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  • 1. Retail 4.0 – the Fundoo caseMarch 20, 2013 joeri@fundoo.eu sven@fundoo.eu @joeridewaele @sven_dewaele @fundooshop
  • 2. Joeri De Waele – background FUN DOO ▪ Managing partner at Fundoo (February 2012) ▪ Engagement manager and consultant at McKinsey & Company (2008-12) ▪ Brand manager at Unilever (2005-08) ▪ McKinsey MBA ‘08 ▪ Civil engineer electromechanics (2005) ▪ Industrial engineer (2002) 2
  • 3. Sven De Waele – background FUN DOO ▪ Managing partner at Fundoo (February 2012) ▪ Partner at Doe Het Zelf mét De Waele former Fundoo (2005-12) ▪ Consultant at Altran Europe (2001-04) ▪ FT International MBA aan Vlerick (2005) ▪ Master in Industrial management (2004) ▪ Civil engineer computer science (2001) 3
  • 4. Topics of today 1. Who is Fundoo 2. Overview on how Fundoo sees retail 4.0 3. Best practices and typical pitfalls of retail 4.0 4
  • 5. WHO IS FUNDOO ?Fundoo, launched in September 2012 is the overarching brand name forfun, outdoor and DIY e-tail shops Fundoo shops todayFundoo’s ▪ Benelux e-tailer launched inmission 2012“Fundoo believes Zwembadstore.be Tuinhuisstore.bethat everyone Zwembadplanet.nl ▪ Started as single siteearns it to create zwembadstore.small and big be in ‘09moments in its Trampolineplanet.be Strooizoutstore.befree time. To Trampolinefun.nl ▪ Verticals shop-make this really model likeeasy for you we Quidsi.com,therefore have Barbecueplanet.be Brandhoutstore.be coolblue.commade speciali ▪ Today 13zed shops and vertical sitespersonal advise live, everyunder 1 inspiring Jacuzzistore.be Vuurwerkstore.be Saunastore.be month 1-3roof” additional launched Go-cartstore.be Speelhuisplanet.be ▪ By 2015 +60 sites will be live “Fundoo time start after 5PM!”SOURCE: Fundoo 5
  • 6. WHO IS FUNDOO ?Fundoo has 4 promises guaranteed in on- and offline 1 2 Excellent Quick delivery customer at home or use service online/ collect & go for offline & pick up expertise 3 4 Need help? Our Online & offline service@ home always there to team at your inspire you! service 6
  • 7. WHO IS FUNDOO ?End of the month a unique experience center “Fundoo Village” will belaunched as extension of the online stores Online and offline seamlessly Fundoo’s offline model covering integrated 3 objectives ▪ Shop-in-shop concept per vertical 1 Touch, feel, and see – give store customers opportunity to connect with their products and inspire them ▪ Dynamic screen panels to shop on the online shop (including payment) 2 Personal advice – get to talk with ▪ High level of shopper experience to expert advisors for your questions touch & try 3 Pick-up point – reserve your products online and pick-up offline “Fundoo Village” = 2000m2 to experience, test and get adviceSOURCE: Fundoo, Retail Office 7
  • 8. WHO IS FUNDOO ?The on- and offline Fundoo experience will be seamlessly integrated ▪ Shop will be foreseen with digital shopping desks ▪ A specific offline platform developed on the online interface ▪ Brand style offline fully in line with online “Fundoo Village” = digtal interaction = interactive screens, kiosks, QR codes,...SOURCE: Fundoo, Retail Office 8
  • 9. Topics of today 1. Who is Fundoo 2. Overview on how Fundoo sees retail 4.0 3. Best practices and typical pitfalls of retail 4.0 9
  • 10. WHAT IS RETAIL 4.0?Retail 4.0 is the new way of shopping in an omni-channel environment 3 2 4 Retail 4.0 Retail 3.0 1 Retail 2.0 Omni-channel: online = offline Retail 1.0 ▪ Begin 20th ▪ ~1950 ▪ ~’1995 ▪ Now century ▪ First retailers ▪ Opening of ▪ First modern e- ▪ Best practices with self service hypermarkets eg. commerce: still in Tesco, Walmart, – Amazon.com development Auchan, … – Ebay – Zappos 10
  • 11. WHAT IS RETAIL 4.0?Today’s shopper only thinks and acts multichannelTypical cross-channel scenario Shopper Research Shop/buy Collect Service Re-buy need Browse catalogue Print/ Catalogue/ Buy Buy again online Search Check ▪ In retail 4.0 Online Check order Read features there is no shop/Mobile (mobile) reviews online or offline Check with purchase friends funnel Social Write review G ▪ Customers mix online Collect in Inspect and offline Offline store/ products during at home different stages of Offline with the funnel online integration Call center/ Query customer Query installation service specification instructionsSOURCE: google 11
  • 12. WHAT IS RETAIL 4.0?Consumers using all channels seamlessly are the most Multichannelattractive customersAverage annual expenditure by customers of a US multi-channel player, USD Catalog, store, 887 and internet Catalog and store 608 Internet and store 485 Internet and 446 catalog Catalog 201 +150% Store 195 +354% Internet 157SOURCE: (N)Onliner Atlas 2012; McKinsey analysis 12
  • 13. WHAT IS RETAIL 4.0?Depending on the category, multichannel can be more or less importantSOURCE: Iconsumer EU 13
  • 14. WHAT IS RETAIL 4.0?Multichannel shoppers expect a broader assortment online vs oflineUS example, number of SKU’s online vs offlineSOURCE: McKinsey 14
  • 15. WHAT IS RETAIL 4.0?Transforming to retail 4.0 multichannel model requires teaching asuccesfull athlete new disciplines 15
  • 16. Topics of today 1. Who is Fundoo 2. Overview on how Fundoo sees retail 4.0 3. Best practices and typical pitfalls of retail 4.0 16
  • 17. BEST PRACTICES AND TYPICAL PITFALLSWhat do you think about this one …SOURCE: Cisco 17
  • 18. BEST PRACTICES AND TYPICAL PITFALLSMultichannel best practices are hard to find whilst a lot of theory has beendiscussedSelected examples Examples of multichannel Store Business setup approach ▪ Photo/video e-tailer ▪ Will Launched recently 1 “Polaroid bars” as experience and service center ▪ Grocery retailer ▪ Experimented with “Tesco” 2 virtual walls in train stations ▪ Click and collect model ▪ Electronics e-tailer ▪ Online platform and offline 3 100m2 service points (4 in NL, 2 in BE) ▪ Pure online player ▪ Launch of Amazon lockers 4 ▪ Potential plans for own Amazon offline store for kindle readers ▪ Clothing player ▪ Digital concept store launched 5 Burberry in London ▪ Actually very limited multichannelSOURCE: Fundoo research examples exist in Belgium 18
  • 19. New technologies at source of retail 4.0 Virtual show up of what’s inside the Flexible pricing to react on pure players Lego Box and own online platform Multichannel retail 4.0 Virtual shopping walls to shop with your In – store movies with reviews smart phone offline (coolblue)SOURCE: Fundoo research 19
  • 20. BEST PRACTICES AND TYPICAL RETAIL 4.0 CHALLENGESRetail 4.0 has some tricky pitfalls Issues ▪ How will you use your loyalty points Loyalty online/offline? 1 system ▪ What about the product stock? Keep in Buy offline, offline stock or send to online stock? 2a return online ▪ Who takes the revenue loss? Online or Buy online, offline? 2b return offline Sell online ▪ Who gets the revenue? Online or offline? 3 items in ▪ Who takes the handling cost? offline shop 20
  • 21. BEST PRACTICES AND TYPICAL RETAIL 4.0 CHALLENGESOnce your retail 4.0 model is live it is critical to pull your shopper fromonline to offline…Examples on how to guide your shopper to the offline From the Shopper online Research Shop/buy Collect Service Re-buy need funnel Appointment module – have an appointment Offer relevant extra’s module on your online for offline visits, e.g., Invited site to plan a visit collect and go in store to the and get 10% rebate offline on next online order Special promotions Create experience only available in store events offline – e.g., cooking Offer extra services classes, expert offline, e.g., style demo sessions, … advice (clothing), body measurement (bikes), …SOURCE: Fundoo research 21
  • 22. BEST PRACTICES AND TYPICAL RETAIL 4.0 CHALLENGESBut also from offline to online!Examples on how to guide your shopper to the onlineFrom the Shopperoffline Research Shop/buy Collect Service Re-buy needfunnel Extended product info – push shoppers to online Reviews – foresee a to give more info Receipt – put online review processInvited promotion on the online for offlineto the receipt, e.g., 5EUR buyersonline rebate on product and online promo code PRO123 Collect email address – even if a customer bought offline connect with him for future offersSOURCE: Fundoo research 22
  • 23. BEST PRACTICES AND TYPICAL RETAIL 4.0 PITFALLS10 golden retail 4.0 rules 1 Strategy – decide on your online/offline channel strategy 2 Online and offline look and feel should be closely in line with brand perception 3 Assortment – customers expect to find a broader range of products online vs. offline and make sure you can order online in your store! 4 Price – a completely synchronized pricing would be most convenient for retailers, but is hard to achieve 5 Service – bring the same customer service online and offline (e.g., live chat vs. talking to a sales employee) 6 Logistics and systems – online and offline systems seamlessly integrated e.g., buy online, return offline 7 Product return rates – offline often negligible, for e-commerce one of the key cost drivers 8 Traffic – invite your customer from online to offline and vice versa 9 Loyalty – set up a cross-channel loyalty system 10 Organization – multichannel requires a new organisation – you cannot just add online or offlineSOURCE: Fundoo research 23
  • 24. BEST PRACTICES AND TYPICAL RETAIL 4.0 PITFALLSAnd lastly … #11 Make sure you visit the Fundoo site and Fundoo village @fundooshop @joeridewaele @sven_dewaele 24