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Product & Services - Product Development Executive of the Year
(Platinum Winner)

PO#

#TBA02110

Payment Status

Paid

PO Created Date

2023-07-19 18:52:43

Paid Date

2023-07-19 18:54:54

Competition

2023

Season

Entry ID

TBE102143

Entry Submission Date

2023-07-15 17:15:58

Member's Name

Tanay Shah

Member's Email

tanay1.shah@gmail.com

Entry Level

Information Technology

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Yes

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SF23002 - Product Development Executive of the Year

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Project Description

In 2021, Tanay held the position of Product Management lead at Wayfair, with responsibilities that included managing the Seller Acquisition and Onboarding product. The objective was to exponentially increase sellers on Wayfair's platform. To achieve this, Tanay designed a new seller acquisition and onboarding experience to make the process seamless for sellers, reducing friction and effort. Three new digital products were developed:

The "Sell on Wayfair" landing page, which enabled potential sellers to understand the benefits of selling on Wayfair, how they can grow, and how they can achieve success.

The Seller Application form, a concise form with only a few questions that allowed sellers to swiftly submit their application to sell on Wayfair with ease.

The seller onboarding experience, a self-service product that helped sellers set up themselves on Wayfair independently, manage products, and track sales performance without requiring assistance.

After his tenure at Wayfair, Tanay joined Amazon as a Product Management lead, where he is driving the product strategy and development of the core shopping experience for the innovative smart shopping cart. This smart shopping cart is designed to transform the traditional shopping experience, offering numerous features and benefits. By utilizing advanced technologies like computer vision AI and sensor fusion, customers can simply log in through a QR code in the app and start shopping. Customers can scan or add products directly, and AI recognizes the products, making it easy to bag items on the go. Customers can also view a real-time receipt on the cart's screen to keep track of their spending and access personalized deals. The Smart Cart simplifies the process of purchasing fresh produce by suggesting nearby items to customers instead of manually entering PLU codes. Customers can select items or type in item names and use the cart's ability to weigh produce, reducing further steps during checkout. To complete their purchase, customers simply exit the store, and their payment is automatically processed using the credit card linked to their account, eliminating the need to stand in checkout lines or unload and reload items at self-checkout stations.

Project Description for Judges

The "Sell on Wayfair" landing page, which enabled potential sellers to understand the benefits of selling on Wayfair, how they can grow, and how they can achieve success.

The Seller Application form, a concise form with only a few questions that allowed sellers to swiftly submit their application to sell on Wayfair with ease.

The seller onboarding experience, a self-service product that helped sellers set up themselves on Wayfair independently, manage products, and track sales performance without requiring assistance.

Question 1 : Describe the brand, features, functions, and benefits of your product or service. (Your response to this question will be used for public display if your entry is awarded.)

In 2021, Tanay was the Product Management lead at Wayfair, responsible for managing the Seller Acquisition and Onboarding product. The objective was to exponentially increase sellers on Wayfair's platform. To achieve this, Tanay designed a new seller acquisition and onboarding experience to make the process seamless for sellers reducing friction and effort. He built three new digital products: 1) Sell on Wayfair landing page which enables potential sellers to understand benefits of selling on Wayfair, how they can grow and how much revenue they can make and be successful. 2) Seller Application form which is a short form comprising only a few questions that allows sellers to swiftly submit their application to sell on Wayfair with ease. 3)The seller onboarding experience whic is a self service product that helps sellers setup themselves on Wayfair independently, manage products and track sales performance without requiring assistance.

Post Wayfair, Tanay joined Amazon as a Product Management lead, where he is driving the product strategy and development of core shopping experience for the innovative smart shopping cart. It is designed to transform the traditional shopping experience, offering numerous features and benefits. By using advanced technologies like computer vision AI and sensor fusion, customers can simply log in through a QR code in the app, and start shopping. Customers can just scan or add products directly and AI recognizes the products, making it easy to bag items on the go. Customers can see real time receipt on the cart's screen so they know the amount they are spending. Along with that they can access personalized deals. Smart Cart simplifies the process of purchasing fresh produce. Instead of manually entering PLU codes, the cart suggests nearby items to customers which customers can select or just type in item name and then use the cart's ability to weigh produce, reducing further steps during checkout. To check out, customers simply exit the store, and their payment is automatically processed using the credit card linked to their account, eliminating the need for standing in checkout lines or unloading and reloading items at self-checkout stations.

Question 2 : Outline the market performance, analytical response, and customer satisfaction of your products or services, to date.

As described above, at Wayfair, Tanay designed a new seller acquisition and onboarding experience to make the process seamless and exponentially increase sellers on Wayfair's platform. He designed Sell on Wayfair landing page (https://sell.wayfair.com/) and new seller onboarding experience (https://rb.gy/pj16f), increasing the new sell acquisition rate by 48% and reducing the time to sell on Wayfair marketplace by 68%. This grew the seller base by 2.5x who generated more than half a billion in sales in the first year. It also led to 300% increase in new seller added each week. He also designed Seller Application form (https://rb.gy/70hhy) increasing the new seller applications by 155%.

Post Wayfair, Tanay joined Amazon as a Product Management lead, where he is at the forefront of driving the product strategy and development of the groundbreaking smart shopping cart. Amazon’s dash cart is designed to transform the traditional shopping experience, offering numerous features and benefits. By using advanced technologies like computer vision AI and sensor fusion, customers can simply log in through a QR code in the app, and start shopping. Customers can just scan or add products directly and the cart recognizes the products, making it easy to bag items on the go. Customers can see a real time receipt on the cart's screen so they know the amount they are spending.  Instead of manually entering PLU codes, the cart suggests nearby items to customers which customers can select or just type in item name and then use the cart's ability to weigh produce, reducing further steps during checkout. To check out, customers simply exit the store, eliminating the need for standing in checkout lines or unloading and reloading items at self-checkout stations.
 
 Retailers like Whole Foods and Amazon Fresh stores have this smart cart and its expanding across the country. It's currently live in 22 Whole foods and Fresh grocery stores (https://rb.gy/8v6un). The customer satisfaction is very high, and the customer repeat usage is high. The specifics are confidential, but below are the customer reviews- 
https://www.youtube.com/watch?v=2nVJn1jP6GU
https://www.youtube.com/shorts/Kcev-IdH8Vc

Question 3 : Provide examples of the strategies / plans you have introduced, in order to attain your product’s or service’s performance standard? Explain why the highlighted achievements are significant / unique.

To make the products successful, as outlined above, Tanay implemented the below strategies. 
1. Market Research and Customer Analysis: Did thorough market research and a deep understanding of my target customers. Identified their pain points, preferences, and behaviors. Used surveys, interviews, and data analysis to gather insights.
2. Defined Value Proposition: Defined a clear and compelling value proposition that addresses the customer problem and explains why the product is the best solution in the market. Crafted the proposition that was being easy to communicate and resonated with customers.
3. Agile and Iterative Development: With my engineering leaders, implemented an agile development approach with iterative releases. 
4. Launched a minimum viable product (MVP) to gather feedback and then made incremental improvements.
5.User Experience (UX) Focus: Prioritized user experience in all aspects of the product, from design to functionality. This helped user satisfaction and increased repeat usage.
6. Data-Driven Decision Making: Utilized data analytics and user behavior to make informed product decisions which helped identify trends, areas for improvement, and opportunities for growth.
7. Product Roadmap: Developed a well-defined product roadmap that future direction, key features, and milestones. Ensured that the roadmap aligns with business objectives and customer needs.
8. Cross-Functional Collaboration: Implemented strong collaboration between product management, engineering, design, marketing, and other stakeholders. 
9. Launch Plan: Created a comprehensive launch plan to make sure the launch is smooth
10. Feedback Loop: Established strong customer feedback loops and actively incorporated it into future product updates.
11. Continuous Improvement: Continuously gather feedback, analyze data, and iterate on the product to adapt to changing market dynamics and user needs.

Optional Context for Judges (Not for publication. This section is solely for judges' evaluation.)

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Last email notification sent on 2023-07-19 19:46:57

Link List

Link	Password Protected	Display (Winner Info)
https://sell.wayfair.com/	No	Display
https://partners.wayfair.com/d/ph-acquisition-inbound-ui/application_form	No	Display
https://rb.gy/pj16f	No	Display
https://www.cnbc.com/2022/07/11/amazons-smart-grocery-carts-are-coming-to-some-whole-foods-stores.html	No	Display
https://www.theverge.com/2022/7/12/23198177/amazon-smart-shopping-dash-cart-ai-powered-sensors-fresh-whole-markets-stores	No	Display

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File Link	File Size	File Link (System Resize)	File Size (System Resize)	Display(Winner Page)
upload/entry/files/TBE102143/30121690060905.pdf	161.71KB	upload/entry/files/TBE102143/30121690060905.pdf	161.71KB	Hide
upload/entry/files/TBE102143/17671690060905.pdf	4.51MB	upload/entry/files/TBE102143/17671690060905.pdf	4.51MB	Hide
upload/entry/files/TBE102143/13131690060905.pdf	3.46MB	upload/entry/files/TBE102143/13131690060905.pdf	3.46MB	Hide
upload/entry/files/TBE102143/16761690060905.pdf	61.08KB	upload/entry/files/TBE102143/16761690060905.pdf	61.08KB	Hide
upload/entry/files/TBE102143/19241690061095.pdf	2.19MB	upload/entry/files/TBE102143/19241690061095.pdf	2.19MB	Hide

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