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Confessions of a Shopaholic:How Digital Connectivity has Changed the               Shopper       Dx3 Canada – Toronto, ON ...
FIRST A FEW STATS
85%Have access to the internet
95%when under the age of 55
31%Own a smartphone
46%of those aged 18-34 own one
75%Of Consumers say that Mobile  improves their shopping        experience
67%A store associate with amobile device creates a   better experience.
33%of mobile users who compareprices in store will make their  final purchase elsewhere.
62%Browsed an online Social  Network last week
90%  of consumers trust theproduct recommendation of   someone they know.
70%Trust someone they   don’t know.
81%of respondents had received shopping advice through a      social network.
74% claimed that this adviceinfluenced their decision.
98%0f shoppers have researched a       purchase online
54%  of retail purchases areinfluenced by the internet
WHAT HAS CHANGED?
Access to Data
Digital Commerce
EMFX-Commerce
Mobility
Social
Cloud
Cloud
The Cloud―The computer industry is the only industry thatis more fashion-driven than womens fashion.Maybe Im an idiot, but...
A LITTLE CONSUMERBEHAVIOUR
Time Spent Online
Changing Habits
Traditional Purchase Funnel
Purchase Decision Process
The Loyalty Loop            Harvard Business Review -            2010
David Edelman - McKinsey            & Co.
Information Overload Prod uct Search    Ret ailer W eb sit es   Prod uct Review W eb sit esBarcod e Scanners   Brand W eb ...
Omnichannel
The Digital Shopper          ➜Better informed          ➜Savvy          ➜High Expectations          ➜Busy          ➜Well Ed...
The Digital Shopper➜Affluent➜Loyal➜Pre-qualified➜Pre-sold/Ready to buy➜Spends more➜Likes shopping to be easy
Shopper Expectations          ➜Easily find products           online          ➜Product details          ➜Specifications   ...
Shopper Expectations
of   40attributes - including Price and       Brand Perception
The Gap in thinking   Consumer reasons         Our perceived reasons            61% Discount    New product info 73%      ...
The Gap in thinking   Consumer reasons         Our perceived reasons            61% Discount    New product info 73%      ...
How Digital is your Industry?                                       Books   Fashion   GroceryPRICEPrices often lower onlin...
How Digital is your Industry?                                     Books   Fashion   GroceryCONVINIENCEResearch and informa...
How Digital is your Industry?INDUSTRY                       TOTALBooks                               54Fashion            ...
TOOLS TO WIN INTHE DIGITAL WORLD
The Must Have’s➜SEO➜SEM➜Social➜Mobile➜eCommerce
Savvy as Online Shoppers➜Launch an eCommerce website➜Make your site mobile-ready➜Publish you product feed to multiple shop...
Launch an eCommerce Site➜Get your products online➜Keep it accurate & current➜Offer lots of product details➜Add user review...
Enable Microformats
Be Mobile Ready➜Your site needs to work in Mobile➜Don’t use flash or java➜Focus on usability➜Must load quickly➜Integrate w...
Publish a Product Feed➜A product feed is a file containing information about the product list on an e- commerce website  ➜...
Get Social➜Listen➜Plan➜Build➜Engage  ➜Content  ➜Contesting  ➜Advertising➜Drive Traffic➜Measure
A QUICK LOOK FORWARD
Ian S. CruickshankChief Revenue Officer, Wishpond        @ian_Cruickshankca.linkedin.com/in/iancruickshankOr just call me ...
Confessions of a shopaholic   dx3 - mar 6,13 pdf
Confessions of a shopaholic   dx3 - mar 6,13 pdf
Confessions of a shopaholic   dx3 - mar 6,13 pdf
Confessions of a shopaholic   dx3 - mar 6,13 pdf
Confessions of a shopaholic   dx3 - mar 6,13 pdf
Confessions of a shopaholic   dx3 - mar 6,13 pdf
Confessions of a shopaholic   dx3 - mar 6,13 pdf
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Confessions of a shopaholic dx3 - mar 6,13 pdf

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Confessions of a Shopaholic: How Digital Connectivity has Changed the Shopper

Presented at Dx3 Canada in Toronto ON, March 6th, 2013

The term “shopaholic” used to be associated with images of someone out of a Sophie Kinsella book parading through a mall overburdened by shopping bags and a desire to try on as many outfits as they could over a 9 hour period. Well, things have changed. Armed with pre-shop research, mobile intelligence, virtual dressing rooms and deal locators, the new shopaholic is a different kind of shopper.

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Confessions of a shopaholic dx3 - mar 6,13 pdf

  1. 1. Confessions of a Shopaholic:How Digital Connectivity has Changed the Shopper Dx3 Canada – Toronto, ON March 6th, 2013 Presented by: Ian S. Cruickshank
  2. 2. FIRST A FEW STATS
  3. 3. 85%Have access to the internet
  4. 4. 95%when under the age of 55
  5. 5. 31%Own a smartphone
  6. 6. 46%of those aged 18-34 own one
  7. 7. 75%Of Consumers say that Mobile improves their shopping experience
  8. 8. 67%A store associate with amobile device creates a better experience.
  9. 9. 33%of mobile users who compareprices in store will make their final purchase elsewhere.
  10. 10. 62%Browsed an online Social Network last week
  11. 11. 90% of consumers trust theproduct recommendation of someone they know.
  12. 12. 70%Trust someone they don’t know.
  13. 13. 81%of respondents had received shopping advice through a social network.
  14. 14. 74% claimed that this adviceinfluenced their decision.
  15. 15. 98%0f shoppers have researched a purchase online
  16. 16. 54% of retail purchases areinfluenced by the internet
  17. 17. WHAT HAS CHANGED?
  18. 18. Access to Data
  19. 19. Digital Commerce
  20. 20. EMFX-Commerce
  21. 21. Mobility
  22. 22. Social
  23. 23. Cloud
  24. 24. Cloud
  25. 25. The Cloud―The computer industry is the only industry thatis more fashion-driven than womens fashion.Maybe Im an idiot, but I have no idea whatanyone is talking about.What is it? Its complete gibberish. Its insane.When is this idiocy going to stop?‖ Larry Ellison, CEO Oracle Corporation
  26. 26. A LITTLE CONSUMERBEHAVIOUR
  27. 27. Time Spent Online
  28. 28. Changing Habits
  29. 29. Traditional Purchase Funnel
  30. 30. Purchase Decision Process
  31. 31. The Loyalty Loop Harvard Business Review - 2010
David Edelman - McKinsey & Co.
  32. 32. Information Overload Prod uct Search Ret ailer W eb sit es Prod uct Review W eb sit esBarcod e Scanners Brand W eb sit es Business Review W eb sit es
  33. 33. Omnichannel
  34. 34. The Digital Shopper ➜Better informed ➜Savvy ➜High Expectations ➜Busy ➜Well Educated ➜Online regularly ➜Active in Social
  35. 35. The Digital Shopper➜Affluent➜Loyal➜Pre-qualified➜Pre-sold/Ready to buy➜Spends more➜Likes shopping to be easy
  36. 36. Shopper Expectations ➜Easily find products online ➜Product details ➜Specifications ➜Images ➜Descriptions ➜Objective reviews ➜Stock availability
  37. 37. Shopper Expectations
  38. 38. of 40attributes - including Price and Brand Perception
  39. 39. The Gap in thinking Consumer reasons Our perceived reasons 61% Discount New product info 73% 55% Purchase General info 71% 53% Reviews Submit opinion 69% 53% General Info Exclusive Info 68% 52% Exclusive Info Reviews 67% 51% New product info Feel connected 64% 49% Submit opinion 37% Customer service Customer service 63% 34% Event Participation Submit product ideas 63% 33% Feel Connected Part of a community 61%30% Submit product ideas Purchase 60% 22% Part of a Community Discount 60%
  40. 40. The Gap in thinking Consumer reasons Our perceived reasons 61% Discount New product info 73% 55% Purchase General info 71% 53% Reviews Submit opinion 69% 53% General Info Exclusive Info 68% 52% Exclusive Info Reviews 67% 51% New product info Feel connected 64% 49% Submit opinion 37% Customer service Customer service 63% 34% Event Participation Submit product ideas 63% 33% Feel Connected Part of a community 61%30% Submit product ideas Purchase 60% 22% Part of a Community Discount 60%
  41. 41. How Digital is your Industry? Books Fashion GroceryPRICEPrices often lower online 5 3 1Digitized products create lower cost 5 1 1Value of price comparison 5 3 2SELECTIONValue of broad selection 5 4 3Value of customization 2 3 1Searches in stores often futile 4 3 2
  42. 42. How Digital is your Industry? Books Fashion GroceryCONVINIENCEResearch and information intensity 5 3 2Web tools trump store experience 4 2 2Ease of delivery and returns 5 3 1TRUSTReliability of product description 5 2 2Frustration in stores 4 4 2Trust online retailers 5 3 1
  43. 43. How Digital is your Industry?INDUSTRY TOTALBooks 54Fashion 34Grocery 20 So what about your business?
  44. 44. TOOLS TO WIN INTHE DIGITAL WORLD
  45. 45. The Must Have’s➜SEO➜SEM➜Social➜Mobile➜eCommerce
  46. 46. Savvy as Online Shoppers➜Launch an eCommerce website➜Make your site mobile-ready➜Publish you product feed to multiple shopping engines➜Measure Everything—Usage, Fans, Engagement, Popularity➜Deliver exceptional service—It’s your online reputation
  47. 47. Launch an eCommerce Site➜Get your products online➜Keep it accurate & current➜Offer lots of product details➜Add user reviews➜Offer stock inventory details➜Enable microformats➜Offer online purchase, offline pickup➜Run online-only promotions
  48. 48. Enable Microformats
  49. 49. Be Mobile Ready➜Your site needs to work in Mobile➜Don’t use flash or java➜Focus on usability➜Must load quickly➜Integrate with native functions (maps, phone, email)
  50. 50. Publish a Product Feed➜A product feed is a file containing information about the product list on an e- commerce website ➜Search Engines ➜Affiliate Website ➜Shopping Comparison ➜Marketplaces
  51. 51. Get Social➜Listen➜Plan➜Build➜Engage ➜Content ➜Contesting ➜Advertising➜Drive Traffic➜Measure
  52. 52. A QUICK LOOK FORWARD
  53. 53. Ian S. CruickshankChief Revenue Officer, Wishpond @ian_Cruickshankca.linkedin.com/in/iancruickshankOr just call me 1.778.997.9474

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