Retail insights 2011 09
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Retail insights 2011 09 Presentation Transcript

  • 1. Retail Insights September 2011©2011, Cognizant
  • 2. North America News2 | ©2011, Cognizant
  • 3. Lowe’s launches iPhone and iPod app • Lowe’s has launched a home improvement app for iPhone and iPod, now available on the App Store • The Lowes App allows consumers to research and purchase products, locate stores, watch how-to videos, review product ratings, and moreSource: http://www.retailingtoday.com/article/lowe%E2%80%99s-launches-iphone-and-ipod-app; 3 | ©2011, Cognizant
  • 4. Collective Brands to close 475 underperforming stores as it considers selling itself • Collective Brands, parent company of Payless and Stride Rite shoe chains is planning to close 475 underperforming stores over the next three years • The strategy, said Collective, is to optimize the performance of its Payless and Stride Rite stores • The company currently operates 4,844 stores, of which 4,461 are Payless storesSource: http://www.retailingtoday.com/article/collective-brands-close-475-underperforming-stores-it-considers-selling-itself; 4 | ©2011, Cognizant
  • 5. Target puts final Canadian plans in motion • Targets entry into Canada is nearing completion, as the company finalized its real estate transactions • Targets venture into Canada began in January when the company announced that it had agreed to pay C$1.825 billion to purchase from Zellers Inc., a subsidiary of the Hudsons Bay Company • Target plans to open 125 to 135 stores in Canada, the majority of which will open in 2013, beginning with the first cycle in MarchSource: http://www.retailingtoday.com/article/target-puts-final-canadian-plans-motion; 5 | ©2011, Cognizant
  • 6. Wal-Mart bringing back layaways for holiday shopping • Wal-Mart Stores will introduce a holiday layaway plan from Oct 17 to Dec 16 • If the program is successful, Wal-Mart said it may extend it throughout the year • Sears, Kmart, Toys R Us, Best Buy, T.J. Maxx, Fashion Bug, Victorias Secret and Kay Jewelers are a few retailers who offer layaway option • Layaway option is also available as a feature in the POS system, making functionality integration much easierSource: http://www.retailingtoday.com/article/wal-mart-bringing-back-layaways-holiday-shopping;http://blog.jdapos.com/blogjdaposcom/bid/46396/The-Re-Return-of-the-Layaway; 6 | ©2011, Cognizant
  • 7. United Kingdom News7 | ©2011, Cognizant
  • 8. UK Retailers Prepare for Another Wave of Closures • Britain’s high street retailers hit by multiple waves of closures • Sales figures dropped by 2.2% year-on-year in August for mid-market retailers • Top reasons for sales drop o London Riots o Volatile Stock Markets o Poor WeatherSource: http://www.guardian.co.uk/business/2011/sep/05/high-street-braced-more-closures; http://www.bdo.uk.com/press/2011/9/riots-deal-bitter-blow-august-high-street-sales; 8 | ©2011, Cognizant
  • 9. UK consumers plan to shift to discounters • A monthly survey, conducted by IGD, the retail research body, has found that 29pc of consumers planned to do more of their shopping at discount stores • IDG expects five key trends shaping the discount retailer market: oBuilding authority in food o Deeper supplier engagement o Increased shopper appeal o Online development o International expansionSource: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8733876/Discount-stores-set-to-take-customers-from-supermarkets.html; http://www.igd.com/index.asp?id=1&fid=1&sid=7&tid=10&cid=2104; 9 | ©2011, Cognizant
  • 10. M&S plans major stores facelift • Marks & Spencer is to embark on its second major store revamp in two years to boost its in-house brands and food offerings • The company has allocated £600 million to help to make the 703-strong chain of shops easier to navigate • M&S also plans to make the retailers own brands (Per Una, Limited Collection and Autograph) more distinctiveSource: http://www.google.com/hostednews/ukpress/article/ALeqM5iOdUw_B1x4xXhBNI8RmX0cyM4kug?docId=N0315451315742034516A; 10 | ©2011, Cognizant
  • 11. Asia Pacific News11 | ©2011, Cognizant
  • 12. Overseas retailers attracted to Australia • Major Australian retailers have bucked the gloomy worldwide retail forecasts • Harvey Norman, Woolworths, Wesfarmers and JB Hi-Fi all reported higher profits in 2010-11 • IBISWorld analysts expect Australias retail spending to be three per cent higher than last yearSource: http://www.smh.com.au/business/overseas-retailers-attracted-to-australia-20110912-1k5au.html; 12 | ©2011, Cognizant
  • 13. Retail Technology13 | ©2011, Cognizant
  • 14. Aberdeen - Next Generation Retail Store-Level Workforce Management Strategies • Legacy WFM not meeting customer expectations and cost factors • Customer-centricity is the top reason driving workforce management efforts • Retailers expect WFM to help align staff schedules with business needs and standardize workforce management across the organization • Time & Attendance Integration with Scheduling and Self-Service Scheduling training are the top capabilities with retailers; Introducing direct linkages between in-store scheduling and key corporate goals is planned future capabilitySource: Aberdeen - Next Generation Retail Store-Level Workforce Management Strategies 14 | ©2011, Cognizant
  • 15. SymphonyIRIGroup - Digital Dimension - Consumers Embrace Digital Media with Diverse Approaches • Digital media has catalyzed connectivity to new levels, allowing users to engage in a plethora of applications designed to make life simpler and marketing more direct and connected • One in two consumers leverage traditional grocery shopping list-making tools. However, in a world where there is an “app” for everything, more consumers are leveraging new media tools for making their shopping lists • Young consumers are much more likely to use Internet-based list making tools versus other consumer trendsSource: SymphonyIRIGroup - Digital Dimension - Consumers Embrace Digital Media with Diverse Approaches 15 | ©2011, Cognizant
  • 16. Industry Research Highlights16 | ©2011, Cognizant
  • 17. Consumer Perceptions of Online Registration and Social Sign-In • 75% of customers bothered by website registrations and will change their online behaviour • While registering, 76% have given incomplete / incorrect information • When login information is forgotten, 45% leave the website instead of resetting password • Social sign-in is considered as a desirable alternative • Social sign-in users purchase more onlineSource: http://www.shop.org/c/document_library/get_file?folderId=164&name=DLFE-820.pdf; 17 | ©2011, Cognizant
  • 18. Thank You18 | ©2011, Cognizant