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Brave New World of Retail

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At the 2011 iMedia Breakthrough Summit, Wade Allen, VP of Retail at Rockfish and Devora Rogers, Director of Product Strategy at IPG Lab, delivered this presentation on the "Brave New ...

At the 2011 iMedia Breakthrough Summit, Wade Allen, VP of Retail at Rockfish and Devora Rogers, Director of Product Strategy at IPG Lab, delivered this presentation on the "Brave New

Despite rapid advances in information technology, social connectivity, and digital communications, the retail shopping experience has evolved little for the past fifty years. But today, converging macro trends in pricing, technology and mobile are poised to radically reinvent shopping. Meanwhile, new insights into shopper behavior enables brands and retailers to influence purchase in powerful ways. Retail as we know it, will never be the same.

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Brave New World of Retail Presentation Transcript

The Brave New World of Retail

Wade Allen

Vice President of Retail at Rockfish

Devora Rogers

Director of Product, Retail IPG Media Lab and Shopper Sciences

Retail Evolution Supplier power Distribution Retailer power Negotiation Shopper power Information Shopping transformation Retail 1.0 Retail 2.0 Retail 3.0

Are we giving shoppers what they want?

Will technology help?

Can Evolution of Retail Tech Ease Shopper Barriers? Number reporting the barriers Across all categories, shoppers get stuck in the purchase process based on three ‘barrier nodes’ at or above SHS norms Information Confidence Validation

Smart Phone Growth & Shopper Influence

Changing the way we shop

Mobile barcode scanning TRIPLES on Black Friday

Paypal cites 310 % increase in mobile shopping on Black Friday

73% of mobile users prefer to use their smartphones for simple tasks rather than interact with an employee.

Sources: MobileMarketer, Paypal , Accenture

Retail: Now and in the future “ THE FIRST Law of Technology says we invariably overestimate the short-term impact of new technologies while underestimating their longer-term effects.” John Naughton

Interactive Brick and Mortar

Augmenting Retail Reality

Invisible Pop-Up Store Airwalk and GoldRun

Easing Apprehension

Virtual Sampling

Interactive Gestural Experiences

Adding Transparency

Improving Couponing

Group Clout

Centralized Customer Service

Social Persuasion

Purchase Show and Tell

Audience Measurement and emotional response Color selection Trying on lipgloss

The most profound technologies are those that disappear. They weave themselves into the fabric of everyday life until they are indistinguishable from it. -Mark Weiser, 1991 “The Computer for the 21st Century” Scientific American Powerless Printed Coil Technology

Virtual Tour of IPG Media Lab’s Retail Center

THANK YOU

Wade Allen

Devora Rogers