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Agile Retail: Embracing the pace of change

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Today's shoppers exist in a world that moves at an unparalleled and relentless pace. It's time to accept that the store can no longer stand still and, in fact, is never truly “finished.” Brands perceive they can’t afford to experiment when the truth is, they can’t afford not to. Retailers have to be responsive and experimental--that’s agile retail. They have to think like startups and embrace the Silicon Valley approach to 'fail first, fail fast, learn and iterate.’ The good news is technology is emerging to enable agile retail. What’s missing are the tools and processes to disrupt and revolutionize the store design process. In this session, FITCH will debut new methodology that brings agile concepts to the market, present real life examples of current retailers successfully working this model, and show how stores of the future will embrace this change.

Published in: Retail
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Agile Retail: Embracing the pace of change

  1. 1. AGILERETAIL CARLY TYSH ASSOCIATE DESIGN DIRECTOR
  2. 2. #SPECS2017 #FITCHAgileRetail @FITCHdesign @carly_tysh www.slideshare.net/FITCH_design/presentations PLEASE JOIN THE CONVERSATION:
  3. 3. 1: What we mean by AGILE (and what we don’t) 2: Why it matters today 3: From then, to now, to next 4: Who is taking the first AGILE steps? 5: How do the rest of us get there? AGENDA
  4. 4. 1: WHAT WE MEAN BY AGILE (AND WHAT WE DON’T)
  5. 5. If the past few years have been all about experience, we see the next few as being all about agility. AGILE is abuzz in the world of retail.
  6. 6. taking these experiences we create at retail, and making them more adaptable, more responsive and more nimble AGILE is all about Trey Ratcliffe
  7. 7. get used to seeing AGILE bolted to anything that moves, and hearing that agility as a concept is a kind of panacea for all manner of ills Like all “buzz” words
  8. 8. it’s important to clarify our intent around how we are using the term, and specifically in the context of retail In the face of this AGILE epidemic
  9. 9. AGILE RETAIL ISN’T JUST FAST FASHION Although adopting AGILE thinking may well make a retailer faster, and indeed more fashionable
  10. 10. Our definition of AGILE focuses on the “means” and not just the “end” • process • approach • methodology • tools And the influence working in an AGILE way will have on the design, evolution and development of a new generation of physical stores
  11. 11. This idea… of an AGILE methodology was born in the digital world, and now represents that industry’s standard
  12. 12. characterized by short, intense phases of work, frequent reassessment and adaptation - version after version, constantly in beta A way of working…
  13. 13. that applying this AGILE way of thinking and working, will lead us to a new dawn of physical retail It is our belief
  14. 14. A truly quantifiable measure of a retail concept’s potential for success and its long term health as a business proposition That AGILITY will become a benchmark David Trauwin
  15. 15. where physical stores finally move from trying to chase digital… to (re)taking their rightful place at the center of a continuous retail ecosystem And that this will lead us to a future…
  16. 16. 2: WHY AGILE TODAY
  17. 17. We’ve discussed why AGILE thinking is important, but what makes it such a pressing issue today? WHY NOW?
  18. 18. Like most of the changes in our world, the need for AGILE is being driven by emerging and shifting behaviors of next Gen Shoppers Simply put, the audience is demanding it
  19. 19. that Generations Y & Z are underwhelmed with old school retail (cue sudden rush of underutilized selfie walls) We’ve known for a while…
  20. 20. Despite their spending $600 billion per year in the US, retail today is “under-delivering against millennials’expectations…the capabilities and enriched services that help make the overall shopping experience better, faster and more memorable—remain works in progress.” Source: Accenture MillennialOutlook GenY has been raising Red Flags for years Source: Forbes, What Brands needs to know about the Millennial ShoppingJourney, August 2015 “Millennialsare incredibly fast in their shopping journey, any brand wishing to attract millennial buyers and influence their purchases needs to keep pace.”
  21. 21. Source: Things Millennials Love & Hate, Business Insider, October2015 “Traditional retail simply doesn’t play to how Millennialswant to buy” GenY has been raising Red Flags for years Source: Retention Science, March, 2015 “The biggest problem traditional retailers face today is Millennials”
  22. 22. Loosely defined as today’s 7-21 year olds, a group FITCH describes as “Shopping in a constant state of partial attention” And right behind GenY is GenZ Source: FITCH GenZ report, 2014
  23. 23. Because they live their lives at an increasingly frenetic pace, driven by nothing short of a new definition of time - mobile time The biggest reason for AGILE for Y & Z?
  24. 24. for every year physical retail takes to do something new, mobile has already reinvented itself 7 times over (at the very least) Which is like dog years vs human years
  25. 25. WHAT’S LIFE LIKE IN MOBILE TIME?
  26. 26. 9 out of 10 Zs multi-task while watching TV (and only 1% are influencedby ads) Source: Forrester’s Technographics®, How To Build Your Brand with Generation Z, 2013 What’s life like in mobile time? Source: Pew Research, Generation Z study, 2015 Almost two thirds would rather their wallet was stolen than their phone Source: FITCH GenZ study, 2015 88% have a phone, 73% have phones that are smart
  27. 27. Screens and connections are a natural extension of their being, unrestrained by the boundaries of time 91% of Zs take devices to bed And they are comfortable toggling across up to 5 screens, always connected across their netweave of collaborators Source: Sparks & Honey, Generation Z 2025 - The Final Generation Gen Z loses interest quicker than any other generation, with a given attention span identified at only 8 seconds Source: National Centerfor Biotechnology, US National Library of Medicine, The AssociatedPress, 2015 What’s life like in mobile time?
  28. 28. is less than the attention span of this guy Which bizarrely enough…
  29. 29. is a shopper that is literally “addicted to distraction” A group for whom the thrill of the new and the next are the only things that matter Consumers who are rewriting the rules of demand And therefore, by proxy, the rules of supply Retail’s new reality Source: New York Times, November, 2015 TheRealMStiles
  30. 30. to a MARKET BASED ON SPEED From an idea like “speed to market”
  31. 31. GOOD ENOUGH, NEW, NOW.
  32. 32. of perfectly planned in-store campaigns, brainstormed months in advance and flawlessly executed Gone are the days
  33. 33. and embrace a culture of trying hard, failing fast, picking ourselves up if it doesn’t work and then doing it all over again We need to move up a gear… Wieden&Kennedy
  34. 34. LAUNCH, IMPROVE, REPEAT. A cycle of continuous improvement, and don’t forget…
  35. 35. LAUNCH, IMPROVE, REPEAT. INVOLVE,
  36. 36. is the inability to grasp this shift. And it’s potentially fueling an even bigger threat just around the corner… One of the biggest threats to retail today
  37. 37. a perfect storm of change, sparked by circumstances out of your control and lurking on the horizon Wholesale disruption of retail as we know it
  38. 38. is already reinventing retail, and we are just getting started. Widespread category disruption
  39. 39. WHY ARE DISRUPTIVE BRANDS SO SCARY?
  40. 40. Uber world’slargesttaxi company,ownsno vehicles Facebook world’smostpopularmedia owner,creates no content Alibaba mostvaluable retailer,hasno inventory Airbnb world’slargestaccommodationprovider, owns no real estate Source: Tom Goodwin
  41. 41. Amazon Google Uber Apple Snap Facebook Netflix Twilio Chobani Spotify Alibaba Tencent Xiaomi BBK Electronics Huawei Dalian Wanda Airbnb BuzzFeed Open Whisper Illumination Entertainment IBM Vivint Smart Home Slack Glossier Kenzo Source: Fast Company’ “Most Innovative Companies of 2017”
  42. 42. How many of these began their lives through traditional bricks and mortar retail?
  43. 43. Amazon Google Uber Apple Snap Facebook Netflix Twilio Chobani Spotify Alibaba Tencent Xiaomi BBK Electronics Huawei Dalian Wanda Airbnb BuzzFeed Open Whisper Illumination Entertainment IBM Vivint Smart Home Slack Glossier Kenzo Source: Fast Company’ “Most Innovative Companies of 2017”
  44. 44. How many of these are turning traditional retail on its head today?
  45. 45. Amazon Google Uber Apple Snap Facebook Netflix Twilio Chobani Spotify Alibaba Tencent Xiaomi BBK Electronics Huawei Dalian Wanda Airbnb BuzzFeed Open Whisper Illumination Entertainment IBM Vivint Smart Home Slack Glossier Kenzo Source: Fast Company’ “Most Innovative Companies of 2017”
  46. 46. AGILE THINKING IS PROTECTION AGAINST DISRUPTION
  47. 47. the simple reality of today, is that we can’t afford not to We used to say we can’t afford to work like that…
  48. 48. 3: FROM THEN, TO NOW, TO NEXT.
  49. 49. let’s consider the lifecycle of traditional retail, which has been in place pretty much since the birth of retail design… Against our new reality
  50. 50. Jeremy Schultz which we built out of things called bricks and a thing called mortar and which we repeated about every 3-7 years That lifecycle centered on stores
  51. 51. The cadence of this cycle was driven by… • the type of retailer we were • the category of retail we operated in • whether someone else like us came along with something new and bright and shiny which scared the pants off us and forced us to act
  52. 52. We began work on something called a new prototype. When we were happy with it, we built it. Then kicked the tires. Then value engineered it. Once we decided to make a move
  53. 53. Would we roll the prototype out. A process which would take years to accomplish. And in the interim, we pretty much left the concept alone. Then. And only then. PMRPhotography
  54. 54. performing something at some point in the lifecycle we used to call a refresh…which was rarely refreshing Except occasionally…
  55. 55. - the retail equivalent of a store design spit wash, and more often than not about as effective… Or, frankly, even fresh
  56. 56. There are numerous problems with this approach… 1: It’s a long tail 2: Resource intensive (and the procurement of those resources is a part of why retail is so slow) 3: Inherently unresponsive 4: Doesn’t anticipate changing shopper behaviors 5: Lack of integration with new/emerging channels
  57. 57. it’s also repetitive, and predictably so - the antithesis of the surprise and delight which retail was always supposed to be about… If that wasn’t enough Yui Sotozaki
  58. 58. With a perceived rate of change at retail that feels GLACIAL compared to the daily lives of our next generation of shoppers Which is where we are today
  59. 59. 1: It’s a long tail 2: Resource intensive 3: Inherently unresponsive 4: Doesn’t anticipate changing shopper behaviors 5: Lack of integration with new/emerging channels A decade ago, none of these things seemed to matter that much…
  60. 60. 1: It’s a long tail 2: Resource intensive 3: Inherently unresponsive 4: Doesn’t anticipate changing shopper behaviors 5: Lack of integration with new/emerging channels Today, they are the only things that matter
  61. 61. the vast majority of retailers are still in some form of this cycle, and physical retail is still stuck in its own mud And yet, despite all the pitfalls
  62. 62. Painted into a corner by an entire industry built around the old model • bulk orders and mass production • production brokerage focused on lowest price over flexibility • off shore procurement and manufacturing • long-term locked contracts • change fees and delay penalties All of which fuels an environmentof rigidity - the opposite of agility - again, despite the evidence of the dangers of a bored shopper…
  63. 63. The results are clear… N o v / Dec F o o t T r af f i c 40 Billion Visits 30 20 10 Source: The Wall Street Journal, 2014 2010 2011 2012 2013 16.7 billion
  64. 64. N o v / Dec F o o t T r af f i c 40 Billion Visits 30 20 10 Source: The Wall Street Journal, 2015 2010 2011 2012 2013 2014 -9.5% The results are clear…
  65. 65. N o v / Dec F o o t T r af f i c 40 Billion Visits 30 20 10 Source: The Wall Street Journal, 2016 2010 2011 2012 2013 2014 2015 -6.4% The results are clear…
  66. 66. And this trend continues… 2016 Holiday sales at brick-and-mortar chains fell 10%, while traffic declined 12% Source: Wall Street Journal, source RetailNext
  67. 67. In years past we blamed the weather Perhaps it’s time to face up to reality and recognize the real reasons people are staying home
  68. 68. to make things fun again, and to get collective bottoms off of collective sofas and back into stores… And that it’s going to take some new thinking
  69. 69. 4: WHO IS BEGINNING THE REVOLUTION?
  70. 70. A traditional retailer which adopted AGILE thinking with the advent of their CEO Brian Cornell in 2014 Target
  71. 71. Which presented a sharp contrast to the pace of change able to happen in Target’s chain Cornell was inspired by a trip to Story
  72. 72. New merchandise development with a faster cadence to the way product is launched in store (including - rather cleverly - a capsule line with Story) A series of initiatives Fortune
  73. 73. Where the brand fast tracks testing of a host of new ideas in real time, with real customers Living Lab Stores Fortune
  74. 74. Repurposing an underperforming space in San Francisco to introduce customers to all things IoT in an approachable and engaging way. Open House Re/code
  75. 75. Translating learnings from a one-of-a-kind concept out to an experimental space within the store’s fleet Connected Living A Bullseye View
  76. 76. A collaboration between Target, IDEO, and MIT, looking at how to create a future of complete transparency in what we eat in terms of nutrition and freshness. Food + Future coLab A Bullseye View
  77. 77. but, strategically, a continued evolution for us to think about what physical shopping is like when you blur the lines between experience and digital” “A gift to our guests, Jeff Jones, Chief MarketingOfficer, Target
  78. 78. But in different ways and for different things… Other retailers use labs Lowe’sInnovationLabs
  79. 79. Imagines future store experiences and tools for customers like this Holoroom where you can preview room settings designed in store Lowe’s Innovation Lab Lowe’sInnovationLabs
  80. 80. iPad Augmented Reality with Oculus VR which creates the walkthrough in store which you then upload to your smartphone The concept combines Lowe’sInnovationLabs
  81. 81. Through Google Cardboard, a great way to extend the purchase journey beyond the 4 walls, available in 19 stores across the U.S. beginning in November 2015 And take home Lowe’sInnovationLabs
  82. 82. Led to the development of Holoroom How-To, extending the VR platform to bring confidence to customers in basic DIY skills Learnings from Holoroom Lowe’sInnovationLabs
  83. 83. Of a host of ideas the Innovation Labs are piloting. Bringing new ways of thinking and selling into the physical environment. Holoroom is just one Lowe’sInnovationLabs
  84. 84. Launched in late 2013, Nordstrom continues to surprise and delight guests with a continuous rotation of under-the-radar brands. Pop-In @ Nordstrom Allure
  85. 85. Nordstrom’s The Lab, which provides a platform of exposure- both in store and online- for young emerging designers. Which paved the way for LA Times
  86. 86. The launch of their Beauty T.I.P. Workshop brings a tech-driven hub for group classes, leveraging the brands services and category expertise. Sephora Innovation Lab Dexigner
  87. 87. SPACE10 is space launched in 2015 to explore the future of products for the home, products IKEA will develop and then sell. And then there’s IKEA IKEA
  88. 88. Is exciting because it showcases innovation in a very public way, and involved customers in shaping the future of the brand SPACE10 IKEA
  89. 89. They let you test new ideas with lower risk and investment, and in theory they can pivot faster than the entire chain Labs are a great idea in principle IKEA
  90. 90. But there are still challenges • layers of prototyping, tweaking, testing and approvals • often an inherently artificial (or limited) environment • no true metrics - certainly not in the way that agile thinking outside of our industry defines metrics…
  91. 91. We believe the adoptionof AGILE proposes something more ambitious than lab stores Something bigger and bolder
  92. 92. RETAIL IN A STATE OF PERPETUAL BETA
  93. 93. 5: HOW DO WE LIGHT THE FIRE?
  94. 94. At FITCH it became apparent that in order to work in an AGILE way it wasn’t just the client that was going to need to change, it was us.
  95. 95. 1 The typical process today Sequential, phase based, and in the digital industry, referred to as waterfall methodology
  96. 96. 1 One step runs into the next Also known as a “baton pass” process
  97. 97. is the same, you can’t move on from one phase of work until you have completed the one prior… And the principle
  98. 98. With new principles and new activities We recognized the need for a new process
  99. 99. So how do we do it? These are just some of the ways in which we are adapting our thinking to creating AGILE retail for our clients. Sprint Cycles New Measurement & Analytics Rapid Prototyping Road Mapping
  100. 100. LAUNCH, IMPROVE, REPEAT. Adopting these principles under the umbrella approach of
  101. 101. New Activities: Sprint Cycles What if instead of a single brief for a store of the future, our clients hired us for 10 mini briefs, or 20 micro briefs? And what if, because of their size, we were able to execute these briefs in record time? Manifesting themselves in store in weeks not months or years. Briefs which are ideally authored together
  102. 102. 1
  103. 103. 1
  104. 104. New Activities: Measurement& Analytics Real time research live and in-store. Ongoing and iterative. New tools to allow us to track and monitor customer behavior and respond rapidly.
  105. 105. New Activities: Measurement& Analytics
  106. 106. New Activities: Rapid Prototyping The goal is to develop concepts that we can get into stores faster than ever before. And to ask ourselves: “How finished does something need to be before we can begin gathering data on it?” And, if we challenge ourselves, can we actually start to test things much, much earlier?
  107. 107. And finally: Road Mapping Once concepts are identified as a “go” what would be the fastest way to bring them to market. And how could we prioritize? Time Investment ROI (best guess) New resources or skills From here we develop our road map for execution
  108. 108. 6: IN CONCLUSION
  109. 109. that AGILE should move to the front of the conversation, that the very DNA of a brand itself should be mutable, fluid, liquid and adaptable There are those that say…
  110. 110. has demonstrated our belief that AGILE is key to the future of business in our world, we don’t agree that it applies to everything While we hope that today
  111. 111. become chaotic and lose their purpose. And the people that interact with them forget the reasons they ever fell in love with them in the first place Brands in constant flux OskarKorczak
  112. 112. We see the brand as a rock that our world flows around. It’s just that the river is flowing a great deal faster these days… In stark contrast
  113. 113. Further down the chain from the brand? THIS is where the true mutability needs to exist… and retail has been, is and always will be the perfect place to showcase our AGILITY Where we lost our way was when retail became stale. Formulaic. Driven by the realities of bulk pricing and mass orders… Retail is all about embracing trends and creating environments which can shape shift on a dime… After all that’s where we started…
  114. 114. “Salesmanship, showmanship, call it what you will. Every week there must be something special, something new” Jack Cohen, founder, TESCO
  115. 115. “If the rate of change on the outside exceeds the rate of change on the inside, the end is near” Jack Welch
  116. 116. FROM SPEED TO MARKET TO A MARKET BASED ON SPEED
  117. 117. THANKS FOR LISTENING… #SPECS2017 #FITCHAgileRetail @FITCHdesign @carly_tysh www.slideshare.net/FITCH_design/presentations Carly.Tysh@fitch.com

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