The Next e-Commerce Revolution

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Presentation given at the Rakuten Symposium in London 2014

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The Next e-Commerce Revolution

  1. EMERGING TECH AND THE NEXT E-COMMERCE REVOLUTION
  2. WE HELP BRANDS AND STARTUPS DRIVE REVOLUTIONARY CHANGE
  3. WHAT MAKES ME QUALIFIED TO TALK ABOUT THE FUTURE? 3
  4. “I’M NOT TRYING TO PREDICT THE FUTURE. I’M TRYING TO LET US SEE THE PRESENT.” William Gibson
  5. FOUR BIG TRENDS THAT ADD UP TO THE NEXT E-COMMERCE REVOLUTION
  6. BIG DATA Dressipi.com
  7. THE STARTING POINT FOR MASTERING BIG DATA: MINING ALL YOUR CURRENT DATA SOURCES GETTING IT IN ONE PLACE BEING ABLE TO ANALYSE IT DOING ALL THIS IN REAL TIME
  8. PRESENTATION NAME HERE “THE NEXT FRONTIER FOR INNOVATION, COMPETITION AND PRODUCTIVITY... RETAILERS USING BIG DATA TO ITS FULL POTENTIAL COULD INCREASE THEIR OPERATING MARGIN BY MORE THAN 60%” McKinsey – mckinsey.com/insights/business_technology 8
  9. 9 Personalisation solution that helps customers quickly find the clothes they love and more importantly the ones they’re going to keep. Over 1 million women have created “Fashion Fingerprints” – a data driven fashion profile that enable Dressipi to make brilliant recommendations to them. Over 10 million new data points per month which Dressipi use to make recommendations even better.
  10. RELIES NOT JUST ON DATA, BUT ON THE RIGHT DATA. 10
  11. 11 Knowing whether someone has long legs is useful. Knowing how they feel about that is vital if you’re to avoid showing them mini-skirts when they’d much rather be wearing trousers. BODY SHAPE STYLE COLOUR SIZES BRANDS REVEAL AND CONCEAL FEATURES MEASUREMENTS Ff Bs St Cl Sz Br Rc Ft Ms
  12. USING FASHION FINGERPRINT DATA, DRESSIPI WERE ABLE TO PREDICT THE HIGHEST SELLING AND LOWEST SELLING NEW SEASON DRESSES WITH 90% ACCURACY... 12 BEFORE A SINGLE ITEM WENT ON SALE
  13. IMPLICATION: PEOPLE ARE LOYAL TO THINGS WHICH OFFER THEM UTILITY – AND THERE ARE EMERGING PLAYERS WHICH DO THE UTILITY OF RECOMMENDATION BRILLIANTLY
  14. SMALL DATA Jawbone UP
  15. 15 “IF YOU CAN’T GET TO A TOOL WITHIN TWO SECONDS, YOUR USE OF IT GOES DOWN EXPONENTIALLY.” Thad Starner, Technical Lead Google Glass Source: http://www.wired.com/gadgetlab/2013/12/wearable-computers/2/
  16. HTTP://DEVICES.WOLFRAM.COM
  17. 2013: 22 MILLION WEARABLE CONNECTED DEVICES 2018: 177 MILLION WEARABLE CONNECTED DEVICES Source: Cisco / http://www.cnbc.com/id/101392725
  18. IMPLICATION: WHILE MANY OF US ARE STILL STRUGGLING TO MAKE SENSE OF OUR EXISTING DATA, THE AMOUNT AND TYPE OF DATA AVAILABLE IS ABOUT TO UNDERGO RADICAL CHANGE
  19. 19 “THE DIFFERENTIATOR IN THE MARKET, IS GOING TO BE THE ABILITY OF COMPANIES TO MAKE SENSE OF THE DATA, TO PUT IT IN CONTEXT, AND THEN TO HELP THEIR USERS ACTUALLY ACT ON IT, AND CHANGE THEIR BEHAVIOUR..” Andrew Rosenthal, Health Lead Jawbone
  20. 20 DATA SHOWED THANKSGIVING WAS THE WORST DAY OF THE YEAR FOR TAKING EXERCISE. TEST GROUP ASKED TO COMMIT TO BEING MORE ACTIVE. 24% TOOK THE PLEDGE, AND TOOK AN AVERAGE OF 1,400 MORE STEPS THAT DAY. Source: http://www.slashgear.com/jawbone-talks-context-in-bid-to-rule-wearables-slashgear-interview-06319626/
  21. "WHAT'S EXCITING ABOUT THIS IS THAT IT'S EVIDENCE OF THE ABILITY TO USE PRECISE DATA, TO THE RIGHT PERSON AT THE RIGHT TIME, TO GET THEM TO CHANGE THEIR BEHAVIOUR IN A MEANINGFUL WAY." Andrew Rosenthal, Jawbone
  22. SMALL JUST GOT AGILE Tictail
  23. 23
  24. 24 DO FOR ONLINE RETAIL WHAT TUMBLR DID FOR BLOGGING
  25. 25 40,000 STORES
  26. 26
  27. MAGENTO: STARTS AT £10K/YEAR ADDING EMAIL CAPTURE POPUP: CHANGE REQUEST, THREE DAY TURNAROUND, £1,300 COST 27 TICTAIL: FREE ADD “FOLLOW PLUS” APP IN SECONDS $2/MONTH COST
  28. 28
  29. YOUR OWN PERSONAL E-COMMERCE COACH: AFTER ONE YEAR OF THE TICTAIL FEED IT WAS GENERATING 137,000 PROMPTS EVERY MONTH, WITH A 71% COMPLETION RATE, DRIVING A 500% INCREASE IN TURNOVER. Source: Tictail
  30. IMPLICATION: THE PLATFORM ADVANTAGE OF BIG E-COMMERCE RETAILERS HAS JUST BEEN BLOWN OUT OF THE WATER
  31. THE SEMANTIC WEB State.com
  32. 32 THE SEMANTIC WEB We throw huge technical resources at trying to work out what things are, and what they mean. The semantic web is a vision of the internet where we can find, share and combine information much more easily. It’s been called the Giant Global Graph by Tim Berners-Lee... THE SEMANTIC WEB IS A VISION OF AN INTERNET WHERE WE CAN FIND, SHARE AND UNDERSTAND INFORMATION MUCH MORE EASILY. “THE GIANT GLOBAL GRAPH” Tim Berners-Lee
  33. 33
  34. 34 state.com iPhone app: search for State
  35. 35 POSITIVENEGATIVE 21% LESS LIKELY TO LIKE THE iPHONE 35% MORE LIKELY TO LIKE THE iPHONE Source: State
  36. IMPLICATION: THE ADVANTAGE OF SOME OF THE BIGGEST PLAYERS IN THE INTERNET COULD BE SWEPT AWAY BY THE SEMANTIC WEB
  37. 37 GREAT AT GUESSING WHAT A WEB PAGE IS ABOUT LIKE DATA PROVIDED THE BEST MASS SET OF INTEREST PROFILES FOR TARGETTING
  38. 38 THE SEMANTIC WEB COULD WIPE OUT THESE ADVANTAGES
  39. FOUR GLOBAL TRENDS... AND ONE MORE THAT I’VE SPOTTED
  40. “WE’RE PLANNING TO TAKE ON AMAZON FOR X”
  41. THE TIME IS COMING FOR AN E-COMMERCE REVOLUTION
  42. DOES MY EXISTING BUSINESS HAVE A DEFENSIBLE ADVANTAGE?
  43. “WE’VE GOT DATA ON EXISTING CUSTOMER BASE” “WE’VE GOT A HUGE AMOUNT OF DATA” “WE’VE GOT A SOLID TECHNICAL PLATFORM” “WE’RE REALLY GOOD AT SEARCH” Customers are loyal to those who understand and serve them best Even if you’re using your existing data, the frontier of data collection is changing The arrival of the Sematic Web could totally rewrite where power sits in the online world Anyone new is likely to get a better platform than yours at a fraction of the cost
  44. THE TECHNOLOGIES FOR THE NEXT E-COMMERCE REVOLUTION ARE ALREADY HERE. ARE YOU READY?
  45. IU-HQ.COM FRANK@IU-HQ.COM @FRANKLAMPEN STATE: FRANK

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