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Retail's 9th Annual BIG Breakfast Presentations
- 1. Welcome to… RETAIL’S 9TH ANNUAL BIG BREAKFAST PROUDLY SPONSORED BY THE PRESENTATION WILL GET UNDERWAY AT APPROX. 7:30AM AEST
- 2. Please take your seats PROUDLY SPONSORED BY RETAIL’S 9TH ANNUAL BIG BREAKFAST IS ABOUT TO START…
- 3. PROUDLY SPONSORED BY RetailOasis acknowledges the Gadigal People of the Eora Nation as the traditional owners of the land upon which our event is taking place today. We pay our respect to Elders past, present, and emerging, and we extend that respect to Aboriginal and Torres Strait Islander people here today.
- 4. PROUDLY SPONSORED BY Welcome! Steve Kulmar CEO & FOUNDER OF RETAILOASIS
- 5. PROUDLY SPONSORED BY Erica Berchtold CEO AT THE ICONIC
- 6. Erica Berchtold FUTURE OF PUREPLAYS
- 9. 1. Platform
- 10. 2. App first
- 11. 3. Scalability
- 12. Exciting things to come
- 13. Metaverse Runway
- 14. The shifting sands of retail
- 16. PROUDLY SPONSORED BY Trent Rigby CO-DIRECTOR OF RETAILOASIS
- 17. TODAY’S JUST THE SUMMARY, WANT MORE INFO? WHAT WERE SOME OF THE KEY THEMES FROM THE NRF BIG SHOW GOING INTO ’23? HOW DID WE SEE THEM PLAYING OUT IN-STORE?
- 18. 3 DAYS, 35,000 RETAIL PROFESSIONALS, 950 VENDORS AND 100 SESSIONS FROM 90 COUNTRIES.
- 19. 5 DAYS, VISITING +150 OF NEW YORK’S BEST RETAILERS.
- 20. What is the next evolution of experiential in-store retail? Resale and preowned as a strategy to increase in-store foot traf fi c? How does in-store experiential translate online to / creating digital fl agship experiences? Recession? Soft-landing? The outlook for ’23 might be something in between. Retailers are getting back to basics in ’23, and bricks and mortar retail is making a comeback. Staf fi ng is expected to remain a signi fi cant challenge throughout ’23. Machine learning and AI are in for ’23. Crypto, Metaverse and Web 3.0 / the new internet are out? TODAY
- 21. THE NEXT EVOLUTION OF EXPERIENTIAL IS ‘LOCALISED EXPERIENCES’ “Think broader than just a single ‘experience’… you need to be tailoring the experience to an individual store level”.
- 22. CAMP
- 23. CAMP
- 24. STARBUCKS RESERVE EMPIRE STATE BUILDING
- 25. STARBUCKS RESERVE EMPIRE STATE BUILDING
- 28. RESALE AND PREOWNED THE KEY TO INCREASING IN-STORE FOOT TRAFFIC? “It’s now not a question of WILL retailers provide second-hand options to consumers, it’s a question of WHEN”.
- 29. *THIS IS A $6B BUSINESS
- 30. That’s x7 forecasted growth across a 3 year period. $30B (NOW) $218B (BY 2026) USD $ forecasted industry performance Source: WD Partners, 2023
- 31. Consumer propensity and desire to shop resale / preowned (across all retail categories) 48.3% 51.4% 48.8% 18 - 29 years old (Gen Z) 30 - 44 years old (Gen Y / Millennials) And the customer is older than you think. 45 - 60 years old (Gen X + Boomers) Source: WD Partners, 2023
- 32. Why do consumers want to shop used products / resale? Category Axis Price / Discount Interesting and unique merchandise (can’t get elsewhere) It’s fun / I enjoy it Help the environment / sustainability Most of my friends are doing it All of the above 10% 30% 30% 34% 47% 74% Source: WD Partners, 2023
- 33. GOLDEN GOOSE FORWARD STORE
- 34. GOLDEN GOOSE FORWARD STORE
- 35. CAPSULE
- 36. CAPSULE
- 37. SOME OTHER HONOURABLE MENTIONS IN NYC…
- 38. STARBUCKS PICKUP WITH AMAZON GO
- 39. TREA+
- 40. SOLANA SPACES
- 42. TODAY’S JUST THE SUMMARY, WANT MORE INFO? WHAT IS THE NEXT EVOLUTION OF EXPERIENTIAL RETAIL? - CAMP. - STARBUCKS RESERVE EMPIRE STATE BUILDING. - KRISPY KREME FLAGSHIP. RESALE AND PREOWNED AS A STRATEGY TO INCREASE IN-STORE FOOT TRAFFIC? - GOLDEN GOOSE FORWARD STORE. - CAPSULE. OTHER HONOURABLE MENTIONS. - STARBUCKS PICKUP WITH AMAZON GO. - TREA+. - SOLANA SPACES. - SALVATORE FERRAGAMO.
- 43. PROUDLY SPONSORED BY Hannon Comazze tt o CEO & FOUNDER OF AIRROBE
- 44. WWW.AIRROBE.COM Hannon Comazzetto AirRobe, CEO & Founder
- 48. CIRCULAR FASHION MOVEMENT WWW.AIRROBE.COM
- 49. CIRCULAR FASHION MOVEMENT WWW.AIRROBE.COM 2. The Story 1. The Opportunity 3. The Future
- 50. CIRCULAR FASHION MOVEMENT WWW.AIRROBE.COM A GENERATIONAL SHIFT faster growth in purpose-driven companies compared to competitors 3X growth in shoppers trying to resell their item for the first time in 2022 compared to 2021 4.6X
- 51. CIRCULAR FASHION MOVEMENT WWW.AIRROBE.COM In 5 years, gen Z & millennial cohorts will account for > 50% of fashion spend. A GENERATIONAL SHIFT of consumers shift spend to more sustainable brands 72% of Gen Z consumers consider resale value before making a purchase 80%
- 53. There are enormous tailwinds for the circular economy 1. Sustainability is positioned to be the defining trend of the next 20 years. 2. Huge consumer demands. 3. Regulatory pressures. THE OPPORTUNITY
- 54. WWW.AIRROBE.COM The digitized circular fashion industry alone is a $5.3 trillion opportunity THE OPPORTUNITY
- 55. WWW.AIRROBE.COM The moment a product is sold, everyone loses the digital connection to it and the customer has no digital version of their product. THE OPPORTUNITY: NO DIGITAL INVENTORY CAPTURE MERCHANTS Lose connection to their product, their customer, the ability to monetise post-sale, and loss of data/insights. CONSUMERS Have no digital version of their products, making post-sale and end of life activities cumbersome or impossible.
- 57. A Circular Commerce solution built for merchants AirRobe is world first circular technology that powers recommerce experiences, in one click. Transforms how consumers shop resale Provides brands with a seamless end-to-end circular and resale offering Digital twin of each product WHAT IS AIRROBE
- 58. Partnered with 180+ designer & contemporary brands globally
- 59. BUY-SIDE DESIGN LAYER SCOPE SUPPLY SOURCING MODEL Consumer self listing model Buyback / consignment model Owned Buy-back resale models Partner to facilitate buyback resale OR consignment desk Less reach, more capex, higher control, More reach, less capex, lower control Partner to facilitate Peer-to-peer resell Brands and retailers have a variety of ways to embrace the resale market
- 60. A customers virtual wardrobe, where all their fashion purchases are saved and items are available to resell, rent or recycle in seconds. AIRROBE: CORE OFFERING The Circular Wardrobe
- 61. INTEGRATION Seamless setup with our eCom platform apps (Shopify, Salesforce, BigCommerce, Magento)
- 63. Add to AirRobe OPT-IN Customers opt-in to add their purchases to AirRobe
- 64. Added to AirRobe OPT-IN Customers opt-in to add their purchases to AirRobe
- 65. The widget educates consumers on the Estimated resale value, driving consumers to invest in high quality, higher priced items. RESALE VALUE EDUCATION
- 66. 1-CLICK TO RE- PURPOSE Customers can resell, rent & recycle items at a later date. We handle all logistics
- 67. CIRCULAR FASHION MOVEMENT WWW.AIRROBE.COM A zero touch end-to-end circular offering. Grow sales & access key data insights. Reduce your carbon footprint and improve sustainability. Take a customer-first approach and increase brand loyalty. RETAILER BENEFITS
- 68. CIRCULAR FASHION MOVEMENT WWW.AIRROBE.COM Average order value increase by 20-35% Customer loyalty 2X Acquire Gen Z & Millennial customers THE RESULTS: SALES BOOST
- 69. …But they are in love with this Stella McCartney dress for $600… WITH AIRROBE, THEY KNOW THEY CAN LATER RESELL FOR $350 The total cost of ownership is reduced to $250. EXAMPLE: This shopper is looking to buy a dress with a rough budget of $300… TOTAL COST OF OWNERSHIP
- 71. $100-250m Annual Sales Turnover Global Designer Brand Brand wishing to engage in resale space. Their brand in particular having a really strong presence in resale markets with consumers already. CASE STUDY
- 72. CIRCULAR FASHION MOVEMENT Demonstrating statistically significant unbiased correlation of AirRobe’s impact AB Test where 50% of traffic had AirRobe widget visible versus 50% invisible Controlled AB Test
- 73. CIRCULAR FASHION MOVEMENT WWW.AIRROBE.COM CASE STUDY Global $X00m Designer Brand Controlled AB Test Over the test period 50% of traffic saw the AirRobe widget displayed on product pages and 50% of traffic did not have the AirRobe widget available. The following results summarise a 90-day A/B test conducted with one of AirRobe’s brand partners. Over the test period, neither the brand nor AirRobe mentioned the partnership. So the influence of the AirRobe widget was entirely organic.
- 74. AB AOV UPLIFT OF 13% OPT_IN AOV UPLIFT OF 37% $711.58 THE RESULTS: PDP WIDGET A/B TEST AirRobe Visible + Opted-in $712 AirRobe Visible $587 AirRobe Invisible $521 Average Order Value.
- 76. WWW.AIRROBE.COM Winning in 2023… THE FUTURE
- 77. CIRCULAR FASHION MOVEMENT WWW.AIRROBE.COM THANK YOU HANNON@AIRROBE.COM
- 78. PROUDLY SPONSORED BY Claudia Rossi INSIGHTS DIRECTOR AT AFTERPAY
- 79. Internal Presentation | 2020 | CONFIDENTIAL Claudia Rossi Director, Insights 79 Retail Oasis Keynote March 2023
- 80. Internal Presentation | 2021 | Confidential The Macro- Environment and factors driving change Global impact on businesses New paths to efficiency in- store Afterpay Insights Agenda 80 Gen Z consumer
- 81. Growth is expected to slow Two key factors 81 Transition of fixed-rate mortgages to variable rate Increase in utility bills and economy-wide inflation 1 2
- 82. Discretionary spending will drastically slow for households who have to transition from fixed-rate to variable-rate mortgages 58% households on fixed-rate mortgages will see mortgage payments increase by more than 40% 82
- 83. 83 5 Big tech layoffs barely touch pandemic-era hiring.
- 84. Netflix Twitter Facebook Technology’s role Chart: Financial Review. Source: Genevieve Roch-Decter, CFA 0 10 20 30 40 Instagram ChatGPT Time taken to reach one million users Months 84
- 85. RETAIL SPENDING OVER TIME FOR MILLENNIALS AND GEN Z $BN, AUD 25 15 2030 2016 Millennials and Gen Z peak earning years to come Millennials and Gen Z share of spend 48% We expect Millennials and Gen Z share of discretionary retail spend will increase to 48% by 2030 Gen Z Millennial 85
- 86. Shopping expectations in the next 12 months How much shopping do you think you will do in the next 12 months compared to the last 12 months?; n = 1007 Much more Slightly more About the same Slightly less Much less 5% 23% 50% 19% 3% 5% 22% 50% 20% 3% 3% 8% 62% 22% 5% Gen Z Millennial Gen X 86
- 87. Customers expect a seamless omnichannel experience, with omni consumers having 30% higher lifetime value than those single channel shoppers Shift back to in-store. 87 Gen Z growth in-store Q4 YoY 56%
- 88. 88 10 How can brands reimagine the role of the store.
- 89. 22% 14% 15% 186% 176% 173% 120% 112% 109% Spend Growth 2022 vs 2021 Gen Z Millennial Gen X + Gen Z spend is growing at a faster rate post Covid and within experiential verticals 89 Afterpay Spend YoY growth by category and generation. 2022 vs 2021 Total Travel Gen Z Millennial Gen X + Entertainment & Experiences Gen Z Millennial Gen X +
- 90. 90 12 The last best experience a consumer ever had, becomes the minimum experience they want everywhere.
- 92. Consumer iQ Knowing consumers better than they know themselves 92 Demographics Who They Are Region Lifestage Income Home Type Engagement How They Interact Promo Email Unsubscribe F2F App Reason App Propensity Pulse Shopping How They Shop Store Segment SMB Orders / GPV Velocity Payments How They Pay Present Value Future Value Lifetime Value
- 94. Thank you.
- 95. PROUDLY SPONSORED BY Paul Greenberg CHAIR OF NORA + VICE CHAIR OF FIRA
- 96. PROUDLY SPONSORED BY Steve Kulmar CEO & FOUNDER OF RETAILOASIS
- 99. Source: ABS and Roy Morgan, population 14+. Year of birth definitions Builders (1925 - 1945), Baby Boomers (1946 - 1964), Generation X (1965 - 1979), Generation Y (1980 - 1994), Generation Z (1995 - 2010) and Generation Alpha (2011 - 2025). 99 2013 2016 2019 2022 2025 2028 2031 61% 57% 53% 49% 44% 39% 34% 39% 43% 47% 51% 56% 61% 66% % volume Digital Immigrants (Gen X, Boomers, Pre-Boomers) % volume Digital Natives (Gen Y, Gen Z, Alpha) WE ARE HERE 2023 THE TIPPING POINT IS HERE ("DIGITAL NATIVES” OVERTAKE “DIGITAL IMMIGRANTS”) 2027 GEN Z OVERTAKE MILLENNIALS TO BECOME THE LEADING GENERATION 5 YEAR RUNWAY NEXT 5 YEARS DIGITAL NATIVES WILL OVERTAKE DIGITAL IMMIGRANTS THIS YEAR
- 100. 100 Gen . . . . Age Age: 55-73 Age: 40-54 Age: 25-39 Age: 10-24 Major Life Events Moon Landing 69’ Share Market Crash 87’ September 11 01’ Covid 20’ Music TV Marketing Broadcast (TV, Radio) Direct (Targeted) Online (Youtube, Google) Social (Tik Tok, Fortnite) WHO ARE GEN Z?
- 101. 2011 2016 2021 51% 49% 46% Parents Born Overseas Parent’s Born in Australia Now, more than half of Australian’s had at least one parent born overseas ABS, 2021 Census, Parents Birthplace (Both, Mother or Father) % of Survey Respondents (excludes those that didn’t answer ~5-7%) AUSTRALIA IS BECOMING EVEN MORE ETHNICALLY DIVERSE
- 102. ABS, 2021 Census, Parents Birthplace (Both, Mother or Father) % of Survey Respondents (excludes those that didn’t answer ~5-7%) SYDNEY IS LEADING AUSTRALIA IN ETHNIC DIVERSITY 2011 2016 2021 67% 65% 61% Parents Born Overseas Parent’s Born in Australia Two thirds of Sydneysiders have Parents Born Overseas
- 103. Source: Stonewall 2022, Rainbow Britain Report Sexual Orientation and Generation (UK 2022) 0% 25% 50% 75% 100% Gen Z Gen Y Gen X Baby Boomers Hetrosexual LGBTQI+ 29% 18% 13% 9% Gen Z are 3.2X more likely to identify as LGBTQI+ vs Baby Boomers GENDER FLUIDITY IS BECOMING THE NORM FOR GEN Z
- 104. Source: ABS, IBISWORLD and Afterpay Retail categories. FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 66% 64% 61% 59% 56% 54% 51% 49% 46% 44% 41% 39% 36% 34% 37% 39% 42% 44% 47% 49% 52% 54% 57% 59% 62% 64% Digital Immigrants Digital Natives (Y, Z and A) WHILST WE’VE HIT THE TIPPING POINT, DIGITAL NATIVE SPEND WON’T HIT PARITY UNTIL 2032 VALUE TIPPING POINT ("DIGITAL NATIVES” OVERTAKE “DIGITAL IMMIGRANTS” SPEND) POPULATION TIPPING POINT ("DIGITAL NATIVES” OVERTAKE “DIGITAL IMMIGRANTS” POPULATION) 2023 2028
- 106. Z’S - OVERT INDIVIDUALISM & SELF EXPRESSION
- 107. SUSTAINABILITY THE PUSH FOR CLIMATE ACTION
- 108. ZOOMERS WORK FROM HOME PUSH
- 110. Tik-Tok Ambassadors Community Authentic Purpose Driven Be Artistic Stand for Something Creative, Not Clinical Activated Spaces Tech-Enabled Brand Collabs Causes GEN Z EXPECTATIONS FOR FUTURE RETAIL FORMAT
- 111. Change is a constant, a natural part of life The constant change of things is part of staying the same
- 112. “The more things change, the more they stay the same” Jean-Baptiste Alphonse Karr, 1847
- 115. PROUDLY SPONSORED BY SCAN THE QR CODE TO GET A COPY OF THE PRESENTATIONS