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• Fortune 500 turnaround• P&L division leadership• Retail startup experience • SiriusXM Business Radio occasional co-host• CBS News interviews as retail expert• Board Director (including Weaver’s Way Co-op) • Harvard MBA
Linda Shein Managing Director, Wharton’s Baker Retail Center
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Wharton’s Baker Center Advisory Board
Baker Director’s Council: Retail Innovators Board
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EVERYTHING has changed yet
NOTHING has changed.
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The Customer is still King (or Queen). But now we must serve her seamlessly across multiple
touchpoints with personalized and engaging experiences.
Knowledge. Is. Power.
The Omnichannel Equation “the whole is greater than the sum of the parts”
1 + 1 = 3Omnichannel shoppers spend up to:
- 7x more per year than store-only buyers & - 9x more than online-only customers
Source: Sports Authority Omnichannel Initiative
Source: US Department of Commerce; Internet Retailer
Ecommerce growth over 10 years
Source: US Department of Commerce; Internet Retailer
E-Commerce Sales % of Total Retail
Mobile Has Become Primary Device for Online Activity
89%77%
68%56%
42%
11%23%
32%44%
58%
0%
20%
40%
60%
80%
100%
2011 2012 2013 2014 2015
Non-Mobile
Mobile
Percent of Online Retail Activity
Source: Internet Retailer 2014; eMarketer 2015; analysis
Mobile shoppers buy furniture
Apparel23% Spor;ngGoods19%
Furniture10%
Health/Beauty11%
Electronics8%PetSupplies6%Groceries5%
Books/Music/Games5%
AutoEquipment3%Toys/Kids/Baby2%OfficeSupplies1%
Source: Internet Retailer 2015
Mobile Purchase Percent Of Total eCommerce Category
69%48% 39% 29%
0%
20%
40%
60%
80%
Researchonline
Reviewsites SocialMedia Storesite
% Shoppers Using Pre-Commerce Online Sources
Source: Internet Retailer 2015
51%
28% 21%
0%
10%
20%
30%
40%
50%
60%
OwnDevice Kiosk/Display SalesAssociate
Shoppers Prefer Their Own Device For In-Store Assistance
In-Store Assistance:
• Price Lookup
• Product Information
• Item Availability
• Locate Product In-Store
Source: Deloitte Retail Study 2013
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Virtual & Augmented Reality: A Reality VR: digital recreation of real life AR: virtual elements overlayed on real world
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Bonobos opens storesthat don’t sell anything
Webrooming & Showrooming:An Omnichannel Phenomenon
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68%
32%
Yes No
70%
30%
Yes No
Browse in-store; buy online Showrooming Webrooming
Browse online; buy in-store Have you ever intentionally browsed products at a store, but decided to buy them online?
Have you ever intentionally browsed products online, but decided to buy them at a store?
Source: Global PwC 2015 Total Retail Survey
Instacart: Costco, Whole Foods, Co-ops
Food is the new black
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Thank you!Linda Shein
Managing Director, Baker Retail CenterThe Wharton School
University of Pennsylvania linkedin.com/in/lindashein
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