Tech Bytes: 06.21.2017

June 21st, 2017

Topics: Customer eCommerce Finance Future of Work Mobile Products / Services Talent & Workforce

Tech Bytes

Amazon Purchase of Whole Foods Is Great for Amazon – The acquisition of Whole Foods by Amazon is seen as a huge win for the ecommerce giant. They get an immediate grocery footprint in all of the markets they care about most, a high-quality network of distribution centers (something Amazon loves) which have refrigerated warehouses, and a brand that resonates with the Prime crowd. But there’s more to the story. Amazon loves data and information – something Whole Foods has. Not customer data, but the details on suppliers and product that Amazon loves to provide its customers. They also get a ready-made store footprint with tech-savvy customers potentially open to using cashier-less checkout systems. And that is the challenge for the industry – how to remain competitive with an Amazon-led move toward automation.

Still, analysis shows that over the last 60+ years, very few jobs have been totally eliminated due to automation:

Are we hitting a turning point in automation? The Amazon acquisition of Whole Foods will be a very good predictor for other sectors.

Netflix Pushes Past Traditional TV Rules, Yet Again – Netflix has never been a company to follow rules. This time, it’s using its huge platform and user base to launch choose-your-own-adventure TV programming aimed at engaging young children. This melding of TV and concepts more commonly associated with gaming generates a large question – what is television?

Venmo Ups Its Game with Instant Bank Transfers – Venmo is incredibly popular with millennials, and now agreements with Visa and MasterCard make money transfers on the service almost instantaneous. No longer will you have to wait a day for your bank/credit card company to verify and confirm fund transfers. The service allows the platform to match Zelle and SquareCash, which both offer similar reconciliation speeds. The question remains – where are the banks? They actually own this data and should be able to execute these types of services themselves, but have ceded the user experience to FinTech players, like Venmo and Square.

Millennials Support Social Causes Wit Their (Growing) Purchasing Power – As Boomers retire, Millennials are the growing force driving the future of commerce. That power is being put to very specific use and includes a social consciousness that demands changes from brands seeking their dollars. Will that commitment to social causes fade with age? Who knows, but for now millennials are driving huge growth in companies not typically seen as symbols of success – everything from shopping at local farmers’ markets to understanding the environmental impact of their clothing. The center visited the Levi Strauss Eureka Lab this week as part of our Roundtable on Digital Strategies events. At the offices of the global denim leader, significant discussion was centered around environmental impact and traceability. Levi Strauss has reduced its environmental impact to the tune of millions of gallons of water saved and reduction in the impact of its chemicals used to prepare and finish the popular jeans. Perhaps that’s why Levi is hot with millennials.

Featured CXOTalk Video of the Week: SAP’s Millennial CIO: The Changing Role of IT
The Chief Information Officer role is changing dramatically, driven by shifts in expectations from external customers, internal clients, and business leadership. For the CIO, this means rethinking relationships with all these groups. In this episode, we talk with a Millennial CIO to learn from his perspective on the evolving role of IT.