Innovation in Retail Technology

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Guest speaker at “Innovation and Entrepreneurship in Retailing”, the annual Dublin Business School & Lidl Retail Management Conference in March 2013.

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Innovation in Retail Technology

  1. 1. Innovation in RetailTechnologyWinning Business in the UKAislinn Mahon, Enterprise Ireland UKDBS and LIDL Retail ConferenceMarch 14th2013
  2. 2. Overview• Background• Enterprise Ireland• The UK Retail Industry• The Retailer Ready Programme• Innovation in Irish Retail Technology
  3. 3. Background
  4. 4. Enterprise IrelandEnterprise Ireland is the government organisationresponsible for the development and growth ofIrish enterprises in world markets“Where innovation means business”•EXPORTS and JOBS•30 offices around the globe in key export markets− Enterprise Ireland UK
  5. 5. Enterprise Ireland Client Exports by Territory 2011
  6. 6. New Market Entrants Team• “High Potential Start Ups” (98 new HPSU’s to UK each year!)• Sustainable market entry strategy Assessing in-market opportunities Identifying routes to market Identifying potential customers and competition Influencer/buyer introductions• NOTE – it is not an extension of home market• Cross sector
  7. 7. The UK Retail Industry• Market value +1.8% to £300.7bn in 2013(Verdict Retail)• Challenged high street spending• Value Retailers, Mid Market & Upper End
  8. 8. Online, Mobile and Multichannel
  9. 9. eCommerce and Multichannel Development“Those with a good multichannel offering will have an advantageespecially with the increase in tablets – portable retail experience isgoing to be the next big thing”Global B2C eCommerce market is valued at €825bn (approx. £720bn) in 2012•£78bn (approx. €89bn) – UK online retail market 2012 V €3.7bn spent by onlineshoppers in Ireland (Sources: IMRG, Retail Excellence Ireland)•Shopping through mobile devices continued to grow in 2012− 300% growth of mobile commerce− 20% of UK online sales made through mobile devices (including tablets)− 80% of smartphone and tablet owners use their devices while watching TV
  10. 10. eTail at the Embassy
  11. 11. A Highly Competitive Market for Vendors• Top 100 online-retailersdominate• Fewer than 500 with onlinerevenues greater than £5m• Complicated landscape -dozens of interlinkedtechnologies• Hundreds of inbound enquiriesper day!• Industry gorillas dominateVery CompetitiveNeed to prepare before“Retailer Ready”
  12. 12. The Retailer Ready Programme
  13. 13. Programme TimelineCollect and AnalyseWeeks 1 to 4Market Entry StrategyWeeks 5 to 7• The competition• Your company and value• Influencers and partners• UK retailers andsegmentation• Which segments have youchosen?• Why are they a good fit?• Which one target retailer?• The Perfect Pitch
  14. 14. The Retailer ReadyPanel
  15. 15. Innovation in Irish Retail Technology• Delivery as a Competitive Advantage• Instore Engagement and Virtual Inventory• The Instore Mobile Experience
  16. 16. Delivery as a Competitive Advantage• Customer: Convenience, speed, low cost• Retailer: Reduce cart abandonment and cost of failed deliveries (£851m)
  17. 17. Instore Engagement and Virtual Inventory• Customer: Choice and a interactive, fun shopping experience• Retailer: Offer full product range in bricks and mortar stores
  18. 18. The Instore Mobile Experience• Customer: Price match, no queues, instant payment, choice• Retailer: Quicker buying decisions, better customer service“Showrooming - 57% of customers said that a price matchof the item would have persuaded them to purchase theproduct/brand instore”
  19. 19. SummaryIrish technology companies can help retailersto deliver innovation, improve the customerexperience, and gain competitiveadvantage
  20. 20. Sign up to our websitewww.retailer-solutions.comFollow @retailer_sol and@EI_amahon for updates

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