Retail Companies Reinventing Themselves or New Players

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New Retail Companies Using Data/Digital Tools

Wowma and Scandinavian Man are two new/re-branded retail companies that used digital tools to increase customer experience. Wowma is an internet shopping market from Japan, while Scandinavia Man is an e-commerce retail market from Sweden.

WOWMA

Challenge

  • It identifies the boundaries between online and offline retailing such as industry fragmentation, diversified needs of consumers, and consumers' different lifestyles, in which Wowma as an internet shopping company wanted to produce a more convenient services that would enhance the lives of its customers.
  • One of the issues faced by Wowma was the logistics in the delivery services.

How the company use the data/digital tools

  • Wowma partnered with Okinawa Cellular Telephone Company and Rakuten Inc., to strengthen the competitiveness and improve customer experience by providing convenience. Wowma uses its cutting edge technologies and digital tools, such as IoT, 5G and AI, to advance its initiative "Maximizing the au Economic Zone."
  • Also, Wowma will use Rakuten's Delivery vision to provide efficient delivery services, which will broaden the domestic e-commerce market.
  • Additionally, it aims to boost its payment services with au Wallet, au Wallet credit cards, and pre-paid cards. The company is also planning to provide barcode or QR code payment services through au PAY, which launched in April 2019.

SCANDINAVIAN MAN

  • Its location is Stockholm, Sweden.
  • Scandinavian Man was founded in 2016 and initially operated as a fashion magazine. However, it was reinvented in 2018 and an e-commerce platform was developed by combining retail fashion and journalism.
  • Here is a link to its website.
  • Initially beginning as a fashion magazine, Scandinavian Man is currently an e-commerce platform that markets Nordic fashion and lifestyle. The company is still in a funding series where the latest round was in April 2019, raising a total of $430,000.

Challenge:

  • Scandinavian Man wanted to establish a single fashion platform where fashion content and products would be available for shoppers as consumers mostly shop via the internet (i.e. social media, virtual shops). It wanted to offer a single point with flexible services to meet customers' demand in real time and in a manner that is straightforward.
  • It is also aiming to drive and promote Nordic men's lifestyle and fashion on an international scale where men are more open to the concept of online shopping as they are more comfortable in making shopping decisions in their own home.

How the company use the data/digital tools

  • Through a collaboration with Tieto, it created an e-commerce and marketplace platform using a Market Accelerator tool and cloud-native architecture to develop "a highly experimental environment with an end-customer oriented focus." The Market Accelerator "automated integrations of external fashion companies' retail systems" in which products will be exhibited and marketed in Scandinavian Man's e-commerce shop.
  • The platform will perfect the matching of curated selection of the premier Nordic lifestyle and fashion trademarks that will unite fashion enthusiast and Nordic brands.

Research Strategy:

We have provided the required information by identifying two retail companies (new and re-branded) that uses digital tools to enhance customer experience. However, the optional criteria of providing success metrics of the use of data/digital tools were not available as these digital transformations were just recently implemented.
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