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As retail is moving more and more online, there is still a place for the bricks and mortar equivalent. The two channels need to be integrated seamlessly to succeed. This presentation demonstrates how that can be done through deeply understanding the market and by placing the Customer Experience at the centre.
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Building a True Customer Experience through Integrating Retail Channels
1 Jan 2014
“The major cause of disruption is the rapid advancement of technology and
globalisation, which allows new business models to be introduced at an ever-increasing rate and with rapidly
declining costs. The truth is, at this very moment your company is most likely either disrupting other companies or being disrupted.” Forbes Magazine,
April 2013
What market shifts have lead to where we are…
Technology Consumers Payment Systems
Online literacy
Internet speed
Security / convenience
…And online shopping is set to grow further still
Pre-digital value chain
Distribution Monetisation ExperienceProperty Rights Products
Creation
Consumption
Source: Scott Dinsdale, Accenture 2013
Emerging digital landscape
Distribution Monetisation ExperienceProperty Rights Products
Source: Scott Dinsdale, Accenture 2013
Source: Gabay, J. Jonathan, 2000. Successful Cybermarketing in a Week
The digital adoption has come at an unprecedented rate
Time taken to attract 50 million users...
Wireless 38 years
Television13 years
Internet4 years
The spike in mobile devices leads to an increase m-commerce
Next is wearable devices
The Internet of things
As consumers become more comfortable with transacting online newer devices are created: m-commerce and Smart TVs providing t-commerce
Online retailing in Australia
Revenue: $12.4bn
Annual growth: 24.1%
Profits: $481.7m
Businesses: 38,594
Source: IBISworld
Australian retailers are not only competing with each other but overseas retailers as well…
…and they are intensifying (more retailers are emerging)
When the Australian dollar is expected to falls, the demand for our retail products increase
Men spent an average of $229 on online goods a month,
while women spent $204.
90% of all online transactions in the past year were for products under $100
How the retail business model is changing
Those who survive will have differentiated themselves and engaged with a loyal fan base
Any advantages for Australian retailers?
Its not just about being seamless across channelsIt’s about seamless integration across the business
Moving to omni-channel marketing
Mobile
Product experts
Online
In-store
Phones are now used as price comparison tools at the point of sale
Consumers will abandon the purchase if they find it cheaper online
Compare in-store
Innovative apps that tie-in real life and virtual together
App to try on clothes online
Rate them on Social Media
Try it on in-store with a
professional stylist Now that you know the fit
– follow on Social Media sites such as Instagram
Meet Angela
Angela looks for shoes she loves online.Stores that do well carry a wide range, good price and are easy to purchase
AND THERE ARE MANY OFFERING THIS
Those that break through also offer…
….fast delivery with free shipping and returns
Size 37
Size 38
Size 39
Shoe size 7½
They way she shops…
Business Models
Modularise
Offer limited range
Customers build their options
Priced according to their final configuration
Tapped into the insight that some customers just want to go away for a weekend/ short
getaway and don’t know where to go
EXPEDIA
It all start with tapping into the customer insight
Invite your girlfriends and have a girls night in, courtesy of (insert luxury women’s label or department store here) With catwalk, nibbles, shoes, bags and stylists to provide guidelines to choosing the right styles and colours for you and how to accessorise. Personalised fittings, photo shoot and catwalks.
Theme in relation to Spring Racing Carnival, Valentines’ Day, Weddings, Birthdays, Hen’s parties … go viral on Social Media
Creating the customer experience
Fresh produce. Educate consumers on the various types, origin, food process, food matching and cooking lessons.
Add some visual appeal, create a museum or barn yard and get people talking about it and even eating there.
Stimulate the senses.
Fresh produce experience
Pop-up stores to bring online retail to life
Success measures are changing….
Less about stock being moved
More about……
Experience,
knowledge and
Assistance
Business models need to change
For fresh ideas and thinking contact us at:
info@marketintelligenceagency.com.au today
For more information on our services go to
www.marketintelligenceagency.com.au
THANK-YOU
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