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Oap Oap Presentation Transcript

  • Stanford University / Venture Lab / Technology Entrepreneurship / Class of 2012Opportunity Analysis Project InnoShop Optimisation of shopping activities
  • Concept Prevalent shopping trolleys and shopping tills are inconvenient for customers. Supermarkets do not utilise potential capabilities of currently available innovative products whose synergy would bring benefits to sellers and buyers alike. Our team is analysing reasons for this problem and constructing a system which supermarkets would be willing to use. We offer shopping optimisation system, currently consisting of innovative shopping trolleys with integrated bar code scanners, and additional services enabling stores to employ those trolleys optimally. Trolleys and supplemental articles can be sold and rented.
  • Understanding German market size Distribution of the number of stores is seen in the below pie chart A total of 23369 stores REWE group has the were most potential to be found which were either exploited super/hypermarkets for our business
  • German market Estimated Store current market (in USD) EDEKA 12300000 LIDL 9900000 PLUS GROUP 8520000 REWE GROUP 26817000 ALDI 12570000~70M$ is the currentmarket for the shopping TOTAL 70107000carts in Germany
  • Understanding the German Cart Market The base for the calculation in the previous slides is as follows:  The cost of each shopping cart is averaged to be 50 USD based on www.alibaba.com  The average number of carts in stores is taken around 60 according to our observation in Hamburg, Berlin and Frankfurt The overall estimate of the Market that our Idea can potentially
  • Survey with managers What differentiates your brand from the rest?  1 manager: Supply chain management  1 manager: Staff management  1 manager: Store organisation  2 managers: leadership in discount products “We as a brand strive to be market leaders in supply chain and currently have one of the best supply chain management models across the industry.” Brand Manager in Frankfurt area, 2012
  • Survey with managers Are you currently interested in finding new ways to distinguish your brand? 4 Managers: yes 1 Manager : Currently no “Results of the last financial year are not so encouraging for us to invest in this technology right now…” Marketing In-charge in Hamburg area, 2012
  • Survey with managers Would you be interested in implementing pilot project with us? a. 3 managers: yes b. 2 managers: no, our current system is satisfactory “We focus mainly on attracting selective target customers and have various schemes to achieve it, hence I would tell you that we value innovation, especially in technology that would help us in brand building and thereby act as key market differentiator ” Marketing In-charge in Berlin area, 2012
  • Survey with 20 end users in Germany
  • “I do not like standing in long queues. They are especially time-wasting during peak time after I finish work, and need to goshopping. Therefore I am going to use any checkout system if it willsave time for me.”Male student in Berlin area, 2012“If I need to buy only 1 or 2 things fast, and see a lot of peoplequeuing, then I sometimes put things back and go out.”Female pensioner in Hamburg area, 2012“I shop at department store one time in a week, so I buy a lot ofstuff at once. I could put small and fragile items safely andconveniently into different compartments of the cart, if only suchthing existed.”Female student in Berlin area, 2012
  • Open questions for end users (20 participants): What is one most annoying thing about shopping in this department store?  15 participants: Long queues / long waiting time to be served  3 participants: Obstructions to free moving (other carts on the way, too narrow crossings at certain areas)  2 participants: No opinion / no annoyance What do you think about the trolley you are currently using?  11 participants stated moderate dissatisfaction  4 participants: high dissatisfaction  2 participants could not tell whether they like current trolley or not  3 participants liked the cart “I don’t like shopping at all. I mostly hate to stand waiting for a long time in a queue. Shopping trolleys look like they are designed only to be conveniently separated from each other, but not used for convenient shopping.” Employed male in Hamburg area, 2012
  • Open questions for end users (20 participants): What main changes would be most preferred by you in the store or the cart (one participant can give more than one suggestion)?  13 participants: Reduce waiting time / reduce queues / install more service points  7 participants: Improve manoeuvrability of the trolley (by reducing width / length of the cart, improving wheels)  7 participants: Lighter weight of the shopping cart  5 participants: Improve wheels for better manoeuvrability  5 participants: Have a shopping list fixing system (use a clip (similar to laundry clip) / use a mini post board and pin attached)  4 participants: Have a mobile phone fixing system on the shopping cart “I don’t like shopping at all. I mostly hate to stand waiting for a long time in a queue. Shopping trolleys look like they are designed only to be conveniently separated from each other, but not used for convenient shopping.” Employed male in Hamburg area, 2012
  • Customer survey link The customers surveyed could opt any number of changes. 20 customers participated in the survey and this gave us some outlook on how customers could influence the stores to think on improving the existing system of the cart based on customer demandIf this technology would have impact on less waiting timeproblem of customer certainly there would be a hugeopportunity and with estimated market of our product wecould built a high demand solution to the problem.
  • Pitching the cost of our product Well this needs some caution as the existing system of carts costs 50$, we would need to have a price near to it for conventional competitive strategy or follow blue ocean strategy through innovation. The market space is uncontested as we would be the first to implement an integration of such a concept. In this scenario the competition becomes quite irrelevant and only market differentiator product which is low cost as well. This innovative shopping solution would give the first company that adopts it a brand image and huge leverage that the later entrants would not be as benefitted. This is well supported by the survey results though sample was small, we believe that that’s the normal tendency of a consumer. This would create and capture new demand in the market.