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Humans are back: Why companies are putting a premium on the human element in the digital age

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Presentation from NRF 2020: Retail’s Big Show.
-- Piers Fawkes, President and Founder, PSFK
-- Olivier Blayac, GM, Color&Co by L'Oreal

Published in: Retail
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Humans are back: Why companies are putting a premium on the human element in the digital age

  1. 1. Delivering Human Touch Through Personal Utility Piers Fawkes, President & FounderJanuary 12, 2019
  2. 2. We have reported on 10 years of change
  3. 3. Mobile A Decade Of Change Shop In Shop Social Ominichannel Connected Store Experiential DTC 2010 2020
  4. 4. What Next?
  5. 5. THE FUTURE OF RETAIL IS PERSONAL UTILITY
  6. 6. Personal Utility Advanced computing, delivery logistics & connected tech powering a hyper-personalized retail experience with objective of anticipating and providing exceptional service 63% of consumers surveyed are interested in personalized recommendations, and the majority of them are willing to share their data in exchange for benefits. Source: Delivering For The New Consumer. RILA and Accenture, 2018
  7. 7. HOW DO WE DELIVER PERSONAL UTILITY?
  8. 8. Personal Utility INSPIRE ME MEET ME SERVE ME VALUE ME KNOW ME
  9. 9. Provide me with personalized recommendations and curated content to help me discover and choose the right products for my needs. INSPIRE ME 78% of consumers are interested in receiving personalized recommendations or coupons/offers that are relevant to their current needs while they are shopping in a store. Source: PSFK x Suzy Future of Retail 2020 Survey
  10. 10. L’Oréal Color&Co
  11. 11. L’Oréal Color&Co
  12. 12. Adidas LDN
  13. 13. Adidas LDN
  14. 14. Integrate shopping into my daily life, providing me with access to the goods and services I need in the manner that’s most convenient for me. MEET ME 76% of consumers will shop locally at different branches of the same retail chain if they provide different products and services. Source: PSFK x Suzy Future of Retail 2020 Survey
  15. 15. Google Shopping
  16. 16. Nordstrom
  17. 17. Nordstrom
  18. 18. SERVE ME Don’t just sell me a product but provide me with a solution, making my life easier and ensuring I get the most out of my purchase. 63% of consumers are interested in purchasing a product that comes with related services to help them get the most out of their purchase. Source: PSFK x Suzy Future of Retail 2020 Survey
  19. 19. Domino’s Delivery Hotspots
  20. 20. Domino’s Delivery Hotspots
  21. 21. Equal Parts
  22. 22. Equal Parts
  23. 23. VALUE ME Provide meaningful value that rewards my loyalty and shows me you’re there for the long-haul. 90% of consumers are interested in being able to choose the types of rewards that they receive from a brand or retailer’s loyalty program. Source: PSFK x Suzy Future of Retail 2020 Survey
  24. 24. Reebok Unlocked
  25. 25. Reebok Unlocked
  26. 26. Stitch Fix
  27. 27. Stitch Fix
  28. 28. KNOW ME Empower me with digital tools that allow me to control my shopping experience while continually working to make my experience even better. 70% of of consumers expect a retailer to offer them the same level of personal service whether they are shopping in a physical store, online or on their mobile device. Source: PSFK x Suzy Future of Retail 2020 Survey
  29. 29. Nike x Foot Locker
  30. 30. Choosy
  31. 31. Choosy
  32. 32. Personal Utility INSPIRE ME MEET ME SERVE ME VALUE ME KNOW ME
  33. 33. What To Do Now Invest in tools as much as you invest in experiences Nike x Foot Locker
  34. 34. What To Do Now Layer services to bridge product gaps Equal Parts
  35. 35. What To Do Now Decentralize the store Nordstrom
  36. 36. Launching December 2019
  37. 37. C1 - Internal use
  38. 38. NRF – Jan 2020 www.colorandco.com
  39. 39. FROM PERSONALIZED TO PERSONAL How the human factor enhances the digital experience www.colorandco.com
  40. 40. We provide personalized haircolor suitable for every hair goal addressing each individual’s hair type and history. No more undesired nor unpredictable color result WHAT IS COLOR&CO PERSONALIZED HAIRCOLOR ?
  41. 41. Show end result Our uniqueness
  42. 42. . TheColor&Co Collective Video Consultation InfiniteColors Professional grade formulas, personalized service and results
  43. 43. 2. COLORISTS Colorists are independent and make extra money on their spare time. They are proud of sharing expertise with people who wouldn’t have gone to a salon They embrace a digital community 1. CONSUMERS Find it personable, feel listened to and part of the process. They select the colorist according to their needs. They get more accurate color resulting in higher satisfaction 3. COLOR & CO Higher Conversion rate Higher Customer life time value Business Model
  44. 44. Results: Consultation conversion rate = 25Xquiz conversion rate
  45. 45. Why can’t I get the gray to cover? Whattheysay I’ve tried multiple products and I never get the results that I want. I always end up brassy. Why? I went to a salon and they told me they need to bleach my hair. Is this right? I am using your color now, but want the shade to be slightly different. Can you help me with that? Application Expectation Confirmation Gratification Whatweprovide Custom Tips Realistic Outcomes Reassurance Superior Service The Human factor eliminates the fear that comes with at-home hair color
  46. 46. What stylists say Love the emotional connection that they have with the customer
  47. 47. APPENDIX www.colorandco.com

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