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Future Retail 2011

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A clear vision on the future of retail

A clear vision on the future of retail

Published in: Business, Education

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  • Transcript

    • 1. THE FUTURE OF RETAIL 17.06.2011
    • 2. “High expectations are the key to everything”.Sam Walton
    • 3. UNDERSTANDING CONSUMERSPENDING POWER
    • 4. created by mind, designed by heart
    • 5. UNDERSTANDINGCONSUMERSPENDING POWERTo understand what moves a consumeryou have to think and act like one.
    • 6. motive orientation need brand(s) want proposition occasion channels impulse price service location consumer moments of truthproduct experience store experience store mechanics enjoying the product visual merchandising using the product product giving the product service service promotions other
    • 7. motive orientation need brand(s) want proposition occasion channels impulse price service location consumer moments of truthproduct experience store experience store mechanics enjoying the product visual merchandising using the product product giving the product service service promotions other
    • 8. motive orientation need brand(s) want proposition occasion channels impulse price service location consumer moments of truthproduct experience store experience store mechanics enjoying the product visual merchandising using the product product giving the product service service promotions other
    • 9. motive orientation need brand(s) want proposition occasion channels impulse price service location consumer moments of truthproduct experience store experience store mechanics enjoying the product visual merchandising using the product product giving the product service service promotions other
    • 10. motive orientation need brand(s) want proposition occasion channels impulse price service location consumer moments of truth store experienceproduct experience store mechanics enjoying the product visual merchandising using the product product giving the product service service promotions other
    • 11. motive orientation need brand(s) want proposition occasion channels impulse price service location consumer moments of truth store experienceproduct experience store mechanics enjoying the product visual merchandising using the product product giving the product service service promotions other
    • 12. motive orientation need brand(s) want proposition occasion channels impulse price service location consumer moments of truthproduct experience store experience store mechanics enjoying the product visual merchandising using the product product giving the product service service promotions other
    • 13. motive orientation need brand(s) want proposition occasion channels impulse price service location consumer moments of truthproduct experience store experience store mechanics enjoying the product visual merchandising using the product product giving the product service service promotions other
    • 14. Driven by technology, the web, communities and the searchfor ever-richer experiences, the world of shopping isundergoing a sweeping transformation.
    • 15. So let’s think less about real estate, prices, sales per squaremeter and online stores and start thinking about the entireworld as a store; one in which we can easily make instantpurchases regardless of time and place.
    • 16. • consumers
    • 17. motive orientation need brand(s) want proposition occasion channels impulse price service location consumer moments of truthproduct experience store experience store mechanics enjoying the product visual merchandising using the product product giving the product service service promotions other
    • 18. MOTIVEConsumers are in controlThey decide what to buy, where to buy it, when to buy it andhow much they want to pay for it.Stores will be everywhere, everything will be availableto buy and everyone will be involved in the sale.
    • 19. Imagine taking a picture of a pair of shoes, looking themup on the internet, getting them shipped the next day,trying them on in front of the mirror, taking a picture ofthem and sharing them with all your friends.
    • 20. MOTIVEConsumers are in charge.buy anything, anytime, anywhereThey decide what to buy, where to buy it, when to buy it andhow much they want to pay for it.
    • 21. motive orientation need brand(s) want proposition occasion channels impulse price service location consumer moments of truthproduct experience store experience store mechanics enjoying the product visual merchandising using the product product giving the product service service promotions other
    • 22. ORIENTATIONHow will we shop tomorrow?Where will we go for advice and where will we buy?What service will we expect to receive?
    • 23. Retailers become brands
    • 24. ORIENTATIONRetailers become brandsWhy do we love them?We can build a relationship.Consumers tend to distinguish themselves through brands.Brands that stand for a certain lifestyle, quality, way of thinking or status.
    • 25. status
    • 26. ORIENTATIONPropositionRetailers make promises.Promises to inform consumers what they can expect from them.However... future propositions will be determined by consumers.The best proposition is the one consumers give to you.You can adjust it, but they have the power (internet, social media) tocreate a buzz you can never achieve on your own.
    • 27. proposition
    • 28. ORIENTATIONChannelsRetailers have much more opportunities to communicate with(potential) consumers.The only way to control your own message is to do this integrated.One message, various channels(store/website/webstore/social media/forum)
    • 29. Multichannel. The entire world is a display.
    • 30. ORIENTATIONPre-view shoppingSome consumers do shopping research from behind the pc, othersdo research in stores.Retailers and brands need to be prepared to accommodate both.And even more important...different products categories require different approaches.
    • 31. webstoreinform before you go
    • 32. on-line assistanceask questions
    • 33. google placesvisit before you go
    • 34. what other people sayiens.nl -restaurant reviews
    • 35. ORIENTATIONService is the new sellingFor consumers, time, convenience, control and independence are the newcurrencies.This need requires retailers to turn many of their campaigns if not allinteractions with their customers into broader services.A shift from broadcasting to ‘assisting’.
    • 36. It’s more effective and efficient to sell more to your existing customersthen to keep hunting for new customers.
    • 37. From broadcasting to assisting.
    • 38. On-line personal shopping assistentwww.trunkclub.com
    • 39. Selling the consumers idealLet customers imagine their ideal vacations by describing their desires interms of location, activities, length of stay and price. A network of approvedtravel agents can react by offering customized trip itineraries around thecustomer’s parameters.
    • 40. motive orientation need brand(s) want proposition occasion channels impulse price service location consumer moments of truth store experienceproduct experience store mechanics enjoying the product visual merchandising using the product product giving the product service service promotions other
    • 41. STORE EXPERIENCEEvery store a flagship storeGive customers a reason to visit the store for reasons other thanmaking a purchase.• Treat customer visits as an opportunity to tell the story of the brand• Enable shoppers to discover new products• Create an environment in which customers are encouraged to try products• Treat the retail space as an educational environment, enhancing the pre- and post-purchase experience
    • 42. Extension of the brand - Apple store
    • 43. Extension of the brand - Apple storeClean designed interiors focus on developing a deeperconnection with customers through hands-on experiences and one-on-one interactions at the genius bar with staff members.
    • 44. Discover all our products - Free Record ShopCreate a digital database on-line in stores which enablecustomers to browse through over 300.000 products.Not in store? Then order on screen and get delivered at home within 24h.
    • 45. Retail space becomes family entertainment hub - Disney StoreGet children excited about going to their stores by providing brandedactivities and content that encourage families to remain inside the storeslonger or visit more often.
    • 46. Fascinating cultural centre - National Geographic storeA not-to-be-missed travel destination and shopping hub.Offers a totally new experience that entertains and inspires at the same
    • 47. STORE EXPERIENCEComplementary CurationRetailers are augmenting their core offerings by bringing other relevantbrands and services into their stores.• Feature likeminded brands alongside your own to create a perception about your brand.• Introduce complementary services to enhance your customer’s experience and providing additional reasons for them to interact.
    • 48. America Today - American candy and soft drinks
    • 49. STORE EXPERIENCETablet enabled experienceLeverage technology within the retail environment to provide customizedexperiences for shoppers based on their particular needs• Staff are freed from cash desk to interact with customers and transactions.• Provide staff with the tools to easily access information within stores.• Give staff an easy way to access previous shopping data purchases.• Transparency by letting customers watch transactions on screen such as inventory searches and checkout.
    • 50. Mercedes-Benz - Dealers use Ipad on sales floorThe tablets will provide salespeople with instant access to marketing programsfor specific vehicle models, clear overview of available accessories andincreased speed and efficiency on the return of lease vehicles.
    • 51. STORE EXPERIENCEModular interiorsTreat store fronts and interiors like stage sets, providing the opportunityto continually reinvent the shopping experience• Use store displays as a means of highlighting collaborations that enhance brand perception and allow brands to share a point of view.• Implement a flexible interior to allow the introduction of entertainment experiences into the retail environment.• Retailers that don’t have a flexible retail space can consider a pop-up space in which their customers can test, trial, and be entertained.
    • 52. Pop-up store - Nike LondonFeatures 12 modular, wheeled units that resemble tiered stadium bleachers.The benches can be used for seating during events or arranged to create multi-level table-top displays for merchandise.
    • 53. Pop-up store - IllyBringing that ‘Illy’ feeling to the customer.
    • 54. STORE EXPERIENCEMobile storesAreas of the local community could benefit from a mobile service offering.• Provide customers with a feeling of excitement and exclusivity by notifying them about new retail locations on a consistent basis.• Deliver unique experiences based on a particular location or event.• Engage your customers on their turf.• Utilize a mobile retail presence as an extension of your physical space to offer a curated, relevant selection of products and services
    • 55. Go Burger Mobile Store - New YorkThe Go Burger Truck drives on the streets of Manhattan as a means ofpromoting the food at its soon to open chain of restaurants by the same name.The truck operates around the city seven days a week, tweeting its location tocustomers who are fans of haute burgers, hot dogs, fries and shakes.
    • 56. STORE EXPERIENCEShow and shareSocial networks and connected instore appliances enable shoppers to receivereal-time feedback from friends and like-minded fans.• Add wireless internet access to the store, enabling customers to share information with their network that is validating their purchase.• Include social networking into your retail site, allow sharing.• Provide the tools for consumers to capture and share pictures and experiences in the retail environment.
    • 57. Store camera connects to Facebook - Diesel store
    • 58. Go try it on communityAsk online community for advice
    • 59. Share - over 3 million people like it
    • 60. motive orientation need brand(s) want proposition occasion channels impulse price service location consumer moments of truthproduct experience store experience store mechanics enjoying the product visual merchandising using the product product giving the product service service promotions other
    • 61. PRODUCT EXPERIENCEKeeping customers closeMost important thing for the future is building a long lasting relationshipwith your customers.As said before...It’s harder to gain new customers then to keep the old ones.
    • 62. PRODUCT EXPERIENCEKeeping customers closeAfter the purchase we have to stay in touch with our customers.• Give them a platform to review and share (positive or negative).• Give them a reason to come back to your store (on- and off-line).• Innovate your products to tell them something new.• Create new user moments.• Cross and upsell like crazy.• Create brand friends.• Always avoid discussions with customers. Remember, they have the power.
    • 63. customer platformshare experience, review and interact
    • 64. Reason to come backSears VIP night family and friends
    • 65. Innovate your productsAlways something new to tell
    • 66. Create new user momentsAlways something new to tell
    • 67. Cross- and upsellpurchase more, upgrade, consume!
    • 68. Create and stimulate brand friendsthe best ambassadors ever
    • 69. Customer is kingnever argue with a customer
    • 70. KEY FINDINGS• Increased access to the mobile web is freeing the retail experience from the confines of the physical and traditional online environment, allowing shopping to take place virtually anywhere.• Creating a flexible in-store environment through design, product offerings and promotions, ensures that each visit will feel like a brand new experience.
    • 71. KEY FINDINGS• In a connected world where access to information is fluid and transparency is the expectation, retailers must actively take part in the conversation, otherwise their customers will do so without them.• Physical stores still provide the best means to communicate with customers and offer a brand experience.
    • 72. In the new customer-centric approach to retail, retailersneed to continually find ways to lower barriers to purchaseand be prepared to make a sale whenever and wherever acustomer is ready...
    • 73. UNDERSTANDING CONSUMERSPENDING POWER