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Using Digital in Retail

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Using Digital Tactics in Retail to drive growth. Growth in Retail is going to come from the digital E-commerce sector. Here are some ways in which high street retailers can take advantage of this ...

Using Digital Tactics in Retail to drive growth. Growth in Retail is going to come from the digital E-commerce sector. Here are some ways in which high street retailers can take advantage of this growth for their own business.

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Using Digital in Retail Presentation Transcript

  • 1. Digital in Retail: The Exeter Experience
    James Moffat, Organic Development
  • 2. Page 2
    Digital in Retail: The Exeter Experience
    Retail: whats the deal?
    1
    2
    Mobile: why is it important?
    Digital Tactics for retail: what to do?
    3
    AR and augmenting the experience?
    4
    A strategy for success: The 10 pointaction plan
    5
  • 3. Page 3
    Digital in Retail: The Exeter Experience
    Retail: whats the deal?
    1
    2
    Mobile: why is it important?
    Digital Tactics for retail: what to do?
    3
    AR and augmenting the experience?
    4
    A strategy for success: The 10 pointaction plan
    5
  • 4. Page 4
    Time we spend shopping….
    8.9 Billion hours per year in UK
    182.5 Hours/person/ year
    49 million 16 plus adults in UK
    Stats from the ONS
  • 5. Page 5
    The state of retail in the UK… (08 to 09) Source: ONS
    UK Retail employment
    Down
    145,000
    UK Retail Outlets
    Down
    100,900
  • 6. Page 6
    Low growth here to stay….
    British Retail Consortium
    ‘The market scraped margin growth in 2009 and I see a low growth envoronment here to stay. The combination of a weak economic outlook and a changing consumer means the industry is at a key inflection point as it re-aligns itself to a new reality . What growth there will be will be absorbed by online. Like for like sales will thus dip in and out of negative territory on a monthly basis’
    KPMG Retail Think Tank, Feb 2010
    Retail Sales Index Sept 2010 0.5% Growth year on year for September
  • 7. Page 7
    Shoppers are turning away from retail
    Shoppers are tuning out. Worse, they are exhausted by their shopping experience when they should be energised. That’s what happens when you force shoppers to think about getting low prices when what they want it to feel good about what they are buying.
     
    Al Wittemen – MD Retail Strategy, Advantage Retail
  • 8. Page 8
    B2C Ecommerce Sales growth in Europe,
    2006 to 2011, Billions, USD $
    2006 2007 2008 2009 2010 2011
  • 9. Page 9
    Predicted US retail growth 2010
    2.5%
    Predicted E-Retail growth in 2010
    11%
    Estimated growth in the next 5 years
    10% Per Year
    E-Retail – the key to growth
  • 10. Page 10
    Good News: The bulk of retail shopping still takes place in store… but now is the time to act!
    Infogrpahic by milo.com
  • 11. Page 11
    Solution: Integrate digital into your retail experience
    Benefits of E-Commerce
    • Research and Learning
    • 12. Better Choice
    • 13. Time Saving / Convenience
    • 14. Empowerment,Customer feedback
    Benefits of High Street
    • Immediacy of purchase
    • 15. Tactileexperience
    • 16. In-store experience
    • 17. Sales Assistance
  • Page 12
    Solution: Integrate digital into your retail experience
    Benefits of E-Commerce
    • Research and Learning
    • 18. Better Choice
    • 19. Time Saving / Convenience
    • 20. Empowerment,Customer feedback
    Benefits of High Street
    • Immediacy of purchase
    • 21. Tactileexperience
    • 22. In-store experience
    • 23. Sales Assistance
  • Page 13
    Take Away:
    Integrate
    Digital Tactics
    Into your
    Retail Experience
  • 24. Page 14
    Digital in Retail: The Exeter Experience
    Retail: whats the deal?
    1
    2
    Mobile: why is it important?
    Digital Tactics for retail: what to do?
    3
    AR and augmenting the experience?
    4
    A strategy for success: The 10 pointaction plan
    5
  • 25. Page 15
    Reach: Important channels
    The importance of mobile
    Features of Mobile
    • Smart mobile market exploding
    • 26. Rich media in your pocket
    • 27. Powerful software = Apps
    • 28. Geolocation technology
    • 29. Real time communication
    • 30. Still a tool for SMS, phoneand MMS
    • 31. Further development of bluetooth style direct messaging
  • Page 16
    The importance of mobile
    • Mobile is a fast emerging set of channels
    • 32. Reflects traditional channels but raises some issues
    • 33. Small screen
    • 34. Touch screen
    • 35. Use of SMS and MMS for CRM and servicing customers
    • 36. Further Development of bluetooth style direct messaging
  • Page 17
    Reach: Important channels
    The importance of mobile
    The importance of mobile
    • Mobile is a fast emerging set of channels
    • 37. Reflects traditional channels but raises some issues
    • 38. Small screen
    • 39. Touch screen
    • 40. Use of SMS and MMS for CRM and servicing customers
    • 41. Further Development of bluetooth style direct messaging
  • Take Away:
    Page 18
    The Future of the internet is….
    MOBILE
  • 42. Page 19
    Digital in Retail: The Exeter Experience
    Retail: whats the deal?
    1
    2
    Mobile: why is it important?
    Digital Tactics for retail: what to do?
    3
    AR and augmenting the experience
    4
    A strategy for success: The 10 pointaction plan
    5
  • 43. Page 20
    3
    top
    tips
  • 44. Page 21
    1.
    listen
  • 45. Page 22
    1. Listen
    WHERE
    ONLINE
    MOST
    INFLUENTIAL
    AGE
    SENTIMENT
  • 46. Page 23
    2
    REPUTATION!
    REPUTATION!
    REPUTATION!
    Listening
  • 47. Page 24
    Reputation
    PREDICTION…
    In the future you will not be able to sell product, run a business or provide a service if your reputation is poor and you do not listen to customers!
  • 48. Page 25
    3.
    engage
  • 49. Reward customers for checkin...
    Page 26
    Claim you venue….
    1. Claim you venue…
  • 50. Page 27
    How do you reward your customers?
    Mayor Specials:
    • Unlocked only by the Mayor of your venue.
    ("Foursquare has deemed you the Mayor? Enjoy a free order of french fries!")
    Check-in Specials:
    • Unlocked when a user checks in to your venue a certain number of times.
    ("Foursquare says you've been here 10 times? That's a free drink for you!")
    Frequency-based Specials:
    • Are unlocked every X check-ins.
    ("Foursquare users get 20% off any entree every 5th check-in!")
    Wildcard Specials:
    • Always unlocked, but your staff has to verify some extra conditions before awarding the Special.
    ("Show us your foursquare Swarm badge and get a free drink!”)
    How do you reward your customers?
  • 51. Page 28
    Statistics Interface
    • Most recent visitors
    • 52. Most frequent visitors
    • 53. The time of day people check in
    • 54. Total number of unique visitors
    • 55. Histogram of check-ins per day
    • 56. Gender breakdown of customers
    • 57. Portion of foursquare check-ins broadcast to Twitter and Facebook
    • 58. Always adding more
  • Page 29
  • 59. Page 30
    Foursquare is not the only way to engage online…
  • 60. Page 31
    Take Away:
    Listen
    • Understand who is talking, where and what about
    Watch your Reputation
    • People will tell other people what they think before they tell you
    • 61. Make sure you know what people think of you
    Engage with people directly
    • Build you reputation
    • 62. Build advocacy
    • 63. Reward your best customers
    WARNING…
    This kind of media can be addictive.
    Social media can be time consuming.
    Limit your time to a maximum of two hours per week.
  • 64. Page 32
    Digital in Retail: The Exeter Experience
    Retail: whats the deal?
    1
    2
    Mobile: why is it important?
    So what should you do about it?
    3
    AR and augmenting the experience?
    4
    A strategy for success: The 10 pointaction plan
    5
  • 65. Page 33
    Shoppers are turning away from retail
    Shoppers are tuning out. Worse, they are exhausted by their shopping experience when they should be energised. That’s what happens when you force shoppers to think about getting low prices when what they want it to feel good about what they are buying.
     
    Al Wittemen – MD Retail Strategy, Advantage Retail
  • 66. Page 34
    Predicted US retail growth 2010
    2.5%
    Predicted E-Retail growth in 2010
    11%
    Estimated growth in the next 5 years
    10% Per Year
    Integrate Digital into your retail experience
  • 67. Page 35
    Solution: Integrate digital into your retail experience
    Benefits of E-Commerce
    • Research and Learning
    • 68. Better Choice
    • 69. Time Saving / Convenience
    • 70. Empowerment,Customer feedback
    Benefits of High Street
    • Immediacy of purchase
    • 71. Tactileexperience
    • 72. In-store experience
    • 73. Sales Assistance
    OKAY SO WE CAN DO THIS ONLINE, BUT
    HOW DO YOU DO THIS IN STORE?
  • 74. Page 36
    Apple:
    • A place for knowledge and service
    • 75. A 50/50 split between these
    • 76. Come to shop, return to learn
    • 77. Ave US earnings per sq ft per year?
    What is experiential shopping?
    $4032
    Saks 5th Avenue: $362
    Source: Douglas Smith, Holy Tornado Ltd
  • 78. Page 37
    What is experiential shopping?
    the ultimate retail experience
  • 79. Page 38
    What is Augmented reality?
    ‘Layering information, tools and resources over the real world we inhabit to make it easier to understand or to enrich our experience.’
    EG Sat Nav, Google Maps, Layar
  • 80. Page 39
    What does AR look like?
    It allows you to overlay information onto the real world
  • 81. Page 40
  • 82. Page 41
    Bringing AR and Experiental marketing together
    • Finding your location
    • 83. Google maps
    • 84. Layar
    • 85. Finding a way around a large store
    • 86. Finding an In-stock product and ordering it
    • 87. Argos App
    • 88. Identifying where to buy a product you see
    • 89. Amazon photo recognition
    • 90. Assisted selling
    • 91. Mobile assistants
    • 92. Integrated video
    • 93. Smart Mirrors
    • 94. Smart checkout and payment
    • 95. Trying out products not in stock
    • 96. Relationship management
    • 97. Recognising customers
  • Page 42
    Digital in Retail: The Exeter Experience
    Retail: whats the deal?
    1
    2
    Mobile: why is it important?
    So what should you do about it?
    3
    AR and augmenting the experience?
    4
    A strategy for success: The 10 pointaction plan
    5
  • 98. Page 43
    A Strategy for Success: Your 10 point action plan
    ACTION ONE
    • Start with your business goals: What it is you are trying to do
    • 99. Work out what it is you need to do in order to meet these goals
    ACTION TWO
    • Work out how you can use digital to improve your retail experience
    • 100. This goes for the instore experience as well as the out of store experience
    ACTION THREE
    • Work out who your customers are and where they are online
    • 101. Work out how they use technology at the moment and in the future
  • Page 44
    A Strategy for Success: Your 10 point action plan
    ACTION FOUR
    • Start getting familiar with mobile apps
    • 102. Try out FourSquare
    ACTION FIVE
    • Listen to what you customers are saying abut you
    • 103. Start to monitor and manage your reputation
    ACTION SIX
    • Start engaging directly with people online and through apps
  • Page 45
    A Strategy for Success: Your 10 point action plan
    ACTION SEVEN
    • Make sure you offer a genuine experience in your store
    • 104. Think about why people might come to you rather than another place?
    ACTION EIGHT
    • Think about how people might be looking for your shop or services and what you can do to make that easier for them
    ACTION NINE
    • Start to think about innovative ways of using technology to make the retail experience more fulfilling and enjoyable
    • 105. …Not to mention more profitable for you
  • Page 46
    ACTION TEN
    • Speak to an Expert, someone who can help you come up with an effective plan for your new retail strategy
    ?
    ?
    ?
    Do You Have Any Questions?
    Thank you for listening