Your SlideShare is downloading. ×
Cip Multichannel Retail Webcast 091112 (2)
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Cip Multichannel Retail Webcast 091112 (2)

197
views

Published on

Multichannel Retail - More than Clicks and Bricks; a webcast that discusses the retail industry and online retail challenges and solutions.

Multichannel Retail - More than Clicks and Bricks; a webcast that discusses the retail industry and online retail challenges and solutions.


0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
197
On Slideshare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Consumer & Industrial Products Practice Webcast: Multichannel Retail – More than Clicks and Bricks October 4, 2012 1:00 pm – 2:30 pm CT If you experience any technical difficulties, please contact 888.228.0988 or support@learnlivetech.com 1© Grant Thornton LLP. All rights reserved.
  • 2. Awarding CPE for this session In general The rule Respond to all polling questions Respond to at least 75% of the polling questions to pass with full credit Group participation will not You have to be logged in individually receive CPE to receive credit If you experience any technical difficulties, please contact 888.228.0988 or support@learnlivetech.com© Grant Thornton LLP. All rights reserved. 2
  • 3. Addressing your questions through Q&A Step 1 Step 2 If you experience any technical difficulties, please contact 888.228.0988 or support@learnlivetech.com© Grant Thornton LLP. All rights reserved. 3
  • 4. Other helpful features you can use If attending from outside a Grant Thornton office, be sure to shut down all other applications to allow more Internet bandwidth. If you experience any technical difficulties, please contact 888.228.0988 or support@learnlivetech.com© Grant Thornton LLP. All rights reserved. 4
  • 5. For best connection results do the following • Use a wired Internet connection from your local office. • Close all other applications for optimal viewing speed including Outlook. – If you must use Outlook during the webcast, use the web-based version available at HTTPS://IEMAIL.GTUS.COM/Exchange • Don’t use VPN if you are outside your local office. If you experience any technical difficulties, please contact 888.228.0988 or support@learnlivetech.com© Grant Thornton LLP. All rights reserved. 5
  • 6. Our values are CLEARR Unite through global Collaboration Demonstrate Leadership in all we do Promote a consistent culture of Excellence Act with Agility Ensure deep Respect for people Take Responsibility for our actions© Grant Thornton LLP. All rights reserved. 6
  • 7. Multichannel Retail Webcast Panel Giles Sutton Lawrence Griff Mark Sullivan National Retail Audit Partner – New National Retail Tax Practice York Practice Leader - Leader – Dallas Chicago Jan Danny Miller Hertzberg Principal – Managing Philadelphia Director – Chicago© Grant Thornton LLP. All rights reserved. 7
  • 8. Objectives •Learn about key trends in the multichannel retail environment •Understand the evolving tax risks in relation to nexus, apportionment, global retailing and third party relationships •Determine the risks and benefits involved with using social media to achieve business objectives •Identify data security and fraud risks; the role of SOC 1, 2, 3 and PCI compliance •Discover best practices that leading retailers are employing© Grant Thornton LLP. All rights reserved. 8
  • 9. Agenda 1. Current multichannel retail trends 2. Tax nexus and related issues 3. Social media and its associated risks 4. Multichannel processes & controls 5. Data security & fraud risks© Grant Thornton LLP. All rights reserved. 9
  • 10. Agenda 1. Current multichannel retail trends 2. Tax nexus and related issues 3. Social media and its associated risks 4. Multichannel processes & controls 5. Data security & fraud risks© Grant Thornton LLP. All rights reserved. 10
  • 11. 1.0 Multichannel Retail Trends Multichannel includes: • Stores • E-Commerce • Mobile • Social Media • Couponing© Grant Thornton LLP. All rights reserved. 11
  • 12. 1.2 Multichannel Retail Trends – e-Commerce Share© Grant Thornton LLP. All rights reserved. 12
  • 13. 1.3 Multichannel Retail Trends – e-Commerce Growth© Grant Thornton LLP. All rights reserved. 13
  • 14. 1.4 Multichannel Retail Trends - Mobile© Grant Thornton LLP. All rights reserved. 14
  • 15. 1.5 Multichannel Retail Trends – “Showrooming”© Grant Thornton LLP. All rights reserved. 15
  • 16. 1.1 Multichannel Retail Trends • Retail websites deepen relationships with customers • Smartphones change the retail experience • Social media is becoming integral to the consumer experience • Internet coupons gain popularity • Multichannel retailing gives rise to more third-party vendor relationships • Internet and mobile does not respect borders© Grant Thornton LLP. All rights reserved. 16
  • 17. Poll 1 Have you updated accounting and inventory systems, processes and have them integrated to handle multichannel retail transactions? A. Yes, completely B. Our systems and processes are updated, but not integrated C. Are systems are integrated, but need to be updated D. Our systems and processes are not updated nor are they integrated© Grant Thornton LLP. All rights reserved. 17
  • 18. Agenda 1. Current multichannel retail trends 2. Tax nexus and related issues 3. Social media and its associated risks 4. Multichannel processes & controls 5. Data security & fraud risks© Grant Thornton LLP. All rights reserved. 18
  • 19. 2.0 Tax Nexus and Related Issues • Nexus Issues • Apportionment • Global Retailing • Digital & Intangible Products© Grant Thornton LLP. All rights reserved. 19
  • 20. 2.1 Remote seller nexus − "Amazon rule" and affiliate nexus Notes: (1) Washington, D.C. has “remote- vendor” collection requirement for Internet sales that is contingent on local SSTP-type reforms being enacted; (2) Penn. is based on administrative authority, legislation has been proposed; (3) Vt. Amazon rule becomes effective when at least 15 states have adopted similar rule© Grant Thornton LLP. All rights reserved. 20
  • 21. 2.2 Apportionment & Global Issues Miami New York Madrid© Grant Thornton LLP. All rights reserved. 21
  • 22. 2.3 Digital & Intangible Products© Grant Thornton LLP. All rights reserved. 22
  • 23. Poll 2 Have you considered the financial impact that state tax law changes will have on your business? A. Yes B. Somewhat C. No© Grant Thornton LLP. All rights reserved. 23
  • 24. Agenda 1. Current multichannel retail trends 2. Tax nexus and related issues 3. Social media and its associated risks 4. Multichannel processes & controls 5. Data security & fraud risks© Grant Thornton LLP. All rights reserved. 24
  • 25. Poll 3 Have you successfully integrated social media into your organizations business plan? A. Yes, we have implemented a social media policy and have been engaging customers B. We are currently working on the best way to leverage social media C. We have not yet integrated social media fully into our business plan, however, it is one of our goals D. Social media isnt something that fits with our business plans© Grant Thornton LLP. All rights reserved. 25
  • 26. Agenda 1. Current multichannel retail trends 2. Tax nexus and related issues 3. Social media and its associated risks 4. Multichannel processes & controls 5. Data security & fraud risks© Grant Thornton LLP. All rights reserved. 26
  • 27. 3.0 Multichannel Process & Control Drivers Opportunities • Increasing online consumer activity and purchases • Mobile customers • Mobile POS • Expanding reach • Changing to a showroom model • Enhancing customer service • Providing educational online content • Gathering market intelligence • Wi-fi in Stores© Grant Thornton LLP. All rights reserved. 27
  • 28. 3.1 Process & Control Challenges & Risks Challenges and risks • Managing interactions and transactions across channels • Adapting performance metrics • Responding to in-store comparison shopping • Data security and fraud risks (next section)© Grant Thornton LLP. All rights reserved. 28
  • 29. 3.7 Third Party Relationships Opportunities Challenges and risks • Tap into third-party • Data security expertise • Service reliability • Speed to market • Impact of third-party • Scalability errors or failures • Potential cost savings • Contractual compliance© Grant Thornton LLP. All rights reserved. 29
  • 30. Poll 4 Do your contracts with third-party vendors clearly stipulate tax responsibility? A. Yes B. Not clearly C. No© Grant Thornton LLP. All rights reserved. 30
  • 31. Agenda 1. Current multichannel retail trends 2. Tax nexus and related issues 3. Social media and its associated risks 4. Multichannel processes & controls 5. Data security & fraud risks© Grant Thornton LLP. All rights reserved. 31
  • 32. 4.0 Data Security & Fraud • Security highlights for retail enterprises • Data security life cycle • PCI in retail© Grant Thornton LLP. All rights reserved. 32
  • 33. 4.1 Security Highlights in Retail • Mobile applications • Social Media • Credit card processing • Cloud computing • In-store wi-fi • Mobile POS • Third parties© Grant Thornton LLP. All rights reserved. 33
  • 34. 4.2 Data Security Lifecycle 1. Creation 6. Destroy 2. Storage 5. Archive 3. Use 4. Share© Grant Thornton LLP. All rights reserved. 34
  • 35. 4.3 PCI Accepting Mobile Payments with a Smartphone or Tablet© Grant Thornton LLP. All rights reserved. 35
  • 36. Poll 5 Are you exclusively using PCI-compliant applications and processes to collect, transmit and store cardholder data? A. Yes B. Not sure if we are 100% PCI-compliant C. No© Grant Thornton LLP. All rights reserved. 36
  • 37. Any questions? Please type your questions or comments into the Q&A© Grant Thornton LLP. All rights reserved. 37
  • 38. Resources that can be accessed at www.GrantThornton.com • Multichannel retail: More than clicks and bricks (white paper) • Gift cards: Opportunities and issues for retailers (white paper) • 6 Steps to Secure Big Data (podcast) • Social media and its associated risks (white paper) • Merchant card and third-party payment network transaction reporting requirements (white paper)© Grant Thornton LLP. All rights reserved. 38