Artificial Intelligence

It may only be October, but here’s a prediction: It’s going to be a high-tech holiday, and I’m not talking about the gift-giving part of it. (Although in a refrain I think will play out in countless homes over the next couple of months, my 20-year-old godson has told his family the ONLY thing he wants for Christmas is a new Apple phone.)

But the big story this year is likely to be retailers’ increased use of emerging technologies that bring the digital and brick-and-mortar worlds together.

As the traditional CFO role expands beyond accounting and compliance to a more strategic role and partner to the CEO, the capabilities that future CFOs will need to bring to the table are also evolving.

Ace Hardware has saved an average of 81% on lighting-related energy use in its 1 million-sq.-ft. retail support center in Rocklin, California, since implementing a LED upgrade.

The upgrade, completed in October 2013, involved replacing 1,551 T5 fluorescent and 102 metal halide lamps with an intelligent LED system from Digital Lumens.

By Bill Davis, Director, MB&G Consulting

A global report by Capgemini, a leading provider of consulting, technology and outsourcing services, claims that consumers consider social media a less important part of their customer journey — from awareness, through to post-sale activity — compared to two years ago.

Defining the scope of a CFO’s oversight is challenging because it’s still evolving. Besides the overarching responsibility of overseeing and reporting finances, the role now often includes strategic planning, technology and investor relations.

New areas of reporting, including corporate social responsibility and environmental performance, are also being added.

Helping customers achieve a perfect fit the first time around is the holy grail for many online retailers, and there’s little mystery why: A less-than-ideal fit is the No. 1 reason online purchases are returned. It’s difficult for a consumer to visualize how an item on a digital screen will look on their body. It’s especially challenging for women’s apparel because no two brands size their products the exact same way.

Keeping stores in peak condition remains the top priority of retail facility managers, who are increasingly being asked to do more with less. Chain Store Age spoke with Lauryn Blank, CEO of Global Facility Management & Construction, about the impact of technology on store maintenance and other trends. She also provided some timely advice for winter challenges.