Mays Impacts

Courtesy: Alyssa Powell/Business Insider

Black Friday and Cyber Monday are around the corner. So, what should we expect from this year’s holiday retail shopping season and the Thanksgiving period? Similar to the past few years, this year will also be a blockbuster holiday season. Retail holiday sales will be a substantial chunk of the expected 2019 retail sales of $5.5 trillion. The National Retail Federation (NRF) predicts retail holiday sales to grow by about (3.8-4.2)% to $730 billion. e-Marketer and Deloitte Consulting are even more optimistic, pegging expected holiday sales at $1.0 and $1.1 trillion, respectively, growing by (3.8-5.0)%. Holiday e-commerce sales are anticipated to range from $144 to $149 billion (Deloitte Consulting). But returns will also likely be higher this year at almost 39% (Tinuiti).

The expected higher holiday sales this year is remarkable given that the holiday season is shorter than the past few years because of the late occurrence of Thanksgiving. Nevertheless, a record number of about 165 million people are expected to shop during the Thanksgiving period. 114.6 million shoppers plan to shop on Black Friday, while 68.7 million intend to shop on Cyber Monday (NRF). However, the average spending per shopper will likely be $313, down from $335 last year (NRF). But more than a quarter of the shoppers are likely to spend over $500 (Tinuiti). Cyber Monday sales will continue to outstrip Black Friday sales this year and may touch a record $9.5 billion.

Amid the expectation of this upbeat sale, the most interesting trend is how shopper habits are changing. The number of shoppers likely to start shopping in stores (47%) and online (41%) are comparable (NRF). Surprisingly, brick-and-mortar stores are popular across age cohorts, including Gen Z. Shoppers expect retailers to be omnichannel, with more than two-fifths of them planning to buy online and pick up in-stores (Tinuiti).

Academy, Costco, Ikea, Lowe’s, Nordstrom, and Sam’s Club remain closed on Thanksgiving day. But two major retailers, Bed Bath & Beyond and GameStop, have reversed their course from past years and will open on Thanksgiving day. These retailers may want to cash in on more people wanting to shop on Thanksgiving day this year (58%) than the previous year (45%) (MiQ).

What items are likely to be hot during the Thanksgiving weekend and how are shoppers going to get their holiday gift ideas and deals? As always, the iPhone is a coveted item. Nintendo Switch Lite, Sony PlayStation PS4, Amazon Echo Buds, and Apple’s Airpods Pro and Airpods will be popular. All shoppers will be on the lookout for the best gifts to buy for their loved ones. Millennials are twice as likely to learn about holiday gifts from social media than baby boomers and Gen X’ers (Qualtrics).

What are the best days for getting the best deals and on which items? The hot deals will be on the day before Thanksgiving for apparel, Thanksgiving day for jewelry, appliances, computers, tablets, TVs, and sporting goods, Black Friday for X-mas décor, devices, kitchen items, and other expensive items, Cyber Monday for gadgets and toys, and Giving Tuesday for furniture and bedding.

The Thanksgiving shopping experience is becoming almost a weeklong affair. There is something exciting for everyone every day. Whether you are a touch-and-feel consumer at a physical store, a desktop clicker, a mobile shopper, or an omnichannel buyer, you have plenty of choices. If you are a retailer, there are ample opportunities to gain through omnichannel retailing. If you are an analyst and researcher like me, it is fun monitoring, analyzing and predicting shopping behavior and sales.

SKYPaws, LLC, founded by Stephanie Young ’21 and Brianna Armstrong ’20, was awarded first place and $3,000 at the 2019 Raymond Ideas Challenge. The idea behind SKYPaws came to Young while she was working at a Veterinary Clinic in her hometown. “We had a dog named Charlie that came in for a routine procedure and passed away shortly after due to improper monitoring. The entire mission of SKYPaws is to equip Veterinarians with the accurate information that they need to know about their patients when they need it most” said Young.

Veterinary clinics must visually monitor patients post-operatively as animals will often chew through wires and tubing, or remove other monitoring devices. Unfortunately, this means that veterinarians and their staff don’t receive accurate information regarding a patient’s blood pressure, heart rate, and other vital signs that typically alert physicians of critical issues during recovery. SKYPaws provides veterinary clinics with a wireless monitor that provides them with accurate, real-time data to better monitor patient recovery. “Right now, SKYPaws is in the process of working with a professional engineering firm. This prize money will allow us to continue our discussions with them until we get Angel investment in the next 4-6 months” stated Young. Young encourages students who are interested in entrepreneurship to “take the plunge” and get involved with campus resources such as McFerrin Center, Startup Aggieland or Aggies Invent. “These resources will gradually allow you to get your feet wet in a structured way, so you don’t feel lost or helpless! Entrepreneurship is a major portion of my life and I feel as if my college experience would be lackluster without it” she added. Young is a sophomore Animal Sciences major and Armstrong is a 4th-year student in the Doctorate of Veterinary Medicine Professional Program. SKYPaws is a client of the Startup Aggieland Business Incubator.

Over 130 industry professionals judged this year’s 40 finalists. Recent Texas A&M graduate Rhett Bruck competed as a finalist at the 2018 Raymond Ideas Challenge and returned in 2019 as a judge. When asked why he decided to serve as a judge he commented on the impact that McFerrin Center programs had during his time at Texas A&M and his desire to help aspiring student entrepreneurs. “I thought it would be fun and I wanted to give back,” said Bruck “Startup Aggieland and the McFerrin Center put me on this amazing track where I can use the skills I developed everywhere.” The 2019 Raymond Ideas Challenge awarded $10,000 in prize money to student entrepreneurs at Texas A&M University. Second place winner Luke Raglin of SimpleSeat is the first Texas A&M Corpus Christi student to place at a Raymond Ideas Challenge. In addition, Axle Box Innovations has awarded all 40 finalists with access to their brand new “Fab Lab” that will open in January 2020. Raymond Ideas Challenge is held annually each fall semester. For more information visit mcferrin.tamu.edu.

2019 Raymond Ideas Challenge Winners

• First Place: Brianna Armstrong, Stephanie Young; SKYPaws, LLC.
• Second Place: Luke Raglin of Texas A&M Corpus Christi; SimpleSeat
• Third Place: Shreedevi Arun Kumar, Kaivalya Deo; 3D Bio-Printed Pancreas

Best Video

• Bruce Kelly, Stephen Lorenzen; Lit Seating

Honorable Mentions

• Daniel De Clute-Melancon; Changing the World by Providing Local Access to Urban Air
• Seth Polsley; Accessible Fitness Tracking for People with Disabilities or Injuries
• Mary Chandra, Molly Coon, Elizabeth Matthews; G-Sense
• Hassan Anifowose; Chronos 360
• Nash Porter; Kisby Virtual Lifeguard

AXLE BOX Award

• Nash Porter; Kisby Virtual Lifeguard

Venky Shankar, Coleman Chair Professor in Marketing and Director of Research, Center for Retail Studies (CRS), was recently invited as a Thought Leader at the Thought Leadership Conference hosted by the University of Arkansas at Fayetteville. He worked with an expert team of academics and practitioners and made a presentation entitled “How Technology is Changing Retail.”

The presentation started with a typology, or classification, of technologies that are impacting retailing.  Shankar presented different theoretical frameworks for a better understanding of the role of technology in retail. He covered technology adoption by shoppers and retailers, and presented some interesting future scenarios and concluded with research questions for scholars to pursue.

Shankar covered a gamut of technologies starting with 5G telecommunication, augmented reality (AR), virtual reality (VR), mixed reality (MR), Internet of Things (IoT), Blockchain, drones, robots, and 3D printing with many powered by artificial intelligence (AI), and how they are changing shopper experience and retailer business model. He discussed different organizations of technologies by stakeholder type (customer-facing, employee-facing, and supplier-facing), information technology (IT) versus non-IT, incremental versus radical, facilitating versus disruptive, and commoditizing versus value-adding. Among the drivers of retail technology adoption, his team identified advancement in core technology, consumer push, competitor innovation, and regulation as the main factors. His presentation highlighted customer and partner adoption, customer outcomes (e.g., satisfaction, purchase), supplier outcomes (e.g., on-time delivery) and financial outcomes (e.g., revenues, profits, shareholder value) as the key consequences of retail technology adoption.

From a retailer standpoint, Shankar discussed the “what, when and how” of technology adoption, management of technologies, and strategic versus tactical elements of technology. He presented different theories, including innovation adoption, technology acceptance, technology management, and option value theories.

Perhaps the most exciting part of the presentation was the articulation of possible future scenarios. Shankar presented his team’s ideas under four areas: retailer disintermediation, hybrid bundles, sharing economy, and retailer types. He speculated a scenario in which all consumables such as laundry for washers are replenished by AI in the machines directly ordering with the manufacturer and retailer becoming more of a repair agent—a possibility being tested by Proctor and Gamble. Another scenario he depicted involved consumers sharing or renting almost everything including, housing, clothing, and transportation. He discussed the near future possibility of, in addition to pervasive omnichannel retailing, smaller format stores for quick replenishment and instant gratification, stores that exclusively demonstrate new products, pop-up stores, repair stores, large experience stores, and community retail outlets, will start to dominate the landscape.

An article based on his presentation is being prepared and will be featured in a forthcoming special issue of the Journal of Retailing.

College Station, TX – November 18, 2019 – The Executive MBA program (EMBA) at Texas A&M University’s Mays Business School was recognized as the #1 program in Texas, #5 program among public universities in the U.S. and #14 program nationwide according to the 2019 rankings released today by Financial Times.  In international standing, the Mays EMBA rose 19 positions to 77, up from 96th place in last years’ rankings.

Eli Jones, dean of Mays Business School, said he is extremely pleased the program has entered the top 15 in the U.S. “This is a well-deserved accomplishment for this program,” he said. “Julie Orzabal, Arvind Mahajan, and the entire graduate programs staff deliver a transformational education to our executives. As lifelong learners themselves, they enhance the experience for the executives we serve.”

Mays performed well in the 2019 Financial Times rankings in other areas, too. Based on research productivity in the top business journals, Mays faculty ranked #5 among U.S. public schools and #12 among U.S. overall schools. Mays EMBA graduates ranked 1st in “Work Experience,” 1st in “Career Progress,” and 2nd in “Salary” for U.S. public institutions.

For the second year, a measurement examining the number of hours of Corporate Social Responsibility taught in each program resulted in Mays EMBA Program ranking #6 in the U.S. Coursework dedicated to corporate compliance, governance, and ethics, in addition to an integrated focus on ethics throughout the curriculum, is a central part of Mays Strategic Mission and Vision for developing transformational leaders.

EMBA Program Director Julie Orzabal believes participants experience a journey of personal leadership development through discovery, transformation, and impact. “The success of our graduates, captured in these rankings, is at the core of our twenty years of success in Houston. We are proud of the national and international recognition this ranking symbolizes.”

Associate Dean for Graduate Programs Arvind Mahajan said, “Our location at CityCentre in Houston makes us centrally located for thousands of executives who want to expand their knowledge base. Our location and our success really entice that population and based on our elevation in rankings, it is paying off.”

The Executive MBA program at Mays Business School is a two-year program designed for experienced leaders that meets on alternate weekends in Houston, led by elite faculty experts at Mays who are renowned for their research and are passionate about teaching.

A new class begins July 2020. To join Mays EMBA Class of 2022, visit https://mays.tamu.edu/executive-mba/.

See the Financial Times full rankings here:  http://rankings.ft.com/businessschoolrankings/executive-mba-ranking-2019

It is extraordinarily fitting that the 2019 Mays Scholarship Banquet was held in the Hall of Champions at Kyle Field. Everyone who attended the banquet is a champion in their own right. Whether the champion was a student blazing new trails for their friends and family or a champion for students to attend Mays Business School by giving their time, talent, and treasure, all 1,000+ people at the banquet were stalwart members of the Mays Family.

Dean Eli Jones ’82, the emcee for the night, noted how the banquet was hosted in a month ripe with gratitude. “November is a month synonymous with gratitude. While Thanksgiving is still two weeks away, tonight, we give thanks. We give thanks for the generous supporters of Mays who make a difference in the lives of students. We give thanks to the dedicated students of Mays, who will be our future leaders. Finally, we give thanks for the ability to gather this Mays family for an evening of thanksgiving.”

Keynote speaker David Shimek spoke about his gratitude to be there after his humble beginnings in a very small town. Shimek is now the Senior Vice President for Hardware Operations at Reynolds and Reynolds Company. He spoke about the Reynolds and Reynolds Sales Leadership Institute and how selling is a critical piece of their career. Shimek mentioned not just selling products, but themselves as well. To sell themselves, he gave them two responsibilities. The first, to be a good steward of their scholarship by striving for success and being involved in their school and community. The second responsibility was to give. To be a donor and give monetarily when the time is right, to give physically through mentoring programs, and to give corporately by championing for their future companies to give to Mays.

The night was full of exchanged handshakes and stories. Donors were able to spend time with their scholarship recipients, and students were given a chance to update some of their biggest champions on their activities and ambitions. Three students, in particular, shared stories with the banquet about their scholarships. However, rather than listing their numerous accolades, Hannah Grubbs ’20, Nicholas Menchaca ’20, and Gabrielle Orion ’20, shared stories of how the scholarships are about more than the money. The students told how scholarships grant students the ability to persevere through hardships and give them access to experiences and opportunities that would otherwise be impossible.

Grubbs shared how her family fell apart in her first semester of college, and her mom and brother moved across the state. Because of her scholarship, the money she earned from her part-time job could help her family move without the fear of not being able to pay for school. Also, because of the scholarships she received, she could move through school with urgency, not haste, as she uncovered her passions.

Menchaca told the audience how he was raised by a single father who worked hard. Despite his father’s best efforts, Menchaca grew up acquainted with financial insecurity and with a slim chance to attend a higher education institution. Menchaca said, “Financial insecurity is a towering barrier that consumes your every thought. Growing up, I didn’t have time to chase passions because I needed to help pay bills. These scholarships give students like me the ability to knock down those barriers and an opportunity to put education first.”

Orion spoke of the donor impact she’s felt. Her family was affected by Hurricane Harvey. For six months, her childhood home in Houston was unlivable, and she worried about her family and their mounting bills, but never once did she have to worry about pausing her education, because of the generous donors at Mays.

Grubbs wrapped up their time on stage imploring everyone to have the seemingly hard conversations about just how much scholarships mean to those receiving them. “For most of us in this room, the money you so graciously give back to our school allows us financial freedom from hardship both now and in the future. Your generosity gives us the freedom to find passion and pursue excellence. In that pursuit, we aim to someday sit in your chair as scholarship donors.”

(L to R) Heather Cox, Leah Kelly, Ozgur Cetinok, Erica Millwater, Arvind Mahajan
Images by Texas Filmworks

HOUSTON – Nov. 15, 2019 – The student team of Ozgur Cetinok, Leah Kelly, and Erica Millwater from the University of California, Los Angeles (UCLA) has won the $30,000 First Place prize in the Humana-Mays Health Care Analytics 2019 Case Competition sponsored by health and well-being company Humana Inc. (NYSE: HUM) and Mays Business School at Texas A&M University.

Over 1,300 masters level students representing over 80 major universities in the U.S. registered for the national competition to compete for $52,500 in total prizes. The third annual competition was open to all accredited educational institutions based in the United States. Full-time and part-time master’s students from accredited Master of Science, Master of Arts, Master of Information Systems, Master of Public Health, Master of Business Administration programs, or other similar master’s programs in business, healthcare, or analytics, were eligible to enter.

Ozgur Cetinok, Leah Kelly, and Erica Millwater received the top prize following a presentation Thursday, Nov. 14 to an executive panel of judges at Texas A&M’s Mays Business School’s CityCentre Houston location. The Second Place prize of $15,000 was awarded to Saurabh Annadate and Tanya Tandon from Northwestern University, while the Third Place prize of $7,500 was presented to Hong Gao, Shuyu Wang and Jie Yang from New York University (NYU).

“This contest is an excellent way for students to practice their analytical skills on the current challenges we face in health care,” said Heather Cox, Chief Digital Health and Analytics Officer for Humana. “Their creativity and passion is impressive, and those qualities are exactly what we need as we continue to leverage technology to simplify health care for consumers.”

The analytics case received by the students was designed to be multi-faceted and complex, similar to a real-world business problem. This year’s competition focused on chronic pain and the treatment of this condition through long-term opioid therapy, which has increased dramatically over the past two decades. According to the Centers for Disease Control and Prevention, as many as 1 in 4 patients receiving long-term opioid therapy in a primary care setting will struggle with opioid disorder. Using de-identified data, the students were asked to predict long-term opioid therapy post initial treatment. The goal is to identify patients at risk for continued long-term use of opioid therapies allowing for early intervention.

“Mays Business School is a model academic institution championing responsible research and teaching on every aspect of decision making in businesses. To that end, I am pleased that the students’ analyses will help Humana shape the way the industry delivers healthcare to alleviate the opioid epidemic,” says Arvind Mahajan, Associate Dean for Graduate Programs at Mays Business School. “This case study is an example of how students learn to apply their analytical skills to solve complex business problems which can have a social impact, and in this case, improve the lives of patients and their families.”

The teams were judged based on the following criteria:

• Ability to establish key performance indicators aligned to business needs
• Quantitative analysis identifying key business insights
• Ability to provide unique insights for business improvements
• Professionalism and visualization skills

This is the third year of the competition, which has grown to be one of the top healthcare analytics case competitions in country. In its inaugural year in 2017, the competition attracted more than 300 master’s degree candidates representing 109 teams from 19 major universities in the U.S.

For more information, visit HumanaTAMUAnalytics.com.

About Texas A&M’s Mays Business School

Mays is a full-service business school that steps up to advance the world’s prosperity. Our mission is to be a vibrant learning organization that creates impactful knowledge and develops transformational leaders. Mays Business School educates more than 6,400 undergraduate, master’s and doctoral students in accounting, finance, management, management information systems, marketing and supply chain management. Mays consistently ranks among the top public business schools in the country for its programs and for faculty research

About Humana

Humana Inc. (NYSE: HUM) is committed to helping our millions of medical and specialty members achieve their best health. Our successful history in care delivery and health plan administration is helping us create a new kind of integrated care with the power to improve health and well-being and lower costs. Our efforts are leading to a better quality of life for people with Medicare, families, individuals, military service personnel, and communities at large.

To accomplish that, we support physicians and other health care professionals as they work to deliver the right care in the right place for their patients, our members. Our range of clinical capabilities, resources and tools – such as in-home care, behavioral health, pharmacy services, data analytics and wellness solutions – combine to produce a simplified experience that makes health care easier to navigate and more effective.

More information regarding Humana is available to investors via the Investor Relations page of the company’s web site at www.humana.com, including copies of:

• Annual reports to stockholders
• Securities and Exchange Commission filings
• Most recent investor conference presentations
• Quarterly earnings news releases and conference calls
• Calendar of events
• Corporate Governance information

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Media Contacts:

• Blake Parrish, 979.845.0193, bparrish@mays.tamu.edu
• Marina Renneke, 602.760.1758, mrenneke@humana.com

November 14, 2019 (College Station, Texas) – Texas A&M University has once again been recognized as a top university for both graduate and undergraduate students interested in entrepreneurship by the Princeton Review. For the third consecutive year, Texas A&M University ranks within the top 25 U.S. schools, coming in at #22 for Undergraduate students and #23 for Graduate students.

Texas A&M boasts a dynamic entrepreneurial ecosystem that includes the McFerrin Center for Entrepreneurship, which operates Startup Aggieland and Blackstone Launchpad powered by Techstars. Blake Petty, Director of the McFerrin Center for Entrepreneurship stated, “We proudly acknowledge this recognition on behalf of the vibrant entrepreneurial community continuing to grow throughout Texas A&M. Our campus culture is rooted in developing students who want to change the world, and our recognition as a top 25 entrepreneurship program for 3 consecutive years proves we excel in this area.”

The McFerrin Center for Entrepreneurship is housed within Mays Business School but its resources and programs are available to all future, current, and former students of Texas A&M University. Dr. Eli Jones, Dean of Mays Business School commented, “We are excited to once again be recognized for the importance we place on entrepreneurial education at Texas A&M University. Entrepreneurship is a strategic pillar of the Mays Business School’s mission, and recognition of our excellence in both Graduate and Undergraduate programs speaks well to our emphasis.”

Specialized entrepreneurial programs are also offered through the Texas A&M Colleges of Engineering, Agriculture, Veterinary Medicine, Liberal Arts, Architecture, the School of Innovation and many other academic units across campus. Students at Texas A&M have a myriad of pathways to pursue entrepreneurship and innovation during their college careers.

More than 300 schools reported data about their entrepreneurship offerings to Princeton Review. Rankings are based on entrepreneurial curriculum, student, faculty and staff entrepreneurial ventures, extracurricular offerings, and scholarships and aid provided to students pursuing entrepreneurship.

SIA Solutions has been ranked as the #1 Aggie 100 Company for 2019 with an astonishing growth rate of 284.88%. At the helm, Dr. Srini Neralla, CEO of SIA Solutions, LLC, leads the company with an entrepreneurial attitude that seamlessly incorporates his academic background. His innovative and solution-oriented mindset lends itself to an uncanny ability to poignantly serve clients in a way that benefits their local community and the surrounding environment.

Dr. Neralla credits the growth of the company to their client-first attitude which serves as the foundation for SIA Solutions’ company culture. “Our culture is based around a client-first attitude,” he said, “if we can take care of our clients and we can take care of our people there’s nothing better than that.”  Dr. Neralla believes that SIA Solutions is able to successfully deploy a client-first culture because “[We] focus on understanding the needs and challenges of our clients and providing them solutions as appropriate.  We help them navigate through the maze of technical, regulatory and funding challenges, which makes our clients successful and hence we are successful.”  SIA Solutions believes in building strong and trusting relationships with their clients. In fact, approximately 95% of their clientele are repeat customers. “Our philosophy is establishing ourselves as a trusted advisor to our clients. That is the key to our success.”

Although SIA Solutions is a small-sized business they aren’t afraid to take on challenges that many firms their size may shy away from. “Because of our client-first philosophy, we’re willing to take on tough challenges and deliver. It’s in our culture. It’s natural to us. We put together strong teams comprising of firms our size or larger, including universities, in order to deliver what our clients want,” said Dr. Neralla. SIA Solutions is constantly pushing boundaries, including their own core business lines. One such example is a project that SIA Solutions is working on right now for the US Army Corps of Engineers. The project’s mission is to support and protect the mainline levees across the Mississippi River in order to keep excess material out of the channel and maintain a favorable channel alignment and depth. “This is currently done through the use of a Mat Sinking Unit (MSU) which, due to its age, requires significant upgrades to its infrastructure and health and safety of its operations,” said Dr. Neralla. SIA Solutions was selected to develop and field a full-scale prototype system that employs modern technologies to automate the processes of handling, assembling, and placing articulated concrete mat on the banks of the Mississippi River.  The system is purposefully designed to utilize robotics to help ensure the safety of the USACE employees and/or contractors implementing the program.  This modernized system will also help to reduce the time it takes to place the mats and increase the operation’s cost efficiency. SIA quickly recognized the unique opportunity for the company to take on one of their client’s biggest and most challenging projects in a way that has never been done before. “We put a team together that included Carnegie Mellon University’s National Robotics Engineering Center (NREC) to develop a process that includes robotics that will allow this project to be automated. We are willing to take on challenges and we’re willing to deliver.”  SIA’s willingness to think and work outside the box paid off and they were recently awarded the next project phase during which they’ll build the actual robotics system on a barge and begin placing the mats.

A large part of SIA Solutions’ portfolio includes their infrastructure asset management services where they deploy sophisticated strategies and processes to help solve complex asset management challenges for government and industry clients. Many times, this requires innovative solutions to existing assets such as underutilized property or facilities that are beyond their useful life. Dr. Neralla recalled one project where a Department of Defense (DoD) base had invested in a state-of-the-art water/wastewater treatment plant, but a few years later the base was downsized due to BRAC actions. Although DoD didn’t need the full capacity of the plant moving forward, the plant still had a high market value. The surrounding local communities needed additional water treatment capacity because of their own population growth. “We were able to assess the value of the plant and basically marry the local communities’ needs with the excess capacity of the DoD plant. This is a “win-win” situation for everybody, by providing a solution and reducing costs for both government agencies through the transfer of the asset! At the end of the day, anything we do has an impact on the community and an impact on the environment. Whether it is disposing of radiological waste properly or providing increased energy efficiency within a community around a military base.” SIA Solutions is a multi-faceted company that is able to identify innovative opportunities regardless of the project size or scope.

Dr. Neralla says that a key component in providing clients with unparalleled service and solutions is building the right team at SIA. He humbly expressed the integral role his staff has had in the growth of SIA Solutions. “You need to hire the right kind of people with the right mindset and right mentality,” said Dr. Neralla “You need a good staff that believes in your culture and believes in your vision. We could not have been as successful without the wonderful staff that we have at SIA.  Our clients have given us the opportunity to do what we do best and helped us in our growth and success”. “If you can develop solutions to address client needs in an efficient manner, that helps the community and helps the environment then it’s a win on all fronts,” said Dr. Neralla.  SIA Solutions has also developed a robust teaming network that allows them to leverage the resources of partner corporations. “There are a few small and large businesses that we team with that have helped us in our delivery to our clients. Such mutually beneficial relationships are possible due to a similarity in culture and values.”

Dr. Neralla stressed that entrepreneurs need to surround themselves with a supportive network, “hire quality staff that believes in your company culture, values and vision; surround yourself with a network of individuals and resources to guide the success of your company.” He believes that patience, persistence, and perseverance are key elements for success, and he has even woven these characteristics into the culture of SIA Solutions. He also noted that his success, and the success of SIA Solutions, would not be possible without the continuous support of his wife and family. Dr. Neralla is a truly inspiring Aggie entrepreneur and it comes as no surprise that his leadership and hard work have led SIA Solutions to new heights of success. Congratulations to Dr. Neralla and the team at SIA Solutions for being awarded the 2019 Aggie 100 #1 ranking.

Alibaba’s Singles Day event. Source: National Today

11/11 or November 11 is celebrated as the Singles day that witnesses the largest online sales, in particular, among Chinese people. The November 11 date was chosen to appeal to potential shoppers who are single because it contains multiple instances of the number one. This year, it is expected to ring in the biggest single day sales online anywhere in the world. Think of Amazon on steroids!

Led primarily by Alibaba, the Chinese tech behemoth, sales revenues from Singles Day has taken off from just $7.8 million in 2009 to $30 billion in 2018 for Alibaba. Not far behind was Alibaba’s main Chinese rival, JD.com, which sold $23 billion over 10 days surrounding Singles day last year. This year, Alibaba expects to sell $37 billion worth of products through its Tmall online marketplace. By comparison, the combined sales from Black Friday, Cyber Monday, and Thanksgiving day in 2018 was $29 billion! In fact, Singles day sales revenues could surpass the GDP of countries like Bolivia and Serbia!

This year, Alibaba promises to offer over 1 million products from 200,000 Chinese and global brands, including about 3,500 categories from 78 countries. About a quarter of American retailers have expressed an interest to participate in the event this year. Even Kim Kardashian is launching a new line of fragrances on Singles day. However, the U.S.-China trade imbroglio could throw some cold water on the success of American brands. About three-fourths of Chinese consumers were unsure about their intention to purchase U.S. products on Singles day.

An interesting way in which sales takes place is through livestreaming. Livestreaming commerce at Alibaba include products ranging from cosmetics to cars with flash exclusive deals on items that attract hordes of shoppers.

What is the significance of Singles day for the future of retailing? By 2022, Chinese middle-class shoppers are predicted to surpass U.S. shoppers both in number and (550 million vs. 340 million) spending. By being online, Singles day allows U.S. brands and retailers to leverage a large global shopper base.

This trend bodes well for retail’s future. In the future, retailing will be further driven by experience and technology. Globally, commerce is accelerating online as shoppers use their mobile devices  to browse, compare, click, purchase and return items, and communicate with others and retailers. Does this mean that physical stores are going out of fashion? True, many predominantly brick-and-mortar retailers such as Forever 21 and Sears are closing several stores. But far from the doomsday scenario predicted for brick-and-mortar stores, retailers are going omnichannel with digitally native retailers such as Amazon, Warby Parker, and Bonobos opening more stores.

What’s driving these changes? Shoppers demand 360-degree access to retail from multiple touchpoints and seamless shopping experience. Customer experience is defining retail disruption. Artificial Intelligence (AI) is reshaping both the demand and supply sides, including customer relationship and inventory management, as AI is being deployed at scale. Technology will accelerate “chore” shopping routines, while experience-focused initiatives will drive “cherish” shopping tasks. Retailing is becoming increasingly AI-driven, mobile-led omnichannel.

And global sales growth on Singles day is a harbinger retailing’s future.