Future of-retail-webinar

The Future of Retail
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and impact of emerging technology
This presentation is from “The Future of Retail: Hear from industry leaders on the impact of
emerging technologies”, a marketingfinder.co.uk webinar.
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James Collins
Managing Director
Rakuten Attribution
Sophia Evgeniou
Head of Customer Acquisition
House of Fraser
Vicki Loomes
Senior Trend Analyst
trendwatching.com
Julian Burnett
CTO
TH_NK
Kate Nightingale
Founder
Style Psychology
Jo Roberts
Consultant Editor
marketingfinder.co.uk

The Future of Retail and impact of emerging technology
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Presented by the Rakuten Marketing
Executive Team to: JCPenney
Date: 09.01.2014

Introduction
James Collins, MD for Rakuten Attribution (Europe)
• Who we are
– Pioneers in tracking, attribution and measurement
– Over 2,000 tracked websites with configured attribution
– Tracking ~100M events and £9m of sales per day
– Part of Rakuten Marketing
• Why our webinar focus, the future of retail and impact
of emerging technology, is relevant
– Modern shoppers will define the future of retail
– Consumers expect brands to keep up with evolving technologies
– Increasingly complex touchpoints
• Introducing our panel of experts
Kate Nightingale
Vicki Loomes Julian Burnett
Sophia Evgeniou
Our Panel

?
Ask Us Anything
Agenda
Kate Nightingale
THE EVOLVING
EXPECTATIONS
OF MODERN
SHOPPERS
Vicki Loomes
THE
ROLE OF
PERSONALISATION
& EVOLUTION OF
CONTEXTUAL
OMNIPRESENCE
Julian Burnett
LEVERAGING
TECHNOLOGY TO
IMPROVE BRAND
TO CONSUMER
COMMUNICATION
Sophia Evgeniou
HOW BRANDS
CAN KEEP UP
WITH MILLENIAL
SHOPPERS
James Collins
MEASURING
THE MODERN
SHOPPER
Q&A

Julian Burnett
CTO, TH_NK (PREVIOUSLY JOHN LEWIS & SAINBURY’S)

RAISED EXPECTATIONS
Speaking: Julian Burnett

ENHANCED EXPERIENCES

COMPELLING ECONOMICS

ADVANCING ENABLERS

EMERGING COMPETITION

RENEWED ENERGY

• Consumer expectations are way ahead of most retailers current capabilities
• Creating distinction and differentiation in the market has dramatically
shifted into a new competitive space
• The economic advantages of moving to omnichannel are compelling to the
retailer and consumer alike
• Relevant data & technology enablers are abundant and cheap, but today’s
architectures mean it can be tricky to leverage effectively
• A number of innovative retail business models are emerging, turning
threatening to blind-side the mainstream players
• Embracing the new reality will drive new energy into most
retailers and challenge the governance structures of
even the most seemingly progressive retailer
KEY TAKEAWAYS

Vicki Loomes
SENIOR TRENDS ANALYST AT TRENDWATCHING.COM

Founded in 2002 / 260k subscribers / 1,200 clients
Speaking: Vicki Loomes

17
MORE
THAN TECH
CHANGE

“Clusters of innovations that have
unlocked or newly serviced an existing
consumer need, desire, want or
value.”
WE LOOK FOR:

REMEMBER, WITH
TRENDS…
EXPECTATION GAP

EMERGING EXPECTATION
CONSUMERS EXPECT YOU TO BE
THERE WHEN THEY NEED YOU

OMNICHANNEL

DOMINO’S
Practicing a omnichannel strategy
since

PROBLEMS FOR YOU:
EXPENSIVE, COMPLEX
PROBLEMS FOR THE CUSTOMER:
OVERSATURATED, IRRITATING

Your customer doesn’t want you to pester them
on every ‘channel’. But they increasingly expect
you to use contextual understanding to be there
when they need you.
CONTEXTUAL
OMNIPRESENCE

AMAZON DASH
Connected button brings 'Buy Now'
functionality to the physical world
NEW CHANNELS

MINI FASHION
BAR
Hotel’s curated mini fashion bar
solves guest’s sartorial dilemmas
NEW CHANNELS

THINK CREATIVELY
ABOUT CONTEXT

DUREX Condom brand’s bot matches
broken-hearted Twitter users
NEW CONTEXT
- EMOTION

SMILE SUGGEST Browser extension bookmarks smile-
inducing webpages
NEW CONTEXT
- EMOTION

Could you use CONTEXT and new CHANNELS to
be there when your customer might need you?
LIGHT-BULB MOMENT:

Kate Nightingale
FOUNDER, STYLE PSYCHOLOGY

Quick Poll

Expertise in
consumer behaviour
Emotional engagement Commercial benefits
Brand Experience & Consumer Behaviour
Holistic and consistent
brand experience
Speaking: Kate Nightingale

Consistent
Sensory Brand
Communication
Brand
Perception
Brand
Personality
Brand
Behaviour
Brand
Identity Brand
Trust
Brand-Customer
Relationship
Brand Equity
Brand Value
Brand Quality
Brand
Perception
Consumer
Behavioural
Effects
Price
Perception
Purchase
Intention
Purchase
Frequency
Brand
Memory
Brand
Attachment
Return
Intention
Dwell Time
Money
Spent
Word Of
Mouth
Emotional
Engagement
We create clear commercial benefits

36
95%
Decisions are Subconscious
40 bits
of information per second processed consciously
11 mln bits
of information per second processed subconsciously
We are subconscious beings

• Multi-channel & Omni-channel does not exist in the brain – it is
only brand communication
• Consumer is in control - they decide when, how and for how much
• Consistency means trust – discrepancies between channels means
brand can’t be trusted
Current Consumer Behaviour

• Human connection and immersive experiences will be key
• ‘Digital detox’ will become the new leisure
• Technology will be only accepted if its design will be intuitive and
undisruptive to human connectivity
Future Prediction: intuitive technology!

Sophia Evgeniou
HEAD OF CUSTOMER ACQUISITION, HOUSE OF FRASER

Speaking: Sophia Evgeniou
About House of Fraser:
House of Fraser is a department store group with
59 locations across the UK and Ireland plus two
small dot.com concept stores. As one of the best
known names on the high street, House of Fraser
has presented customers with an unrivalled
nationwide department store for 165 years.

41
Who are the Millennial Shoppers?
… But the
first truly
digital one
Tech savvy
and a
challenge
for retailers

The difficulty for House of Fraser and other retailers
Are more
informed & own
many devices
Millennial Shoppers…
Need to be
Empowered
Expect
Relevancy & a
bargain
Want to be
treated well
Demand
seamless
experiences
Shop in store
and online
Desire
entertainment
Aim to be
Unique

43
So, how do we keep up
with the millennial shopper?
LISTEN
“If you liked that, we think
you might like this...”
DON’T
STEREO-
TYPE
DEVELOP
FOR THE
INDIVIDUAL
KEEP IT
SIMPLE
BE
PERSONAL
PROVIDE
CONVEN-
IENCE
ON THE GO
SOLUTIONS

How to keep up with millennial shoppers
Before
Information
Timing
Simplicity
competitiveness
During
Beacons
Mobile/Tablet
Reviews
Demonstrations
After
Loyalty
Advocacy
Relevance
Personalisation
To successfully convert Millennial shoppers,
don’t just focus on what they buy…
Instead find out who they are,
how and why they purchase?

James Collins
MD, RAKUTEN ATTRIBUTION (EUROPE)

• Collect data across all channels and devices
• Link disparate data sets to a single user
• Create the true user journey
• Identify touchpoints that make the user journey
• Quantify impact of each touchpoint on the sale
• Divide value between touchpoints, based on contribution
• Use data to inform key budgeting decisions
• Optimise individual channel performance
• Automate PPC bid optimisation and programmatic display
Speaking: James Collins

35% of eCommerce professionals attributed
‘complex touchpoints’ as the top barrier to
achieving a full customer view. (Econsultancy)
73% of CMOs agreed on the importance on
having a single view of the customer but fewer
than 20% of companies have been able to
achieve the goal.(Forrester)
The Future is Complicated

The Future is Connected
DATA INSIGHT
OPTIMISATIONINTEGRATION
AUTOMATION

Why retailers need attribution
TO OPTIMISE
MARKETING PERFORMANCE
TO OPTIMISE
MARKETING
PERFORMANCE
42% of marketers want to better optimise
campaign performance
TO OPTIMISE
TO JUSTIFY
SPEND &
PROVE ROI
69% of marketers agree that marketing is increasingly
responsible for revenue contribution
TO OPTIMISE
TO ACHIEVE
A SINGLE SOURCE
OF THE TRUTH
42.4% of marketers say reconciling data from disparate
sources is the greatest challenge to attribution
TO OPTIMISE
TO KEEP UP
WITH MILLENIALS
& COMPETITORS
38.9% of marketers say that difficulty in tracking cross-
device/cross-platform advertising is their biggest
challenge for attribution

Attribution Uptake

The Future
• Moving from multichannel to omnichannel will make things more complicated
• Marketers will be more collaborative and be able to make sense of the data
and infer actions
• Seamless integration and optimisation will make help us to become more
connected
• By 2020 the majority of brands will accept attribution as an essential part of
their omnichannel marketing strategy
Key Insights

3 Reasons to Complete the Exit Survey
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2.You can request your free copy of “Rocket
Powered Performance, Not Rocket Science”
3. You can send a recording of the webinar to
colleagues
The Future of Retail and impact of emerging technology

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