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Dumb Pipes, Dumb Shelves, Smart Wallet

Dumb Pipes, Dumb Shelves, Smart Wallet. It gets worse before it gets better. The future is mediocre. Convenience. Convenience. Convenience. Experience. Experience. Experience. Price. Price. Price. Past. First there was only Local Mom & Pop Large Chains Early Internet shopping

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Dumb Pipes, Dumb Shelves, Smart Wallet

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  1. Dumb Pipes, Dumb Shelves,Smart Wallet It gets worse before it gets better

  2. The future is mediocre Convenience Convenience Convenience Experience Experience Experience Price Price Price

  3. Past • First there was only Local • Mom & Pop • Large Chains • Early Internet shopping • Cheaper prices • Lots of guesswork

  4. Present • Mobile Age + Maturing Internet • Enabled the combination of Local + Internet • Showrooming= best of both worlds • Forced Transparency in • Pricing • Product Information • Side effect: forced Locals to compete on price • Price match with Internet retailers • Sacrifice experience to compensate for price

  5. Present: Developing… • Local Deals Revolution (failure?) • Internet retailers unite to weaken Amazon • ShopSavvy Wallet • Shipping Innovations • Hotels, Flights, Wireless Carriers, Music • Pricing Games (numbing effect) • Price goes up if you’re a member of Prime • Camera price cheaper in the morning • $1MM book

  6. The future is mediocre Convenience Convenience Convenience Experience Experience Experience Price Price Price

  7. Future: Pricing • Fight against Showrooming • Misdirection around local prices will finally work due to the numbing effect happening on the Internet • A DIFFERENT PRICE FOR EACH PERSON • Ability to pay • Economic status • Hidden behind a sophisticated mix of variables like: Loyalty & Social Influence • The End Goal • The Illusion of savings • How can I compare prices when I don’t even know what this will cost me post-tweet?

  8. Future: Coupons • Reinforces the concept of “a different price for every person” • Complex rules • The more hoops you jump through the lower the price will go. • “Influentials” will get items for free. Others pick up the slack in cost. • New status quo • Instead of haggling with the merchant, you must play into their games

  9. Future: Wallet • The digital wallet enables these innovations • Further abstraction from the “real price” by ubiquitous use of store-based currency, e.g. Star”bucks.” • Think store credit but next level • Not a 1:1 ratio to dollars – confusion • Enables issuing “credit” without regulation • Directly connect your wallet to credit, checking or even your company’s payroll system.

  10. Future: NFC • Yes but SLOW adoption • Value-add in all the wrong places • Faster than “swipe” • NFC prices are the same as plastic prices • Yet another channel for ads • Big brother • Leave your wallet at home? • If it relies on its ubiquitous nature, it depends wholly on reaching a critical mass point

  11. The future is mediocre Convenience Convenience Convenience Experience Experience Experience Price Price Price

  12. Distant Future • Technology enables cat & mouse games • Self correcting

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