Eric Abensur, CEO at at First Tuesday and The Future Of Online Shopping


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This is a presentation from the First Tuesday Executive Breifing held Tuesday 3rd April 2012, ’The Future of Online Clohtes Shopping".

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Eric Abensur, CEO at at First Tuesday and The Future Of Online Shopping

  1. 1. Eric AbensurVenda Group Chief Executive
  2. 2. We now live in the age of new retailing, in amultichannel world…Their high street, theircomputer, their smartphone - all these offerdifferent ways of shopping [for consumers] andall are converging.Philip Clarke, Tesco Group CEO. 8 June 2011
  3. 3. About Venda• The world’s largest on-demand convergent commerce platform for retailers and manufacturers• Cloud-based solution for integrated web, mobile, social, call-centre and store channels• 250 people across three continents help our customers to grow their revenues in the most cost effective way• $1 Billion annual transactions in 2011 and growing
  4. 4. Venda powers leading multi-channel retailers ROMAN ORIGINALS
  5. 5. Online fashion retail is changing as customerbehaviour is changing
  6. 6. 12% Clothing and footwear already online UK clothing and footwear market £41Bn in 2011* Online market value £4.8Bn in 2011** Forecast £6.9bn by the end of 2015** Source Verdict Retail * Mintel ** 2011
  7. 7. No longer a straightforward journey…From thisTo this Source: New Consumer Behaviours 2010, Krillion & the e-tailing group 2010
  8. 8. …Consumer behaviour changing … Among cross-channel shoppers 51% want product immediately and 18% believe it is easier to return if purchase is offline 77% of online shoppers use reviews to make a purchase decision Conducted online research prior to purchase is required by 89% of consumers making in-store purchases Shoppers in stores 25% would like to have products delivered to homeSource: New Consumer Behaviours 2010, Krillion & the e-tailing group 2010
  9. 9. …creating significant opportunities for retailers Multi-channel shoppers spend 50% more than single channel shoppers Satisfied multi-channel users have higher attitudinal loyaltySource: New Consumer Behaviours 2010, Krillion & the e-tailing group 2010
  10. 10. Customer behaviour is changing…retailers mustadapt and invest fast
  11. 11. Increasing interactivity• Consumers are less and less constrained by bandwidth• 4G mobile will increase the desire for rich, interactive experiences on mobile devices• Static, flat informational online stores will lose out to dynamic content
  12. 12. Mobile Commerce is today a necessity…2012Consumers will expect mobile capabilitiesto equal online2013Wireless will be central toonline commerce Engagement Loyalty Payment
  13. 13. …and will drive convergence into the storeUtilise precise Geofences to monitor shoppers andconsumer behavioursUse time and location sensitive messages to drive storetrafficDeliver specific promotions based on entry, check-in andexitUse in-store actions to generate analytics to a deeper level
  14. 14. Social Commerce, a new consumer experience• 90% of consumers trust recommendations from people they know (econsultancy)• 67% of consumers spend more online after getting advice from their online community of friends (internet retailer)