Retail trends

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  • Retail trends

    1. 1. The Future of Retail Trends
    2. 2. THE MARKET TODAY The Landscape The Consumers
    3. 3. Big box retailers feeling the heat from e-commerce giants like Amazon
    4. 4. ‘Showrooming’ is the new reality
    5. 5. A new breed of digital-savvy shoppers has emerged
    6. 6. Traditional retail must adopt a multi-channel life to survive I care about convenience and value – at every touchpoint
    7. 7. The Digital Savvy Shopper• Takes advantage of technology• Offers personal data for a better experience• Expects contextually relevant offers• Wants to have a say & be rewarded for their knowledge• Floats seamlessly across mobile, online and real-world platforms in their path to purchase
    8. 8. THE STATS The Facts The Implications
    9. 9. 3 in 4 prefer retailers that 61% would trade increased use personal privacy for personally information to relevant offersimprove the shopping experience
    10. 10. 73%want “relevant” ads on 65% like to receive offers their mobile device on their phones based on past purchases while in-store
    11. 11. 35% 65% delay a purchase/buyhave bought online & picked up in-store elsewhere if they find a lower price by using their phone in-store
    12. 12. 15% 75% Would wait 5 days if decline in shoppersatisfaction at retail shipping were free stores, per year
    13. 13. 75% more inclined to 93% more inclined to purchase from a purchase from acompany that uses company that uses mobile apps social media
    14. 14. 40%of Millennials want to 74% of Millennials think influence brand they influence products purchase decisions of peers & other generations
    15. 15. 63%of Millennials typically 75% of Millennials want shop with family or brands to provide life friends as a social experiences activity
    16. 16. Implications for Retail Brands:1. Create personalized shopping experiences by trading privacy for relevancy.2. Release control of your brand. It belongs to your customers – be agile & collaborative.3. Focus on how your brand enables life experiences, not stuff.4. Provide value & ease at every touchpoint: – online, mobile, social & brick & mortar stores
    17. 17. TRENDS Retail TodayRetail Tomorrow
    18. 18. TODAY TOMORROW Reactive PredictiveSearch results Personalized resultsBricks & clicks Commerce everywhere
    19. 19. Learn from the data I share with you when I shop
    20. 20. Know me when I‟m not in your store
    21. 21. Know me when I walk into your store
    22. 22. Give me personalized service & recommendations in-store
    23. 23. Give me personalized service & recommendations everywhere
    24. 24. Make it easy for me to buy – anytime
    25. 25. Make it easy for me to buy – anywhere
    26. 26. Make it easy for me to buy – any way
    27. 27. TODAY TOMORROW Periodic Always On Smartphones “Smart” everythingRetail by channel Retail by experiences
    28. 28. Serve me “relevant” offers all of the time
    29. 29. Use technology to augment my shopping experience in-store
    30. 30. But also use technology to augment my experience out-of-the-store
    31. 31. Let me do fun things in-store, not just buy
    32. 32. Offer me something worth-while in-store
    33. 33. TODAY TOMORROWRetail names the price Shoppers name the price Brand as experts Consumer as experts Browse Retailers Be Retailers
    34. 34. Let me have a say on the deal I want
    35. 35. Let me help design your products
    36. 36. Let me sell on your behalf
    37. 37. Let me create my own store for you
    38. 38. Then reward me for my support
    39. 39. And support my ideas
    40. 40. THE MARKETTOMORROW Questions Implications
    41. 41. What happens to retail when our phone, wallet, refrigerator, and car are all connected?
    42. 42. What happens to consumer‟s decision journey whenbrands can be predictive and personalized with every message?
    43. 43. What happens to brick & mortar when consumers can sell, design, & own for you?
    44. 44. Implications for us?• Who are our most loyal and enthusiastic consumers we can ask to participate & sell for our brands?• What value-added experiences can we create in physical stores to mitigate the effects of „showrooming‟?• When can we leverage mobile to drive in-store & amplify relevant offers?• Where can we harness social & shopping data to provide better, more personalized service to consumers?• How do we construct seamless shopping experiences that promote discovery in-store and continue the sales process at home or on-the-go?

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