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  • 1. MyBuys & the e-tailing group Present:Closing the Cross-Channel Gap Dial In: 805-309-0020 Access Code: 583-074-897 Webinar ID: 127-449-602 June 28, 2011 1
  • 2. Today’s Featured PresentersLAUREN FREEDMAN SHAUN SCHOOLEY President Vice President, Client SuccessThe e-tailing group, inc. MyBuys 2
  • 3. Housekeeping• How to get “Closing The Cross Channel Gap” White Paper with findings from the 4th Annual MyBuys/e-tailing group Consumer Insights Survey:  All attendees will receive via email the week of July 4  Available to download on the MyBuys website• This Webinar will be recorded and available for viewing on later this week• Type questions in the right hand control bar for a Q&A session at the end of the webinar 3
  • 4. About MyBuys• Founded in 2006; HQ in Silicon Valley• Cross-Channel Personalization for Retailers• Widely regarded as an industry leader• Experienced, client centric team ofinnovators• 300+ Clients• #1 Personalization Provider for IR Top 500• Top Brands in Every Vertical• Clients range from $2 MM - $6 Billion 4
  • 5. About Lauren Freedman• President of the e-tailing group• 15 years e-commerce consulting• Fortune 500 client projects ranging from strategic planning, customer experience with an emphasis on merchandising to technology marketing and lead generation• Extensive cross-category expertise with merchants B2C and B2B• Proprietary research studies on mystery shopping, merchandising and consumer behavior• Author, It’s Just Shopping• 50+ years traditional retail and catalog experience• The Voice of Cross-Channel Merchandising Straight talk right from “the-trenches” of online merchandising• 5
  • 6. Today’s AgendaI. e-tailing group/MyBuys Cross-Channel Gap Analysis SurveyII. 10th Annual Merchant Survey Cross-Channel ResultsIII. The Ideal and Current Cross-Channel Shopping Experiences - 5 Key Demands 1. Convenience 2. Consistency 3. Customer Service 4. Personalization 5. Mobile and Social IV. Best practices to start closing the gap today V. How To Address Cross-Channel Today VI. Q & A 6
  • 8. Methodology & Demographics• Online survey completed by 1,023 adults in April 2011 – 50% female / 50% male – Shopped online for products 4 or more times in the past year – Spend at least $500 online annually – Make shopping purchases both online and in stores 8
  • 9. Survey Objectives• To understand what the customers’ ideal cross- channel shopping experience would be by valuing the importance of 25 key aspects and subsequently learning how consumers’ real retail experiences stack up against these expectations• Trending personalization of shopping experiences year- over-year including the what and where of such strategies• Understanding mobile purchasing patterns to date 9
  • 10. The Cross-Channel Shopping ExperienceIDEAL: “Please take a moment to think about the many elements that go intomaking up your ideal shopping experience across a retailer’s various channels(online, store, catalog, mobile, call center). Read each of the followingstatements and identify how important or essential you believe they are foryour ideal shopping experience with all of the retailers where you like toshop.”CURRENT: “Now, please think about your shopping over the past year noting theexperiences you actually received from retailers within or across all of theirshopping channels (store, online, catalog, call center, mobile). Please read eachstatement and identify the frequency that such a behavior occurred for shoppingexperiences throughout the year.” 10
  • 11. Consistency, Convenience, Service & Personalization Are Most Important IDEAL AND CURRENT TOP-2 / % Ideal over Current IDEAL CURRENT GAP (VERY-SOMEWHAT IMPORTANT/ALL THE TIME-FREQUENTLY) Top-2 Top-2 I expect a consistent and convenient shopping experience from a m erchant’s Consistency 85% 50% 41% w ebsite to any of their stores (physical, m obile) w here I shop Convenience A com bination of in-store and online experiences best suits m y shopping needs 84% 67% 20% I expect to find accessible (friendly, know ledgeable, available) sales and service Service w hen I visit retail stores and easy to find “help/contact info” w hen I shop one’s 84% 42% 50% w ebsite or m obile store Marketing collateral (in-store prom otions, catalogs, seasonal selling) should be Consistency consistently presented from the w eb to the store or m obile to reinforce m y 72% 39% 46% perception of the brand I expect to be able to look up product availability at stores locally before m aking a Convenience 72% 44% 39% visit to the store Stores w here I am part of a loyalty program should deliver m e a m ore Personalization personalized shopping experience than those w here I don’t participate in their 66% 33% 50% program s Convenience I prefer to shop online but I like to return product to m y local store 63% 30% 52% The retailers w here I shop should offer prom otions and m erchandising tailored Personalization 50% 28% 44% to m y past purchasing and brow sing behavior I w ould buy m ore from retailers w ho personalize the shopping experience Personalization 46% 27% 41% across all of their channels (store, w ebsite, catalog, m obile, call center) I use online retail locators from w ebsites and m y m obile phone to help m e find Convenience 41% 36% 12% convenient stores and to check out upcom ing prom otions and events I expect to be able to purchase via m y m obile phone w ith a shopping experience Mobile and Social 26% 13% 50% that renders w ell for that deviceQ7 11
  • 12. Shoppers Want ConsistencyWhen Shopping with a Retailer: IDEAL CURRENT GAP• Expect the shopping experience to 85% 50% 35% be consistent• Expect to see personalized 72% 39% 43% merchandising from web to mobile to email as a member of a loyalty program 12
  • 13. Shoppers Want ConvenienceFor Cross-Channel Experiences: IDEAL CURRENT GAP• Able to shop at my retailer’s; both 84% 67% 17% in-store and online• Prefer to shop online but return product to my local store 63% 30% 33% 13
  • 14. Shoppers Want PersonalizationFor Retailers Where I Shop: IDEAL CURRENT GAP• Expect a more personalized 66% 33% 33% shopping experience• Desire offers, promotions & merchandising tailored to my past 50% 28% 22% browsing & purchasing• Would buy more if they personalized 46% 26% 20% the experience across all of their channels 14
  • 15. Shoppers Want Customer ServiceWhen I visit retail stores: IDEAL CURRENT GAP• I expect to find accessible sales and service when I visit retail stores and easy to find 84% 42% 42% “help/contact info” when I shop one’s website or mobile store• Service Sales associate/service training and knowledge of products they sell should be 80% 32% 48% consistent from store to web to call center to mobile• Service Call centers should be equipped with my full customer profile in order to best 54% 28% 26% service my needs 15
  • 16. Shoppers Want Mobile & SocialFrom My Favorite Retailers: EXPECTED TODAY GAP• Expect to shop and quickly find 26% 14% 12% products right for me via my mobile device• Expect shopping experience to be optimized on my mobile device 26% 13% 13%• Want to shop from my favorite Retailers on Facebook 15% 8% 7% 16
  • 17. What Shoppers Want• A combination of online and in-store experiences that are consistent and convenient• Consistency from sales associate/CSR product knowledge to the presentation of marketing collateral• Helpful and friendly customer service integrated within seamless shopping• Access to inventory online and in-store along with the ability to send product from another store as desired• Personalization, particularly leveraging loyalty programs followed by promotions and merchandising tailored to past purchasing 17
  • 18. The Best Cross-Channel Merchants Are… Describe your best shopping experience (including store name) that involves acombination of web and retail store, web and mobile or retail store and mobile sharing why it worked so well for you. Top 10 merchants for delivery of best cross-channel shopping experience out of 120 merchants named in open-ended question Best Buy 12% Amazon 10% Wal-Mart 9% Target 4% Kohls 4% JCPenney 4% Lands End 4% Sears 3% Lowes 3% Staples 3% 18
  • 19. II. The 10th Annual e-tailing group Merchant Survey• Diligent Investing + Solid Execution = Evolved Selling 19
  • 20. Profile of Surveyed MerchantsMerchants of all sizes (annual sales) 32 categories of products and services33% $<$1M to $20M 40% Apparel/Accessories/Shoes/Luggage/Jewelry20% $20M to $100M 25% Home & Garden/Home Improvement/30% $100M to $1B Tools/Appliances/Furniture/Organization17% $1B to $5B> 15% Sporting Goods/Outdoor Gear 11% Business to Business (B2B) 10% Consumer ElectronicsSenior level participation 10% Food & Beverages43% CEO/President/Principal or VP/ 10% Toys/Kids General Manager 9% Health & Beauty/Seniors45% Director, Senior Manager or Manager 8% Books/Music/Video12% Analyst, Specialist, Assistant or Other 8% Computer Hardware/Software/Peripherals 7% Arts & Crafts/Hobbies/Party 7% Gifting/Greeting Cards/Food & WineSelling through a mix of channels 7% Office Supplies/Office Furniture98% Internet 6% Entertainment78% Email 4% Business Services52% Store 4% Collectibles44% Catalog 4% Digital/Virtual Merchandise36% Mobile 4% Educational30% Social 4% Pets7% TV 4% Travel 20
  • 21. To meet customer demand, merchants are selling through a mix of channels Through which of the following channels are you currently selling? Check all that apply. 98% 78% 52% 44% 36% 30% 7% Internet Email Store Catalog Mobile Social TV (website) 21
  • 22. Where Your Current Cross-Channel Experience Ranks On a scale of 1-10 w ith 10 a seam less shopping experience (channels are w ell integrated for shoppers) and 1 a siloed scenario (channels are operated independently) w here does your current Merchants rank their cross-channel experience rank? ranking % of responses current cross-channel 1 11% 2 6% experiences at 5.4 (out 3 10% 4 8% of a possible 10) 5 19%for delivery of seamless 6 7 10% 14% shopping 8 9 12% 4% 10 6% AVERAGE RESPONSE = 5.4 22
  • 23. What Your Cross-Channel Plans Looks Like 10% of merchants already have a seamless shopping experience in place and 46% plan to deliver one by next year What is your time frame for delivering a seamless shopping experience (channels are well integrated for shoppers) across sales channels (Internet/website, email, mobile, store, catalog, TV, social)? Already have seamless shopping experience in place 10% This year 20% Next year 26% Not currently planned 22% Will always remain separate or siloed 6% Don’t know 16% 23
  • 24. Consistent branding (74%), inventory (60%), andpromotions (60%) are key to cross-channel initiatives Rate your level of agreement with each of the following statements relative to your company’s current integration of cross-channel initiatives. (Strongly to somewhat agree charted-top 2) Branding is consistently deployed accross channels 74% Inventory is shared and similar across channels 60% Promotions are consistently marketed accross channels 60% Marketing and advertising programs are led by one team 59% IT directives are headed by one individual across the organization 59% Management has a strategic cross-channel lens 55%Merchandising is a singularly focused initiative that sets direction for the entire company 45% Benchmark and KPIs are in place to measure cross-channel influencers and performance 43% Cross-channel compensation structures are in place 37% 24
  • 25. III. Five Key Demands 25
  • 26. Consistency: Pricing “I enjoy shopping Best Buy; they always have thesame prices running, tell me if store pick up is available and whichstore, and when they do deliver it is prompt and in excellent packing (product never damaged).” 26
  • 27. Consistency: Shared Profile Information “Apple store -- seamless integration between web,phone and store. Information is shared between all locations so profile is consistent.” 27
  • 28. Opportunities: Consistency• Consistent and cross-channel convenient shopping experiences must be non-negotiable• Evaluate consistency of pricing across channels and at minimum put polices in place to address customer concerns• When deploying new features and functionality, ask yourself, “does this make shopping more convenient?”• Evaluate all marketing collateral and establish consistency of presentation across channels 28
  • 29. Convenience: Access To Inventory Across Channels “REI - easy to find products on website, easy to check if those products are available in a nearby store, can have items shipped to store for free.” 29
  • 30. Convenience: Immediate Availability “Wanted a book, found it online (on my phone) at a local Barnes & Noble,ordered, paid on my phoneand picked it up 20 minuteslater at the store closest to where I was.” 30
  • 31. Opportunities: Convenience• Employ cross-channel initiatives that support your brand• Deploy POS and storewide systems that allow for an enterprise view of inventory and be in a position to send merchandise to customers in line with current online shipping policies• Store returns are a must in the consumers’ mind and should be seamlessly serviced at retail• Store pickup should be evaluated particularly as mobile assumes a greater role in buying behavior• Retail locators should be robust and tailored by channel 31
  • 32. Customer Service: Best-in-class Execution “Nordstrom’s in-person customer service is top notch-after searching online for products, their staff was knowledgeable and willing to go the extra step to assure a quality experience & customer satisfaction every time.” 32
  • 33. Customer Service: Share the Love“While shopping for exhaustvents Lowe’s online allowed meto purchase and ship to store atno additional cost. Reps at thestore called when product wasin the store and really availablewhen I arrived to pick up. Infact they remembered talkingto me on the phone and makethe whole pick up easy andenjoyable.” 33
  • 34. Opportunities: Customer Service• Sales associates should be skilled in both product and service aspects of the business while always being responsive to shopper needs• Establish a true culture of customer service and monitor performance against a set of pre-established goals• Customer profiles need to be accessible across channels and utilized to personalize and best serve the customer• Onsite web customer service should be revisited to ensure it is self service, comprehensive, and available for all customers 34
  • 35. Personalization: Timely Recommendations “I was looking for the right storage unit for my son before he went to college. There is so much out there but Container Store made it easy to find the right one for him. They recommended just the right solution at just the right time to get us to buy.” 35
  • 36. Personalization: Email + Loyalty Tie-ins “I enjoy a nice glass of winefrom time to time. I didn’tknow much about how tohave it right till I found WineEnthusiast. They recommendthe best stuff to make mywine taste that much better,drawing me back to buy timeand again.” 36
  • 37. Opportunities: Personalization• Take advantage of PPR defining strategically what and where they can be deployed onsite and via email• Ensure your customer database has a 360-degree view of the customer accessible in all channels• Loyalty Programs serve as excellent retention tools, providing invaluable data that should be evaluated for “fit” with your business• Explore retargeting and cart abandonment programs to secure incremental revenue streams 37
  • 38. Mobile & Social: Everywhere, Anywhere Access “I’m a huge fan of babyphat and love how easy it is to connect with the brand. If I’m on my computer I can shop on their site or on Facebook and share it with my friends. If I’m on the go, I get their emails and they have a great site for my phone. They even give recommendations on the homepage just for me.” 38
  • 39. Mobile: Coupon Convenience“Steve Madden offerscoupons on your cellphone, so you don’thave to remember tobring them with you.” 39
  • 40. Opportunities: Mobile & Social• Ready your mobile strategy starting with mcommerce while weighing apps and their appropriateness for your business• Survey your customers to understand their mobile needs• Elevate existing mobile experience to ensure it renders right for all devices and usability is aligned with consumer shopping goals• Utilize mobile channels to deploy promotions• Test Facebook strategies to learn how your shoppers will buy across social networks• Leverage mobile and social learning as the technology evolves in the near-term 40
  • 41. Closing the Gap• Service gaps should be closed where training, tools and a cultural vision are put in place• Investing in systems should be top-of-mind to accommodate enterprise-wide inventory access• 360-degree view of the customer will fuel selling and close experiential gaps• Cross-channel vision should be defined where conveniences such as store returns are hassle-free• Personalization tactics should be deployed for more relevant experiences across the board move beyond recommendations 41
  • 42. IV. Best Practices To Close The Gap Today 42
  • 43. Why MyBuys Commissioned This Thought Leadership • Continual pulse on the consumer • Gathering historical perspective and monitoring trends • Validating our vision for personalized merchandising • Confirming consumer interest in personalized merchandising across all channels • Incorporating feedback into best practices and merchant outreach 43
  • 44. Consistency Starts at the Consumer 44
  • 45. How I Learned to Stop Worrying About Multi-Channel Interactions 45
  • 46. Most Retailers Organized Around Channels 46
  • 47. You Can Do It Yourself“in just 3 short years, we’ll have….” “….and it’ll only cost $100Million!” 47
  • 48. Or, You Could Start with a Blank White Board… 48
  • 49. Start Capturing Insights from the First Click 49
  • 50. Derive Insights Based on Their Actions Strength of affinity Explicit preferences Recency Purchased Abandoned … Much more… 50
  • 51. Capture Profile Across Channels 51
  • 52. Maniacal Cross-Channel Consistency Catalog Website Email 52
  • 53. They Search and Evaluate Decanters 53
  • 54. Intended to Buy, But Abandon Site 54
  • 55. Retarget Them With a Personalized Display Ad 55
  • 56. And Stay Engaged With Relevant Interactions 56
  • 57. Personalized Direct Mail 57
  • 58. Personalized Mobile 58
  • 59. Cross-Channel Personalization Leadership Apparel Footwear Home Health & Beauty
  • 60. CONTACT INFO & Q & A Lauren Freedman Shaun Schooleythe e-tailing group MyBuys1444 W. Altgeld St One Lagoon Drive #120 Chicago, IL 60614 Redwood City, CA 94065 773-975-7280 650-232-2900 60