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UnifyIn-StoreAndOnlineSystemsToTransformTheCustomerExperience
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FindOutWhyLovesacChoseAUnifiedCommercePlaDormToAccelerateOmnichannelSuccess
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#OmniSuccessRetailTouchpoints:@RTouchPoints
DebbieHauss:@DhaussNetSuite:@NetSuite
BrandenJenkins:@brandenjenkinsLovesac:@lovesac
RetailSystemsResearch:@rsrresearch
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AboutRetailTouchPointsü Launchedin2007
ü Over30,000retailsubscribers
ü ToprovideexecuGveswithrelevant,insighDulcontentacrossavarietyofdigitalmedium
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RyanJohnsonChiefOperaGngOfficer
@lovesac
SteveRowenManagingPartner
@rsrresearch
Panelists MODERATOR:DebbieHaussEditor-in-Chief,RetailTouchPoints
BrandenJenkinsGeneralManager,GlobalRetail
@NetSuite
ClosingTheGapBetweenOnlineAndIn-StoreRSRBenchmarkReport2015SteveRowen
6
TheBOOTMethodology©
Theysellmore“stuff”but…theyalsothinkandactdifferentlythantheircompeGtors.
RetailWinners:Year-over-yearcomparablestoresalesoutperforminflaGon.
BusinessChallenges
Opportuni?es Organiza?onalInhibitors
TechnologyEnablers
7
What’sItAllFor?
31%
54%
59%
64%
64%
64%
67%
68%
68%
84%
33%
30%
39%
34%
31%
32%
30%
29%
30%
16%
36%
15%
2%
1%
2%
3%
3%
3%
2%
0%
Emphasizedigital,de-emphasizestores
Bewherewedon’thavephysicalstores
Growintonewmarkets
Drivesalestostores
ProvideaconGnuousshoppingengagement
GeneratemoresalesinourexisGngmarkets
GeneratenewvaluecreaGngopportuniGes
Drivedirectsales
CreategreaterefficienciesinourexisGngoperaGons
Buildbrandawareness
TheImportanceOfADigitalPresenceTo:
VeryImportant SomewhatImportant NotImportant8
TheStateofTheUnion
17%
23%
31%
31%
51%
59%
46%
55%
29%
14%
16%
13%
2%
3%
7%
1%
ReplacinglegacyPOSwithneweromni-channelcustomerPOSwouldbetooexpensiveanddisrupGve
We’reawareofviablecustomerordermanagementsystemsthatcantraverseallsellingchannels
OurlegacystorePOSsystemisholdingusbackfromprovidingaconsistentcustomerexperienceacrossallchannels
Thereareimportantdifferencesbetweenin-storePOSandeComordermanagementsystemsthatmustbeconsidered
RetailerSenGment
StronglyAgree Agree Disagree StronglyDisagree
9
14%
17%
28%
26%
24%
34%
38%
41%
ReplacinglegacyPOSwithneweromni-channelcustomerPOSwouldbetooexpensiveanddisrupGve
We’reawareofviablecustomerordermanagementsystemsthatcantraverseallsellingchannels
OurlegacystorePOSsystemisholdingusbackfromprovidingaconsistentcustomerexperienceacrossallchannels
Thereareimportantdifferencesbetweenin-storePOSandeComordermanagementsystemsthatmustbeconsidered
RetailerSenGment"StronglyAgree"
Winners AllOthers
ForWinners,ACompletelyDifferentLens:InMuchSharperFocus
10
UniversalAccord
18%
20%
21%
41%
48%
45%
53%
46%
52%
47%
30%
26%
28%
5%
5%
7%
1%
5%
1%
We’rehappywiththein-storeexperiencewecurrentlyprovideourcustomers
We’rehappywiththeonlineshoppingexperiencewecurrentlyprovideourcustomers
Thestoreexperienceisuniquefromthedigitalexperienceandthetwoarenoteasilyharmonized
WehavetodoabeKerjobaccommodaGngayounger,moretech-savvyconsumer
ThestoreandthedigitalexperiencemustbebroughttogetherforaconGnuous,seamlessexperience
FurtherSenGment
StronglyAgree Agree Disagree StronglyDisagree11
It’sADigitalHorizon
24%
47%
23%
6%
12%
32%
46%
10%
Morethan75%
25-75%
10-25%
Lessthan10%
PercentOfTotalSalesInfluencedByDigitalShoppingBehaviors
Today In3Years12
25%
33%
16%
32%
26%
33%
37%
25%
37%
28%
10%
14%
21%
24%
24%
28%
31%
38%
48%
48%
OurcompeGtors'mergingofphysicalanddigitalofferingsis
CustomerdissaGsfacGoncausedbylackofintegraGon
Fastpaceofchangeinconsumertechnology
DifficultydifferenGaGngourselvesfromourcompeGtors
AccommodaGnghowdifferentcustomersegmentsengage
KeepingupwithevolvingconsumershoppingpaKerns:social
Customersexpectaseamlessexperiencebetweendesktop,
Consumersareusingmobileaspartoftheirshopping
Needtoimprovecustomerservicewhileholdingthelineon
Providingmorewaysforconsumerstoconnectthroughour
Top3BusinessChallengesInCreaGngASeamlessCustomerExperience
Winners AllOthers
ButWinnersAlreadyHaveALegUp
13
TheHouseLoses:ForNow…
30%
35%
5%
25%
19%
40%
26%
46%
37%
35%
3%
10%
17%
21%
31%
35%
35%
48%
48%
52%
Addself-servicecustomer-facingtechnologiesinthestore
"Savethesale"or"endlessaisle"attheshelf
Broadenourassortment(endlessaisle,etc.)
Improvingthepaymentprocessacrossallsellingchannels
Enhancethein-storeexperiencewithdigitaltouchpoints
Focusonamoreconvenientcustomerexperience
Improvingcross-channelfulfillmentcapabiliGes
MorepersonalizedaKenGon/servicefromouremployees
Deepercustomerengagementtodrivesalesthrough
Bringmoreofadigital/onlineexperiencetostores
Top3Consumer-FacingOpportuniGesInCreaGngASeamlessCustomerExperience
Winners AllOthers14
11%
23%
24%
31%
34%
35%
36%
48%
57%
HRself-service(scheduling,Gmeoffrequests,etc)
Tohaveaphysicalstorethat’sasinteresGngtoourpotenGal
Offeremployeestrainingtoolsthatuseafamiliaruser-
TeamcommunicaGons
ProvidingricherproductdetailinformaGon(photo,video)to
FindwaystomakeourstoreemployeesmoreproducGve
Mobilein-storeconciergetoalleviatesomeofthesales
Provideabilitytolocateandsellmerchandisefromanywhere
Offerstoreemployeesselling&producGvitytoolsthatare
Top3Employee-FacingOpportuniGesInCreaGngASeamlessCustomerExperience
…ButChangeIsInTheAir
15
HalfEmpty?HalfFull?
7%
12%
12%
20%
29%
43%
55%
55%
52%
65%
63%
53%
36%
34%
35%
15%
8%
3%
Technologytraining
Selling&customerservice
Cross-channelselling&fulfillment
Restocking/shelfmanagement
Inventorymanagement(receiving,transfers,etc)
AdministraGvetasks(corporatepaperwork&processes)
StoreEmployeesTimeSpent
TooMuchTime RightAmountofTime NotEnoughTime16
TheFastPaceOfTechAdop?onIsASignificantChallenge
7%
15%20%
41%34%
24%
3%8%
15%
34% 35% 36%
AdministraGvetasks(corporatepaperwork
&processes)
Inventorymanagement
(receiving,transfers,etc)
Restocking/shelfmanagement
Selling&customerservice
Cross-channelselling&fulfillment
Technologytraining
StoreEmployeeTimeSpent"NotEnoughTime"
2014 2015
17
27%28%
36%37%42%43%44%44%52%59%63%65%66%
42%45%
59%51%
52%44%50%44%42%
38%34%30%28%
30%26%
2%9%5%
12%6%6%5%0%2%3%2%
Store-providedmobilehardwareforcustomersBYODmanagementinfrastructureforouremployees
SorwaretoassignacGonsforspecificstores/departmentsinDigitaldisplaysandinteracGvekiosks
SinglecommerceplaDormDetachablePOShardware(toenableline-busGng)
Clienteling/CRMsoluGonsforstoreemployeesEnterprise-widepaymentportaltohandleallpaymenttypes
Store-providedmobilehardwareforemployeesModernPOSsorwarearchitecturethatiseasilyintegrated
RealGmeproductinformaGonacrossallchannelsRealGmevisibilityintocustomeracGvityacrosschannels
Inventoryinsightacrossallchannels
TheImportanceOfInfrastructureTechnologyEnablers
VeryImportant SomewhatImportant NotImportant
VisibilityComesFirst
18
WinnersAreMoreEnthusias?c
30%
30%
58%
39%
54%
39%
53%
41%
52%
55%
55%
66%
66%
66%
In-StoreBeacons
Selfcheckout
EndlessAislesellingcapabiliGes
Digitalreceipts
In-storefulfillment
KPIsandalertstostoremanagersonmobiledevicesandtablets
Employeeassistedsellingmobilecapability
TechEnabledFeatures'Importance(Rated"VeryImportant")
Winners AllOthers19
• Address'TheVisibiliGes'- Enterprise-widevisibilityintoInventory,Customer,andProductremainsretailers’toptechenablerforsuccess
• ModernizePOS- Legacyin-storePOSisholdingretailersbackfromprovidingconsistentexperiences
• EmpowerAssociates- GivethemthemobiletechnologyandtrainingforcreaGngseamlesscustomerexperiences
BigTakeaways
20
2015
21
• Couches,Beanbags,Accessories• “TheCouchForLife”• 5+DefensiblePatents• OngoingPlaDormInnovaGon
• 60“Lovesac”Stores>$900psf• Lovesac.com>20%ofSales
• Steady25%-30%CompoundGrowth
WhatIsLovesac
22
60+ Stores 23
24
25
Lovesac Beanbags
26
27
28
Sactionals Couches
29
30
31
32
WeNeedtoBeQerUnderstandCustomersExpecta?onsandFindNewWaystoProvidetheExperiencethatwillDefineOurBrand
SalesbyChannelwithAcGveCustomerCount
DevelopingAWorldClassBrand
35,00055,00075,00095,000115,000135,000155,000175,000
$0
$50
$100
$150
$200
2013 2014 2015E 2016E 2017E 2018E
StoreSales($inMM) WebSales($inMM) #Customers
33
Mul?pleTouchpoints,allwithOpportunitytoDeliver“Personalized”ExperiencethatwouldAllowConsumerto
GetClosertotheBrand
LovesacCustomerJourney
34
CustomersExperienceOurBrandThroughCountlessTouchpoints,BringingthemtogetherSeamlesslyisan
OverwhelmingChallenge
CustomerInterac?ons
35
TechnologyRoadmap
WeareAggressivelyMovingtoaSingleCloudBasedEnvironmenttoReduceComplexityandMakeRelevant
Informa?onReadilyAvailable36
• ClearlyunderstandcustomerexpectaGonsaswebuildbrandawareness
• Createseamlessexperiencesbetweenstoresandotherchannels
• Referenceoneviewofthecustomeracrossallofourtouchpoints
• Deliverreal-Gmeinventoryandmakeiteasilyavailableforsalesassociates&customers
• ImplementamodernPOStosupportourneeds&ourcustomersneeds
• Train,train,trainouremployeesonhowtousenewtoolseffecGvely
• Ensurethateverythingwedotranslatestomobile
OurFocus–AchievingwithNetSuite
37
#OmniSuccess
Q&A|Panelists MODERATOR:DebbieHaussEditor-in-Chief,RetailTouchPoints
RyanJohnsonChiefOperaGngOfficer
@lovesac
SteveRowenManagingPartner
@rsrresearch
BrandenJenkinsGeneralManager,GlobalRetail
@NetSuite
#OmniSuccess
ThankYouForJoiningUsViewthispresentaGonon-demandat:hQp://rtou.ch/OmniSuccess
