Retail trends and future disruption 2016
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As presented at 7thingsmedia's Retail, Luxury and Performance Marketing conference in May 2016. 7thingsmedia's Founder & CEO, Chris Bishop, gave an update on the current retail trends and then looked at potential disruption and what is changing the retail sector landscape. The presentation looks at how online and mobile are merely a modernisation of retail. Customers want to be serviced where, when and how they want to be. Convenience is now in the palm of our hands, not within a store but despite the myth that bricks & mortar stores are dead; the high-street is now no longer about convenience - it is about communities, relationships and experience.
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Retail trends and future disruption 2016
- 1. @7thingsmedia @cpbishop #7thingsretail RETAIL TRENDS 2016 Chris Bishop Founder & CEO 7thingsmedia
- 2. @7thingsmedia @cpbishop #7thingsretail 7THINGSMEDIA • Independent digital media agency with offices in London and New York • Offering consultancy and digital media planning and buying (across affiliates, display, mobile, PPC, SEO & social media) • We hire digital channel experts who love what they do… • …and are passionate about performance • Working with some of the coolest brands on the planet! • With international experience and active campaigns across multiple continents
- 4. @7thingsmedia @cpbishop #7thingsretail THOUGHT LEADERSHIP • Global speaker sessions: • Digital Media in the Year 2020 • The Sales Implications of Weather • The Global Push • The Digital Mix & the point of Diminishing Return • The Consumer Search Behaviour • Educating the Next Generation of Digital Marketers • University Guest Lectures • BIMA D-DAY • Partnership with Future Rising • Mentor for The Drum 50 women under 30
- 5. @7thingsmedia @cpbishop #7thingsretail BEST AGENCY 2016 • In April 2016; we were delighted to be crowned the Best Agency at the Performance Marketing Awards • In a highly competitive category, judges praised our • impressive turnover • knowledge of client needs • global initiatives • On the night we were also shortlisted for • Best Paid Social with graziashop.com • Best Travel & Leisure with James Villa Holidays
- 6. @7thingsmedia @cpbishop #7thingsretail …FURTHER HISTORY OF AWARDS • 2015 Awards • Best use of SEO in Retail • Best use of SEO • Best use of PPC • Best cross-channel buy • Grand Prix Award • Performance Marketing Awards • Best in Retail • Best Consumer Targeting • Best Agency (3 times in a row; 2011, 2012 & 2013) • DADI awards • Best use of Affiliate Marketing
- 7. @7thingsmedia @cpbishop #7thingsretail RETAIL TRENDS 2016 Chris Bishop Founder & CEO 7thingsmedia
- 8. @7thingsmedia @cpbishop #7thingsretail RETAIL 2016 • 2016 will continue to show healthy levels of growth • 6.9% growth to £13.7 trillion (from £13.3 trillion) • Brick-and-mortar retail isn’t DEAD • Online will continue to grow - on average by 18.7% in 2016 • Mobile already accounts for 1 in 3 online sales in the US
- 11. @7thingsmedia @cpbishop #7thingsretail OMNI-BOLLOCKS • Not e-retail • Not e-business • Not omni-channel • Not multi-channel • It’s just RETAIL
- 12. @7thingsmedia @cpbishop #7thingsretail RETAIL DISRUPTION • Consumer behaviour • Destination RETAIL • Delivery • Incentives
- 15. @7thingsmedia @cpbishop #7thingsretail CONSUMER BEHAVIOUR • I WANT TO DO MOMENT: Over 100 million hours of “how to” videos have been watched already this year • IS IT WORTH IT MOMENT: 82% of smartphone users turn to their phone to influence a purchase decision while in a store • IN THE MOMENT: "near me" has increased 34X since 2011 • MULTI-DEVICE: Mobile continues to re-shape the customer journey
- 19. @7thingsmedia @cpbishop #7thingsretail DESTINATION RETAIL • Bricks-and-mortar are launching a new offensive • Building a sense on destination and location-based experience • Not just as a means to purchase • Whilst using their greatest asset - physical space • Mobile is bridging the virtual and physical arenas
- 23. @7thingsmedia @cpbishop #7thingsretail DELIVERY • UBER - to become a major logistics player • Amazon citizen deliverymen • Deliveroo, Hello Fresh & AmazonFresh • Volvo’s in-car delivery
- 27. @7thingsmedia @cpbishop #7thingsretail INCENTIVES / OFF PRICE • Around half of female Baby Boomers never pay full price for retail • TJX posted a 25% growth in 2015 • Luxury customers were four times more likely to be searching for deals on Black Friday 2015 than non-luxury customers
- 28. @7thingsmedia @cpbishop #7thingsretail SUMMARY • OMNI-BOLLOCKS: Multi-channel is merely modernisation of retail. Customers want to be serviced where, when and how they want to be • CONVENIENCE: Convenience is now in the palm of our hands, not within a store • STORES ARE NOT DEAD: However, the high-street is no longer convenience - it is about communities, relationship and experience • RETAIL IS EVOLVING: …and truly making the consumer king
- 30. @7thingsmedia @cpbishop #7thingsretail WE’D LOVE TO HEAR FROM YOU • Chris Bishop • Founder & CEO • chris.bishop@7thingsmedia.com • 0207 017 3191 • Sandra McDill • Chief Digital Officer • sandra.mcdill@7thingsmedia.com • 0207 017 3196 • Joe Alexander • Business Development Executive • joe.alexander@7thingsmedia.com • 0207 017 3429