zinnov zones - digital in retail

Zinnov Zones 2016Retail Digital Services

December 2016

2

Agenda

About Zinnov

Retail Digital Transformation Landscape

Zinnov Zones Ratings for Digital Services in Retail

3

Introducing Zinnov

Zinnov

Global Engineering Excellence

Enterprise Digital Transformation

GEIP – Global Engineering

Insights Platform

Innovation

Enablement

Zinnov Zones

Ratings

Telecom & Networking

Consumer Electronics &

SemiconductorBFSI Retail

14 Years 200 Customers 160 Consultants 6 Offices

Offerings

Government and Industry bodies• Center for Scientific and

Industrial Research• National Institute of

Smart Government• Ministry of Small and

Medium Enterprise• Department of Science and

Technology• NASSCOM

Tech Platforms & Internet

SolutionsIndustrial

Service Providers | Vendors

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4

Agenda

About Zinnov



Advent of millennial consumers, advancement of digital tech and disruption by digital natives is forcing the retail industry to transform digitally

Rise of the millennial consumer

Widespread adoption of digital

technology

Booming growth of e-commerce

Evolution of disruptive retail

models

Rising economic pressure on retailers

Increasing competition from

tech firms

DIGITAL RETAIL EXPERIENCE

$ 200 BnExpected spend by millennial

consumers in US in 2017

Rapid decline in technology costs

along with growth in skilled workforce

New models such as Amazon Go, Retail Lockers, Virtual Stores are disrupting the way consumers shop

~24%Growth in global ecommerce

sales expected in 2016 to reach ~ USD 2 Tn

4/5Largest US tech companies* (Apple, Microsoft, Amazon, Alphabet) have retail presence today

~15Top US retailers are closing stores with rising costs & stagnant sales

* in terms of market capitalisation (incidentally also the biggest companies overall)Source: Forbes, eMarketer, clark.com

6

Digital technologies are completely transforming a customer’s experience across all retail touchpoints

1 2 4

8 7 6 5

Socially Influenced Buyer

Brands influencing purchasing behaviour through social media and increasing social buying decisions

Online Shopping Experience

Online commerce/mobile apps for anytime-anywhere shopping with custom recommendations, user reviews, etc.

Mobile-led In-store Shopping

Smartphones to assist the physical store shopping experience with dedicated mobile apps & other solutions

In-store customer experiences with modern technologies such as virtual mirrors, etc.

Immersive shopping

Social platforms; Mobility; AnalyticsCommerce platforms; AnalyticsMobility; IoT, NFC, BluetoothAR/VR

Robotic Store Assistants

Robots at stores replacing store/sales executives to meet and greet, guide, and recommend shoppers

Robotics, NLP/NLG, ML

On-demand 3D Printed Products

3D printing of personalized/ custom products, out of production parts, cloning items, etc.

Additive Manufacturing

New-age Checkout Systems

“Just walk out” by Amazon Go (no check out required); Self-checkout digital payment kiosks; scan-as-you-shop mobile apps

AI, ML, Payment Systems

Next-gen After Sales Support

Delivery fulfilment of unavailable items at stores, digitized receipts and loyalty integration, etc.

Mobility; Analytics

3

Digital Transformation in Customer Experience in Modern Retail

7

Modern retail operations have become smarter, data driven, and connected owing to digital enablement across multiple use cases

Supplier Warehouse Store Front Customer

Demand Fulfilment

Demand Generation

Data Driven Decision Making Connected Warehouse Smart Logistics

Big Data, Advanced Analytics IoT, Telematics, DronesRobotics, Automation, IoT

• Production planning based on real time sales data

• Lean inventory planning for optimum resource utilization

• Merchandising planning to ensure best product mix and placement

• RFID for contactless identification and tracking of products inside warehouse

• RTLS for identification and navigation inside warehouse

• Robotics technologies for automated warehouse operations

• Real time fleet tracking to manage product delivery as well as optimize routes

• Tracking inventory condition during transportation to ensure safety of products

• Usage of drones for automated delivery of products to end customers

Digital Transformation in Retail Operations

8

With 4x growth compared to the overall industry, online commerce has become a core focus area for retailers globally

Retail sales from online channels are growing rapidly forcing all major retailers to open their own ecommerce business or begin the process for the same, amidst increasing pressure from smaller rivals and tech-driven companies such as Amazon

0

20

40

60

80

100

120

140

160

180

200

Walmart Costco Krogers Amazon Home Depot Target Lowe's Best Buy TJX* Macy's

Re

ven

ue

(U

SD B

n)

Share of Ecommerce Sales within Top 10 US Retailers*

Ecommerce Sales In-Store Sales

113 16

10%

24%

0%

5%

10%

15%

20%

25%

30%

0

20

40

60

80

100

120

Top 10 Retailers Other Fortune 500Retailers**

% E

com

me

rce

Re

ven

ue

Re

ven

ue

(U

SD B

n)

Average Total Revenue % Ecommerce Revenue

Vs.Global Ecommerce sales expected in (2016) $1.9 Tn Growth Rate (2016) 23.7%

Global Retail sales expected in (2016) $22 Tn Growth Rate (2016) 6.0%

While 100% of Top 10 US retailers had ecommerce presence in 2015, a few are still not generating a significant chunk of their revenue through the mode

Notes- *Top 10 retailers on the basis of Fortune 500 rankings for the year 2015, sorted by total revenue; ** Sample set of 5 retailers taken for Other Fortune 500 retailers- Staples, Kohls, Nordstrom, JCPenney and Sears+ For Amazon, non e-commerce sales comprise of multiple other revenue streams

In contrast, share of online revenue for other Fortune 500 Retailers is 2.4x of Top 10 retailers signifying high competition in online channels

100% of Top 10 US retailers have ecommerce presence in 2015

Share of Ecommerce Revenue by company size2.8%

3.9% 0.5% 73.8%

4.9% 3.4%2.7%

9.5%1.0%

15.2%

X% Share of online commerce in overall sales

+

9

Increasing number of retailers leveraging digital technologies such as mobility, big data, IoT across digital use cases

Focus on building a cloud-based platform for performing merchandising and supply chain functions for e-commerce and retail

Partnering with DS Co to improve supply chain and marketing efficiency via drop shipping

Kohls’ Pay is powered in partnership with the contextual commerce platform OmnyPay

Partnership to deliver a digital in-store shopping experience using the StoreMode™ platform

Partnered to launch their chatbot on Kik platform enabling AI based conversation commerce for shoppers

Tesco partners with Tableau to leverage big data & predictive analytics in real time for driving sales

Partnership to deploy the QueVision platform for intelligent queue management through IoT

Partnership focuses on using RFID based IoT technology for inventory management & shrink reduction

Leveraging Marxent’s VisualCommerce platform in its Holoroom offering

Partnership allowed Alibaba customers shop in Macy’s New York store via virtual reality platform

Online Commerce

• Build ecommerce platforms• Simplify retail workflows• Gain access to real-time data

from remote locations• Improve SCM efficiency and

inventory management

Mobility

• Build mobile payment platform• Deliver seamless shopping

experience in store & online• Enable shopping on the go

through mobile apps• Targeted marketing

Cognitive/AI and Analytics

• Leverage data in real time to drive decision making

• Creating single customer view across orgs

• AI powered concierge and chatbots to simplify shopping

Internet of Things

• Inventory tracking to reduce shrinkage

• Proximity targeting through beacons technology

• Intelligent Queue management systems & smart shelfs

AR/VR

• Help customers view how their goods will look in practical use before buying them

• Providing in-store shopping experience online

• Information dissemination

Retailers are leveraging partnerships with companies in Mobile, Big Data, IoT and other digital domains to build new age services and offerings for customers as well as improve back-end operations

10

Retailers are increasingly partnering with digital natives to innovate and manage digital disruptions

Hybrid cloud-based Point-of-Sale system for retail establishments

Omni channel price tracking and price management solutions

Provides solutions for web stores, fulfilment, and marketing

Provides platform for proximity-based indoor mobile marketing

Helps deliver Omni-channel personalised marketing campaigns

45% CAGRGrowth in number of

start-upsSocial marketing platform enabling firms to engage customers

Retail Digital Native Landscape

Cumulative Funding and GrowthIllustrative Snapshot of Engagement

of Retailers with Digital Natives

Source: Mattermark, Zinnov Analysis

Retail clientsCompany name Brief description

84 268 375 534 892 1043 1142 1193 1210 1260 1320

3 4 6

17

37

49

63

7380

8695

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 ( E )

Cumulative Funding (in USD Mn) Cumulative number of startups

11

Retailers focus on digital transformation is clearly evident from their endeavours to innovate through digital labs

Source: News articles, company websites, Zinnov analysis

31%

16% 16%13% 13%

6% 6%

Mobility Big Data & Analytics AR/ VR Payment Services Connected Devices Robotics 3D printing

Mobile App (Eg. Cartwheel app

by Target)

Interconnection of devices

Mobile Website Development

Predictive Analytics for forecasting

ML assisted product recommendation

Search Analytics platform

Web Analytics for product discovery

Window displays(Sephora display female founders stories in stores)

Product Virtualization(Holoroom by

Lowe’s)

Payment platforms & wallet

Integration of payment gateways

Loyalty & Reward programs

Using Beacon tech for personalized

notification

RFID technology

Smart Shelves

Robo Advisors(OSHbots by Lowe’s)

Inventory Mgmt.(Kiva robots in

Amazon)

Product Customization

3D scanning

Illustrative examples

Technology Focus of Digital Labs

Retailers are leveraging digital labs for their continued investment into Digital labs are helping retailers develop in-house capabilities for cutting edge technologies to carve new digital experiences for their customer base

In order to derive maximum benefits from these initiatives leading retailers are appointing C-level executives such as Chief Digital Officer, Chief Innovation Officer or the recently trending COCO (Chief Omni-Channel Officer) to lead Digital labs and Omni-channel initiatives within their firms, which otherwise fall under the ambit of CMO (Omnichannel, Digital channel) or CTO (New tech)

Forbes 500 traditional retailers have started creating new senior leadership positions to drive digital initiatives

Who are leading these initiatives?

Chief Omni-Channel OfficerHead, Digital & E-commerce

Exec Director, Innovation

Chief Digital Officer

Segmentation of Outsourced Services Demand by Geography

12

In line with the growing digital focus, retailers invested nearly $70 Bn across digital transformation initiatives in 2016

Total Digital Spending (2016)USD 70 Bn

Spending on Services (2016)USD 35 Bn

Services Outsourced (2016)USD 4.8 Bn

(USD 12.4 Bn in 2020, at 27% CAGR)

63

1266

23

2016 2020Digital Enablement Enterprise Digital Transformation

North America,

69%

Europe, 21%

Asia, 6%

Rest of World,

4%

Digital Spending in Retail Vertical (in USD Bn)

13

Retail digital services market is moderately consolidated with sizeable share of smaller providers

No. of Service Providers in decreasing order of revenues

Market Share Analysis of Retail Digital Service Providers

0%

2%

4%

6%

8%

10%

12%

%ag

e s

har

e o

f o

uts

ou

rcin

g m

arke

t

10 3020 40 50 60 70 80 90 100

Next 5 – 12%

Top 5 – 53%

Remaining – 19%

Next 20 – 16%

In Store Customer Experience

Store Operations

Merchandising

8%13%

14%

Marketing & Sales

Supply Chain Management

16%19%

Online Commerce

29%

14

Online Commerce and Marketing and Sales together comprise about 50% share in digital retail outsourcing spend

Total - USD 4.8 Bn

Segmentation of Outsourced Digital Spend by Retail Sub Service Segments – 2016

Categorization of Retail Functions and Digital Focus – by share of customers

Marketing Analytics

Digital Campaigns & Promotions

Inventory Planning and Sourcing

Automated Warehouse Mgmt.

Transportation & Distribution

In-store Behaviour Analytics

360 Customer View Cashless Payments

Online Commerce Web and mobile analytics

Visual Merchandising

Pricing Engines Recommendation Engines

Inventory Tracking & Replenishment

Personalisation

Consumer Loyalty AnalyticsDigital Content Management

Omnichannel Services

Sensor based Inventory tracking

Smart Shelves

Connected Customer Shopping Cart Analysis

Proximity Marketing

Automated Queue Management System

Automated Content Centers

Location Based Services Assortment Planning Digital Kiosks

Social Media Marketing Sentiment Analysis Anti-Shrinkage systems

Workforce Planning

Endless Aisles Immersive Experience Virtual Trial Rooms Shop-floor Analytics

Increasing Focus of Retailers across Digital Use Cases

15

Application engineering and platform integration top digital focus of retailers

36%

27%

16%

15%

6%

Segmentation of Outsourced Retail Digital Spend - by Service Lines

Top Digital Focus Areas – by Service Lines

Digital Application Engineering

Digital Platform Integration

Design and Experience

Data Management and Analytics

Digital Consulting Services

Customer service apps (in store navigation, shopping list, carts) Gamified experience for store associates Logistics and delivery apps

Online commerce platforms (Shopify, Hybris, ATG) Back end integration of marketing products such as Sitecore and Endeca with CRM platforms Legacy Integration

UI development of online commerce portals Design of solutions for customer experience in store (virtual walls, interactive displays) PoS engagement

Customer sentiment analysis Customer behavior Pricing and markdowns Inventory planning Personalized marketing Logistics and transportation analytics

Omni-channel strategy Supply chain management Merchandising management Retail benchmarking Strategy consulting

Digital Application Engineering

Digital Platform Integration

Design and Experience

Data Management and Analytics

Digital Consulting Services

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Overall account sizes in retail digital services are lower than traditional IT services with engagements requiring significant retail domain expertise

< USD 1 Mn

USD 1-2 Mn

USD 2-5 Mn

> USD 5 Mn

REAL WORLD DEALS IN MARKET

65%

25%

6%

4%

SHARETop Workload Top Workload

Price optimisation for store products using AA

Sales and forecasting analytics using AA

Mobile app to enable sales representatives

Mobile app for internal employee collaboration

Migrating retail data to Hadoop server

Algorithmic analysis of product oscillation

Search engine marketing for mobile apps

Web intelligence data analysis

Spend Supplier Integration analysis on NoSQL platform

Data driven visualisation & decision support system

Brand performance and opportunity analytics

Multi-channel sales data analytics using AA

Web intelligence re-hosting /transformation on Hadoop

Customer facing app for ordering products online

Making retail processes paperless through mobile

Predicting retail trends via AA to improve sales

TOTAL ACCOUNT SIZE

Imperative for service providers to develop retail industry specific expertise in order to be able to win digital services deals

Mobility Advanced AnalyticsTECHNOLOGY LEVERAGED Cloud Deployment

17

Service providers seeking differentiation through investments in IPs, CoEs, and partnerships

Illustrative Platforms Partnerships

CoEs/ Digital Labs Focus on IPs Start-up Connects Platform Partnerships

• An estimated 15,000+ resources working across retail COEs/digital labs

• India a hub of such Digital Labs, followed by Eastern Europe

India59%

Eastern Europe

14%

North America

13%

Western Europe

7%

Others7%

Digital Labs Geographical Spread

• Top Focus areas include: Store Ops, marketing and sales and Customer experience

• Top technologies include BI/Analytics, IoT, Mobility and Cloud

• Partnerships with digital natives high on priority for Service providers

• Analysis of 100+ such start-up partnerships, suggests heavy focus on e-commerce, and marketing and sales

21%

7%

13%

6%

14%

39%

Marketign and Sales

Store Operations

SCM

Merchandising

Customer Experience

Online Commerce

Segmentation of Startup Engagements – by End Segment Focus

• Seeking competitive differentiation, multiple retail focused digital service providers have created IPs, including products, platforms and tools/frameworks

Marketing and Sales, 18%

Store Operations,

20%

SCM, 20%

Merchandising, 14%

In Store Customer

Experience, 12%

Online Commerce,

17%

Segmentation of IPs by segments

• Multiple service offerings of retail focused digital service providers are pivoted around their partnerships with industry leading platforms.

• Key themes include: data driven decision making, AR/VR, ecommerce, personalization, and digital marketing

Connects of Service Providers with Digital Stakeholders

Digital Order Book FlowType of Outsourcing Engagements

18

Digital demand is mostly project based and often driven by non-traditional stakeholders

CIO/CTO

CMO/CDO

CEO

44%

BU Heads

Service providers broadening their relationships with stakeholders outside of CIO/CTO office to align with other digital stakeholders

Project Based Work83%

Staff Augmentation

17%

Retail digital outsourcing continues to be dominated by project based work as against large outsourcing resulting in low typical deal sizes

29%

32%

38%

New New

Old New

Old Old

Digital deal flow continues to be a challenge for service providers with more than less than 40% visibility of order book

26%

20%

9%

19

Nearly half of the digital workforce of service providers working on analytics and UI; high demand leading to availability crunch

Marketing and Sales, 18%

Store Operations,

14%

SCM, 14%

Merchandising, 18%

In Store Customer

Experience, 10%

Online Commerce,

26%

25%

22%20%

14%

10% 9%

Big Data &Analytics

UI Developers DomainConsultants

Industry Experts Integration &Solution

Architects

UX Designers

Axis Title

0-5 Years 5-10 years 10+ yearsLegend

Segmentation of Talent by Retail Segment Focus Segmentation of Talent by Skill and Experience Levels

About Zinnov


20

Agenda


Future Outlook

21

Zinnov Zones for Digital Services in Retail 2016: Framework

Scalability of Retail Business

Positioning reflects the scores in Retail Digital Prowess and Scalability

Retail Digital Prowess1 Scalability2

Scale of Business

Retail Clientele

Retail Digital Offerings

Ecosystem Leverage

Retail Digital Workforce

Composition of Digital Clientele

BusinessModels

Retail Digital Prowess

The cumulative score of enterprises based on Retail Digital Prowess (x value) and Scalability in Retail Vertical (y value) was used to classify the service providers in Zinnov Zones framework

Zinnov evaluated participating service providers on two key areas basis which they were plotted on a 2-dimensional graph

Retail Talent

22

Retail Digital Prowess Parameters

* Digital Services: Legacy Modernization, Digital Application Engineering, Design & Experience, Digital Platform Integration, Data Management & Analytics, Digital Consulting Services


Ecosystem Leverage


Composition of Digital Clientele

Business Models

Abundance of digital skills: Retail Domain Experts, Big Data & Analytics Specialists, UI Developers, UX Designers, Domain Consultants, Solution & Integration Architects | Average experience of retail digital workforce | Onsite vs Offshore talent split

Ability to deliver across business models: T&M, Fixed Price and Outcome based models| Engagement Model split (Staff Augmentation versus Project Outsourcing)

Digital capability across retail segments: Marketing and Sales, Store Operations, SCM, Merchandising, In Store Customer Experience and Online Commerce | Leveraging retail specific Intellectual Properties (IPs), accelerators, tools and frameworks | Digital services spread*

Degree of utilization of retail digital partnerships with start-ups, digital technology platforms, academic universities and research institutes | Strength of digital innovation including set up of Retail Digital Labs and Centres of Excellence | New digital technology focus

Penetration within digital native clients/ start-ups | Connects with new digital stakeholders | Composition of client accounts (old/new) | Large account conversion rate

Cumulative Score on the Retail Digital Prowess parameters defines the horizontal position of Service Providers in Zinnov Zones framework

Retail Digital Prowess is estimated considering six key parameters:

Future OutlookFocus on new logo acquisition and strategic partnerships | Strategy to set up retail focussed new Centres of Excellence | Measures to expand in new geography |

Innovation in new talent hiring/ development practices

23

Scalability Parameters

Scalability has been broken down into three key parameters-

Scale of Retail Business

Retail Clientele

Total Digital Revenue across retail business and its segments| Growth rate of retail business | Geographic spread of retail revenue

Width of retail client portfolio | Spread of marquee clients and large value accounts within the retail clientele

Cumulative Score on the Scalability parameters defines the vertical position of Service Providers in Zinnov Zonesframework

Retail TalentRetail talent abundance | Talent split by type of business function: sales and marketing,

delivery/ operations, customer services

Future Outlook

24

Zinnov Zones for Digital Services in Retail 2016: Framework

Scalability of Retail Business

Nurture Zone Breakout Zone Execution Zone Leadership Zone

Positioning reflects the scores on Digital Prowess and Scalability

Digital Prowess1 Scalability2

Scale of Business

Retail Clientele


Ecosystem Leverage


Digital Clientele

BusinessModels

Digital Prowess in Retail Vertical

The cumulative score of enterprises based on Digital Capabilities in Retail Vertical is used to classify the service providers in one of the following Zinnov Zones:

Zinnov will evaluate participating service providers on two key areas basis which they will be plotted on a 2-dimensional matrix

Retail Talent

Low

Expansive

Niche

High

Scal

abili

ty (

Clie

nts

, Tal

ent,

Fin

anci

als)

25

Zinnov Zones for Digital in Retail: Main

Source: Data shared by participant companies, Zinnov Research

Zinnov Zones for Digital Services in Retail

EstablishedEmergingHighDigital Prowess (Offerings, Ecosystem Leverage, Talent, Clients, Business Model, Future Outlook)

Aegis

Cybage

EPAM

Happiest Minds

HCL

IBM

ITC Infotech Luxoft

Ness

Quatrro

SoftServe

Sonata SoftwareSyntel

Tech Mahindra Wipro

Zensar

Accenture

Cognizant

CapgeminiTCS

Infosys

Full Participation by Service Providers

Partial/No Participation by Service Providers

S. No. CompanyDigital Retail

OfferingsEcosystem Leverage


Digital Clientele

Business Model

Future Outlook

1 Accenture

2 Capgemini

3 Wipro

4 IBM

5 TCS

6 Cognizant

7 Infosys

8 EPAM

9 HCL

10 Zensar

11 Ness Digital Engineering

26

Retail Digital ServicesProwess Scores

NascentDevelopingCapableVery CapableLeaderSCALE

(1/2)

S. No. CompanyDigital Retail

OfferingsEcosystem Leverage


Digital Clientele

Business Model

Future Outlook

12 Happiest Minds

13 Tech Mahindra

14 SoftServe

15 Syntel

16 Luxoft

17 Sonata Software

18 ITC Infotech

19 Cybage

20 Aegis

21 Quatrro

27

Retail Digital ServicesProwess Scores

NascentDevelopingCapableVery CapableLeaderSCALE

(2/2)

28

Zinnov Zones for Digital in Retail


Scal

abili

ty (

Clie

nts

, Tal

ent,

Fin

anci

als)

Ratings for Marketing and Sales


High

Low High

Aegis

Cybage

EPAM

Happiest Minds

HCL

IBM

ITC Infotech

Ness

SoftServe

Sonata Software

Syntel

Tech Mahindra

Wipro

Zensar

Accenture

Cognizant

Capgemini

TCSInfosys

Digital Prowess (Offerings, Innovation Ecosystem, Clients, Talent)



29



Scal

abili

ty (

Clie

nts

, Tal

ent,

Fin

anci

als)

Ratings for Store Operations


High

Low High

Aegis

Cybage

EPAM

Happiest Minds

HCL

IBM

ITC Infotech

Ness

SoftServe

Sonata Software

Syntel

Tech Mahindra

Wipro

Zensar

Accenture

Cognizant

CapgeminiTCS

Infosys




30



Scal

abili

ty (

Clie

nts

, Tal

ent,

Fin

anci

als)

Ratings for Supply Chain Management


High

Low High

Aegis Cybage

EPAM

Happiest Minds

HCL

IBM

ITC Infotech

Ness

SoftServe

Sonata Software

Syntel

Tech Mahindra

Wipro

Zensar

Accenture

Cognizant

Capgemini

TCS

Infosys




Aegis

Cybage

EPAMHappiest Minds

HCL

IBM

ITC Infotech

Ness

SoftServe

Sonata SoftwareSyntel

Tech Mahindra

Wipro

Zensar

Accenture

Cognizant

Capgemini

TCS

Infosys

31



Scal

abili

ty (

Clie

nts

, Tal

ent,

Fin

anci

als)

Ratings for Merchandising


High

Low High




32



Scal

abili

ty (

Clie

nts

, Tal

ent,

Fin

anci

als)

Ratings for In Store Customer Experience


High

Low High

Aegis Cybage

EPAM

Happiest Minds

HCL

IBM

ITC Infotech

Ness

SoftServe

Sonata Software

Syntel

Tech Mahindra

Wipro

Zensar

Accenture

Cognizant

CapgeminiTCS

Infosys




33



Scal

abili

ty (

Clie

nts

, Tal

ent,

Fin

anci

als)

Ratings for Online Commerce


High

Low High

Aegis

Cybage

EPAM

Happiest Minds

HCL

IBM

ITC Infotech

Ness

SoftServe

Sonata Software

Syntel

Tech Mahindra

Wipro

Zensar

Accenture

Cognizant

Capgemini TCS

Infosys




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Disclaimer

Zinnov Proprietary & Confidential

In the context of Zinnov Zones for Digital Services in Retail, we reached out to a limited set of service providers that could be potential leaders in this space. Our set of inclusion criteria enables us to shortlist, effectively based on which service providers are invited to participate. While we normally see significant interest in participation, sometimes a service provider may request to be excluded from the Zinnov Zones activity if the timing of the research or circumstances within the service provider organization makes participation difficult. If a service provider declines to participate at the beginning of a Zinnov Zones process, it is important to know the following policies:

Some non-participating service providers are still included in our evaluationo As we invite only leading service providers and emerging players to participate in Zinnov Zones, if a service provider

decides not to participate, we have still included them in the final report if we think it is necessaryo Our reasoning is that Zinnov Zones without a leading service provider would project a partial picture of the market

and make it less pertinent for our clients

The Zinnov Zones report clearly differentiates service providers that did not undergo the same rigorous evaluation as its peerso While our analysts have evaluated the service providers that declined to participate, the service provider’s place in

the ratings is denoted by a differentiating symbol indicating non-participation in the research processo Their assessment is based on different inputs than those used for evaluating its peers

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