2013-04-16

Treasure Trove Of Retail Startup Ideas Right Here

We've selected the key pain points for startups from 20 areas of frustration for big retailers surveyed in the U.K., according to an interview-based study by the consulting arm of electronics-maker Hitachi.



Here are the pain points which might be the most feasible to address with a startup software product. (Note that in the context below, BI stands for business intelligence.) Via Hitachi:

Hitachi Consulting conducted qualitative interviews with 20 of the UK's leading retailers, including Debenhams, Waitrose, River Island, Halfords, Shop Direct Group, Thorntons Plc, TK Maxx, BHS, Argos, Signet Trading and ATS Euromaster among others. The report identified 20 areas of IT focus (and frustration) for UK retailers in 2011:
2. Managing business expansion into new markets, including through joint ventures and franchises
3. Tailoring brands, ranges and promotions to multiple or new channels and markets
5. Reporting capabilities not keeping pace with business demands
7. Customer data locked in source systems and not available in corporate information systems
8. Difficulty in extracting and manipulating meaningful data from corporate information systems
10. Almost every job function is less than very satisfied with their BI provision
11. Those in online are significantly more satisfied with their BI services than those in multichannel
12. BI is not closely enough integrated to the business process
13. There's a strong appetite to get closer to real time information
14. Information requires significant rework before it can be presented
15. 'Spreadsheet Spaghetti' is still prevalent
16. Desire to improve data reporting capabilities, including dashboards and complex analysis
17. Mobile is still not central to BI plans


Backtrack by reading our series about how Software Is Changing The Future Of Retail.

[Image: Flickr user David Sifry]




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