Streethub mandeep singh


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Streethub mandeep singh

  2. 2. STRICTLY PRIVATE AND CONFIDENTIAL 1 A little about me Mandeep Singh  Co-founder of StreetHub  Previously a Private Equity investor at BC Partners  ex-OC&C Strategy Consultants (seconded to Marketing Strategy Team at Asda)  MA University of Cambridge
  3. 3. STRICTLY PRIVATE AND CONFIDENTIAL 2 StreetHub is the mobile marketplace for offline retail  Purely for independents  100s of the best home and fashion shops in London  Real-time inventory, shows you what‟s in stock  Click & collect (or 90 minute delivery), fulfilled from store Retailers Drives more footfall Discover unique products near me, available right now Shoppers
  4. 4. STRICTLY PRIVATE AND CONFIDENTIAL 3 We‟re backed by a group of Venture Capital funds  $1.2m seed round led by a group of leading VCs…  …and Angels
  5. 5. STRICTLY PRIVATE AND CONFIDENTIAL 4 Let‟s take a step back…what is the impact of online?  Only 11% of UK retail in 2013 took place online  Local is 89% of UK retail!  The real story is that c.50% (and growing) of consumers „Research Online, Buy Offline‟ – Ease of searching and discovering on computer/mobile – Product availability, opening times, directions, inspiration  Maybe online isn‟t so bad after all? Source: ONS, Google “29% of our customers research in-store and buy online, compared with 69% who research online and buy in-store” John Lewis Ops Director
  6. 6. STRICTLY PRIVATE AND CONFIDENTIAL 5 Important - behaviour varies a lot by category 80% 53% 42% 14% 11% 6% 6% 6% Music & video Books Electricals Clothing & footwear Homewares Furniture & Flooring DIY & gardening Health & beauty 1. UK Market, 2013E. Excludes Grocery and Other Source: Statista Research Offline, Buy Online behaviour; commoditised, price comparable, branded, easy logistics Research Online, Buy Offline. More unique products, discovery, „touch and feel‟ preference E-Commerce Penetration by Category (Value)
  7. 7. STRICTLY PRIVATE AND CONFIDENTIAL 6 Google tell us how important mobile is to local retail  “72% of consumers who searched for local information on a smartphone visit a store within 5 miles”  “50% of consumers who conducted a local search on their smartphone visited a store within a day”  “56% of on-the-go Google smartphone searches have local intent” – May 2014
  8. 8. STRICTLY PRIVATE AND CONFIDENTIAL 7 Click & Collect is a manifestation of online to offline Selfridges Oxford Street  Dedicated entrance, plans for changing rooms and kiosks  Drive-thru  Order by 4pm, get it the next day John Lewis  Click and collect successful, but limited store estate  Expansion via Waitrose stores and Collect+ trial 75% Up to 65% 54% 50% Argos John Lewis M&S Asda non-food % of Online Sales Collected In-Store Source: Forrester, Deutsche Bank, Verdict, Internet Retailing, Retailer Press Releases, Annual Reports, StreetHub Research
  9. 9. STRICTLY PRIVATE AND CONFIDENTIAL 8 So how does StreetHub help independents? I can discover unique products near me, available for collection or same-day delivery
  10. 10. STRICTLY PRIVATE AND CONFIDENTIAL 9 And how do independents help StreetHub?
  11. 11. STRICTLY PRIVATE AND CONFIDENTIAL 10 Who are our shops?  Independent, usually 1 shop, maximum 5-10  Expert curators  Vast majority have a traditional e-commerce site but are rarely part of an online marketplace Typical Retailer Stores in London
  12. 12. STRICTLY PRIVATE AND CONFIDENTIAL 11 Email: Telephone: +44 (0)207 193 6444 StreetHub Ltd International House 1 St Katherine‟s Way London E1W 1UN