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Retailers Who Offer IoE Experiences Can Capture 15.6% Profit Improvement- Cisco

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Actually, the digital consumer has come of age and expects a rich palette of retail experiences that provide ever-increasing value and convenience both in-store and out.

On Monday, Cisco released survey findings from 1,240 retail consumers in the U.S. and U.K. that uncover their preferences for Internet of Everything (IoE) enabled retail experiences and provides insight to help retailers capture the new digital consumer through IoE innovations fueled by mobility, video, and analytics.

Retailers in Nigeria can also benefit from the study findings to grow their fortunes.

The research is part of a global study that when fully completed will survey 6,000 consumers in 10 countries.

Key Highlights From The Study:

Customers Want a Convenient, Contextually Relevant Shopping Experience

The fifth annual Cisco® Consulting Services retail survey found that most shoppers want innovations that improve convenience and efficiency, extending beyond personalization into hyper-relevance.

Cisco said that hyper-relevance delivers value—such as greater savings, efficiency, or engagement—in real time throughout the shopping lifecycle, using analytics to determine the experience that best suits the customer’s context (where he is, what she is looking to accomplish in that moment).

Also, analytics helps retailers track in-store patterns and use existing video technology to determine, for example, where shoppers are spending more time in the store and which shelves need restocking, information that can immediately be used to improve shoppers’ experience and drive better store performance.

When asked to identify primary areas for in store retail improvements, 39 percent of consumers identified the process of selecting and purchasing goods – for example, having the products they want in stock and an efficient checkout process.

By contrast, 13 percent chose a more personalized shopping experience.

That is not to say that customers don’t want personalization at all, but consumers made it clear that targeted offers must be contextual, relevant, and easy to participate in.

Digital Consumers Exhibit Strong Interest in IoE-Enabled Experiences, Creating Savings, Efficiency and Engagement

To help provide guidance to retailers on where and how to make their strategic innovation investments, Cisco tested 19 different shopping concepts with consumers in its survey.

Together, these provide a snapshot of consumer receptivity to new IoE-enabled innovations in the shopping experience.

These use cases are at the heart of the IoE value that is up for grabs for retailers in terms of revenue uplift and employee productivity. For an illustrative $20 billion retailer, these use cases drive a total gross annual value opportunity of $312 million and a 15.6 percent improvement in profitability.

Product Delivery

Drive-Through Lane at Store (57 percent): Order products online from preferred retailers, and then pick them up in person using a drive-through lane at the store.

Same-Day Delivery (53 percent): Same-day delivery at home of orders placed online for a fee of $5 per delivery.

Secure Locker (40 percent): Pick up online shopping orders from a secure locker at a convenient location.

Augmented Reality

Augmented Reality Offers (73 percent): Use a smartphone to scan products for special customized offers and promotions in the store.

In-Store Guidance (63 percent): Use augmented reality apps to help locate items on their shopping list in the store.

Reviews (57 percent): Use augmented reality apps to receive information about products, such as online consumer reviews or ingredients.

Mobility Enabled Shopping

Smartphone and Tablet Apps Are Becoming the Norm: Nearly half of consumers (42 percent in the U.K. and 47 percent in the U.S.) are using smartphones to enhance their in-store experience.

About one-fourth of U.K. shoppers and one-third of U.S. shoppers are using independent shopping apps on a smartphone or tablet at least once a week.

Smartphone Checkout (60 percent): Scan barcodes on items while shopping to track and pay at a self-service checkout.

Smart Cart (50 percent): “Smart online shopping cart” uses information from smart home appliances, purchasing history and items added by the consumer to maintain a constantly updated virtual cart reflecting current purchase needs.

Mobile Payments (49 percent): Store several payment cards on smartphones and smartwatches to pay in stores by swiping the device at the checkout.                                                                                        

Interactive Digital Signage

Checkout Wait Times (77 percent): Want digital signs at each checkout line to provide estimated wait times.

Targeted Offers (67 percent): View offers tailored to their interests and preferences.

In-Store Maps (67 percent): Obtain information about the location of a product in the store and the best path to get there.

IoE is shaking up the competitive dynamics in nearly all industries — particularly retail, which accounts for $1.5 trillion of the total private sector Value at Stake.

Much of the Value at Stake for retail will be generated by innovations that depend on real-time analysis of data that is captured at the edge of the business from sensors, cameras and mobile devices.

To meet the needs of new digital consumers and attain their potential Value at Stake, retailers need to increase their focus on innovations that deliver hyper-relevance, build a dynamic infrastructure and agile processes that enable hyper-relevance and develop new business models that drive innovation and hyper-relevance.

Cisco offers a portfolio of mobility, interactive digital services platforms, video collaboration, analytics, and cloud computing solutions that help retailers provide more efficient and more engaging shopping experiences to their customers.

Speaking on the trend, Joseph Bradley, vice president & founder IoT / IoE Practice, said “The opportunity ahead is tremendous. Of the $14.4 trillion in IoE value for the private sector, $1.5 trillion is there for retailers. The key to capturing this value is realizing that digital consumers aren’t static—they’re dynamic. And IoE’s connections between people process, data, and things now enable retailers to engage with customers on their terms—whether rushing through the airport to catch a flight or spending more time than usual in the shampoo aisle.”

Also, Doug Stephens, founder, Retail Prophet, added, “If a retailer thinks that at some point this is going to slow down, and that they have time to wait and then jump in, they’re wrong. Because these rates of adoption — the speed at which technology is moving — is becoming more exponential and will continue to do so.”

Cisco is the worldwide leader in IT that helps companies seize the opportunities of tomorrow by proving that amazing things can happen when you connect the previously unconnected.

 


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Kaspersky Contributes to Joint INTERPOL-AFRIPOL Operation Combating Cybercrime Across Africa

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Kaspersky has recently assisted its partner law enforcement agencies INTERPOL and AFRIPOL in a joint effort to disrupt cybercrime across the African region.

Dubbed “Serengeti,” the operation has led to the arrest of more than 1,000 individuals suspected of links to cybercrimes such as ransomware operation and business email compromise (BEC) attacks, resulting in nearly US $193 million in financial losses worldwide.

As Africa is going through a rapid digitisation, the threat of cybercrime on the continent is also escalating. In the African region in general and West Africa in particular, ransomware emerges as one of the most prominent attack vectors, targeting critical infrastructure, financial institutions, and manufacturing facilities, among others.

During the first 10 months of 2024, ransomware detections in West Africa surged by 36% year-on-year, according to Kaspersky data. Other noticeable cyberthreats targeting users and organisations in the region include spyware and password stealers.

Conducted from September 2 to October 31, operation Serengeti dismantled 134,089 malicious infrastructures and networks linked to cybercrimes including ransomware operations, BEC attacks, digital extortion and online scams — all identified as prominent threats in INTERPOL’s 2024 Africa Cyber Threat Assessment Report.

Kaspersky has contributed to the operation by sharing information on threat actors, data on ransomware attacks and malware targeting the region, as well as up-to-date indicators of compromise (IoCs) for malicious infrastructure across Africa.

Among the malware targeting African countries was also a well-known Brazilian banking trojan Grandoreiro – Kaspersky recently released new findings on this trojan at its Security Analyst Summit. Additionally, ransomware families detected in attacks on African organisations among others included LockBit, Rhysida, and Medusa.

The operation has also resulted in the identification of more than 35,000 victims of cyber offenses investigated.

Valdecy Urquiza, Secretary General of INTERPOL, said: “From multi-level marketing scams to credit card fraud on an industrial scale, the increasing volume and sophistication of cybercrime attacks is of serious concern.

Operation Serengeti shows what we can achieve by working together, and these arrests alone will save countless potential future victims from real personal and financial pain. We know that this is just the tip of the iceberg, which is why we will continue targeting these criminal groups worldwide.”

Ambassador Jalel Chelba, AFRIPOL’s Acting Executive Director said: “Through Serengeti, AFRIPOL has significantly enhanced support for law enforcement in African Union Member States. We’ve facilitated key arrests and deepened insights into cybercrime trends. Our focus now includes emerging threats like AI-driven malware and advanced attack techniques.”

“We are proud to contribute to this multi-stakeholder operation orchestrated by INTERPOL and AFRIPOL,” comments Yuliya Shlychkova, Vice President, Global Public Affairs, Kaspersky. “The emerging dynamics of the threat landscape in Africa requires a stronger regional dialogue on mitigating acute cybersecurity risks.

Kaspersky firmly supports INTERPOL’s and AFRIPOL’s efforts to prevent and disrupt cybercrime attacks across Africa and shares the holistic approach towards creating a more cyber-resilient environment within the continent.”

Thanks to the cooperation with INTERPOL and AFRIPOL, Kaspersky has been an active contributor to fostering a more cyber-savvy environment in the African region.

In addition to the vast record of joint operations in Africa, with the latest being INTERPOL-led operation Synergia II, Kaspersky has recently sealed a five-year cooperation agreement with AFRIPOL to further strengthen its role in creating a more cybersafe climate on the continent by sharing Kaspersky’s extensive data on local cyberthreats and cybercrime trends with the organisation.


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NITDA Alerts Nigerians on Cybersecurity Risks Linked to Spotify

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National Information Technology Development Agency (NITDA) has issued a public alert warning Nigerians about a cybersecurity threat involving the use of Spotify to promote malicious activities.

NITDA Alerts Nigerians on Cybersecurity Risks Linked to Spotify

The agency, in a public notice issued on Tuesday, disclosed that threat actors are exploiting the popular music streaming platform to advertise game hacks, pirated software, and spam links that could expose users to cyber threats.

According to NITDA, cybercriminals embed malicious promotions in playlist names and podcast descriptions on Spotify, explaining that these promotions are used to advertise game hacks for popular video games such as Fortnite, GTA, Apex, and Roblox. Additionally.

They also promote pirated software (commonly referred to as ‘cracks’), spam links, and other malicious sites.

This abuse is said to leverage Spotify’s web player results to improve the search engine visibility of these harmful websites, putting unsuspecting users at risk of malware, scams, and other cyber threats.

NITDA warned that the exploitation of Spotify could lead to exposure to scams and phishing attacks, downloading of malware that can compromise user devices and Loss of personal and financial data through interactions with malicious websites.

To manage the risks, NITDA advised users to exercise Caution with suspicious playlists and podcasts and avoid engaging with playlists or podcasts that feature unusual or suspicious text in their descriptions.

It also warned users not to click Unknown Links, and also ensure the Spotify app is updated to the latest version to minimise vulnerabilities.

The agency further advised Spotify users in Nigeria to remain vigilant and adhere to cybersecurity best practices to safeguard their personal information and devices.

According to the agency, the websites posing as OpenAI’s popular AI, ChatGPT, are tricking users into downloading malicious files or software to their devices.


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Konga Yakata’s Last Week: Don’t Miss Out on Incredible Deals

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Excitement is reaching a fever pitch among shoppers as the Konga Yakata Black Friday shopping fiesta enters its final week. Shoppers nationwide are gearing up for a rain of last-minute deals and irresistible offers, with the promotion set to end on Saturday, November 30, 2024.

The month-long Konga Yakata campaign, which kicked off on Friday, November 1, has delivered an unparalleled shopping experience, treating customers to incredible discounts, engaging promos, and unbeatable incentives.

In addition to massive price cuts across a wide range of products, Konga has thrilled shoppers with exciting events such as Treasure Hunts, Flash Sales, Bargain Bash, Brand Days, and specialized Black Friday packages like the Budget Store, Under 50k Store, and TGIF Epic Drop.

The highlight of the Yakata 2024 season will be this year’s Black Friday, which takes place on Friday, November 29. Thousands of customers will be able to score exclusive discounts on items including electronics, clothes, home appliances, computers, and groceries.

Reflecting on the experience so far, a satisfied anonymous shopper who snagged a TV at a discounted rate said, “Konga Yakata has been nothing short of amazing this year. The discounts are unbelievable but true, and the convenience of shopping online is unmatched.

“I’ve already made several purchases, and I’m excited to see what other deals are in store for the final week.”

Konga’s Black Friday sale has been a boon for consumers, offering respite from the economic challenges many Nigerians face. By providing access to affordable products and services, Konga has empowered shoppers to make the most of their money.

Despite the prevailing economic challenges, shoppers have embraced the Yakata season, targeting high-value deals and leveraging Konga’s tailored offerings to make significant savings. With the countdown underway, the excitement is expected to hit its peak on Friday as customers traditionally wait for that day to grab the most exclusive deals.

Speaking on the heightened anticipation, Kunle Ajani, Group Head of Marketing at Konga, stated, “We’re thrilled with the overwhelming response to Konga Yakata this year, and we’re committed to ensuring the final week delivers the biggest surprises yet.

“We are proud to offer a platform where shoppers can enjoy exceptional value, despite the economic realities.”

As the curtain closes on the 2024 Yakata season, shoppers can look forward to a flurry of last-minute deals, culminating at midnight on November 30. From tech enthusiasts to lovers of electronics and deal hunters, Konga Yakata continues to redefine the shopping experience, making it a season to remember for all Nigerians.

Take advantage of the final week of Konga Yakata. Visit Konga.com and experience the thrill of shopping at unbeatable prices.


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