Are brick and mortar stores losing the battle against online shopping?
Join Brett St.Clair from Virgin Media O2 (VMO2) and our CEO, Daniel Martinho-Corbishley as they share insights on our collaboration and how it's helping VMO2 tackle the challenges faced by traditional retailers. From a successful proof of concept to the rollout of Aura Vision's cutting-edge computer vision technology in over 300 VMO2 stores, we've revolutionized the in-store experience. Our technology enhances customer engagement, making every visit to VMO2 stores more personalized and immersive.
This partnership highlights the power of collaboration between a corporate giant like VMO2 and a startup disruptor like Aura Vision. By combining our expertise, we've enabled VMO2 to stay competitive and thrive in the rapidly changing retail landscape.
Here are a quick summary & some highlights from the conversation:
Brett started as a manager of a BT shop, which eventually became O2 after being demerged from BT CellNet. O2 was later adopted by Telefonica, and now VM02 is a joint venture between Telefonica and Liberty Global, operating under the powerful joint branding of Virgin Media O2.
When discussing the future of physical stores, Brett emphasized the importance of giving people a purpose and a reason to visit. He believes that purely transactional experiences won't be the driving force behind bricks and mortar stores going forward.
Brett acknowledged the challenges of adapting VMware to the changing retail landscape. One significant shift was introducing a mobile plan where airtime and device costs were separate. Educating both employees and customers about this change was crucial. Brett highlighted the importance of utilizing data and applying a problem-solving methodology like Lean Six Sigma to identify root causes and implement effective solutions.
Brett recognized the need for richer customer data to meet business growth strategies and prioritize customer-centricity. Through their collaboration with Aura Vision, a startup specializing in store analytics, VM02 was able to scale full store analytics across a large number of retail stores, providing valuable insights for the first time.
Brett emphasized the importance of aligning with the company's purpose and always keeping the end customer in mind. When it comes to corporate innovation, he advised leaders to ensure their ideas have a meaningful impact on customers. For startups seeking collaboration with corporates, Daniel, Aura Vision's CEO, advised defining clear goals and effectively communicating them to stakeholders, while remaining adaptable and flexible throughout the process.
“From the startup's perspective, if you can define that and build that and then communicate that to the stakeholders you're working with, that's fantastic, sometimes, The corporate will have its own process. Maybe it's for innovation or for procurement, for example. So as a startup, you do have to sometimes be adaptive and flexible, but so long as you are both agreed on what that process is and what kind of the end criteria are for success, then that's gonna lead to success for everyone involved in the project.” - Daniel
Curious to learn more about VMO2 and Aura Vision's journey and the secrets behind transforming physical stores into engaging destinations? Tune in to the full podcast episode now!