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The Shift in Retail
 

The Shift in Retail

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Retail is shifting. You need 6 shifts in your thinking as a retailer to adapt to this.

Retail is shifting. You need 6 shifts in your thinking as a retailer to adapt to this.

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    The Shift in Retail The Shift in Retail Presentation Transcript

    • The Shift in Retail
    • You can find me on Twitter: @netlash
    • TheShift in Retail ?
    • E-commerce in Belgium is still small... Photo Credit: Dawn Huczek via Compfight cc
    • Source: creamoda.be 3%the share of total Retail sales in Belgium
    • Growth of online shoppers and online sales is limited. Photo Credit: c_ambler via Compfight cc Growth International : +8% Belgium : +6% Bron: CCB 2010 en 2012
    • Sales in Belgium 17% 2010 2012 6% 16% Bron: Consumer Barometer - TNS, IAB and Google.
    • The shift in retail is real - but not in online sales. Online research (BE) 2010 : 25% 2012 : 51% Photo Credit: Rich Anderson via Compfight cc
    • 51% Online research in Belgium prior to purchase Online research + 104% 25% 2010 2012 Source: TNS, IAB and Google » Consumer Barometer » Belgians who bought the product/service, and are part of the online population
    • We’re running (far) behind in online sales. We’re running behind in online research - but we’re taking giant steps forward! Belgium België was de grootste groeier wereldwijd op vlak van online onderzoek verrichten, op uitzondering van Israël en Nederland.
    • Focus on research Photo Credit: Rich Anderson via Compfight cc Marketers that base their decisions about marketing spend on online purchase shares, are likely to make the wrong decisions. Profound changes in consumer behaviour remain largely unseen when focusing on purchase only. Google
    • Big shift For the first time ever the majority of purchasers does online research before purchasing.
    • Source: TNS, IAB and Google » Consumer Barometer » Belgians who bought the product/service, and are part of the online population 26% 26%25% 44% online 56% offline 2% online 98% offline 80% offline20% online Where do Belgians buy? Offline research only Off & online research combined Online research only Difference between off & online purchase RESEARCH PURCHASE PURCHASE PURCHASE
    • Source: TNS, IAB and Google » Consumer Barometer » Belgians who bought the product/service, and are part of the online population 26% 26%25% 44% online 56% offline Online research only Online research only Difference between off & online purchase RESEARCH PURCHASE
    • “Laten zien!!” “Ik zal eens googelen om te zien of ik een foto kan vinden”
    • Horizontal picture and text Home was a condo on the fifteenth floor of a filing cabinet for widows and young professionals. The walls were solid concrete. A foot of concrete is important when your next-door neighbor lets their hearing aid go and have to watch game- shows at full volume. Source: when no source, leave this blank.
    • 1. Shift from online shop to inspiration
    • Short textThere is no“1 door” anymore
    • Source: Google Analytics - Random retail klanten - exclusief direct verkeer 50% 40% but more and more people enter directly on the product level. 1/2 comes in through the front door,
    • now what? The only page on your website...
    • Advise BookBook Shoes InspireConnect Use Cross-sell Story made by... designer Bron: Baekdal » E-commerce in the connected world
    • ‣ move away from pure transaction ‣ use your site to connect and inspire 1. Shift from online shop to inspiration
    • Online vs offline? Today≈ copy.
    • Front = Focus on inspiration The consumer has no idea what he/she wants. selection inspiration
    • Refinement = inspiration = selection The consumer has no idea what he/she wants. inspiratie selection
    • Selection = inspiration < selection The consumer has no idea what he/she wants. selection inspiration
    • Buy = sale + up-sell The consumer has no idea what he/she wants. sale up-sell
    • Random shopping? We start from the same funnel, where visitors enter through the front door, and are gradually led to the checkout. ... We assume that the connected consumer has no idea what he or she wants!
    • Source: Comeos; nieuwsbrief van de belgische handel nr 10 - januari 2013 90%of the customers know what they want before they go into the store. Comeos
    • Source: PwC US » Multichannel shopping survey ‣ ervaring, kennis en netwerk opdoen ‣ beperkt risico ‣ It was not my intention to do this in front of you. ‣ How did you find me? ‣ So I suppose it's a little late for an apology, huh? ‣ You can beg better than that! ‣ What brings you to Okinawa? Through social networks inspiration and expertise a minority shops social
    • Social e-commerce A store on a social channel Stimulating sales through sharing
    • BRAND PRODUCT
    • 2. Shift from paid to earned/ owned
    • VERSUS tekstWebsite
    • VERSUS Branded communication Non-branded communication Website
    • VERSUS Branded communication Non-branded communication PAID MEDIA OWNED & EARNED MEDIA Website
    • ‣ paid: above, banners,“interruption marketing” ‣ owned: own website, SEO ‣ shared: own facebook page etc. ‣ earned: consumers talking about you! 2. Shift from paid to earned/owned
    • 3. Shift from shop to product
    • consumer Select your shop location delivery Choose your products Pay online Get product
    • SHOP PRODUCT
    • Source: Comeos; nieuwsbrief van de belgische handel nr 10 - januari 2013 90%of the customers know what they want before they go into the store. Comeos
    • SHOP PRODUCT
    • consumer Find store location Choose product Pay online Get product Select store
    • consumer Find store location Choose product Pay online Get product Select store
    • ‣ SEO: product based, not brand based ‣ don’t force customers in your logistic box 3. Shift from shop to product
    • 4. Shift from silos to multichannel
    • Bron: The Zero Moment Of Truth Multi-channel consumerpath
    • Multi-channel consumerpath YouTube Social media Blogs & niche sites Online shops
    • No longer a difference between online & offline
    • A Wijs-example: paths to conversion
    • Adviseer BookBook Inspire Connect Gebruik Expand Vertel Combine, not“silo-plugin”
    • ‣ be where your customers are ‣ buyers market, not sellers market... 4. Shift from silos to multichannel
    • 5. Shift from silos to closed loop
    • ‣ connect your channels ‣ use data, not gut to make decisions ‣ CRM! 5. Shift from silos to closed loop
    • 6. Shift to mobile
    • If you say social, you say mobile
    • Source: Baekdal.com self-fulfilling prophecy
    • Mobile = Smartphones & Tablets
    • Mobile ≠ Smartphones & Tablets Mobile = verb
    • Mobile ≠ Smartphones & Tablets Mobile = verb A combination of freedom of choice, freedom of time and freedom of place.
    • Mobile ≠ Smartphones & Tablets Mobile = verb A combination of freedom of choice, freedom of time and freedom of place. it is about being able to do all those things, without the need to plan ahead.
    • Facebook Monthly active users (MAUs) 1.15 billion Mobile MAUs 819 million Bron: Facebook; June 2013
    • Mobile? 71.27% of Facebook users use Facebook ALSO mobile.
    • I am not Facebook.
    • Source: Think with Google Smartphones are being used everywhere...
    • Bron: Tom-Bowmam; BBC Worldwide » IAB ThinkDigital » Mei 2013 0% 5% 10% 15% 20% 25% 30% 35% 40% TV Computer Smartphone Tablet ochtend middag avond Newsconsumption throughout the day
    • Facts en figures in Flanders Smartphone owners 38,5% Mobile data subscription 35,7% Tablet owners 27,7% Bron: Digimeter » Mediatechnologie- & ICT gebruik inVlaanderen; Wave 5 » Augustus - September 2012 23,5% 14,8% 2% +64% +141% +1285% 20122010 evolution
    • Bron: Google » Mobile in store What do we search? Retail 35% 31% 59% 37% 32% 12% 21% 10% 14% 5%
    • This is what happens in your showroom...
    • Husband in the showroom
    • Chair? Order online? Delivery? Wife at home
    • Even in your showroom, your consumers are doing research...
    • Camera reads emotion.
    • 5. Data at hand
    • Doug Straton, Unilever Mobile is the glue, Between online and offline. Bron: Nielsen’s Consumer 360 conference
    • ‣ mobile is not a gadget, it’s a way of thinking ‣ you’re LATE! 6. Shift to mobile
    • 1. Shift from online shop to inspiration 2. Shift from paid to owned/earned 3. Shift from shop to product 4. Shift from silos to multichannel 5. Shift from silos to closed loop 6. Shift to mobile 6 shifts YOU should make
    • Download the complete whitepaper with trends, facts and figures. FREE http://wijs.be/nl/downloads/ de-shift-in-retail
    • Are you ready toShift ?
    • Conversation
    • Wijs bvba Voorhavenlaan 31/3 9000 GENT 09 335 22 80 09 330 09 83 http://wijs.be info@wijs.be BE 0473.071.275