Dr Patrick Dixon, YouTube Futurist Keynote Speaker -
Recent Futurist YouTube Videos - Keynote Speaker
70% of UK retail spend is captured by only 7-8 companies. 50% of all EU retail spend is captured by only 10 retailers. The future of retail is massive scale and consolidation - farming, clothing, fast moving consumer goods, digital and so on - warehousing, logistics, supply chains, giant stores etc. Truth is that most retail outlets in the world are in emerging markets where 85% of all retail customers live, and 99.5% of them are the size of a shipping container or smaller, much smaller if you include informal street traders. We can debate about the speed of the trend or how far consolidation will go but Europe is pointing the way ahead. Of course the upside is astonishing efficiency which means lower prices usually, but the downside is lack of choice. Take bookselling: outside of major chains, there are few book outlets today in Europe, and most of them are small. But big chains only have limited shelf space so only a fraction of the 200,000 new titles in the UK each year will ever make it to a supermarket shelf. The rest will mostly have to fight online for attention of readers. Books are one thing, but fashion is quite another. If you wander into Shopping Malls from Beijing to Rio de Janeiro you find the same thing: almost identical chains selling identical range of items. Same in airport Duty Free areas globally. So shopping is becoming very boring - an additional factor driving online sales and further contraction in traditional retail outlets.
Read more: Future of Retail in Europe, India, China, America, Africa - mergers and mega scale. Future of physical retail and online retail. Lessons for retail in emerging markets. Futurist Retail Keynote - VIDEO / POST
Dr Patrick Dixon, YouTube Futurist Keynote Speaker -
Recent Futurist YouTube Videos - Keynote Speaker
Comment after Future Banking keynote for Wolters Kluwer in Portugal: Expect radical changes in banking, driven by emotion as well as tech. For example in Germany, % of economy traded online is only 25% of that in the UK because of differences in trust re online payments. Expect loads more bank mergers: only 2 mobile phone operating systems in world; 2 major airline builders; 6 major auto companies BUT 26,000 banks / credit unions, while costs spiral / bank with regulation, cybersecurity etc. Major challenge to mergers will continue to be legacy systems since 97/100 largest banks globally still using cobol-based 1980s type systems on IBM hardware, costing on AVERAGE $100m to maintain EACH, with massive headaches to integrate to or more such dinosaurs after every merger or acquisition. Comment after keynote on future of banking for Wolters Kluwer. Comment after Future Banking keynote for Wolters Kluwer in Portugal: Expect radical...
Read more: Future of Banking and Payments - Futurist keynote on financial services - banking scale, bank legacy systems, banking cybersecurity threats and customer expectations in retail banking - BANKING TRENDS VIDEO / POST