Coles Supermarkets Interview: Balancing Innovation Investment with Retail

Prior to the Rethink! Internet of Retail Minds 2018 we had a chat with Ian Burl, Coles Supermarkets Australia, on new business models enabled by IoT and his presentation during the event.

Ian Burl: Connecting the existing infrastructure, e.g. trolley, shelf, product and connecting the various channels for the customer to experience integration, e.g. connecting offers and food solutions to locations and individual customer needs.

Ian Burl: Firstly, the cost and complexity of integration and secondly the relative low current value.

Ian Burl: I think removing the friction as much as possible from the checkout will be the most significant evolution in retail for many years.

Ian Burl: Ultimately lower costs to service and more accurate just in time scheduling or less inventory will all lead to lower prices for customers.

Ian Burl: I think the various facets of IOT are developing at different speeds and the interdependency may create some drag, furthermore I don’t think industry has the skills to use it all either. I think retailers all over the world will aim to be better than ever in B+M and enhancing the customer experience with a focus on using data and existing tech eco-systems to tailor the customer experience.

Ian Burl: For sure, but I think the more significant impact will be consolidation of existing retailers and start ups as well as more partnerships between retailers and tech companies.

Ian Burl: We are using it in all kinds of ways, the most practical right now in my opinion is tracking equipment and usage e.g. ovens and fridges enabling us to significantly reduce maintenance costs and expensive equipment down time.

Ian Burl: Keen to gain a deeper understanding of the work retailers around Europe are doing in this space.