'Fit for Business Thought Leadership Forum' - 'Mastering Trends and Imperatives for Retail Success'

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The Retail Doctor® Group in conjunction with the ACRS – Monash University and with appreciation to our event partner Professional Advantage were delighted to present the Fit For Business …

The Retail Doctor® Group in conjunction with the ACRS – Monash University and with appreciation to our event partner Professional Advantage were delighted to present the Fit For Business
Thought Leadership Forum with Bernie Brookes, CEO of Myer Holdings.

Managing change and being Fit For Business™ are proven critical elements in both surviving and thriving in today and tomorrow’s retail environments both internationally and domestically .

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  • 1. EMERGING RETAIL FITNESS TRENDS The Retail Doctor® Group Pty Ltd www.retaildoctor.com.au
  • 2. The Retail Doctor Group Pty Ltd THE RETAIL DOCTOR® GROUP PTY LTD  Retail Specialist  Retail implementation – transform strategy to action  Retail, Franchise, Service, Shopping Centres  Transforming strategy into results We Build ‘Fit’ Retail Businesses © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 3. Today’s Appointment with The Retail Doctor EMERGING RETAIL FITNESS TRENDS The Changing Retailer  The speed of change  In Line retailing  Social connection to business connection  Emerging markets The Changing Customer  The dilemma of demographics  24/7 and connected  Generation Z  The connected team member The Changing Retail Experience  Immersive  The branded point of difference  Survival of the fittest  Deliver the basics © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 4. THE CHANGING RETAILER © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 5. Top 7 Fitness Trends THE CHANGING RETAILER  Differentiation  Speed, innovation and adaptation  The connected apostle  The emerging markets  The Inline retailer  The ‘fittest’ survive  Do the basics brilliantly © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 6. Then and Now THE CHANGING RETAILER Newspapers In store Internet Social media In store CRM Loyalty Local Markets Segmented consumer Media channels channels Global markets © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 7. The Connected Retailer THE CHANGING RETAILER 11.3 million Australians accessed the internet in 2006– 2007 61 percent of people aged over 15 (6.9 million people) ETAILER used it to make a purchase or order goods and services. Australian Bureau of Statistics (2008) © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 8. Social to Business Connections THE CHANGING RETAILER  13.6m users on eBay – one of the world’s top 10 retailers  +50% of purchases are pre-researched on the web  eBay’s 2007 sales - $48.3 million - a 30% volume increase!  It is redefining retail 100% 15% 14% 13% 16% 18% 75% 50% 25% 0% Clothing & Soft Homewares Furniture & Hard Beauty & skincare Toys Footwear Homewares © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 9. Are You Connected? THE CHANGING RETAILER UK retailer Primark has +100,000 members in its Facebook group: Primark Appreciation Society! Wal-Mart has also set up an official group Sales will come through these channels ETAILER Eg: Dell selling PCs through Facebook.  Facebook has over 150 million users world wide  Facebook fan pages are an easy way to set up a presence on the platform.  ‘Live’ connection © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 10. The Changing Retailer THE CHANGING RETAILER ETAILER Threadless © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 11. On Line Research is Critical THE CHANGING RETAILER Implication: The physical offer is the tactile experience ‘it needs to be special’ Implication: Physical presence drives off line activity Implication: Implication: Communicate online – It’s not off line or on line seamless multi channel Its ‘Inline’ offer © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 12. THE CHANGING CUSTOMER © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 13. Connected 24/7 THE CHANGING CUSTOMER USTOMER One Large Global Shop - Satisfying customers 24/7 © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 14. Emerging Markets THE CHANGING CUSTOMER From this To this USTOMER The question isn’t whether retail globalisation will happen – it’s when and how Deloitte Global Powers of Retailing 2009 © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 15. Generation Z…. THE CHANGING CUSTOMER Australia’s Gen-Y population: • Internet and mobile ‘natives’ • 26% of the adult population USTOMER • will hold the largest share of the consumer market by 2015 • Our Customers live in a world of instant Source: Y-topia – Capturing Retailers Paradise Jones Lang LaSalle, 2008 © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 16. Customer Loyalty THE CHANGING CUSTOMER  Know me  Inspire me  Be relevant  Be contacted and connected USTOMER  Lead me These are the catch cries of today’s customers  Give me a reason to stay loyal  Create real value for me  Connect with me on all levels, emotional, rational & social  Let me visit and buy 24 / 7 © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 17. The Changing Customer THE CHANGING CUSTOMER Fit retailers recognise the importance of knowing:  Purchase behavior  Frequency USTOMER  Recency  Adjacencies  Time  Price  favorite products  even birthdays & anniversaries  As much relevant personal information as possible © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 18. The Changing Customer THE CHANGING CUSTOMER  Create personal, interactive, engaging experiences  Excite and convey value USTOMER  Know and communicate with me  Make it about me  give me plenty of choice in channel  Tune in to WIIFM 1  Connect me and make it real © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 19. THE CHANGING EXPERIENCE OF RETAIL © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 20. The Changing Customer THE CHANGING EXPERIENCE OF RETAIL It’s all about the environment and the customer experience which creates the difference in the way we operate XPERIENCE James Hagale, CEO Bass Pro Shops 2008 US Retail Innovator of the Year © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 21. Seamlessly Deliver Point of Difference THE CHANGING EXPERIENCE OF RETAIL  Your unique and compelling offer  The experience of retail  What is your story?  Store design and format XPERIENCE  Appealing and relevant  Visual merchandising  Your story by categories  Line of sight  Inspire me, know me and lead me  The connected team member © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 22. THE CHANGING EXPERIENCE OF RETAIL
  • 23. The Changing Customer THE CHANGING EXPERIENCE OF RETAIL Fit retailers create:  engaging experiences  sharply defined  right product XPERIENCE  right time & service The experience is underpinned with independent systems and frameworks © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 24. The Changing Experience of Retail THE CHANGING EXPERIENCE OF RETAIL “Ultimately, we weren’t going to deliver on our business goals until we improved our retail Ron Johnson, Head of Retail - Apple Inc. XPERIENCE © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 25. Summary: THE CHANGING EXPERIENCE OF RETAIL The Changing Retailer The Changing Customer The Evolving Retail Experience www.retaildoctor.com.au © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 26. Conclusion EMERGING RETAIL FITNESS TRENDS  Getting your product to your targeted and connected customer, through your unique proposition  Seamlessly deliver through all the channels ITNESS  Define your market by your customer segment less about where they live  Recognise the world is getting smaller - boundaries are disappearing .  Embrace and integrate the revolution! © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 27. Thank You EMERGING RETAIL FITNESS TRENDS Survival awaits the ‘Fittest’! ITNESS © Copyright 2009. The Retail Doctor® Group Pty Ltd
  • 28. For more information and to see how The Retail Doctor can help you become ‘Fit for Business’ please connect with us. Facebook: www.facebook.com/retaildoctor Twitter: www.twitter.com/retaildoctor LinkedIn: www.linkedin.com/in/brianwalkerretaildoctor Alternatively, you can contact us on the details below: THE RETAIL DOCTOR® GROUP PTY LTD Mailing Address PO Box 209 Milsons Point NSW 2061 Phone | +61 (0)2 9460 2882 Fax | +61 (0)2 9460 3883 E-mail | businessfitness@retaildoctor.com.au Web: | www.retaildoctor.com.au © Copyright 2009. The Retail Doctor® Group Pty Ltd