From Vision to Reality
Rance Poehler, President & CEO of Toshiba Global Commerce Solutions unveils Toshiba's next steps in revolutionizing retail experiences
Effective leadership amidst disruptive times
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ELERA™: Empowering retailers to accelerate their digital initiatives
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Unifying online and in-store experiences: Key to improve profitability
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Outlook for retail industry for next 12 months
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Scaling the business: Creating repeatable, reliable growth
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The Road Ahead
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Rance M. Poehler is President and Chief Executive Officer at Toshiba Global Commerce Solutions, leading the company’s continued digital transformation as a trusted retail commerce solutions leader for its large and growing customer and partner community.
His leadership style is grounded in empowering his teams to succeed, encouraging them to approach decisions with passion, intuition and commitment. Throughout his career, he has witnessed the value of empowerment to drive engaged and effective teams in driving successful strategic decisions.
Rance has more than 25 years of experience building and expanding business-to-business organizations while creating substantial shareholder value. He has focused on unique vertical markets, including retail where he has extensive experience developing end-to-end solutions for general retail, quick-service restaurant, hospitality, and other segments. Before joining Toshiba in 2020, he served as President of Panasonic Systems Communications Company of North America. He led a $1.1 billion division morphing it from a product-centric organization to an end-to-end provider of innovative retail solutions in mobility, point-of-sale, digital signage, computer vision, and analytics. His efforts at Panasonic helped Fortune 1000 companies understand shopper demographics and behavior, improve associate engagement and create better customer experiences. At Dell Technologies, he served as vice president of worldwide sales for its cloud client computing team that represents a full suite of cloud and desktop virtualization solutions for retail that enabled scalable thin client solutions. Rance’s experience also includes Pivot3 where he served as Chief Revenue Officer responsible for leading the global sales organization and executing the company’s growth strategy and talent acquisition as they developed and went to market with a hyper-converged software platform that manages mixed workloads including IoT-surveillance, analytics, and hybrid cloud solutions.
Effective leadership amidst such disruptive times in the retail sector signifies the ability to navigate and remain adaptable to what consumers want while maintaining a clear and strategic vision for the future. The past few years have indeed been transformative for the retail industry, with significant shifts in customer behavior, supplier dynamics, employee expectations, and investor priorities. Every day, we see VUCA (volatility, uncertainty, complexity, ambiguity) impacts from increasing numbers of shrink to worker shortages and more. Leadership that acknowledges the value of information, adaptability, and vision is priceless.
Information is powerful because we need the correct information to make decisions. In our business, this comes from listening intently to all stakeholders, including employees, customers, partners, and consumers.
Adaptability then becomes realistic to achieve amidst unexpected change, and overcoming complex challenges in the retail sector requires a multifaceted approach that factors all stakeholders – our employees, our customers, our partners, and, certainly, the consumer of today with a keen eye on what will motivate them into the future.
Vision is what keeps us moving toward the same goal. Successful leaders must bring vision to an organization to provide an outlook on the long-term goals, even when facing short-term challenges, and to inspire confidence in the organization’s ability to weather storms during disruptive times.
At Toshiba Global Commerce Solutions, our solutions across hardware, software, and services start with our "We Are RETAIL” values that begin with Respect and include Empowerment, Teamwork, Adaptability, Integrity and Leadership. These values guide every aspect of our business and keep us connected to our purpose to empower retail to and prosper. By aligning our teams with these clear tenants, we can ensure we respond to our stakeholders to drive success for the ultimate end user – the shopper.
Retailers understand the benefits and impact of implementing new technologies in their business. An Incisiv study reported that 92% of retailers said innovation is critical to their future growth strategy. Toshiba Global Commerce Solutions is committed to the industry and delivering innovative solutions to continue providing retailers with new opportunities to improve their operations and deliver better customer experiences.
Retailers cannot accelerate transformation when it’s saddled with decades-old technology and hundreds of custom-developed integrations that require considerable resources to maintain. The ELERA™ Commerce Platform has been powerful, empowering our existing customers to continue their digital transformation journey at their pace with modular options for implementation. It also enables retailers to get control of their technology debt so they can control and protect their customer data, freeing them to transform their businesses at a speed that was never possible. ELERA™ has the flexibility to run on any hardware, operating system, or cloud system that meets minimal technical specifications.
By leveraging embedded technologies like A.I., machine learning, computer vision, and self-enablement features, retailers can manage challenges like in-store shrink and labor shortages that impact their bottom line. It also creates seamless, unified retail experiences and deploys a wide variety of promotions for a personalized, cohesive customer experience across different touchpoints by understanding shopper behaviors.
The unified architecture offered by ELERA™ is built for the digital age and omnichannel retailers serving consumers online, mobile, and in-store, delivering capabilities that can be applied to any endpoint or device. Ultimately, the platform provides retailers the freedom to self-enable and innovate like never before, supporting the connected store experience in an agile, interconnected, and infinitely adaptable way.
At Toshiba Global Commerce Solutions, our solutions across hardware, software, and services start with our "We Are RETAIL” values that begin with Respect and include Empowerment, Teamwork, Adaptability, Integrity and Leadership. These values guide every aspect of our business and keep us connected to our purpose to empower retail to and prosper.
Retail is ever present in our lives. We all shop for groceries, essential items after a disaster or family illness, leisure shopping, etc. Retail is also a necessary source of employment throughout communities everywhere. The industry is vital no matter where you are in the world, and that's why, at Toshiba Global Commerce Solutions, we envision a world of resilient retailers that create joyful experiences and drive vibrant economies.
We are devoted to freeing retailers to reimagine, build, and scale their infrastructure with technology that empowers change to deliver excellent shopping experiences every time. The investments we are making are advancing the future of retail, empowering retailers to align their technology with business strategies quickly and efficiently to connect with shoppers and stay ahead of the competition.
Seamless shopping isn't just about having the latest technology; it's using the strength of each piece of technology to serve shoppers' needs better. Retailers need to eliminate the barriers separating their channels to enable shoppers to quickly move from online to store, mobile, home delivery, and beyond. Toshiba commissioned a study conducted by Incisiv, which revealed that combining physical and digital retail experiences is one of the six innovation indicators for retail leaders.
Balancing digital retail and brick-and-mortar stores is pivotal in how brands deliver an experience through technology that frees retailers to build and reimagine their journey. In its quest for the right platform to unify online and in-store, Wayfair became an early adopter of our ELERA™ Commerce Platform when it opened physical stores in 2022 because it provided the flexibility that Wayfair was looking for. "You [Toshiba] had all the right hooks. We were able to iterate and build things quickly," said Kevin O'Riordan, Head of Physical Retail and Supply Chain Engineering at Wayfair, while speaking at NRF 2023 earlier this year. "The other thing is we wanted to build a checkout from the associate perspective to make it easy for our customers. When you download the Wayfair app and buy a bunch of furniture for your home, you don't go through a training course. It is seamless. We wanted this kind of 'no training' mantra for the front-end user experience. The ELERA™ platform was able to keep up on that front, and we got good results." He further discussed the digital transformations at Wayfair and how it is driving to enrich the shopper experience. He highlighted how cutting-edge unified commerce platforms accelerate retail transformation.
Physical and digital commerce each have essential roles in the shopping experience and retail operations. We help today’s brands accelerate and unify their retail ecosystem across digital and physical commerce to meet shoppers where they are. By effectively combining physical and digital experiences, retailers can create a more engaging, convenient, and personalized shopping journey for customers. This, in turn, can lead to increased customer satisfaction, loyalty, and, ultimately, improved profitability.
Every shopper deserves the best possible experience. We empower retailers with the technology and know-how to reimagine and deliver unified retail experiences that create meaningful, personalized interactions with each shopper meeting their preferences.
To meet the evolving needs of consumers and achieve business goals, we are working closely with our retail customers to deploy solutions to unify the shopper experience across multiple touchpoints. The rise in shrink and other operational challenges, such as labor distribution, also continue to pose unexpected and complex hurdles for retailers. Retailers understand the benefits and impact of implementing new technologies in their business, especially when supporting loss prevention measures that significantly impact their bottom line. Two key areas we’ll continue to hear about over the next 12 months are artificial intelligence (A.I.) and alternative forms of payments.
A.I. and other complementary technologies like computer vision and machine learning will continue to advance and support the retail space. Like other solutions, A.I. technology is most effective when applied strategically with a focus on achieving business priorities. By doing so, retailers can effectively harness the benefits and stay ahead in a constantly changing retail landscape.
Alternative forms of payments, including mobile and biometric options, are gaining interest. As more and more consumers are on the go, the ease of use at restaurants, convenience stores, and high-volume retail has seen an uptick.
Our role as the retailer’s partner is to start by gathering the information through listening so we can help them hone in on the strategy to tailor a solution to adapt to the outlook and move their business forward while preserving relationships with and delighting consumers so they keep coming back.
A deep understanding of our retail customers is at the heart of any successful growth strategy. We invest significant time and resources in developing authentic relationships with our customers by understanding their pain points, needs, and aspirations. Some of what we do is repeatable in our solutions across hardware, software and services. Our passion and purpose come through when we can listen to and counsel our customers to solve their challenges by providing modular technologies and scalability across their stores.
We actively seek feedback and use it to drive our solutions. We also foster a culture of experimentation and seek to adopt and embrace emerging technologies. This keeps us ahead of the competition and allows us to anticipate industry shifts and adapt our strategies accordingly.
Our growth and success are also influenced a great deal by our partner network. Toshiba Global Commerce Solutions also partners globally with industry-recognized distributors and solution provider business partners to promote awareness, drive demand, and deliver innovative solutions to new customers and potential partners. The strength of our partner network is a vital component of our success in serving the needs of retail and adjacent vertical industries. Toshiba is a partner-driven business, and our network of outstanding partners has helped build our success. Through our Together Commerce Alliance Program, which includes more than 1,000 business partners operating in over 70 countries selling on our behalf, our retail solutions are brought to a global market to empower retailers to deliver more enjoyable and personalized shopping experiences.
We envision a world of resilient retailers that create joyful experiences and drive vibrant economies. As we look ahead, we will continue delivering innovative solutions for our customers by listening to them first and working with our partners in the industry to provide greater value. Our people are our biggest asset in achieving our goals, and we are excited to continue to grow our team with the best talent across our global footprint.
Our devotion to the industry has led us to invest significantly in innovation to make stores smarter and more agile. We are excited about our new solution launches over the next few months that are aligned with the critical business priorities and challenges of our customers and rooted in the latest innovative technology like A.I. Every shopper deserves the best possible experience. We empower retailers with the technology and know-how to reimagine and deliver unified retail experiences that create meaningful, personalized interactions with each shopper meeting their preferences.
Building strategic partnerships and alliances is also instrumental in achieving a reliable growth cadence. We collaborate with other leaders within and outside the retail sector to create alignment and innovation that benefit our employees, customers, and partners to expand our value so we can empower retail to thrive and prosper.
Transforming Retail with ELERA
Rance Poehler, President & CEO
Toshiba Global Commerce Solutions
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Empowering Grocery Retail Titans
Sylvain Perrier, CEO of Mercatus
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From Aisles to Profits
Jason Hosking, CEO, HIVERY
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Empowering Global Brands with Unmatched Commerce Experiences
Vanessa Cartwright, CEO North America at Astound Commerce
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Sylvain Perrier, CEO of Mercatus, shares strategic insights and outlines the path forward while delving into Mercatus' pivotal role in the digital evolution of the grocery retail landscape.
Unpacking Digital Transformation in the Grocery Sector
Retailer Education: Navigating the Landscape of Online Grocery
Fulfilling Client Aspirations: Establishing a Robust Foundation
Actionable Insights and Customer-Centric Strategies for Profitability
Mercatus Platform's Unique Selling Proposition: Extensive Third-Party
Navigating the Future: The Path Ahead for Mercatus
Sylvain Perrier is President & CEO of Mercatus, a leading provider of grocery eCommerce solutions. Perrier is highly sought after with over 20 years of executive-level experience in retail technology, pushing the boundaries in specialty areas such as mobile commerce, web technology, in-store operations, and Software as a Service (SaaS) architecture. In addition to his executive responsibilities, Perrier hosts the Digital Grocer podcast and is a recipient of Grocery Game Changer award by the editors of Winsight Grocery Business and was named a Top 10 Influential in Retail by RIS News. He is also RetailToday's Leadership Council member.
Much of our impact revolves around championing consumer advocacy, emphasizing the importance of a robust and user-friendly shopping experience. We've played a pivotal role in helping retailers recognize the intersecting dynamics between in-store and online operations, asserting that the core concepts of the grocery industry translate seamlessly to the digital realm, garnering consumer acceptance. Simultaneously, we emphasize the importance of discerning which in-store practices may not translate effectively to the online domain, recognizing that time is a precious commodity in the online consumer experience. Our extensive efforts in educating retailers on these principles underscore their significance in driving a successful online business.
In the current economic landscape, our discussions often commence by addressing macroeconomic factors such as the impact of interest rates, labor costs, and the range of available SKUs within the store. This inevitably leads to a deeper exploration of consumer behaviors, including what they are purchasing, visit frequency, basket sizes, and unit quantities. The conversation then naturally evolves around the features and functionalities that retailers are employing to retain customers, especially considering the trend of consumers trading down in response to economic challenges. We equip them with insights and tools to align with their customers' values, often involving collaborations with third parties.
Comparing our current discussions with early adopters to those in previous years, early adopters today are more informed and educated, having had time to observe and learn from retailers with successful e-commerce programs. While their awareness is an advantage, the challenge lies in managing their appetite for a comprehensive e-commerce program all at once. Conversations shift towards strategically layering an encompassing e-commerce program that aligns with the retailer's aspirations while considering variables like cost control and profitability. Recognizing the continuous progression of consumer technology adoption, the art lies in phasing in a program with a robust foundation that meets current needs and is poised for growth as the industry evolves.
The recent pandemic and the prevailing macroeconomic conditions have instigated substantial changes, particularly in labor management within a retailer's operations, notably at the store level. Technology is gradually permeating these operations, empowering associates not only to perform their core functions but also to better serve consumers. A notable resurgence in self-service technology is observed, despite challenges related to fraudulent activity, both online and in-store. Recognizing shrink as a pervasive challenge for retailers, there is a significant opportunity to place self-serve technology directly in the hands of consumers. Additionally, exploring the synergy between technology in the hands of associates and improved communication with shoppers, whether at home or in-store, represents an untapped area of potential. As the tech-savvy boomer generation ages, particularly those comfortable with technology, there is anticipation of a transformative surge in the shopping experience, offering exciting prospects for the industry.
Mercatus has played a pivotal role in helping retailers recognize the intersecting dynamics between in-store and online operations, asserting that the core concepts of the grocery industry translate seamlessly to the digital realm, garnering consumer acceptance.
At Mercatus, we perceive our contribution as twofold. Firstly, it revolves around actionable insights derived from monthly industry occurrences, enabling retailers to correlate their performance with these insights. This is crucial as it empowers retailers to strategically adjust their plans, fostering profitability, customer support, and enhanced control over their programs.
Secondly, our role involves the challenging task of working with retailers to question the status quo, encouraging them to reconsider their approach to e-commerce programs and prioritize customer-centric experiences. This may involve the adoption of different technologies or solutions available in the market or even operational adjustments within their stores, all aimed at enriching the customer experience and, in turn, facilitating cost control and achieving profitability.
We call upon retailers to question the status quo, encouraging them to reconsider their approach to e-commerce programs and prioritize customer-centric experiences. This may involve the adoption of different technologies or solutions available in the market or even operational adjustments within their stores, all aimed at enriching the customer experience and, in turn, facilitating cost control and achieving profitability.
The Mercatus platform caters to retailers' diverse needs, providing options such as a digital native advertising integrated with Citrus ad, a critical Integrated Product Sampling program with Swish Brand Experiences, and an incredibly flexible labor model. This flexibility is made possible through our direct integrations with multiple third-party providers, including Instacart, Shipt, DoorDash Drive, and T4. Retailers can make strategic decisions, choosing between in-store labor and third-party services based on their preferences. The platform allows them to tailor their approach further, deciding whether certain stores should be affiliated with DoorDash or another group with Instacart. This adaptability underscores the Mercatus platform's commitment to providing retailers with a high degree of flexibility. Moreover, our platform boasts expansive third-party integrations, offering retailers a wide array of options to enhance their operational capabilities.
With over 60 integrations, our platform excels in providing a comprehensive solution. We offer the unique capability to earn and redeem points at checkout through seamless integration with various offer management systems, encompassing all major platforms available in the market today. Notably, our platform's remarkable feature allows users to adjust their cart at checkout, enhancing the experience, especially when clipping coupons. The exceptional flexibility of our platform is a standout quality.
Moreover, what sets us apart from the competition is the genuine commitment and expertise of the individuals at Mercatus. Our team cares deeply about their work, bringing a wealth of knowledge to their collaborations with retailers, ensuring a level of dedication that goes beyond industry standards.
Many experts argue that e-commerce in the grocery sector is commoditized, wherein the processes of searching, adding items to a cart, and checking out become somewhat mechanical and repetitive. However, there are still significant opportunities for grocery retailers to set themselves apart in two fundamental areas.
Firstly, the reason customers choose a particular grocery store often lies in their passion for the brand and how well it aligns with their core values. Whether it's about nourishing their families, saving money, discovering new products, or experiencing exceptional service, retailers should ensure that their core brand values are prominently reflected on their website and mobile application. This can be achieved by emphasizing aspects such as helping customers save money or being the preferred neighborhood location.
Secondly, a crucial area for differentiation lies in the operational model for order fulfillment, either within the store or through delivery. Balancing quality with cost management is essential, providing an opportunity for retailers to stand out. Moreover, in cases where third-party delivery services are used, maintaining brand integrity is key. Retailers should be adaptable while holding third-party services accountable to their standards and expectations, ensuring a consistent representation of their brand values. These three factors contribute to the distinctiveness of clients on the Mercatus platform in the competitive e-commerce landscape.
Firstly, our extensive experience stands out, especially in handling large, intricate programs involving the integration of diverse third-party systems, ranging from loyalty and payment to CRM and couponing. This expertise is ingrained in Mercatus's DNA, enabling our platforms to adeptly manage complex transaction compositions and handle substantial volumes of data.
Additionally, our collaborative approach sets us apart. Unlike a belief that we can do everything, we prioritize working with other exceptional solutions prevalent in the market—many of which retailers have already engaged with. This collaborative effort extends to ERP, inventory management, CRM solutions, and loyalty programs, combining the strengths of these platforms into a unified solution. This, when placed in the hands of consumers, achieves two significant outcomes: it provides retailers with a comprehensive 360-degree view of their customers and, more importantly, ensures a seamless and frictionless buying experience for shoppers.
Mercatus' platform is designed to be unbiased and neutral in terms of third-party connections. We have integrations with notable entities like Salesforce, Eagle Eye, Instacart, DoorDash, and Shipt. Fundamentally, it equips retailers with versatile tool sets, allowing them to seamlessly interchange components. This flexibility proves crucial for operational ease within their stores, geographical areas, and, most importantly, in serving their respective communities.
The second principle revolves around the adaptability of core market technology, ensuring evolution over time. An exemplar of this is the platform's capability to assimilate diverse datasets and eventually employ regenerative AI to assist consumers. Demonstrated in certain markets, the platform can generate recipes based on ingredients in a user's pantry. Additionally, users can inquire about tailored dietary preferences, such as a 2200-calorie Keto Diet, receiving product recommendations from their preferred grocery retailer. The system then compiles these recommendations into a shopping cart. At the core of every e-commerce system is a foundational platform that must adapt to market changes, a principle embedded in Mercatus' approach.
The macroeconomic landscape suggests a likely increase in interest rates, with the ten-year bond yield surpassing 5%. Recent shifts in unemployment numbers, accompanied by layoffs and ongoing geopolitical factors like the war in Israel, are poised to impact commodity prices, particularly in late fall and winter, notably affecting wheat. The repatriation of tech workers due to these global events may further influence the economy.
Despite these challenges, the resilience of e-commerce remains evident. Despite interest rate hikes over the past year and a half, there hasn't been a significant retreat from e-commerce observed since the pre-pandemic period in 2019. The latest figures for September 2023 show a substantial increase in sales, $2.9 billion to $7.8 billion. However, there's a noticeable shift in consumer behavior, with a more cost-conscious approach. Consumers are opting for smaller format sizes while maintaining similar basket values, indicating a preference for favorite products in reduced quantities.
Anticipating continued trends, the industry is likely to witness a significant shift towards in-store pickup and curbside options. Consumers are expected to leverage these services more frequently, reserving delivery for instances of extreme time constraints or when cost savings can be offset with discounts, coupons, or promo codes. Mercatus aims to play a pivotal role in facilitating these evolving consumer preferences within the dynamic e-grocery landscape.
Grocery retail has 96% household penetration rate. That's impressive and underscores the significant value that Mercatus is catering to that community. Because of the recurrent nature of consumer interactions, we at Mercatus have the ability to influence and drive engagement and conversion on behalf of retailers. However, considering the current global landscape and its likely persistence for the next 3 to 4 years, strategic adaptations become crucial.
In shaping the direction of our business, the emphasis lies in forging partnerships with organizations offering tools and applications that empower consumers to better engage with retailers, optimize their spending, and relish a frictionless shopping experience. As Mercatus functions as the glue behind the scenes, our goal is to seamlessly integrate these components on mobile or web platforms.
The evolving retail market dynamics in the United States, characterized by mergers and heightened e-commerce focus, underscores the changing landscape. Tier one retailers are simultaneously becoming more concentrated and expansive, evident in mergers like Albertsons Kroger and Walmart's intensified e-commerce efforts. While Amazon's position remains uncertain, their increasing collaborations with retailers indicate a changing landscape.
At Mercatus, we are committed to help retailers in navigating the intricate ties between technology, the economy, and consumer behavior. Identifying trends and patterns guides our mission to educate the industry through research, product release videos, and collaborative discussions. This commitment stems from our role as strong stewards, consistently understanding the intersections of technology, the economy, and consumer adoptions. By spotlighting emerging trends and fostering collaborative conversations, especially at the regional level, Mercatus aims to ensure retailers remain competitive and capable of serving their markets effectively. Exciting developments are underway, and we are eager to continue shining a spotlight on these industry advancements.
Experts argue that e-commerce in the grocery sector is commoditized, wherein the processes of searching, adding items to a cart, and checking out become somewhat mechanical and repetitive. However, we believe there are still significant opportunities for grocery retailers to set themselves apart.
The essence of my life's purpose is straightforward. Primarily, I aim to assist individuals in their self-improvement journey, aiding them in problem-solving and guiding them toward progress. This is achieved through my commitment to mentoring, fueled by curiosity and empathy. Whether collaborating with engineers to troubleshoot or engaging in broader discussions with the exceptional individuals at Mercatus and retailers globally, I find joy in contributing without overwhelming the process. I derive satisfaction from supporting our Mercatus team members and relish insightful conversations with retailers across North America, Europe, and Southeast Asia. Exploring industry nuances, store designs, technological challenges, and economic impacts allows me not only to initiate meaningful dialogues but also to propose potential solutions. Ultimately, my success is measured by two criteria: learning something new each day and collaborating with others to co-create, an endeavor that spans a wide range of possibilities.
For leaders, it's crucial to be a history student, dedicating time to delve into geopolitical issues, cultural histories, and the early formations of countries. For instance, when confronted with current events like the Ukraine-Russia war, I immediately turn to relevant books to understand the underlying reasons. I also meticulously curate my media consumption, reading newspapers globally to grasp high-level headlines and correlate their impact on foreign policy and the business community.
Another practice I follow, both individually and with my team quarterly or semi-annually, is the pestle exercise. This strategic analysis helps us understand external forces affecting a business from political, economic, sociological, environmental, technological, and labor perspectives. Combining these practices provides a comprehensive view of the business landscape, enabling preparation for various scenarios.
For example, anticipating the potential recall of employees to Israel during a conflict allowed proactive responses to maintain service levels. This foresight, akin to having a crystal ball, extends to instances like the early pandemic labor shortages, where we recommended adjustments to retailers' web stores.
I encourage fellow executives to consume, curate, and read, emphasizing the importance of preparedness. Leveraging the diversity within our multicultural team at Mercatus is integral. By listening to their perspectives, rooted not only in their daily work but also in their backgrounds and locations, we stay adaptable to navigate crises and industry demands effectively.
Transforming Retail with ELERA
Rance Poehler, President & CEO
Toshiba Global Commerce Solutions
READ MORE
Empowering Grocery Retail Titans
Sylvain Perrier, CEO of Mercatus
READ MORE
Beyond Shelves:
From Aisles to Profits
Jason Hosking, CEO, HIVERY
READ MORE
Empowering Global Brands with Unmatched Commerce Experiences
Vanessa Cartwright, CEO North America at Astound Commerce
READ MORE