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Generous Brands	
  
Serious Business of Play	
  
Joy of Shopping	
  
GenZ
Retail’s New Reality	
  
Experience Signatures	
  
Must Sees	
  
Quarterly trend reports	
  
Kantar Retail/PWC Retail 2020
Where we got our thinking:
 
#FITCHRetail2020
@FITCHdesign	
  
@cdaviesFITCH
Join the discussion
Retail will change more in the
next 5 years than the last 50
The fundamentals of what a store
“is” (its purpose and its function)
are in flux.
This change is not just driven by
economic, product or industry
trends (although they remain an influence).
Rather, tomorrow’s store is being
shaped by new behaviors, needs
and demands of shoppers.
In 5 short years…X Y Z
By 2020, Xers will be enjoying
the fruits of the peak-earnings
decade of their careers.
While quietly freaking out about
their ill-planned retirement.
By 2020, Millennials will no longer
be the kids in your store.
In fact, they are more
likely to be shopping
for their kids.
Retail today is “under-delivering
against millenials’ expectations.”
Source:	
  Accenture	
  Millenial	
  Outlook,	
  2013
The brands thriving in 2020 will
clearly have solved this challenge.
Happy Millennial
Because lack of engagement with
a group this big is not optional
Net effect of
bored Millennials
GenZ will be the newbies, but
collectively they are retail’s future.
By 2020, they will be the largest
group of shoppers worldwide.
And their behaviors will represent
our collective norm.
FITCH describes GenZ as
“shopping in a constant state of
partial attention”.
Source:	
  FITCH	
  Gen	
  Z	
  Future	
  of	
  Shopping	
  Report,	
  2014
Success at retail in 2020 will only
be achieved by embracing this
somewhat challenging idea.
So, what will this world look like?
We see 6 trends for retail’s future
1Retail’s role in society will
change significantly by 2020.
On every level:
Macro Micro
Global and societal issues Local and community issues
Both millenials and GenZ believe
strongly in the importance of
good citizenship.
78%	
  would	
  recommend	
  a	
  company	
  seen	
  as	
  such	
  
74%	
  would	
  be	
  proud	
  to	
  be	
  associated	
  with	
  it	
  	
  
71%	
  say	
  they	
  would	
  be	
  loyal	
  to	
  such	
  a	
  business.
Source:	
  MSL	
  Future	
  of	
  Business	
  Citizenship	
  Report,	
  2014
On a Macro level this trend will
influence the products and services
retail brands choose to provide.
Example:	
  CVS
It will drive the way we present
those products in our stores.
Example:	
  Original	
  Unverpackt
And will even lead to decisions
around the types of stores
we decide to build.
Example:	
  Walgreens
It will push us to continue to
explore how the act of buying
can be a force for good.
Example:	
  Toms
And to explore the part that retail
can play to truly make a difference
On a Micro level stores won’t just
be located in communities they
will be woven into their fabric.
Example:	
  CityTarget
”On average, CityTargets generate
double the sales per square foot of
larger Target stores.” Source:	
  USA	
  Today,	
  2015
This is indeed the new Seattle, the
post-WaMu Seattle. Here, on Second
and Union, you have the feeling that
downtown is beginning to rise.
The Seattle Stranger, August 2012
Example:	
  CityTarget
“Our stores are integral parts of
the neighborhoods we
are joining”	
  
N e i l 	
   B l u m e nt h a l , 	
   C o -­‐ C h i e f 	
   E xe c u t i v e , 	
   Wa r b y 	
   Pa r ke r 	
  
IKEA
Hire local
Incentivize employees to ride to work
Employee housing
Promise to improve the site they develop
Generous Brands
Wearing your heart on your sleeve…
In a world where consumers are becoming increasingly aware of
‘mean’ brands it was time to begin researching the concept of
generosity.
Generous brands are those who show more of a heartbeat, take
the first step and display a genuine understanding of their
customer needs.
This is a long way from 2 for 1 deals and bonus points, but rather a
tone of voice and general personality that encourages consumers
to warm to their offer and become advocates.
By 2020…
We believe shoppers will
absolutely want to know what
retailers care about.
How will acting as a “generous
brand” define the future
for stores?
Stores in 2020 will take
many forms.
And ideas like “one size fits
all” will seem archaic.2
“Retailers will have to rethink their
scalable ―one size fits all approach.
Any retail strategy must include a plan
to fit the ever-diverging needs of the
US shopper.”
Source:	
  Kantar	
  Retail/PWC	
  Retailing	
  2020	
  Report,	
  2014
We predict far fewer retail brands
by 2020. But far more variety.
Two trends:
Format Expression
Offering, footprint,
location, operations
Planned variance across
the estate
Starbucks.
2008
Militant consistency
Corporate driven messaging
1 look, 1 format
Mass production of product and service.
2008
8% drop in sales
Stock plummeted more than 50%
1,000+ Corporate layoffs
Shuttered 600 stores
2015
Exploring new formats
Empowering their people
Dialogue with their guests
Passionate commitment to causes
Format Strategy:Drive Through
Express
Urban
Suburban
Premium (Reserve)
Format Strategy: MUJI
5 formats, one city
Format Strategy: Lawsons
Not driven by products, operations
or location, but by people and
niche needs.
Happy Lawson – moms and kids
Lawson Plus – elderly
Natural Lawson – health conscious
Expression Strategy:
“The Catalog”
Operational efficiency across
format types, but everything
else has changed.
What will this combination mean
by 2020?
Format Expression
?
No two alike.
By 2020…
We believe the concept of
“engineered diversity” won’t just
be the norm, it will be mandatory.
The only question will be: what
formats, forms and expressions
make the most sense?
3The ways in which we
speak to shoppers will
shift dramatically.
By 2020, absolute transparency
will be table stakes.
Only 5% of consumers in the
US & UK currently believe big
businesses are being
transparent enough.
Source:	
  Cohn	
  &	
  Wolfe	
  Oct,	
  2013
“By 2020, apps will proactively inform a shopper
regarding specific issues with products or retailers upon
entering brick-and-mortar stores or websites.
Managing and manipulating information (rumor control),
will be more of an issue than ever as flash truth reports
are distributed more frequently.
Brand management by 2020 will need to develop a host
of new skills, tools, and communication modes, both
nimble and innovative, than are typical today.”
Source:	
  Kantar	
  Retail/PWC	
  Retailing	
  2020	
  Report,	
  2014
A differentiated voice will be
critically important.
But retail brands will also be
more tight lipped.
everything’s coming up
spring
$50 everyday
liz claiborne handbag
$12 february
women’s gold toe sock 6-pack
$18-$20 everyday
misses’ bisou bisou swimwear
$75 everyday
men’s nike shoes
$17 everyday
juniors’ arizona shirt
$12 february
men’s st. john’s bay polo
$15 february
misses’ made for life jacket
$30 february
twin comforter set
$20 everyday
juniors’ olsenboye blouse
$130 everyday
rachael ray 10-pc. cookware set
$14-$20 everyday
floppy hat or thong sandal
$14 everyday
mixit bracelet
$20-$25 everyday
men’s j. ferrar shirt or tie
$4 everyday
home expressions bath towel
$
everything’s coming up
spring
$50 everyday
liz claiborne handbag
$12 february
women’s gold toe sock 6-pack
$18-$20 everyday
misses’ bisou bisou swimwear
$75 everyday
men’s nike shoes
$17 everyday
juniors’ arizona shirt
$12 february
men’s st. john’s bay polo
$15 february
misses’ made for life jacket
$30 february
twin comforter set
$20 everyday
juniors’ olsenboye blouse
$130 everyday
rachael ray 10-pc. cookware set
$14-$20 everyday
floppy hat or thong sandal
$14 everyday
mixit bracelet
$20-$25 everyday
men’s j. ferrar shirt or tie
$4 everyday
home expressions bath towel
everything’s coming up
spring
$50 everyday
liz claiborne handbag
$12 february
women’s gold toe sock 6-pack
$18-$20 everyday
misses’ bisou bisou swimwear
$75 everyday
men’s nike shoes
$17 everyday
juniors’ arizona shirt
$12 february
men’s st. john’s bay polo
$15 february
misses’ made for life jacket
$30 february
twin comforter set
$20 everyday
juniors’ olsenboye blouse
$130 everyday
rachael ray 10-pc. cookware set
$14-$20 everyday
floppy hat or thong sandal
$14 everyday
mixit bracelet
$20-$25 everyday
men’s j. ferrar shirt or tie
$4 everyday
home expressions bath towel
The good news?
Ours won’t be the loudest, or
most important voice at all.
.
Millenials and GenZ want to
create content, not just absorb it.
And 2020 will be all about
dialogue not broadcast
25%
A d v e r t i s i n g
70%
S t r a n g e r s
w i t h
p ro d u c t
e x p e r i e n c e
90%
F r i e n d s w i t h
p ro d u c t
e x p e r i e n c e
Source:	
  Edelman	
  Trust	
  Barometer,	
  2014
Find ways to connect with
the crowd.
And then engage it in-store.
Create destinations for
conversations.
Example:	
  TopShop	
  Chirp	
  Garden,	
  2014
Stop worrying about controlling
the message and embrace that it
can be owned by others
Example:	
  Selfridges	
  #denimlovers
When you do speak in-store, keep
it simple - Millenials already over-
index on “tuning out noise”.
Example:	
  Primark
Great visual is a draw for them
because it signals inspiration.
So let the product literally “sing”.
Example:	
  H&M
And they are apathetic to
marketing. Clutter is a turn-off for
them. So keep it ordered.
Example:	
  Uniqlo
Finally, whenever you speak, tell
the real stories behind the
product without needless fluff.
Let other people do your bragging.
And did we mention transparency?
“Leading retailers will be classified by
those that are the best
conversationalists, along with
communicating a secure and self-
confident image to their consumers.”
Source:	
  Kantar	
  Retail/PWC	
  Retailing	
  2020	
  Report,	
  2014
By 2020…
How will this manifest itself in
store?
We see a co-authored narrative
delivered with the impact of a tweet,
the interest of a pin, and the emotional
pull of a post.
Seamless will be an
absolute must.4
Consumer Purchase
But while omnichannel implies
Seamless, the reality can be
anything but.
Seamless is so important because
Millenials and Zs don’t think
“clicks vs bricks.”
We believe that by 2020,
Seamless Interactions “Out Of
Store” will be largely resolved
Because the US shopper is
insanely demanding
And this demand will simply…
Demands like:Internet of things
20-30 billion “always on”
interconnected devices by 2020
Source:	
  Garnett	
  Research,	
  2014
Same day FREE home delivery:
No matter who ends up delivering
And concepts like:
Mobile payment:
Which will seem
like second nature
by 2020
Dominant platforms and
conventions around retail out of
store will have evolved and will
be widely embraced and adopted.
Retail brands en-masse will be
adept at managing and
supporting these channels.
But one problem will still exist
#retailfailWhether retail can bridge the
yawning chasm between “Out Of
Store” and “In”
And whether the store can not just
create “continuity”, but truly pay
off and enhance the OOS activity.
It’s been an interesting month…
Remember this?
Example:	
  Piper	
  Lime
And this? With all the hype and
the backing, why did they fail?
These concepts had the logistics,
infrastructure and tools in place
and the support of backers with
deep pockets.
We believe they lacked continuity
in their in store experience and
that will need to be our biggest
focus in the future.
By 2020…
What percentage of our in-store
media will be dedicated to
driving “continuity”?
How can we finally make the
physical store enhance our OOS
activities?
5By 2020 the entire concept
of convenience and value
will shift.
Convenience for the new guest
will not be defined in traditional
terms of time and ease.
And certainly not in antiquated
ideas like “one-stop” shopping.
We believe the highest currency
for these new consumers will be
RELEVANCE.
89% of millenials want
personalization when they
visit stores, but only 18% see
it from retailers today.
Source:	
  Vibes	
  Marketing	
  Personalization	
  Report,	
  2013
The customer is free interact
with the retailer on their own
terms.
Face to face
Direct/Email
Print
Television
Online
MobileCall Centre
Loyalty
E-commerce
Review
Advice and Support
Search
Social
Bricks and Mortar
Consumer
4
3
1
2
5
1 2
3
Shopper centric path to purchase.
How they want to buy, not how
we want to sell.
A shift from locating products to
locating the best products for me.
Example:	
  Forever21	
  -­‐	
  	
  ClosetSOS,	
  2014
And using technology to bring a
relevant experience in-store.
Example:	
  Klepierre	
  -­‐	
  Inspiration	
  Corridor
A new service paradigm – where
the guest is the focus, not the sale
Example:	
  Bonobos	
  –	
  Guideshops
In 2013, the overwhelming reason
shoppers changed brands was
poor customer service (66%). In
almost every case (88%) the
situation could have been saved,
but wasn’t.
Source:	
  Accenture	
  Global	
  Consumer	
  Pulse	
  Survey,	
  Nov	
  2013
And service empowered by
technology
Example:	
  Virgin	
  –	
  Google	
  Glass	
  partnership
Part of personalization will be
the ability to customize/tailor
more and more products.
Example:	
  Creyate
All, of course, executed in a way
that is wholly seamless.
Example:	
  Creyate
By 2020…
Imagine a 150,000 square foot
store that treats everyone in it as
an individual.
What will it take to get us there?
Experience will
remain king.6
Foot traffic is down.
N o v / D e c F o o t Tr a ff i c
40 Billion Visits
30
20
10
2010 2011 2012 2013
1 7 . 6 B i l l i o n
Source:	
  The	
  Wall	
  Street	
  Journal,	
  2014
The sky is fricking falling.
N o v / D e c F o o t Tr a ff i c
40 Billion Visits
30
20
10
2010 2011 2012 2013
1 7 . 6 B i l l i o n
Source:	
  The	
  Wall	
  Street	
  Journal,	
  2015
2014
There are now less than 50% of
the warm bodies in US retail
stores during the biggest
shopping season of the year than
were there 5 years ago.
How many will there be in our
stores 5 years from now?
Only in stores delivering truly
unique experiences do we see
increased visits and footfalls.
And in-store experiences remain
the absolute best way to engage
and connect with shoppers.
The 19-year commercial Web
experiment has shown; you can't hold
attention for very long, can't offer a
point of view, can't control the
experience, and, in a sense, never
own your audience — at best, it's a
fleeting, utility-like relationship.
Source:	
  Michael	
  Wolff,	
  USA	
  Today,	
  2013
Stores re-imagined around unique,
defensible branded experiences may
well be the biggest change over the
next 5 years.
And tomorrow’s shopper craves these
experiences.
So, what are we waiting for?
The problem? True “experience stores”
are expensive, complicated and difficult
to scale.
Even when you only have 8 of them
Experience Signatures
An Experience Signature is a distinct
collection of brand led moments,
totally unique in combination from
one brand to the next.
A retailer’s Experience Signature lies
at the heart of why we choose one
store over another.
They are the things retailers become
known for.
They are the reasons we come back
for more.
PEOPLE
PLACES
COMMS
TOOLS
EVENTS
SERVICES
WEB
SOCIAL
GUEST
Today, these moments of connection
are often fractured, and only
sporadically effective
PEOPLE
PLACES
COMMS
TOOLS
E V E N T S
SERVICES WEB
SOCIAL
GUEST
In an Experience Signature the
moments of connection are unified,
and brought into harmony
PEOPLE
PLACES
COMMS
TOOLS EVENTS
SERVICES
WEB
SOCIAL
PEOPLE
PLACES
COMMS
TOOLS EVENTS
SERVICES
WEB
SOCIAL
GUEST
PARITY
DUPLICATION
PEOPLE
PLACES
COMMS
TOOLS EVENTS
SERVICES
WEB
SOCIAL
BRAND
DISTINCTION
DIFFERENTIATION
Only with touchpoints in harmony, and
infused with a brand’s DNA, have we
achieved an Experience Signature
A way to express yourself to the
world that feels intuitively right
And which simply couldn’t be
someone else’s
By 2020…
We believe the brands who are
thriving will be the ones who have
crafted the strongest Experience
Signatures.
And are well on the road to redefining
a bright future for physical stores.
If you’d like to know more…
www.fitch.com
www.slideshare.net/FITCH_design
To finish…BONUS LAS VEGAS
THEMED DISCLAIMER!!!!!
No one can predict the future
And listening to data can be dangerous
1977:170
2000: 80,000
# of Elvis impersonators
Time
1977
RIP Elvis
Plot this data trail to its logical
conclusion…
We believe that by 2043…
So again, no one can predict the future
“But equally no-one can afford to be
unprepared for what does arrive.”
Source:(Wa+s(Wacker,(Futurist(
thanks…
www.fitch.com
FITCH thinks of Seamless as a
palette of touchpoints
Physical: The tangible – from objects that can be touched to
settings that can be experienced
Human: Dynamic interactions – with individuals,
employees and social groups
Digital: Electronic Tools – technologies that talk to
everyone, or just talk to me
P
H
D
Exploring
Purchase intent
in the category
Locating
Specific product
or service
Dreaming
No specific
purchase intent
Being inspired
Learning
Having fun
Browse easily
More information
Narrow choices
Easy to find
Useful reminders
Reassurance
PHD/DEL MATRIX
Physical
Digital
Human
Dreaming Exploring Locating
PHD/DEL MATRIX
Physical
Digital
Human
Dreaming Exploring Locating
PHD/DEL MATRIX
Physical
Digital
Human
Dreaming Exploring Locating
PHD/DEL MATRIX
Physical
Digital
Human
Dreaming Exploring Locating
The Holy Grail of Seamless is true
omnichannel retail
multichannel
crosschannel
omnichannel
Shopping using different channels
Several channels, same purchase
Simultaneous use of channels and seamless
delivery between them
To achieve that a Holy Grail we
have to know what it is…
Crosschannel done well or with more finesseOmnichannel is not:
Omnichannel is:
Continuous Retail:
Interconnectedness between touchpoints everywhere
and anywhere
Perceiving all things and creating a true
CONTINUITY of experience

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Retail 2020: Retail Will Change more in the Next 5 Years than the Last 50

  • 1.
  • 2. Generous Brands   Serious Business of Play   Joy of Shopping   GenZ Retail’s New Reality   Experience Signatures   Must Sees   Quarterly trend reports   Kantar Retail/PWC Retail 2020 Where we got our thinking:
  • 4. Retail will change more in the next 5 years than the last 50
  • 5. The fundamentals of what a store “is” (its purpose and its function) are in flux.
  • 6. This change is not just driven by economic, product or industry trends (although they remain an influence).
  • 7. Rather, tomorrow’s store is being shaped by new behaviors, needs and demands of shoppers.
  • 8. In 5 short years…X Y Z
  • 9. By 2020, Xers will be enjoying the fruits of the peak-earnings decade of their careers.
  • 10. While quietly freaking out about their ill-planned retirement.
  • 11. By 2020, Millennials will no longer be the kids in your store.
  • 12. In fact, they are more likely to be shopping for their kids.
  • 13. Retail today is “under-delivering against millenials’ expectations.” Source:  Accenture  Millenial  Outlook,  2013
  • 14. The brands thriving in 2020 will clearly have solved this challenge. Happy Millennial
  • 15. Because lack of engagement with a group this big is not optional Net effect of bored Millennials
  • 16. GenZ will be the newbies, but collectively they are retail’s future.
  • 17. By 2020, they will be the largest group of shoppers worldwide.
  • 18. And their behaviors will represent our collective norm.
  • 19. FITCH describes GenZ as “shopping in a constant state of partial attention”. Source:  FITCH  Gen  Z  Future  of  Shopping  Report,  2014
  • 20. Success at retail in 2020 will only be achieved by embracing this somewhat challenging idea.
  • 21. So, what will this world look like? We see 6 trends for retail’s future
  • 22. 1Retail’s role in society will change significantly by 2020.
  • 23. On every level: Macro Micro Global and societal issues Local and community issues
  • 24. Both millenials and GenZ believe strongly in the importance of good citizenship. 78%  would  recommend  a  company  seen  as  such   74%  would  be  proud  to  be  associated  with  it     71%  say  they  would  be  loyal  to  such  a  business. Source:  MSL  Future  of  Business  Citizenship  Report,  2014
  • 25. On a Macro level this trend will influence the products and services retail brands choose to provide. Example:  CVS
  • 26. It will drive the way we present those products in our stores. Example:  Original  Unverpackt
  • 27. And will even lead to decisions around the types of stores we decide to build. Example:  Walgreens
  • 28. It will push us to continue to explore how the act of buying can be a force for good. Example:  Toms
  • 29. And to explore the part that retail can play to truly make a difference
  • 30.
  • 31. On a Micro level stores won’t just be located in communities they will be woven into their fabric. Example:  CityTarget
  • 32. ”On average, CityTargets generate double the sales per square foot of larger Target stores.” Source:  USA  Today,  2015
  • 33. This is indeed the new Seattle, the post-WaMu Seattle. Here, on Second and Union, you have the feeling that downtown is beginning to rise. The Seattle Stranger, August 2012 Example:  CityTarget
  • 34. “Our stores are integral parts of the neighborhoods we are joining”   N e i l   B l u m e nt h a l ,   C o -­‐ C h i e f   E xe c u t i v e ,   Wa r b y   Pa r ke r  
  • 35. IKEA Hire local Incentivize employees to ride to work Employee housing Promise to improve the site they develop
  • 36.
  • 37.
  • 38. Generous Brands Wearing your heart on your sleeve… In a world where consumers are becoming increasingly aware of ‘mean’ brands it was time to begin researching the concept of generosity. Generous brands are those who show more of a heartbeat, take the first step and display a genuine understanding of their customer needs. This is a long way from 2 for 1 deals and bonus points, but rather a tone of voice and general personality that encourages consumers to warm to their offer and become advocates.
  • 39. By 2020… We believe shoppers will absolutely want to know what retailers care about. How will acting as a “generous brand” define the future for stores?
  • 40. Stores in 2020 will take many forms. And ideas like “one size fits all” will seem archaic.2
  • 41. “Retailers will have to rethink their scalable ―one size fits all approach. Any retail strategy must include a plan to fit the ever-diverging needs of the US shopper.” Source:  Kantar  Retail/PWC  Retailing  2020  Report,  2014
  • 42. We predict far fewer retail brands by 2020. But far more variety.
  • 43. Two trends: Format Expression Offering, footprint, location, operations Planned variance across the estate
  • 45. 2008 Militant consistency Corporate driven messaging 1 look, 1 format Mass production of product and service.
  • 46. 2008 8% drop in sales Stock plummeted more than 50% 1,000+ Corporate layoffs Shuttered 600 stores
  • 47. 2015 Exploring new formats Empowering their people Dialogue with their guests Passionate commitment to causes
  • 49. Format Strategy: MUJI 5 formats, one city
  • 50. Format Strategy: Lawsons Not driven by products, operations or location, but by people and niche needs.
  • 51. Happy Lawson – moms and kids
  • 52. Lawson Plus – elderly
  • 53. Natural Lawson – health conscious
  • 55. Operational efficiency across format types, but everything else has changed.
  • 56. What will this combination mean by 2020? Format Expression ?
  • 58. By 2020… We believe the concept of “engineered diversity” won’t just be the norm, it will be mandatory. The only question will be: what formats, forms and expressions make the most sense?
  • 59. 3The ways in which we speak to shoppers will shift dramatically.
  • 60. By 2020, absolute transparency will be table stakes.
  • 61. Only 5% of consumers in the US & UK currently believe big businesses are being transparent enough. Source:  Cohn  &  Wolfe  Oct,  2013
  • 62. “By 2020, apps will proactively inform a shopper regarding specific issues with products or retailers upon entering brick-and-mortar stores or websites. Managing and manipulating information (rumor control), will be more of an issue than ever as flash truth reports are distributed more frequently. Brand management by 2020 will need to develop a host of new skills, tools, and communication modes, both nimble and innovative, than are typical today.” Source:  Kantar  Retail/PWC  Retailing  2020  Report,  2014
  • 63. A differentiated voice will be critically important.
  • 64. But retail brands will also be more tight lipped.
  • 65. everything’s coming up spring $50 everyday liz claiborne handbag $12 february women’s gold toe sock 6-pack $18-$20 everyday misses’ bisou bisou swimwear $75 everyday men’s nike shoes $17 everyday juniors’ arizona shirt $12 february men’s st. john’s bay polo $15 february misses’ made for life jacket $30 february twin comforter set $20 everyday juniors’ olsenboye blouse $130 everyday rachael ray 10-pc. cookware set $14-$20 everyday floppy hat or thong sandal $14 everyday mixit bracelet $20-$25 everyday men’s j. ferrar shirt or tie $4 everyday home expressions bath towel $ everything’s coming up spring $50 everyday liz claiborne handbag $12 february women’s gold toe sock 6-pack $18-$20 everyday misses’ bisou bisou swimwear $75 everyday men’s nike shoes $17 everyday juniors’ arizona shirt $12 february men’s st. john’s bay polo $15 february misses’ made for life jacket $30 february twin comforter set $20 everyday juniors’ olsenboye blouse $130 everyday rachael ray 10-pc. cookware set $14-$20 everyday floppy hat or thong sandal $14 everyday mixit bracelet $20-$25 everyday men’s j. ferrar shirt or tie $4 everyday home expressions bath towel everything’s coming up spring $50 everyday liz claiborne handbag $12 february women’s gold toe sock 6-pack $18-$20 everyday misses’ bisou bisou swimwear $75 everyday men’s nike shoes $17 everyday juniors’ arizona shirt $12 february men’s st. john’s bay polo $15 february misses’ made for life jacket $30 february twin comforter set $20 everyday juniors’ olsenboye blouse $130 everyday rachael ray 10-pc. cookware set $14-$20 everyday floppy hat or thong sandal $14 everyday mixit bracelet $20-$25 everyday men’s j. ferrar shirt or tie $4 everyday home expressions bath towel The good news? Ours won’t be the loudest, or most important voice at all. .
  • 66. Millenials and GenZ want to create content, not just absorb it.
  • 67. And 2020 will be all about dialogue not broadcast 25% A d v e r t i s i n g 70% S t r a n g e r s w i t h p ro d u c t e x p e r i e n c e 90% F r i e n d s w i t h p ro d u c t e x p e r i e n c e Source:  Edelman  Trust  Barometer,  2014
  • 68. Find ways to connect with the crowd.
  • 69. And then engage it in-store.
  • 70. Create destinations for conversations. Example:  TopShop  Chirp  Garden,  2014
  • 71. Stop worrying about controlling the message and embrace that it can be owned by others Example:  Selfridges  #denimlovers
  • 72. When you do speak in-store, keep it simple - Millenials already over- index on “tuning out noise”. Example:  Primark
  • 73. Great visual is a draw for them because it signals inspiration. So let the product literally “sing”. Example:  H&M
  • 74. And they are apathetic to marketing. Clutter is a turn-off for them. So keep it ordered. Example:  Uniqlo
  • 75.
  • 76.
  • 77. Finally, whenever you speak, tell the real stories behind the product without needless fluff.
  • 78. Let other people do your bragging.
  • 79. And did we mention transparency?
  • 80. “Leading retailers will be classified by those that are the best conversationalists, along with communicating a secure and self- confident image to their consumers.” Source:  Kantar  Retail/PWC  Retailing  2020  Report,  2014
  • 81. By 2020… How will this manifest itself in store? We see a co-authored narrative delivered with the impact of a tweet, the interest of a pin, and the emotional pull of a post.
  • 82. Seamless will be an absolute must.4
  • 83. Consumer Purchase But while omnichannel implies Seamless, the reality can be anything but.
  • 84. Seamless is so important because Millenials and Zs don’t think “clicks vs bricks.”
  • 85. We believe that by 2020, Seamless Interactions “Out Of Store” will be largely resolved
  • 86. Because the US shopper is insanely demanding
  • 87. And this demand will simply…
  • 88. Demands like:Internet of things 20-30 billion “always on” interconnected devices by 2020 Source:  Garnett  Research,  2014
  • 89. Same day FREE home delivery: No matter who ends up delivering
  • 90. And concepts like: Mobile payment: Which will seem like second nature by 2020
  • 91. Dominant platforms and conventions around retail out of store will have evolved and will be widely embraced and adopted. Retail brands en-masse will be adept at managing and supporting these channels. But one problem will still exist
  • 92. #retailfailWhether retail can bridge the yawning chasm between “Out Of Store” and “In”
  • 93. And whether the store can not just create “continuity”, but truly pay off and enhance the OOS activity.
  • 94. It’s been an interesting month… Remember this?
  • 95. Example:  Piper  Lime And this? With all the hype and the backing, why did they fail?
  • 96. These concepts had the logistics, infrastructure and tools in place and the support of backers with deep pockets. We believe they lacked continuity in their in store experience and that will need to be our biggest focus in the future.
  • 97. By 2020… What percentage of our in-store media will be dedicated to driving “continuity”? How can we finally make the physical store enhance our OOS activities?
  • 98. 5By 2020 the entire concept of convenience and value will shift.
  • 99. Convenience for the new guest will not be defined in traditional terms of time and ease.
  • 100. And certainly not in antiquated ideas like “one-stop” shopping.
  • 101. We believe the highest currency for these new consumers will be RELEVANCE.
  • 102. 89% of millenials want personalization when they visit stores, but only 18% see it from retailers today. Source:  Vibes  Marketing  Personalization  Report,  2013
  • 103. The customer is free interact with the retailer on their own terms. Face to face Direct/Email Print Television Online MobileCall Centre Loyalty E-commerce Review Advice and Support Search Social Bricks and Mortar Consumer 4 3 1 2 5 1 2 3 Shopper centric path to purchase. How they want to buy, not how we want to sell.
  • 104. A shift from locating products to locating the best products for me. Example:  Forever21  -­‐    ClosetSOS,  2014
  • 105. And using technology to bring a relevant experience in-store. Example:  Klepierre  -­‐  Inspiration  Corridor
  • 106. A new service paradigm – where the guest is the focus, not the sale Example:  Bonobos  –  Guideshops
  • 107. In 2013, the overwhelming reason shoppers changed brands was poor customer service (66%). In almost every case (88%) the situation could have been saved, but wasn’t. Source:  Accenture  Global  Consumer  Pulse  Survey,  Nov  2013
  • 108. And service empowered by technology Example:  Virgin  –  Google  Glass  partnership
  • 109. Part of personalization will be the ability to customize/tailor more and more products. Example:  Creyate
  • 110.
  • 111. All, of course, executed in a way that is wholly seamless. Example:  Creyate
  • 112. By 2020… Imagine a 150,000 square foot store that treats everyone in it as an individual. What will it take to get us there?
  • 114. Foot traffic is down. N o v / D e c F o o t Tr a ff i c 40 Billion Visits 30 20 10 2010 2011 2012 2013 1 7 . 6 B i l l i o n Source:  The  Wall  Street  Journal,  2014
  • 115. The sky is fricking falling. N o v / D e c F o o t Tr a ff i c 40 Billion Visits 30 20 10 2010 2011 2012 2013 1 7 . 6 B i l l i o n Source:  The  Wall  Street  Journal,  2015 2014
  • 116. There are now less than 50% of the warm bodies in US retail stores during the biggest shopping season of the year than were there 5 years ago. How many will there be in our stores 5 years from now?
  • 117. Only in stores delivering truly unique experiences do we see increased visits and footfalls.
  • 118. And in-store experiences remain the absolute best way to engage and connect with shoppers.
  • 119. The 19-year commercial Web experiment has shown; you can't hold attention for very long, can't offer a point of view, can't control the experience, and, in a sense, never own your audience — at best, it's a fleeting, utility-like relationship. Source:  Michael  Wolff,  USA  Today,  2013
  • 120. Stores re-imagined around unique, defensible branded experiences may well be the biggest change over the next 5 years. And tomorrow’s shopper craves these experiences.
  • 121. So, what are we waiting for?
  • 122. The problem? True “experience stores” are expensive, complicated and difficult to scale.
  • 123. Even when you only have 8 of them
  • 125. An Experience Signature is a distinct collection of brand led moments, totally unique in combination from one brand to the next.
  • 126. A retailer’s Experience Signature lies at the heart of why we choose one store over another. They are the things retailers become known for. They are the reasons we come back for more.
  • 128. Today, these moments of connection are often fractured, and only sporadically effective
  • 129. PEOPLE PLACES COMMS TOOLS E V E N T S SERVICES WEB SOCIAL GUEST
  • 130. In an Experience Signature the moments of connection are unified, and brought into harmony
  • 133. PARITY
  • 138. Only with touchpoints in harmony, and infused with a brand’s DNA, have we achieved an Experience Signature
  • 139. A way to express yourself to the world that feels intuitively right
  • 140. And which simply couldn’t be someone else’s
  • 141. By 2020… We believe the brands who are thriving will be the ones who have crafted the strongest Experience Signatures. And are well on the road to redefining a bright future for physical stores.
  • 142. If you’d like to know more… www.fitch.com www.slideshare.net/FITCH_design
  • 143. To finish…BONUS LAS VEGAS THEMED DISCLAIMER!!!!!
  • 144. No one can predict the future
  • 145. And listening to data can be dangerous
  • 148. # of Elvis impersonators Time 1977 RIP Elvis Plot this data trail to its logical conclusion…
  • 149. We believe that by 2043…
  • 150. So again, no one can predict the future
  • 151. “But equally no-one can afford to be unprepared for what does arrive.” Source:(Wa+s(Wacker,(Futurist(
  • 153. FITCH thinks of Seamless as a palette of touchpoints Physical: The tangible – from objects that can be touched to settings that can be experienced Human: Dynamic interactions – with individuals, employees and social groups Digital: Electronic Tools – technologies that talk to everyone, or just talk to me P H D
  • 154. Exploring Purchase intent in the category Locating Specific product or service Dreaming No specific purchase intent Being inspired Learning Having fun Browse easily More information Narrow choices Easy to find Useful reminders Reassurance
  • 159. The Holy Grail of Seamless is true omnichannel retail multichannel crosschannel omnichannel Shopping using different channels Several channels, same purchase Simultaneous use of channels and seamless delivery between them
  • 160. To achieve that a Holy Grail we have to know what it is… Crosschannel done well or with more finesseOmnichannel is not: Omnichannel is: Continuous Retail: Interconnectedness between touchpoints everywhere and anywhere Perceiving all things and creating a true CONTINUITY of experience