Retail Trends 2013
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2013 is just around the corner. MORM/Retailomania has compiled a collection of trends shaping the years to come.

2013 is just around the corner. MORM/Retailomania has compiled a collection of trends shaping the years to come.

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Retail Trends 2013 Presentation Transcript

  • 1. RETAILOMANIARETAIL TRENDS FOR 2013 AND BEYOND
  • 2. RETAILOMANIA ”Prediction  is  very  difficult,   especially  about  the  future”  GLOBALIZATION HAS MADE Niels  Bohr   THE WORLD INTERCONNECTED
  • 3. RETAILOMANIA The  competetive  environment  of  retail,  is   similar  to  a  flock  of  birds.     Every  single  bird  is  affected  by  the  flock,  but   at  the  same  time  the  flock  is  affected  by  the   movement  of  every  single  bird.    GLOBALIZATION HAS MADE THE WORLD INTERCONNECTED
  • 4. RETAILOMANIA SOME  BIRDS  ARE  GAME  CHANGERS.    IN  A  WORLD  WERE  EVERYBODY  THOUGHT  THAT  A  SWANS  WERE  WHITE,  IT  WAS   REVOLUTIONARY  TO  FIND  OUT  THAT  SOME  WERE  NOT.     The  term  black  swan  has  since  Nassim  Nicholas  Taleb  used  this  analogy  in  his  book  ”The  Black  GLOBALIZATION HAS MADE Swan”  been  a  term  to  desbribe  events  that  seem  impossible  to  predict,  but  when  it  enters  the   scene  chages  all  the  rules.  Retrospectively  we  have  a  tendency  to  find  simplistic  explanations  for   THE WORLD theese.       INTERCONNECTED
  • 5. RETAILOMANIAWE  TEND  TO  LOOK  OUT  FOR  THINGS  AND  SIGNS  THAT  FITS  WHAT  WE  ALREADY  KNOW  AND  THEREBY  OVERLOOK  WHAT  ACTUALLY  SHAPES  THE  FUTURE.    WHAT  IS  A  SURPRISE  FOR  THE  TURKEY  IS  NOT  A  SURPRISE  FOR  THE  BUTCHER.    THE  BIG  OOOPS!!!  HAS  BEEN  A  PART  OF  THE  AGENDA  FROM  THE  START.  THE  TURKEY  JUST  DID  NOT  SEE  IT  COMING.    
  • 6. RETAILOMANIA THE  LESSON  FROM  THE  TURKEY  IS  THAT   PREDICTION  IS  ABOUT  PERSPECTIVE.    GLOBALIZATION HAS MADE THE WORLD SO  LETS  GET  SOME  …   INTERCONNECTED
  • 7. 1.  UNREST  IS  HERE  TO  STAY  
  • 8. THE  CAUSES  OF  THE  FINANCIAL  CRISIS,  EURO  CRISIS  AND  THE  TENSIONS  IN  THE  MIDDLE  EAST  HAS  NOT  BEEN  SOLVED  AND  ARE  NOT  LIKELY  TO  BE  SOLVED  IN  THE  NEAR  FUTURE.   ON  THE  CONTRARY  -­‐  WHAT  WE   USES  TO  CALL  CRISIS  JUST  MIGHT   THE  NEW  NORMAL  
  • 9. RETAILOMANIAFINANCIAL  STIMULUS  WILL  NOT  WORK  IF  THE  CAUSES  ARE  NOT  DEALT  WITH…  GLOBALIZATION HAS MADE THE WORLD INTERCONNECTED
  • 10. RETAILOMANIA …AND  ON  A  GLOBAL  SCALE,  WHAT  WE  SEE  AS   SINGLE  EVENTS:  THE  CHINA/TAIWAN/JAPANESE   CLASH  OVER  A  FEW  TINY  ISLANDS,  RUSSIAN   MILITARY  BUILDUP  IN  THE  ARCTIC  AND  THE   IRANIAN/MIDDLE  EAST  TENSION  ARE  ALL  ABOUT   CONTROL  OVER  OIL    AND  ENDING  RESOURCES.   THESE  EVENTS  WILL  CONTUNUE  TO  ARISE  AND   THREATEN  WORLD  PEACE  IN  THE  FORESEABLE   FUTURE.  GLOBALIZATION HAS MADE THE WORLD INTERCONNECTED
  • 11. RETAILOMANIA SURVIVAL  IS  NOT  ABOUT  SURVIVING   THE  NEXT  SEASON.     YOU  MOST  LIKELY  NEED  A  PLAN  FOR   SURVIVAL  FOR  THE  NEXT  DECADE.  THE  ABILITY  TO  ADAPT  PRODUCTS,  COSTS,  BUSINESS  MODELS  AND  JUST  ABOUT  EVERYTHING  ELSE  IS  CRUISAL  TO  SURVIVAL  IN  A  GLOBAL  MARKETPLACE  
  • 12. 2.  GLOBAL  VS  LOCAL  VS  GLOCAL  
  • 13. RETAILOMANIA IN  A  WORLD  OF  UNSAFETY  PEOPLE  WILL  BE  IN  THE  MARKET   FOR  SAFETY   THIS  MEANS  THAT  LOCAL  JUST   MIGHT  BE  THE  NEW  GLOBAL  
  • 14. RETAILOMANIA THE  LAST  25  YEARS  IN  BRIEF  :    THE  BERLIN  WALL  FELL,  CHINA  OPENED  UP,  THE  INTERNET  MADE  PEOPLE  COME   TOGETHER  AND  INTERACT  OVER  CONTINENTS  IN  A  WAY  THAT  WE  HAVE  NEVER   SEEN  
  • 15. RETAILOMANIADURING  THE  90s  RETAIL  WENT  SERIOUSLY  GLOBAL     WAL-­‐MART,  ,  TESCO,  CARREFOUR,  H&M,  ZARA,  IKEA,     HOME  DEPOT  ET  AL  FOUND  NEW  MARKET  ABROAD.     ANYTHING  THAT  WAS  NOT  GLOBAL  WAS  THREATENED  TO  BE   SWALLOWED  BY  THE  GREAT  RETAIL  PREDATORS   EX-­‐COMMUNIST  COUNTRIES  WANTED  ANYTHING  WITH  A   WESTERN  BRAND  ON  IT  AS  A  SIGN  OF  FREEDOM      
  • 16. RETAILOMANIA THIS  ERA  CAME  TO  AN  END  WITH  THE  WAR  ON  TERROR  WERE  THE  BUSH  ADMINISTRATION,  IN  ITS   SEARCH  FOR  THE  TERRORIST  RESPONSIBLE  FOR   THIS,  ALSO  UPSET  A  WORLD  OF  MUSLIM  COUNTRIES,  AND  BY  THE  METHOD  USED  BLURRED   THE  IMAGE  OF  THE  USA  AS  THE  LIBERATORS  AS  IT   HAS  BEEN  ASSOCIATED  WITH  SINCE  THE  D-­‐DAY  
  • 17. RETAILOMANIA Real  vs  esGmated  world  producGon  of  crude  oil   Källa: Transport energy futures: long-term oil supply trends and projections, Australian Department of Infrastructure, Transport, Regional Development and Local Government, Department of Infrastructure, Transport, Regional Development and Local Government OIL  HAS  BEEN  THE  CAUSE  OF  SEVERAL  WARS,  SIMPLY  BECAUSE  IT  IS  THE  BLOOD  SYSTEM  OF  MODERN  TRANSPORTATION.  WHEN  THE  OIL  PRODUCTION  REACHES  ITS  PEAK,  ANY  LOGISTIC  OPERATION  WILL  BE  MORE  EXPENSIVE,  THEREBY  CHANGING  THE  FOUNDATION  OF  MODERN  RETAILING  WITH  GLOBAL  SOURCING  AND  GLOBAL  STORE  NETWORKS.  
  • 18. RETAILOMANIA-­‐  LOCAL  BRANDS  WILL  BE  ABLE  TO  CHALLENGE  GLOBAL  BRANDS  AS  PRICES  FOR  TRANSPORTATION  WILL  RISE.  -­‐  OLD  TIME  BRAND  CHAMPIONS  OF  THE  WEST  (LIKE  COKE  FOR  EXAMPLE)  ARE  NOT  THE  OBVIOUS  WINNERS  IN  DEVELOPING  COUNTRIES  AND  TIGER  ECONOMIES  OF  AFRICA  AND  ASIA,  AS  THE  IMAGE  OF  THE  USA  HAS  CHANGED  FROM  LIBERATORS  TO  CRUSADERS  IN  CERTAIN  COUNTRIES.  -­‐  SMALLER  STORES  WILL  CONTINUE  TO  GROW  AS  IT  MEANS  LOWER  INVESTMENTS,  CLOSENESS  TO  MARKET  AND  HIGHER  SALES  PER  SQM  AS  WELL  AS  ENERGY  EFFICIENCY  
  • 19. 3.  SOCIAL  MEDIA  SOBRIETY  
  • 20. RETAILOMANIA The  last  decade  has  senn   DURING  THE  LAST  DECADE  ,  THERE  HAS  BEEN  A  FANTASTIC  GROWTH   OF  WHAT  WE  CALL  SOCIAL  MEDIA:  DIFFERENT  DIGITAL  SERVICES  FOR   SHARING  VIEWS  AND  INFORMATION,  CONNECTING  AND  SELF   BRANDING.     THESE  SOCIAL  MEDIA  PLATFORMS  HAVE  MADE  IT  POSSIBLE  TO   CONNECT  WITH  FRIENDS  AND  WITH  BRANDS.  CONSUMERS  ARE  ABLE   TO  TALK  ABOUT,  AND  SHARE  VIEWS  AND  EXPERIENCES  WITH  OTHER  GLOBALIZATION HAS MADE CONSUMERS  WITHOUT  THE  CONTROL  OR  INVOLVEMENT  OF  THE   THE WORLD BRAND  OWNER  BEING  DISCUSSED.  CERTAINLY  A  CHALLENGING   SITUATION  IN  A  WORLD  WERE  THE  LARGEST  BRAND  COULD  PROJECT   INTERCONNECTED ANY  MESSAGE  JUST  BY  BEING  THE  HIGHEST  BIDDER  ON  THE  MEDIA   MARKET.    
  • 21. RETAILOMANIA AS  ALWAYS,  WHEN  NEW  THINGS  POPS  UP,  SOME  PEOPLE  TEND   TO  BELIEVE  THAT  IT  WILL  REPLACE  EVERYTHING  ELSE.   IT  WON`T   BUT  IT  WILL  ADD  ANOTHER  LAYER  OF  POSSIBILITIES  FOR  A  DIALOGUE  WITH  CONSUMERS  AND  IF  YOU  DO  WELL,  CONSUMERS   WILL  HELP  YOU  SPREAD  THE  MESSAGE.  
  • 22. RETAILOMANIA TRADITIONAL   ONLINE  RETAIL   RETAIL   SERVICE   RETAIL   PRE-­‐TAIL   RETAIL   POST-­‐TAIL  Researching  and  comparing  alternaLves  by  using:   GeYng  more  detailed  informaLon  while  in-­‐ Sharing  experiences  and  conquests  On-­‐line  search     store:   Word  of  mouth  Word  of  mouth   In-­‐store  communicaLon/Signage   Social  networks  Social  networks   Staff  Ads   In  store  search  with  help  of  mobile  Apps   devices   Good  and  bad  experiences  are   being  used  by  other  consumers  to   facilitate  their  own  decision   process  
  • 23. RETAILOMANIA SOCIAL  MEDIA  IS  A  BAD  EXPRESSION  AS  IT  SUGGESTS  THAT  BY   USING  IT    YOU  ARE  PER  DEFINITION  A  SOCIAL  COMPANY.  BUT   MEDIA  ARE  NOT  SOCIAL.  PEOPLE  ARE.    THAT  MEANS  THAT  USING  SOCIAL  MEDIA  IS  NOT  AN  EXCUSE  FOR  NOT  DOING  THE  HOMEWORK  ON  BRANDING  ETC  AS  COMPANIES   HAVE  BEEN  DOING  THE  LAST  CENTURY.  IT  IS  NOT  VERY  DIFFERENT  FROM  YESTERDAY.  EXCEPT  FOR  IF  YOU   MESS  THINGS  UP,  EVERYBODY  WILL  KNOW  AND  LAUGH  AT    YOU.  
  • 24. RETAILOMANIA
  • 25. RETAILOMANIASOCIAL  MEDIA  SOBRIETY,  THE  UNDERSTANDING  THAT  THIS  IS  NOT  THE   HOLY  GRAIL  AS  SOCIAL  MEDIA  CONSULTANTS  HAVE  TALKED  ABOUT  AND  THAT  EVEN  THOSE  COMPANYS  EVENTUALLY  WILL  HAVE  TO  EARN  MONEY  WILL  SET  FOCUS  ON  ROI  FOR  SOCIAL  MEDIA  CAMPAIGNS.  LIKES   ARE  NOT  THE  SAME  AS  MONEY.  AND  SHARING  IS  NOT  THE  SAME  AS   GETTING  A  NEW  CUSTOMER.     YOU  CAN  PUT  LIPSTICK  ON  A  PIG,  BUT  IT`S  STILL  A  PIG.   ROI  IS  CRUICAL.  IT´S  NOT  DIFFERENT  THIS  TIME  EITHER.   ASK    MARK  ZUCKERBERG  –  HE  SHOULD  KNOW  BY  NOW.  
  • 26. RETAILOMANIA4.  EMBRACE  TECHNOLOGY  OR  DIE  
  • 27. RETAILOMANIA THE  EVOLUTION  OF  SMART  PHONES  AND  IPADs  HAVE  LED  TO  NEW   HABITS  SUCH  AS  SECOND  SCREENING,  MEANING  THAT  YOU  USE  A  SECOND  SCREEN  AT  THE  SAME  TIME  YOU  WATCH  TV  IN  ORDER  TO  GET   MORE  INFORMATION,  INTERACT  WITH  OTHER  VIEWERS  OR  MAKE   COMMENTS  TO  YOUR  ONLINE  NETWORK.  THIS  IS  NOW  A  MAINSTREAM  PHENOMENON  .  WHAT  IS  INTERESTING  IS  WITH  WHAT   SPEED  WE  TOTALY  CHANGE  BEHAVIOUR  BASED  ON  NEW   PLATFORMS.    
  • 28. RETAILOMANIAMOBILE  DEVICES  HAVE  ALSO  MADE  IT  POSSIBLE  TO  DO  RESEARCH  ON  COMPETITOR  PRICES  WHILE  IN  THE  STORE  BY  SIMPLY  SCANNING  THE  BAR  CODE  AND  WAIT  FOR  THE  RESULTS.  AND  MADE  IT  POSSIBLE  TO  INTERACT  WITH  ADS,  PRODUCTS  AND  STORES  BY  SCANNING  QR  CODES  FOR  SEVERAL  EFFECTS.  BUT  THIS  IS  OLD  NEWS.  
  • 29. RETAILOMANIATHE  YEARS  TO  COME  WILL  LEAD  TO  AN  EXPLOSION  OF  AUGUMENTED  REALITY  APPS  BY  WHICH  YOU  CAN  GET  INFORMATION  FROM  YOUR  SURROUNDINGS  BY  SIMPLY  POINTING  YOUR  CAMERA  AT  THEM.  BY  USING  THE  PHONES  POSITIONING  FUNCTIONS,  APPS  CAN  DISPLAY  INFORMATION  AND  POSSIBILITIES  TO  INTERACT  IN  WAYS  WE  HAVE  NEVER  BEEN  ABLE  TO  DREAM  ABOUT.  
  • 30. RETAILOMANIAGoogle  glasses  is  a  research  project  that  puts  computer-­‐processing  power,  a  camera,  a  microphone,  wireless  communications  and  a  tiny  screen  into  a  pair  of  lightweight  eyeglasses.     hZp://goo.gl/af4kt  
  • 31. RETAILOMANIABut  the  use  of  augumented  reality  will  hardly  stop  there.  Several  devices  will  be  used  as  technology  get  available:    http://retailomania.blogspot.se/2012/08/augumented-­‐reality-­‐possibilities.html  
  • 32. RETAILOMANIATechnology  could  also  be  used  in  order  to  create  various  in  store  effects:  http://retailomania.blogspot.se/2012/05/hologram-lingerie-model-haunts-store.html
  • 33. RETAILOMANIA5.  CASH  IS  SOOOO  20TH  CENTURY  
  • 34. RETAILOMANIAPayPal  processed  payments  of  78  Billion  USD  2011,  which  is  up  36  %  from  2010.  We  will  most  likely  see  an  explosion  in  mobile  payments  in  years  to  come  as  several  retailers  adapt  in  order  use  the  different  platforms  being  developed  for  mobile  payments.    
  • 35. RETAILOMANIAWE  NOW  SEE  THE  LAST  DAYS  OF  CASH,  A  DECLINE  THAT  STARTED  IN  THE  50s  WITH  THE  GROWTH  OF  CREDIT  CARDS.    "Cash  has  dug  in  its  heels  for  small-­‐value  transactions,  but  with  the  arrival  of  each  new  tech  offering  (providing)  an  alternative  way  to  pay  for  little  stuff  —  text  your  parking  payment,  Starbucks  mobile  app,  Square,  etc.  —  cash  is  being  further  and  further  marginalized,”     David  Wolman,  author  of  the  book  The  End  of  Money.  
  • 36. RETAILOMANIA6.  IN  STORE  EXPERIENCE  IS  MORE  CRUISAL  THAN  EVER  
  • 37. RETAILOMANIACONSUMERS  DECIDE  WHERE  TO  BUY  A  CERTAIN  PRODUCT,  BASED  ON  THE  FOLLOWING   WHAT  IS  BEING  OFFERED?   WHO  IS  OFFERING?    Assortment   WHAT   WHO    Positioning    Service  offer    Brand  personality   WERE  IS  IT  OFFERED?   HOW  IS  IT  OFFERED?    Channels   HOW    Concept   WHERE    Locations    Merchandising    Visuals    Technology   WHO  AND  HOW  SETS  THE  ATMOSPHERE  IN  THE  STORE  
  • 38. RETAILOMANIA FROM MULTICHANNEL TO HYPERCHANNEL RETAIL DEVELOPMENT 2012-2022 Online retailers are retailers using only the online world as their field of operations. Online retailing are Traditional retailing will continue likely to rise the coming decade as to develop with focus on smaller Online retailing on more consumers are online, more concepts as turnover/square Mobile internet has exploded communities and online consumers feel safe online and the social media platforms are The C2C-market is likely to rise due meter will become a critical KPI over the last couple of years due evolution of payment systems will likely to be more to both economical and as competitions get harder. Small to smart phones and various make payments easier. specialized as the environmental concerns. format also means: need-to-have and nice-to-have - Quicker, easier shopping Online kiosks inside apps. platforms mature. - Smaller investments (risk) stores makes it More retail functionality will be - Coming closer to the customer implies less fuel spending possible to research online and compare built into apps and both ecommerce and in-store Online - More possibilities to optimize functions and interactivity will be standard retailers store location density. features of the assortment. features. C2C Multichannel retailers includes offline retailers going online, but also Mobile retail EBay those online retailers that chooses to open a services Online physical store. Traditional Some use the online ”Social” media services world to gather information before going retail platforms retail to the store, while others Spotify use the physical store as Popup- In-store Facebook et al Voddler a showroom before ordering online, perhaps online kiosks stores via smart phone while stillPopup stores started as guerillaactivities but have now matured Multi- Online virtual in the store Virtual goods are products oras a new format when and where channel goods retailing Farmville etc services consumed online and aretemporary installations are Why should people need to go never an actual asset of the use.necessary. Here Telenor, mobile outside to grab a prescription orphone kiosk. pick up a preordered bag of Drive-thru groceries. Drive-thru are a reality in stores many places and are likely to rise. Several banks have launched retail store Vending Retailers looking concepts in order to appear as a modern machines O providing utlet service provider. Photo s services from Danish Jyske Bank Vending machines are not what they used to be. Here is U´tiques luxury product vending machine, In order to improve the and its modern cousins from other Third party co-op share of wallet ratio from existing customers Service providers vending operators are selling everything from shoes to vodka several retailers are using retail tactics moving into the service from designed machines. Hotels, gyms, spas industry providing banking, insurance, Retail banking, Retail opportunities for situational gardening wedding and shopping. Shoes and training insurance companies, even funeral services. equipment at the gym, wellbeing at travel agencies the spa and so on. THE  NUMBER  OF  CHANNELS  ARE  EXPLODING  
  • 39. RETAILOMANIA A  CLEAR  RETAIL  BRAND  PERSONALITY  IS  A  MUST   Hard discount Price fightersDiscount No frills chic Low price with class The teacher Educates the customerKnowledge The coach Buddy and helper The formal Authencity and strict normsAuthencity The good Nostalgia old days The real thing Best of the best
  • 40. RETAILOMANIA The  degree  of  interaction  between  customer  and  the  store  will  rise  in  order   to  increase  the  percieved  value   Customer  as   Customer  as  a  part   Customer  as  a  partner   audience    of  the  concept  Low  degree  of   High  degree  inteaction   of  inteaction   Service  concept   Self  service   Interactive  concepts   The  customer  are  not   The  most  common  of  concepts  during   The  store  visit  is  an  integral  part  of  the   interested  or  allowed  to   the  later  half  of  the  20th  century.  The   product  were  the  customer  is  co-­‐ browse  the  merchanidise   customer  choses  what  they  want  to  by   creating  or  personalizing  a  product  to  fit   themselves,  but  are  served  by   and  goes  to  the  cashier.  The  customer   special  requirements.   staff.   does  one  part  of  the  job  and  thereby  get   a  better  price.  
  • 41. RETAILOMANIABLURRING  OF  OFF  LINE  AND  ON  LINE  EXPERIENCE  WILL  INCREASE  OVER  TIME  hZp://retailomania.blogspot.se/2012/06/merging-­‐of-­‐online-­‐and-­‐offline.html  hZp://retailomania.blogspot.se/2011/01/connected-­‐store-­‐intels-­‐vision-­‐of-­‐future.html  hZp://retailomania.blogspot.se/2012/05/blurring-­‐borders-­‐between-­‐online-­‐and.html  
  • 42. RETAILOMANIA7.  CUSTOMER  DATA  ANALYSIS  NECESSARY  TO  KEEP  TRACK  OF  VISITOR  BEHAVIOR  
  • 43. RETAILOMANIAMOST  RETAILERS  COUNT  THEIR  VISITORS  IN  ORDER  TO  KEEP  TRACK  OF  STORE  PERFORMANCE   Can  you  aZract   Can  you  convert  more   you  make   Can   new  visitors?   visitors  into  customers.   customer   every   buy  more?   -­‐ The  number  of  visitors   -­‐ Conversion  rate   -­‐ Number  of  add-­‐on  sales   -­‐ Average  basket  value   -­‐ Average  number  of  articles  per  transaction   Can  you  make   them  come  more   ocen?  
  • 44. RETAILOMANIABUT  TECHNOLOGY  ALLOWS  THE  RETAILER  TO  USE  EYE  TRACKING  TECHNOLOGY  AND  AUTOMATIC  IN  STORE  TRAFFIC  TRACKING  IN  ORDER  TO  ANALYSE  CUSTOMER  FLOW,  HOT  SPOTS  AND  COLD  ZONES  OF  THE  STORE,  THEREBY  MAKING  IT  POSSIBLE  TO  MOVE  HIGH  MARGIN  PRODUCTS  TO  ZONES  WITH  MORE  TRAFFIC.  
  • 45. RETAILOMANIAAS  COMPETITION  GETS  TOUGHER  IN  STORE   TRAFFIC  ANALYSIS  WILL  BE  CRUICAL  IN  ORDER  TO  MAINTAIN  A  PROFITABLE  STORE   AT  ALL  TIMES.  
  • 46. RETAILOMANIA STRATEGY  IS  GREAT!!!   BUT  DON´T  FORGET  THE  EVERYDAY  TACTICS  THAT   MAKES  STRATEGY  HAPPEN  hZp://retailomania.blogspot.se/2012/05/teotrwawki-­‐retail-­‐survival-­‐tacLcs.html  
  • 47. RETAILOMANIAAND  FINALLY;  BEING  A  TURKEY  OR  A  BLACK  SWAN  IS  PART  INNOVATION,  PART  CHOICE  AND  PART  EVERYDAY   HARD  WORK   BUT  REMEMBER…  
  • 48. RETAILOMANIA
  • 49. RETAILOMANIAwww.morm.se  Retailomania.blogspot.com  @retailomania  https://www.facebook.com/Retailomania