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Call or email us

Investments and co-founding

Heikki Härkönen

+358 50 4394 322

[email protected]

Riikka Uimonen

+358 44 272 5567

[email protected]

Business inquiries

Jussi Siltanen

+358 45 670 9720

[email protected]

Tuike Järvi

+358 40 059 2123

[email protected]

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    5 tips on how to make commerce bloom

    From our blog / Article

    Either adapt to change or do it scared. Read the 5 main takeaways from the inspirational discussion at Blooming Commerce event.

    Author

    Fusion Ecosystem

    Fusion Ecosystem

    feature image

    The amazing Blooming Commerce live event arranged by Fusion Ecosystem last Thursday, hosted by Kenneth Westlake from Growberry, brought together visionary thinkers and leaders of commerce, sharing thoughts on how to excel in the digital sphere of commerce.

    Embrace the unknown

    The event was kickstarted by Alexander Graf, founder and Co-CEO of commerce technology platform Spryker.

    He addressed the dangers of endlessly repeating the stories of past breakthroughs; from the launch of websites in the 1990s and online flight booking in the 2000s into the Amazon of today. 

    Whatever brought success before won’t necessarily do it in the future

    “It’s not about the channel, and it’s not about the size. The companies that adapt fast to customer or market change will win”.

     Embrace the unknown

    Olof Hoverfält, Principal Consultant for Strategy & Business at Reaktor, has a track record of facilitating change in more than 30 companies. He believes that forward-thinking companies do not stare at the revenue only.

    “Many organizations are prisoners in their own mindset”, he brought up, referring to a state where organizations know their own paradigm but fail to see the trends outside it. 

    “You cannot just create a road map and start executing it. The key is to cultivate and build a learning mindset”, Hoverfält highlights, meaning that you should never stop to rest on your laurels in the belief that you have cracked it.

    Build your tech core

    According to Graf, the best retailers are technology companies – an opinion shared also by Aku Kotkavuo, the Director of Engineering at the Finnish retail giant SOK 

    Building inhouse technology core-capabilities at SOK was crucial for maintaining a strong foothold in Finnish online grocery sales, Kotkavuo pointed out. 

    Emphasizing the importance of a cross-functional team with good soft skills, curiosity and freedom to experiment, he shared an experience that paved the way for success:

     “When starting to build our own tech capacity, we didn’t challenge our core IT right away but advanced our goals on a parallel track. This is how we stayed out of the way until we could prove ourselves”.

    Build your tech core
    Build your tech core

    Turn AI into a good servant

    You cannot talk about the future of work without casting an eye over AI. 

    Graf expressed concern over the low-level computer jobs of tomorrow, nevertheless seeing more opportunities than risks in the development. He still calls for caution.

    “Language models are always grasping the average, which is inevitably dated in a fast developing market.” 

    Hoverfält believes that this trend, too, calls for adapting to the new – both on a personal and organizational level.

     “If your digital capabilities are weak, you won’t be able to cope. That’s why I encourage everyone to play with the new AI tools and get a feel of them. For example, I consider ChatGPT as my super efficient colleague”.

    Level up in B2B

    Lasse Keronen, who develops scalable commerce capabilities at Freyja, reminded that B2B buyers are the same people who use the local hypermarket in their free time, expecting the same level of maturity from the B2B services they buy.

    “Make sure that the hygiene factors in B2C also work in B2B, such as transparent end-to-end processes”. 

    B2C decision-makers also have a lot to learn from B2B, Keronen believes. 

    “Take personalization, which has never worked. Even Amazon failed. And yet this is what B2C decision-makers are still talking about. In B2B, there’s actually more need for standardization”.

    Level up in B2B

    Drop the ”e” from e-commerce

    It’s time to see e-commerce as an all-encompassing, inherent part of the business and not as something adjacent. 

    This was highlighted by Hoverfält, who proclaimed that by separating the digital from your core, you only make things complicated.  

    In a similar vein, Graf proclaimed that we’re done with the “e” in e-commerce. “You can call it omni-channel or multichannel or whatever you like, but the main thing is that it’s everywhere”.

    With a history in the automotive industry, Graf admits that none of the tools he and his team created for predicting future models worked. The world changed in another direction.

    “Smart brands don’t predict the future but create it faster.”

    Drop the ”e” from e-commerce

    About the
    Author

    Fusion Ecosystem

    Fusion Ecosystem

    Fusion Ecosystem is an alliance of 30+ companies accelerated by Reaktor. Our superpower is our joint expertise of epic scope in all things digital.

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