Next Generation Retail | ThoughtWorks Executive Lunch

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For retailers, the true test of endurance is just now beginning. Traditional strategies for building loyalty and driving sales are becoming obsolete. Time is of the essence. In a race to get customers' attention, retailers need to deliver new ideas to customers within weeks, not years.

In this presentation Robin Copland from ThoughtWorks Americas discusses the imperative for organisational change, Next Generation Retail Architecture and techniques for driving innovation faster. The shares insights from working with global retailers including Gap Inc. and Natural Markets Food Group who have been changing the game in retail.

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Next Generation Retail | ThoughtWorks Executive Lunch

  1. 1. NEXTGENERATIONRETAIL Embracing the Digital Future Vue De Monde, Melbourne | Tuesday 18th March 2014
  2. 2. •  Maintaining relevancy •  Rapid change in customer behavior •  Sustaining differentiation and building loyalty •  Technology is changing fast TODAY’S CHALLENGES
  3. 3. ARE YOU DISRUPTING… OR BEING DISRUPTED?
  4. 4. 0 TO 100 MILLION REGISTERED LISTENERS IN 6 YEARS AND FROM 100 TO 200 MILLION IN LESS THAN 2 YEARS THE NEXT WAVE OF INNOVATION IS ALREADY HAPPENING
  5. 5. THE PERFECT STORM •  Economy is sluggish •  Dollar is high •  U.S. + European markets are saturated •  Little outside competition historically •  Geography is no longer a barrier So what does this mean for you?
  6. 6. Homewares Giant Williams-Sonoma Joins Rush To Australian Retail US homewares giant Williams-Sonoma, owner of Pottery Barn, Pottery Barn Kids and West Elm, has unveiled ambitious growth plans in Australia where it will open eight stores this year, staking its claim to an estimated $735 million sales pool being carved up by foreign fashion retailers. March 17, 2014 It joins overseas department stores H&M, Marks & Spencer and Uniqlo and fashion chains such as Zara, Topshop and Hollister which combined are slated to open more than 100 stores across Australia in the next two years.
  7. 7. People • Think differently about organizational alignment • Digital Strategy is Business Strategy • Foster a culture of risk-taking CREATING A RESPONSIVE ENTERPRISE Process • Omni-channel is dead • Point of Service not Point of Sale • Experience + Service Design Technology • Enterprise systems won’t get you there • Next Generation Retail Architecture
  8. 8. American Eagle May Shine Brightest In “Post-Apocalyptic Future Of Teen Retail,” Analysts Say Investment bank Jefferies sent clients a note Friday titled “Teenage Wasteland: Assessing the Post-Apocalyptic Future of Teen Retail.” According to its survey of more than 1,000 teens, American Eagle has more “brand relevance” than rivals Aeropostale and Abercrombie & Fitch. American Eagle is “further along the curve” than Aeropostale and Abercrombie in areas like e-commerce, inventory management and social media, which will make it easier for the brand to recover from what’s been a tough year, according to Jefferies.
  9. 9. Walmart’s Fiscal 2014 Global Ecommerce Sales Top $10 Billion Wall Street wasn’t wowed when Walmart announced its Consolidated net sales for fiscal year 2014 grew just 1.6% year-over-year. But the retailer was able to hang its hat on It’s global ecommerce sales, which CEO Doug McMillon said grew 30% and surpassed $10 billion. “We also see an environment to create transformative growth in global ecommerce and mobile commerce,” McMillon said. “Our ability to combine online and mobile with [our] assets positions us to win at the intersection of physical and digital retail, which is a competitive advantage.”
  10. 10. What is your strategy for innovation?
  11. 11. building the future of commerce
  12. 12. The Velocity Lab
  13. 13. Starts internal Innovation Lab
  14. 14. acquires BlackLocus and starts Innovation Lab
  15. 15. partners with Co.Labs to inspire innovation
  16. 16. Disruptive Thinking For People With Ambitious Missions & Empowering Technology
  17. 17. “This is a brand new platform. We want this to be that which everybody else is judged. Someday Whole Foods will say “I wanted one of those.” Transforming the Supermarket Experience “The old systems that are available today are built on 30 years of legacy.”
  18. 18. “ThoughtWorks is helping us to re-imagine the customer experience in a high-touch, curated environment, through the use of technology. I am astonished that in 8 weeks we had a functioning product adding value to our business…” Co-President, Mitchells Family of Stores
  19. 19. N E X T G E N E R A T I O N RETAIL ARCHITECTURE
  20. 20. A retail solution should not be a big box!
  21. 21. …it should be a combination of discrete capabilities…
  22. 22. Bespoke solutions that are differentiators and offer a business advantage. Commodity solutions that add value, but don’t differentiate. Flexibility Scalability Availability Extensibility …that leverages the right solutions…
  23. 23. …to build a platform for innovation and evolution. Replaceability
  24. 24. …to build a platform for innovation and evolution. Replaceability
  25. 25. …to build a platform for innovation and evolution. Replaceability
  26. 26. START NOW. MOVE FAST. THINK BIG.

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