The Challenges and Choices Fashion Brands face when going Mobile

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  • 1. The Challenges and Choices Fashion Brands face when going Mobile Jonathan Setty, Sales Director, MoPowered PLC 1 Lancaster London Lancaster Terrace, London W2 2TY 8th April 2014
  • 2. I love this slide! 2008 this is the year of mobile 2009 THIS is the year of mobile 2010 this IS the year of mobile 2011 this is THE year of mobile 2012 this is the YEAR of mobile 2013 this is the year of MOBILE 2014 this is the year of mobile SHOPPING 2
  • 3. Consumer adoption vs. Mobile Shopping lag Population Time Mobile Adoption Mobile Shopping 3
  • 4. Challenges Facing Fashion Retailers what to consider ? 4 Key Challenge I Checkout Abandonment : Monetising Mobile Key Challenge II - Apps - but all the other stores have one Key Challenge III - Future proofing your fashion brand Wearable tech - would you wear this ?!
  • 5. 5 The MoPowered PLC story
  • 6. 6 2007 2009 2012 2014+ 120 customers across mobile web/apps/tabletDeveloped the MoPowered m-commerce Platform Additional in-App commerce functionalityPioneered Mobile Banking MoBank The MoPowered PLC story
  • 7. Partners with Leading e-commerce Technology Companies 7
  • 8. 120+ retailers on our platform and over 50 more. 8
  • 9. 9 Key Challenge I Monetising the Mobile Channel What am I looking to achieve for my fashion brand. Revenue Uplift? Customer Experience? Engagement? How do I demonstrate an ROI? What do I need to address to achieve the above? In mobile, you need to rethink payment and provide the best user experience M-commerce is set to quadruple to 2017
  • 10. 10 Factors that affect success on Mobile Speed/performance Navigation Checkout Page weight Image size Web technology Simple/mobile specific Task driven Quick/text light Mobile payment options
  • 11. Lots of spent on branding & acquiring traffic Paid Display Paid Search Affiliate Sponsorship Earned SEO WOM Buzz Viral Owned Websites Mobile Blogs Social Accounts ROI Traffic acquisition spend For every 80 spent on acquisition only 1 is spent on conversion. Forrester Research Low relevance and poor experience produces low: Engagement Conversion rates Average order value Retention 3% 11
  • 12. 12 Checkout abandonment is the biggest challenge 97% Mobile shopping basket attrition rates are around 97%
  • 13. 13 Mobile Channel Business Case
  • 14. Solving the Problem by Addressing the Issues 14 Every 100ms delay costs 1% of sales Turn frustrated browsers into happy buyers through speed and performance improvements Develop navigation on mobile which is contextual and follows best practice Tailor your checkout to the mobile experience Theres a direct correlation between page load speed and conversion Andy Harding (Executive Director, Multi Channel @ House of Fraser)
  • 15. Streamlining Checkout Fast. Light. Easy
  • 16. Streamlining Checkout Fast. Light. Easy =
  • 17. Challenge I - Summary 17 Select a partner with demonstrable mobile experience with live successful sites Ensure any partner is willing to commit to an ROI based on conversion uplift Ensure the cost of support and maintenance is in-line with an on-going ROI no nasty surprises! Before Difficult to view, browse, checkout After Easy to shop and purchase
  • 18. 18 The Mobile vs. App debate Key Challenge II I want an App too
  • 19. Mobile vs. App Not strictly an either or decision. UserExperience Cost & Time to Market Mobile Web RIM iOS Windows Android 19
  • 20. Challenge II - Summary 20 Use data to determine the outcome your customers are your insights! Leverage off the existing integration / mobile site Speed Navigation Checkout
  • 21. Key Challenge III - Future-Proof your Fashion Brand 21 1 2 3
  • 22. 22 Key Challenge III - Future-Proof your Fashion Brand If possible, leverage off the existing integration / mobile site when building for new devices
  • 23. NFC Heartbeat Service Availability QR Codes Uptime MI Vouchers Messaging CMS Data Access Layer Business logic HMTL rendering/device API A truly modular architecture, delivers across devices CLIENT 23 iBeacon
  • 24. How times have changed 24
  • 25. And finally would you ever wear this ??! 25 Holographic leather reacts to sound. As volume increases, it begins to illuminate and make "visual music." The bathing suit reacts to light, with the centre panel turning into purple dots in the sun Eye-tracking technology, - move when someone is looking at them. When the garment is gazed at for a time, tiny motors move parts of it in patterns. They also glow. covered in photo- luminescent thread
  • 26. Thank you Jonathan Setty 07798 886 526 Jonathan.setty@mopowered.co.uk @sonjetty 26