Redirecting Retail in a Slowing Economy
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Redirecting Retail in a Slowing Economy

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With spending down and earnings slipping, how can brands entice youth to buy? To better understand the problem and source solutions, we repeated our retail priorities study and investigated retail in ...

With spending down and earnings slipping, how can brands entice youth to buy? To better understand the problem and source solutions, we repeated our retail priorities study and investigated retail in many of its forms – across categories and (physical or virtual) locations.

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Redirecting Retail in a Slowing Economy Redirecting Retail in a Slowing Economy Presentation Transcript

  • www.thebergstromgroup.comREDIRECTINGRETAIL IN CHINAHow to lure young consumers in a slowing economy
  • IntroductionWith spending down and earnings slipping, howcan brands entice youth to buy? To betterunderstand the problem and source solutions, werepeated our retail priorities study (previouslyconducted in 2008 and 2010) and investigatedretail in many of its forms – across categories and(physical or virtual) locations.
  • www.thebergstromgroup.comTOP 10 RETAILPRIORITIES
  • TOP 10 RETAIL PRIORITIES: 2013Young consumers arelooking for distinctrelevance and advantage– Consumers’ biggestconcern is safety– Their prioritization of Quality,Reputation, andCleanliness reflect a focuson safety and hint at a nextera that highlights trustRead our original posthere
  • TREND WATCHING 2008-2013As the pace of growth in the market declines, brands need to take theopportunity to develop a deeper relationship with consumers. Eager brandsare still zooming in on China and hunting to expand their presence butdespite enthusiasm, we see retailers confronting significant problems.Check out our 2008 results in Women’s Wear Daily and 2010 resultsin AdAge
  • www.thebergstromgroup.comENHACING IN-STORE
  • THE OPPORTUNITIES OF E-COMMERCEIndependent B2C has increased itsshare from 6% in 2011 to 22% in 2012in online apparel spendA slow execution across the board indigital performance (site, social media,mobile, and digital marketing)– Not one brand from L2s study earned the“genius” rank yet– The studys estimation of fashion brand IQ isdown 12 percent from the 2011 index asbrands have been slow to localize contentand launch e-commerceL2’s report on fashion brands’ digital performance in China 2013
  • THE RISE (+ FAIL) OF ONLINE RETAILThe Rise: Unique Brand and OfferingEx: Neiman Marcus’s onlinepresence hopes to bring in the nextwave of luxury and designer marks toan audience eager to stand apart– NM Edits includes trend reports, guides tomixing & matching patterns and colors,introductions to designer brands, and aninteresting “affordable luxury” section.The Fail: Cumbersome PaymentsEx: Lane Crawford slows downpurchases– Consumers need to be over 18 years ofage– Customers can not pay via Alipay and arecharged delivery fees– Sales terms and conditions are issued inEnglish.Read our original post here
  • GOURMET EXPERIENCE STOREStarbucks’ 1st gourmet experience store opened in Beijings OrientalPlaza– 17 freshly made bakery items and meals exclusively designed for the store– A coffee flavor lab with special coffee containers, coffee beans, and coffee plants– Regular lectures given by baristas on origin, breed, tasting and other expertise– Customers’ orders are delivered by baristas to tablesRead our original post here
  • DIGITIZED RESTAURANTSPopular Sichuan restaurant chainSpicy Joint is finding ways to enhancediners’ in-store experience– Launched an app that allows users toreserve tables, order food, downloadcoupons, and get updates on wait times– Creates magazine-like menu monthly– Allows customers to take the menu homeafter the mealRead our original post here
  • IMPORTING UK HOUSEWIFECULTURECath Kidston adds credibility togrowing housewife culture in China– Everything is British and unabashedlyvintage – Including London metro mapsand British royal guards– Adding credibility, the label on the backof table cloths shows a UK phonenumber– Cook books and other how-tohomemaker guides allowingconsumers to walk the walk and well,cook the cookiesRead our original post here
  • Young assistants act asmodels for the brand– Mainland Chinese assistantsfrom Rope Picnic are given styletraining to best represent thebrands aesthetic– Shop assistants serve asmodels for the brand onlineRead our original post hereCheck our earlier post onshop brandambassadors: Japanesebrand create mini celebritysales forcesASSISTANTS AS BRANDAMBASSADORS
  • www.thebergstromgroup.comWHO WE ARE
  • Established in 2006, The BergstromGroup has developed a reputation forproviding vivid customer immersions forbrands and agencies. We began ourcommitment to China by focusing onyoung consumers.Based in Shanghai but spread acrossChina, our on-the-ground team of subjectmatter experts, researchers,trendspotters and creatives is dedicatedto telling the story of new China in a waythat is both authentic and actionable.OUR STORY
  • OUR BOOKALL EYES EAST:Lessons from the Front Lines ofMarketing to China’s YouthBy Mary Bergstrom+ Top 5 Marketing Books of the Yearby Expert Marketer
  • www.thebergstromgroup.comwww.alleyeseastchina.comGETCLOSER