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THE FUTURE OF RETAIL

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THE FUTURE OF RETAIL Ian Harris © 2014 Netstarter


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LANDSCAPE TODAY Online pure plays continue to steal market share from traditional retailers. Providing context-rich information ie. more relevant, and personalised shopping experiences = higher conversion rates and increased customer loyalty. Retailers must create a consistent experience across Web, mobile, telephone, retail, print © 2014 Netstarter


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LANDSCAPE TODAY Retailers must bridge the gap between off and online. Social and Mobile combination allows retailers to leverage customer info from everywhere eg. shopping history or activity on social networks and offer contextually relevant offers while they are on the move. © 2014 Netstarter


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© 2014 Netstarter


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IMPLICATIONS FOR COMMERCE No "e" Physical store footprints will need to adapt Blending experience across physical and digital channels Personalisation on a mass scale in based on who you are and what you do in both physical and digital channels Retailers will need to change how they measure success in physical channels Supply chain will need to find different ways to meet the economic challenge of omnichannel © 2014 Netstarter


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CUSTOMER PROFILE 70% of customers are looking online before purchasing Ethical sourcing required Don’t care about your ‘channels’ Demographics causing divergence in desired experience Getting used to multiple browser windows open I expect you to know me but don’t stalk me © 2014 Netstarter


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RETAIL IN 2020 Bringing the best of digital into a physical environment Digital change rooms The same content as online e.g. reviews Stores are ‘showrooms’ Borderless ecommerce Big data driven marketing and merchandising Where to market it Who to promote it to What to sell Which store to sell it in Purchase behaviour shared between channels © 2014 Netstarter


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PULLING IT TOGETHER © 2014 Netstarter


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TECHNICAL CHALLENGES TO SOLVE Where is your customer data? How do we get it all in one spot? Worry about what you will do with it later. It becomes your most important asset (after your people of course) Where is all your product info, images, reviews etc. Get that all in one spot Decide how you get that information into the hands of the front end that needs it (physical or digital) © 2014 Netstarter


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BUSINESS CHALLENGES TO SOLVE Analytics have meaning across all channels Supply chain logistics will need to optimise to cope with increase in online ordering Motivating and remunerating sales staff in each channel for value added, not just sales Cross border Commerce; shipping, taxes, duties, customer service, Multilanguage, multicurrency, multiDC Allowing customers to see the end to end supply and logistics chain Product decisions will be made based on who buys what, where © 2014 Netstarter


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THE OPPORTUNITY IS NOW Find a partner Build a roadmap, take your time Change the conversation with your customer first Deliver a new retail outcome © 2014 Netstarter


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THANK YOU © 2014 Netstarter


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