By offering rewards, perks, and recognition, you can maximize their lifetime value, whether by increasing purchase frequency, boosting basket size, or encouraging referrals. Tactics like tiered rewards, exclusive access, and personalized incentives help reinforce their commitment and make them feel valued. 𝗦𝗲𝗰𝗼𝗻𝗱𝗮𝗿𝘆 𝗙𝗼𝗰𝘂𝘀:  For customers with the potential to become loyal, the strategy shifts. These customers have shown higher engagement but haven't fully crossed into the loyal customer category. To convert them, 𝗽𝗲𝗿𝘀𝗼𝗻𝗮𝗹𝗶𝘇𝗮𝘁𝗶𝗼𝗻 is key. Tailor rewards based on their behaviors and preferences to create a sense of exclusivity and recognition. It’s also crucial to stay top of mind through strategic touchpoints—whether via targeted email campaigns, loyalty app notifications, or personalized offers that speak directly to their interests. Offering a path to higher-tier rewards as they engage more frequently can further motivate them to commit to your brand long-term. 𝗖𝗮𝘀𝘂𝗮𝗹 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀:  Casual customers require a different approach. They won’t become loyal overnight, and the objective here is gradual nurturing. For this segment, it's all about increasing touchpoints and staying relevant. Broader offers, such as discounts, time-sensitive promotions, or entry-level rewards, help keep them engaged without overwhelming them. The goal is to activate them periodically, ensuring they interact with your brand from time to time. By keeping consistent offers flowing, you maintain visibility, and over time, some of these casual customers may transition into the potential loyal customer segment. ----- Ultimately, loyalty is about retention, not conversion. The focus is on maintaining a strong relationship with those who already support your brand and steadily nurturing others to deepen their commitment over time.

24 Activities That Drive Customer Loyalty: (Based on analysing 100+ profitable retention strategies) Most brands implement random loyalty tactics and wonder why customers leave. The truth? These 24 activities create different levels of impact and implementation difficulty: HIGH IMPACT, EASY TO IMPLEMENT: 1. Welcome Journey Optimization → First impressions that set the relationship tone 2. Behavior-Triggered Messaging → Right communication at exactly the right moment 3. Milestone Celebrations → Recognizing key achievements in the customer lifecycle 4. Birthday/Anniversary Rewards → Acknowledging personal moments that matter 5. Digital Loyalty Cards → Simple system with clear progress visualization  6. Referral Incentives → Turning satisfied customers into acquisition channels HIGH IMPACT, DIFFICULT TO IMPLEMENT: 7. AI-Powered Personalization → Truly individualized experiences at scale 8. Cross-Channel Recognition → Seamless customer identity across all touchpoints 9. Emotional Experience Design → Creating moments that generate lasting feelings 10. Predictive Churn Prevention → Identifying at-risk customers before they leave 11. Community Building → Connecting customers around shared interests and identity 12. Brand Story Integration → Weaving your mission into every interaction MODERATE IMPACT, MODERATE DIFFICULTY: 13. Tiered Status Programs → Creating aspiration to reach higher levels 14. Surprise and Delight Moments → Unexpected touches that create stories 15. Gamification Elements → Making loyalty feel fun and engaging 16. User-Generated Content → Involving customers in creating brand stories 17. Personalized Product Recommendations → Suggesting exactly what they need next 18. Feedback Implementation Showcases → Showing how you act on customer input LOW IMPACT, EASY TO IMPLEMENT: 19. Generic Discount Codes → Broad percentage savings on purchases 20. Basic Points Systems → Standard accumulation without personalization 21. Welcome Emails → One-time messages without behavioral triggers 22. Static Loyalty Tiers → Fixed benefits without personalization 23. Social Media Posting → Regular content without strategic engagement 24. Standard Feedback Surveys → Collecting insights without visible action The most successful loyalty strategies don't randomly implement activities. They strategically focus on high-impact initiatives that create lasting customer relationships and measurable business results. Follow if you want more loyal customers ✅

Supply chains are messy. Stockouts, delays, and unpredictable demand shifts can hurt sales and customer trust. But GenAI is changing the game. ● Instant data from everywhere Instead of waiting on reports, AI tools like Flexport and Blue Yonder provide real-time insights, helping stores maintain the right stock levels and optimize shipping. ● Handling the unexpected AI-powered systems like o9 Solutions analyze supply chain trends, while Project44 tracks shipments and predicts delays—helping e-commerce brands avoid fulfillment headaches. ● Faster, smarter decisions Need to know which supplier is most reliable or when to restock? GenAI delivers instant, data-driven answers—no manual digging required. The impact on #ecommerce: ✔ Better demand forecasting = less overstock and fewer shortages ✔ Smoother operations = faster shipping & happier customers ✔ Automated decision-making = more time for strategy, less time firefighting Retail giants are already integrating AI-driven supply chain solutions—will your store be next? #shopify