We believe with the ongoing and accelerating growth of digital/ecommerce including both omnichannel and pure play, as well as increasing labor costs will radically alter retail profit and loss statements. FMI sees the above technologies as both disrupters and enablers of new economics and a new operating model at retail.
<div> <p paraid="1439206743" paraeid="{d9161267-2e44-4fb8-8a53-0762bf6fab8e}{178}">By: Doug Baker, Vice President, Industry Relations, FMI </p> </div> <div> <div class="mg-image--circular" style="float: right; margin: 10px;"> <p paraid="6808092" paraeid="{d9161267-2e44-4fb8-8a53-0762bf6fab8e}{182}"><img src="https://www.fmi.org/images/default-source/photos-for-staff-use/online-ordering/20171129-fmi-home-shoot-0751_ed.tmb-medium.jpg?sfvrsn=1a23786e_2" data-displaymode="Thumbnail" alt="20171129-FMI-Home Shoot-0751_ed" title="20171129-FMI-Home Shoot-0751_ed" /></p> </div> A few months ago, FMI partnered with Center for Advancing Retail & Technology, LLC (CART) and published a white paper, <a href="https://www.fmi.org/forms/store/ProductFormPublic/its-time-for-a-covid-19-technology-checkup-a-prescription-for-food-retail" target="_blank" rel="noreferrer noopener">It’s Time for A COVID-19 Technology Checkup</a>, focusing on timely food industry technology. <p> </p> </div> <div> <p paraid="1946114627" paraeid="{d9161267-2e44-4fb8-8a53-0762bf6fab8e}{220}">After identifying the technology areas of focus for needed capabilities as the industry emerges into a post-pandemic world, we teamed up further with nine companies with thought leadership and experience in key technology growth areas. </p> </div> <div> <p paraid="1681580203" paraeid="{d9161267-2e44-4fb8-8a53-0762bf6fab8e}{232}">We identified the need to understand the impact that Robotics, Artificial Intelligence, Machine Learning, Augmented Reality, and Virtual Reality will play in the retail operating model, going forward. There is consensus among the FMI membership that many if not all the above enabling technologies will significantly impact current retail economics, however, ultimately resulting in a lower cost to serve the consumer. </p> </div> <div> <p paraid="1900582344" paraeid="{d7c8e113-9971-4e50-8625-1eaf1043f021}{94}">We believe with the ongoing and accelerating growth of digital/ecommerce including both omnichannel and pure play, as well as increasing labor costs will radically alter retail profit and loss statements. FMI sees the above technologies as both disrupters and enablers of new economics and a new operating model at retail. </p> </div> <div> <div> <p paraid="382496491" paraeid="{d9161267-2e44-4fb8-8a53-0762bf6fab8e}{242}">To begin this understanding, FMItech has launched a TechTalk Series that will begin September 8th and continue through November. I will team up with Gary Hawkins, CEO of CART for conversations with professionals from Mercatus, FlexEngage, Movista, and Scriptsave. </p> </div> <div> <h5>Join the TechTalk series, free to FMI members and available to non-members for $59. </h5> </div> <div> <ul role="list"> <li data-leveltext="" data-font="Symbol" aria-setsize="-1" data-aria-posinset="1" role="listitem" data-aria-level="1"> <p paraid="2122854607" paraeid="{e717852d-341f-41b7-885b-de74781a8698}{5}"><a href="https://www.fmi.org/forms/meeting/Microsite/Mercatus">Ecommerce in the time of COVID-19 brought to you by Mercatus</a>, Tuesday, September 8, 2020 </p> </li> <li data-leveltext="" data-font="Symbol" aria-setsize="-1" data-aria-posinset="2" role="listitem" data-aria-level="1"> <p paraid="1909462434" paraeid="{e717852d-341f-41b7-885b-de74781a8698}{13}"><a href="https://www.fmi.org/forms/meeting/Microsite/Flexengage" target="_blank" rel="noreferrer noopener">Contactless Shopping, Transacting, and Delivery brought to you by flexEngage</a>, Thursday, September 10, 2020 </p> </li> <li data-leveltext="" data-font="Symbol" aria-setsize="-1" data-aria-posinset="3" role="listitem" data-aria-level="1"> <p paraid="1890822443" paraeid="{e717852d-341f-41b7-885b-de74781a8698}{21}"><a href="https://www.fmi.org/forms/meeting/Microsite/Copy_of_Movista" target="_blank" rel="noreferrer noopener">The Digital Imperative brought to you by Movista</a>, Tuesday, September 15, 2020 </p> </li> </ul> </div> </div> <div> <div> <ul role="list"> <li data-leveltext="" data-font="Symbol" aria-setsize="-1" data-aria-posinset="1" role="listitem" data-aria-level="1"> <p paraid="126490545" paraeid="{e717852d-341f-41b7-885b-de74781a8698}{33}"><a href="https://www.fmi.org/forms/meeting/Microsite/ScriptSave" target="_blank" rel="noreferrer noopener">Technology, Health & Hygiene During the Pandemic brought to you by ScriptSave</a>, Wednesday, September 23, 2020 </p> </li> </ul> </div> <div> <p paraid="808829466" paraeid="{e717852d-341f-41b7-885b-de74781a8698}{43}"><strong>All TechTalks are 2:00 PM ET / 1:00 PM CT / 12:00 AM MT/ 11:00 AM PT. <br /> <br /> </strong> <a href="https://pages.services/fmi.org/techtalk-series-2020/" class="button">FMI & CART TechTalk Series</a></p> </div> </div>
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