ReTailor Business Plan “ Until the consumer buys a product, no one in the chain has sold anything.”
Introduction
Our focus will be on creating a Solution that will provide Retail Businesses with – a Single and ‘Holistic’ view of the Consumer.
‘Convergence’ of data from multiple sources will give the business access to valuable Meta Data that will be leveraged to offer customized solutions to the individual consumer.
“ Synchronicity occurs when the consumer business world is linked together by technology making each of the moving parts, consumers, suppliers, taste makers, associates, and Financiers synchronous with the whole.” – Deloitte Research
The New Operating Model for the customer-centric retailers will be knowledge driven.
“ Only 15% of Best in Class and 7% of Industry Average retail respondents take the opportunity to review BI-related information in real- or near-real-time.” – Aberdeen Research
Vision Focus on influencing all aspects of the Consumer Decision Making Process.
Key Context - The Mind Map Convergence of the Consumer Viewed as a Single Entity across the Retail Value Chain in order to maximize Consumer Experience.
Business Case
Value Proposition Problems cannot be solved at the same level of awareness that created them. – Albert Einstein Consumer Analytics Visibility into Demand Based Supply Chain Management Improve revenue Lower cost The Customer Analytics for Retailers Business Process Re-Engineering Contextualized Consumer Experience Cross Selling from a ‘ Single-Consumer’ Visibility across locations
Design for Consumer Experience
Consumer Visibility
Contextualization of Consumer Behavior Research.
Consumer Intelligence
Consumer-Experience Technology Solutions.
Promotions Management Manufacturers spend between 15 and 20% of their revenues on trade funds to increase product sales. With store level visibility manufactures can track timely movement of displays onto the sales floor and monitor replenishment of display stock.
Solution Framework Business Analytics Information Integration (Stores Level) Information Integration (Businesses Level) Consumer Intelligence (Contextualized Information) Consumer Visibility (Contextualized Analytics) The Integrated Enterprise
“ Until the consumer buys a product, no one in the chain has sold anything.”
Service Solutions Manufacturer Retailer Consumer Intelligence Consumer Intelligence Insights Purchasing Behavior and Likes/dislikes Custom Tailored Products Custom Marketing/Promotion Campaigns Contextualized Intelligence Services One way to tell whether a company is truly customer-centric is to look at its metrics. Is the retailer measuring sales per store or product line? How many measure sales per customer? - ‘Everyone is a Retailer’, Deloitte Research
Potential Customer Segments
Retail Stores
e-Tailers
Infrastructure and Mall Establishments
Retail Banking and Financial Institutions
Consumer Goods Manufacturers
Product Design Firms
Tourism and Hospitality Sectors
Government Institutions
“ Expensive solutions to all kinds of problems are often signs of mediocrity.” - Ingvar Kamprad, Founder of Ikea
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