How one innovation will power 8 million retail businesses – today
There are three megatrends impacting business growth.
- The World Health Organisation expects by 2030 – the most significant cause of mental illness will be the workplace. Our work practises are often not fit for purpose.
- Workplace automation acceleration – Industry 4.0 – more human jobs replaced by AI + ML (Artificial Intelligence and Machine Learning). Millions of middle managers and teams will soon need retraining.
- No overarching plan – changes to the workplace and society more broadly. What is the meaning of work? Is the concept of a universal wage – when no work is available a sensible approach? The Parliaments seem no longer fit for discussing the significant issues confronting society.
Sustainable innovation is a growth engine – potential market sizes have to be large enough to matter. Otherwise, you will fritter away any advantages.
To succeed there has to be
- an unmet gap in the market,
- a technology that generates a solution,
- a business model to produce profits and revenue growth.
REWE – is a German retail giant. Their un-manned mini-marts bring daily groceries to rural Germany.
The nahkauf BOX standalone convenience store is open 24/7. Customers gain access by tapping their debit or credit card.
- A maximum of five people at a time are allowed inside.
- Customers scan their purchases at a self-checkout and pay by card as they exit.
The gap in the market is small regional communities with no supermarkets. The population base is around 2000 people.
The opportunity size – 8000 German municipalities are underserved.
The REWE BOX has a range of 750 SKUs within a 39 sq metre space. With no direct labour costs, it is possible to provide the lowest prices for these communities.
In France, Boxy’s unmanned mini-marts in shipping containers, are opening.
BOXY’S is around half the size of REWE BOX — 39 m2 vs. 15 m2 with only 250 SKUs.
Boxy’s technology approach follows Amazon Go supermarkets. Customers grab what they need and walk out.
The global potential – estimates of 8 million underserved regions in the world underscores significant growth opportunities.
But the opportunities do not stop.
Considering B2B and E-commerce businesses – they can deploy a cost-efficient retail Box within shopping centres and regional communities.
Consider B2B suppliers of office supplies and stationery: now it’s possible to challenge Officeworks.
Nearby shopping centre aisleways and car parks offer locations where Boxy’s business model can unlock growth potential for retail office supplies.
How can your business challenge the status quo and grow faster?
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If you have read this far, thank you for your attention. It means a lot. I hope this helped you even a little bit in better making sense of this topic. If so, please share it with a friend who might also benefit from it.
Thanks for reading,
David
