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Brave New World of Retail

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At the 2011 iMedia Breakthrough Summit, Wade Allen, VP of Retail at Rockfish and Devora Rogers, Director of Product Strategy at IPG Lab, delivered this presentation on the "Brave New

Despite rapid advances in information technology, social connectivity, and digital communications, the retail shopping experience has evolved little for the past fifty years. But today, converging macro trends in pricing, technology and mobile are poised to radically reinvent shopping. Meanwhile, new insights into shopper behavior enables brands and retailers to influence purchase in powerful ways. Retail as we know it, will never be the same.

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Brave New World of Retail

  1. 1. The Brave New World of Retail
  2. 2. The Brave New World of Retail <ul><li>Wade Allen </li></ul><ul><li>Vice President of Retail at Rockfish </li></ul><ul><li>Devora Rogers </li></ul><ul><li>Director of Product, Retail IPG Media Lab and Shopper Sciences </li></ul>
  3. 3. Retail Evolution Supplier power Distribution Retailer power Negotiation Shopper power Information Shopping transformation Retail 1.0 Retail 2.0 Retail 3.0
  4. 4. <ul><li>Are we giving shoppers what they want? </li></ul>Will technology help?
  5. 5. Can Evolution of Retail Tech Ease Shopper Barriers? Number reporting the barriers Across all categories, shoppers get stuck in the purchase process based on three ‘barrier nodes’ at or above SHS norms Information Confidence Validation
  6. 6. Smart Phone Growth & Shopper Influence
  7. 7. Changing the way we shop <ul><li>Mobile barcode scanning TRIPLES on Black Friday </li></ul><ul><li>Paypal cites 310 % increase in mobile shopping on Black Friday </li></ul><ul><li>73% of mobile users prefer to use their smartphones for simple tasks rather than interact with an employee. </li></ul>Sources: MobileMarketer, Paypal , Accenture
  8. 8. Retail: Now and in the future “ THE FIRST Law of Technology says we invariably overestimate the short-term impact of new technologies while underestimating their longer-term effects.” John Naughton
  9. 9. Interactive Brick and Mortar
  10. 10. Augmenting Retail Reality
  11. 11. Invisible Pop-Up Store Airwalk and GoldRun
  12. 12. Easing Apprehension
  13. 13. Virtual Sampling
  14. 14. Interactive Gestural Experiences
  15. 15. Adding Transparency
  16. 16. Improving Couponing
  17. 17. Group Clout
  18. 18. Centralized Customer Service
  19. 19. Social Persuasion
  20. 20. Purchase Show and Tell
  21. 21. Audience Measurement and emotional response Color selection Trying on lipgloss
  22. 22. The most profound technologies are those that disappear. They weave themselves into the fabric of everyday life until they are indistinguishable from it. -Mark Weiser, 1991 “The Computer for the 21st Century” Scientific American Powerless Printed Coil Technology
  23. 23. Virtual Tour of IPG Media Lab’s Retail Center
  24. 24. THANK YOU <ul><li>Wade Allen </li></ul>Devora Rogers

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