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Every Company Wants to Become a Tech Company–Even if It Kills Them
March 8, 2019 | WSJ | By John D. Stoll.

Wall Street loves a good reinvention story. The tough part is finding a happy ending.

All the plots seem to go something like this: Every company wants to convince us it’s becoming a tech company–even if it kills them..... an increasing number of companies are at least dabbling in new tech ventures to improve operations......The boom in vendors offering affordable ways to crunch data or utilize cloud computing, for instance, unlocks new strategies for companies across a wide variety of industries........Planet Fitness Inc. is one of the interested companies. The gym boasts 12 million members but CEO Chris Rondeau admits the company knows relatively little about them.

“Besides checking in the front door, we don’t know what members do,”.....The company is spending millions to retool certain treadmills and cardio equipment to better collect data as people exercise, commissioning a new smartphone app, and wants to tie into its customers’ wearable technology....many other CEOs aren’t convinced they have the luxury (of time to take things slowly). Even if it is hard to figure out what to do with all the data gathered and tools employed in the course of regular business, paralysis is not an option. Like a shark, they feel they need to keep swimming or die....... Nokia Corp., the Finnish company, started as a pulp mill in the 19th century and then branched off into various industries, including a successful venture into rubber boot making, ditched its failed mobile handset unit in 2013 to focus on a networks business that was thriving under the radar. Today, it’s locked in a high-stakes race to deploy 5G technology......In 2000, Major League Baseball owners committed $120 million to fund MLB Advanced Media. It aimed to infuse technology into the game and resulted in initiatives like online ticket sales and expanded radio coverage. The gem of that initiative, however, was a streaming television network launched in 2002...... it has attracted outside clients, such as ESPN, the WWE Network, Playstation Vue and HBO. The Walt Disney Co. acquired control recently for nearly $3 billion.... Dunnhumby Ltd., the data and analytics consultancy owned by European grocery chain Tesco PLC. Tesco bought Dunnhumby after it created the chain’s loyalty-card program. Dunnhumby ballooned into a storehouse of information and amassed clients and partners...Searching for the next BAMTech or Dunnhumby is now a religion at many companies......Walmart Inc., which has already heavily invested in e-commerce, wants to take its technology, marry it with everything the world’s largest retailer knows about us and use it to get into the advertising business......“Everyone’s thinking ‘we’ve got a ton of this stuff (data), how do we use it,’” Executives are trying to answer that question by hiring outside firms to analyze trends or setting up in-house units for experimentation.

Walmart is dumping digital-marketing agency Triad, a unit of WPP PLC, and will try its hand at selling advertising space. Armed with a trove of shopper data and connected to a chain of suppliers wanting to place ads in stores and on websites, Walmart hopes to challenge Amazon.com Inc. on this new front......At Ford Motor Co. , CEOJim Hackett envisions a day when automobiles roam streets collecting data from the occupants and the cars’ behavior like rolling smartphones. This is part of that “mobility as a service” vision car makers peddle.......“Corporations tend to reward action over thinking,”“But the truth is…you’ll find the companies that didn’t do the deep thinking and acted quickly have to redo things.
BAMTech  digital_savvy  Dunnhumby  experimentation  Ford  in-house  Jim_Hackett  massive_data_sets  MLB  Planet_Fitness  reinvention  Wal-Mart  mobility_as_a_service  technology  under_the_radar 
march 2019 by jerryking
A Year After Amazon Devoured Whole Foods, Rivals Are Pursuing Countermoves - WSJ
By Heather Haddon
June 10, 2018

Amazon.com Inc.’s AMZN +0.30% year-old acquisition of Whole Foods is prompting the food industry to retool how it sells fresh food to consumers....The deal has been “shaking up the food industry from top to bottom,” said Angela Spivey, a food-and-beverage attorney at McGuireWoods LLP, who is advising clients on how to quickly change their packaging and marketing to sell at Amazon and Whole Foods. “Don’t be surprised if the milk and cereal just shows up at your door based on your usual eating habits.”

Food retailers, manufacturers and other suppliers have begun to make fundamental changes to their selling strategies, driven partly by stronger sales and delivery from Whole Foods stores since the acquisition.....Grocery chains have accelerated planned investments in online delivery and pickup services, in some cases bumping plans ahead to two- to three-year timelines instead of five to seven years, .......Dozens of supermarkets have struck deals with Instacart Inc., an online grocery-delivery service that has expanded to more than 200 retailers from 30 before Amazon’s deal. .......After Amazon extended discounts at Whole Foods to Prime members—which will help it gather data about shoppers’ preferences—analysts said competitors might need to update their own shopper-loyalty programs. Amazon now offers free, two-hour delivery and additional 10% discounts on several hundred items for Prime members in select areas.

Many food makers are redesigning their packaging and formulas to better sell through Amazon and Whole Foods, placing an emphasis on online repeat purchases instead of impulse buys, industry consultants said......Whole Foods has focused on getting competitive on staples, said Guillaume Bacuvier, chief executive of Dunnhumby, an international retail consulting and technology firm that Whole Foods hired to help improve consumer analytics.
Amazon  Amazon_Prime  BOPIS  contra-Amazon  Dunnhumby  food  grocery  Instacart  perishables  supermarkets  Whole_Foods 
june 2018 by jerryking

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