Strategic thought to exhaust the fashion e-commerce potential in 2014

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Are the Italian fashion companies ready to grasp the (hudge) fashion e-commerce opportunity ?

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Strategic thought to exhaust the fashion e-commerce potential in 2014

  1. 1. Strategic thought to exhaust the fashion e-commerce potential
  2. 2. Copyright © 2014 Accenture All rights reserved. 2 Are the Italian fashion companies ready to grasp the (hudge) fashion e-commerce opportunity ? Does we know our potential fashion customer? Are we able to compete in the global fashion arena ? Which are the best digital go-to-market strategy ? What is the role of the digital in our expansion strategy? 1 2 3 4
  3. 3. Copyright © 2014 Accenture All rights reserved. 3 Are the Italian fashion companies ready to grasp the (hudge) fashion e-commerce opportunity ? Does we know our potential fashion customer? Are we able to compete in the global fashion arena ? Whic are the best digital go-to-market strategy ? What is the role of the digital in our expansion strategy? 1 2 3 4
  4. 4. Copyright © 2014 Accenture All rights reserved. 4 The export of goods enabled by e-commerce is one of the main global dirver lead by european and fashion companies 10% Intra-NA 26% Intra-EU8% NA to EU 13% EU to NA 10% NA to APAC 5% Intra-APAC 4% APAC to EU 11% EU to APAC Source: Modern Spice Routes, The Cultural Impact and Economic Opportunity of Cross-Border Shopping, July 2013; PayPal and Nielsen (US,UK, Germany, China, Brazil and Australia) The cross border BtoC e-commerce is growing and in 2013 worthed € 78 billion
  5. 5. Copyright © 2014 Accenture All rights reserved. 5 Global fashion e-commerce had a significative growth and the penetration in wealthy segment is increasing 57% 18% 0% 10% 20% 30% 40% 50% 60% Interesse per le novità in ambito tecnologico Wealthy People General Population Digital ascendancy on the luxury purchase path. Fashion & luxury (CAGR) Compound Annual Growth Rate Source: Euro monitor, Forrester Research, Fact Finder, Kelkoo, Accenture Analysis , Forbes, Business of Fashion, Accenture Estimation
  6. 6. Copyright © 2014 Accenture All rights reserved. 6 2013 2014 2015 2016 UK 9,3 10,7 11,6 12,6 IT 2,0 2,7 3,5 4,4 FR 5,9 7,1 8,4 9,8 US 36,6 43,1 49,8 56,7 China 99,8 169,2 265,9 336,9 Russia 8,1 10,7 12,9 15,0 - 50,0 100,0 150,0 200,0 250,0 300,0 350,0 400,0 AxisTitle 2013 2014 2015 2016 UK 51,6 57,4 60,6 64,2 IT 18,4 22,4 26,8 31,3 FR 45,2 50,3 54,9 59,9 US 200,0 226,7 255,5 283,5 China 369,6 545,7 738,5 842,3 Russia 38,7 46,7 52,8 55,7 - 100,0 200,0 300,0 400,0 500,0 600,0 700,0 800,0 900,0 AxisTitle Fashion e-commerce forecast: China, USA and Russia will become the first 3 apparel markets (1/2) E-Commerce potential customer by country (Million of people) E-Commerce Apparel potential customer by country (Million of people) Source: eMarketer, Euromonitor, Internet retailer, idata, ATK. CBInsight, Netcomm, TNS, Accenture Analysis
  7. 7. Copyright © 2014 Accenture All rights reserved. 7 Fashion e-commerce forecast: China, USA and Russia will become the first 3 apparel markets (2/2) Business Lever Dimension • Access a new market • Accessibility • Exclusivity • Awareness • Communicate • Engage • Purchase • Advocacy • Physical store • Mobile • On-line • Social • Marketplace • We need to establish a long term relation with the customer base • We need to facilitate the purchase process • We need to show and enhance the perception of our style • We need to constantly create new relations with new customers • We need to cover the relevant touch- point to enable the relation • We need to transmit the real quality of our products Strategy 2 Objectives 3 Channels 4 Market Maturity 1 • Geography/accessibility • Internet adoption • E-Commerce adoption • Preferred media • Usual customer journey • Market will increase of 185% • Market will increase of 338% • Customer habits will change totally • Customer habits will evolve quickly • We need to establish spread our visibility through all media • We need to integrate all the touch-points and channels • We need to consolidate our positioning preserving from competitors • Market will increase of 144% • Customer habits are evolving
  8. 8. Copyright © 2014 Accenture All rights reserved. 8 Are the Italian fashion companies ready to grasp the (hudge) fashion e-commerce opportunity ? Does we know our potential fashion customer? Are we able to compete in the global fashion arena ? Whic are the best digital go-to-market strategy ? What is the role of the digital in our expansion strategy? 1 2 3 4
  9. 9. Copyright © 2014 Accenture All rights reserved. 99 E-Commerce ecosystem assessment by fashion districts Source: Forrester Research, Gartner, Forbes, Ovum, Accenture Analysis , 1 2 3 Early adoption Average Late adoptionInternet adoption Quick Quick QuickE-Commerce Adoption 3,6 3,2 2,7Digital IQ Multiple Mixed SingleInternal mgmt vs SAAS DM + Led + BA Led + BA (mostly) BA Digital marketing Exhausted Exploitable ExploitablePotential
  10. 10. Copyright © 2014 Accenture All rights reserved. 1010 Luxury and fashion market are evolving >The customer gives less importance to the idea of Brand, if he would buy clothes, shoes and accessories. >The asimetric value perception is leveraged by the new business model. >The international crisis is the first reason of this trend.Source: Netcomm
  11. 11. Copyright © 2014 Accenture All rights reserved. 11 •Brick&Mortar •Web Channel •Mobile •Kiosk •Catalogue •Channeling (ROPO) •Display •Social •Digital PR •Direct marketing •Customer DB •Profiling / targeting •Coupon / vouchers •Loyalty •Payment •Commission •Invoicing •Econometric model •Web-Analytics •Business-Intel •Deduplication •Assortment plan •Marginality •Product content •Warehouse •Refurbishing •Carrier •Reverse logistics The differents go-to-e-market strategies models E-commerce strategies
  12. 12. Copyright © 2014 Accenture All rights reserved. 12 The differents go-to-e-market strategies models E-commerce strategies Insourcing Out-sourcingStrategic Insourcing Out-sourcingStrategic Insourcing Out-sourcingStrategic Insourcing Out-sourcingStrategic Insourcing Out-sourcingStrategic Insourcing Out-sourcingStrategic Insourcing Out-sourcingStrategic
  13. 13. Copyright © 2014 Accenture All rights reserved. 13 Business-Case: have we controll ?
  14. 14. Copyright © 2014 Accenture All rights reserved. 14 Business-Case: have we controll ?
  15. 15. Copyright © 2014 Accenture All rights reserved. 15 Business-Case: have we controll ?
  16. 16. Copyright © 2014 Accenture All rights reserved. 16 Business-Case: have we controll ?
  17. 17. Copyright © 2014 Accenture All rights reserved. 17 Business-Case: have we controll ?
  18. 18. Copyright © 2014 Accenture All rights reserved. 18 Business-Case: have we controll ?
  19. 19. Copyright © 2014 Accenture All rights reserved. 1919 Which are the 5 top barrer to the e-commerce? Sources: Netcomm & Contact Lab survey Which are the top 5 barriers that stop an engaged potential customer during the purchase process ? Multiple answer submitted to international e-commerce customers.
  20. 20. Copyright © 2014 Accenture All rights reserved. 20 Business-Case: is our brand protected?
  21. 21. Copyright © 2014 Accenture All rights reserved. 21 Business-Case: is our brand protected?
  22. 22. Copyright © 2014 Accenture All rights reserved. 22 The differents go-to-e-market strategies benefits 1 Owned site 2 Full-outsouring 3 Conrolled market-place 4 Demanded (marketplace, flash sales) Profitability Brand protection Speed to market Omni- channaling Catalogue digitalization Management effort
  23. 23. Copyright © 2014 Accenture All rights reserved. 23 Are the Italian fashion companies ready to grasp the (hudge) fashion e-commerce opportunity ? Does we know our potential fashion customer? Are we able to compete in the global fashion arena ? Whic are the best digital go-to-market strategy ? What is the role of the digital in our expansion strategy? 1 2 3 4
  24. 24. Copyright © 2014 Accenture All rights reserved. 24 Best practices and trends (1/2): new models The digital market is evolving very quickly: (1) the experience designs the actual main trend moving towards content curation, (2) Market-Place is the TNT global phenomenon, (3) Smartshop scanshop is enabling the “Internet of thing” Sources: GFK
  25. 25. Copyright © 2014 Accenture All rights reserved. 25 Best practices and trends (1/2): new models The digital market is evolving very quickly: (1) the experience designs the actual main trend moving towards content curation, (2) Market-Place is the TNT global phenomenon, (3) Smartshop scanshop is enabling the “Internet of thing” Sources: GFK
  26. 26. Copyright © 2014 Accenture All rights reserved. 2626 Digital marketing trend in 2014 is much more oriented to curation, relevance, and commercial relation Sources: e-consultancy, TechCrunch , Forbes Best practices and trends (2/2): new strategies
  27. 27. Copyright © 2014 Accenture All rights reserved. 2727 Digital marketing trend in 2014 is much more oriented to curation, relevance, and commercial relation Sources: e-consultancy, TechCrunch , Forbes Best practices and trends (2/2): new strategies
  28. 28. Copyright © 2014 Accenture All rights reserved. 2828 Digital marketing trend in 2014 is much more oriented to curation, relevance, and commercial relation Sources: e-consultancy, TechCrunch , Forbes Best practices and trends (2/2): new strategies The marketing automation functionalities are increasing e-commerce performances
  29. 29. Copyright © 2014 Accenture All rights reserved. 2929 Digital marketing trend in 2014 is much more oriented to curation, relevance, and commercial relation Sources: e-consultancy, TechCrunch , Forbes Best practices and trends (2/2): new strategies The marketing automation functionalities are increasing e-commerce performances
  30. 30. Copyright © 2014 Accenture All rights reserved. 3030 Digital marketing trend in 2014 is much more oriented to curation, relevance, and commercial relation Sources: e-consultancy, TechCrunch , Forbes Best practices and trends (2/2): new strategies The marketing automation functionalities are increasing e-commerce performances
  31. 31. Copyright © 2014 Accenture All rights reserved. 31 Business-Case: Michael Kors super-targeted campaigns
  32. 32. Copyright © 2014 Accenture All rights reserved. 32 Business-Case: Amazon Fashion
  33. 33. Copyright © 2014 Accenture All rights reserved. 33 Business-Case: Bureberry digitalizing store
  34. 34. Copyright © 2014 Accenture All rights reserved. 34 Business-Case: Farfetch new fashion marketplace
  35. 35. Copyright © 2014 Accenture All rights reserved. 35 Business-Case: Superdry on e-bay
  36. 36. Copyright © 2014 Accenture All rights reserved. 36 Business-Case: Uniqlo go to China using TaoBao/T-Mall
  37. 37. Copyright © 2014 Accenture All rights reserved. 37 Business-Case: Hointer fully automated store
  38. 38. Copyright © 2014 Accenture All rights reserved. 38 Business-Case: Celio* showrooming
  39. 39. Copyright © 2014 Accenture All rights reserved. 39 Business-Case: House of Fraser omni-fashion
  40. 40. Copyright © 2014 Accenture All rights reserved. 40 Business-Case: Nasty Gal a merchandise-experience
  41. 41. Copyright © 2014 Accenture All rights reserved. 41 Business-Case: Stories.com e-commerce curation
  42. 42. Copyright © 2014 Accenture All rights reserved. 42 Business-Case: Nordstrom showrooming
  43. 43. Copyright © 2014 Accenture All rights reserved. 43 Are the Italian fashion companies ready to grasp the (hudge) fashion e-commerce opportunity ? Does we know our potential fashion customer? Are we able to compete in the global fashion arena ? Whic are the best digital go-to-market strategy ? What is the role of the digital in our expansion strategy? 1 2 3 4
  44. 44. Copyright © 2014 Accenture All rights reserved. 44 “Because the internet is founded on principles of accessibility and democracy, luxury brands generally use digital as a way to spread the brand's dream and mythology. Digital communications can play a valuable and critical role in spreading information about the brand. The digital experience role in the apparel, fashion or luxury spectrum exclusive accessible DigitalTV Print In-Store Events VIP Events The role of «digital» approached with an apparel and retail strategy Source: Marci Ikeler – digital strategy for luxury brand
  45. 45. Copyright © 2014 Accenture All rights reserved. 45 “Because the internet is founded on principles of accessibility and democracy, luxury brands generally use digital as a way to spread the brand's dream and mythology. Digital communications can play a valuable and critical role in spreading information about the brand. The digital experience role in the apparel, fashion or luxury spectrum exclusive accessible DigitalTV Print In-Store Events VIP Events exclusive accessible TV Print In-Store Events VIP EventsDigital The role of «digital» approached with an apparel and retail strategy The new role of «digital» approached with a seamless high-end and luxury strategy Source: Marci Ikeler – digital strategy for luxury brand
  46. 46. Copyright © 2014 Accenture All rights reserved. 46 Click Through Visitors Natural & Organic Direct Marketing Customer Thrust Customer relation Engage How can we define our business goals, reach our customers and exhaust our e-commerce potential ? KPICustomer Journey Adressable market Brand awareness & ATLReach Business lever Consider Turnover Store Reactivation Channeling eStore Profitability Convert Customer Lifetime ValueRelation Conversion Commercial Levers User ExperienceAcquire
  47. 47. Copyright © 2014 Accenture All rights reserved. 47 SEARCH Natural Search, SEO Paid Search, SEM Search Capability Landing Page Optimisation iMEDIA Standard Display Ads Rich Media Ads Broadband Video Web TV WEB SITE Branded Sites Affiliate Site Promotional Site Usability & Accessibility Analytics, Web Site Optimisation PARTNERSHIPS Content Syndication Comparison Sites, Shopping Directories Sponsorships, Co-branding Philanthropic Cause Marketing E-COMMERCE Direct to Consumer Where to Buy Functionality Branded Storefront Sell Direct on Third-Party Site Technical Platform MOBILE Mobile Browser Mobile Aps QR Codes, GPS RFID POS Text Messaging CRM Loyalty Platform Behavioral Targeting & Acquisition Cross-sell Engine Retention & WinBack Campaigns, Email, Reporting SOCIAL Online Video Communities, Answer Forums Word-of-mouth, Buzz, Referrals Wikis, blogs, Crowd Sourcing Product Innovation Multichannel Customer Journey DIGITAL CAPABILITIES TO LEVERAGE OFFLINE FOUNDATION AWARENESS ADVOCACY PURCHASE CONSIDERATION LOYALTY ONLINE Identification of Need Search for Solution Evaluate Alternatives Product Details Visit to the store Purchase Decision Visit to the brand website Compare Offers Online Purchase Social Interaction Online Registration Mobile App Offline Purchase 19% 81%Time Spent «e-Commerce» is dead: it’s just «commerce»
  48. 48. Copyright © 2014 Accenture All rights reserved. 4848 Map the relevant elements of the experiential system Design a digital system managing customer expectations through: journeys, devices, content, products, services … COMMUNICATE SALE ENGAGE PHYSICAL ON-LNE MOBILE What is digital? Print Store Events VIP Event
  49. 49. Copyright © 2014 Accenture All rights reserved. 4949 Map the relevant elements of the experiential system Design a digital system managing customer expectations through: journeys, devices, content, products, services … COMMUNICATE SALE ENGAGE PHYSICAL ON-LNE MOBILE Display Store VIP Event E-Com Social Conten t App CRM E-mail Event s Print
  50. 50. Copyright © 2014 Accenture All rights reserved. 5050 Map the relevant elements of the experiential system Design a digital system managing customer expectations through: journeys, devices, content, products, services … Design experience path enabled by a mix of functionalities COMMUNICATE SALE ENGAGE PHYSICAL ON-LNE MOBILE Display Store VIP Event E-Com Social Conten t App CRM E-mail Event s Print COMMUNICATE SALE ENGAGE PHYSICAL ON-LNE MOBILE VIP Event Conten t CRM E-mail App
  51. 51. Copyright © 2014 Accenture All rights reserved. 5151 Map the relevant elements of the experiential system Design a digital system managing customer expectations through: journeys, devices, content, products, services … Design experience path enabled by a mix of functionalities COMMUNICATE SALE ENGAGE PHYSICAL ON-LNE MOBILE Display Store VIP Event E-Com Social Conten t App CRM E-mail Event s Print COMMUNICATE SALE ENGAGE PHYSICAL ON-LNE MOBILE Event s App CRM E-mail Social Social Conten t
  52. 52. Copyright © 2014 Accenture All rights reserved. 5252 Map the relevant elements of the experiential system Design a digital system managing customer expectations through: journeys, devices, content, products, services … Design experience path enabled by a mix of functionalities COMMUNICATE SALE ENGAGE PHYSICAL ON-LNE MOBILE Display Store VIP Event E-Com Social Conten t App CRM E-mail Event s Print Store Conten t CRM E-mail E-Com COMMUNICATE SALE PHYSICAL ON-LNE ENGAGE MOBILE
  53. 53. Copyright © 2014 Accenture All rights reserved. 5353 Map the relevant elements of the experiential system Design a digital system managing customer expectations through: journeys, devices, content, products, services … Design experience path enabled by a mix of functionalities COMMUNICATE SALE ENGAGE PHYSICAL ON-LNE MOBILE Display Store VIP Event E-Com Social Conten t App CRM E-mail Event s Print Store E-Com Conten t App CRM COMMUNICATE SALE PHYSICAL ON-LNE ENGAGE MOBILE
  54. 54. Copyright © 2014 Accenture All rights reserved. 54 Business-Case: Neiman Marcus design a journey enabled by an experential system across thouch points
  55. 55. Copyright © 2014 Accenture All rights reserved. 55 Business-Case: Neiman Marcus design a journey enabled by an experential system across thouch points
  56. 56. Copyright © 2014 Accenture All rights reserved. 56 Business-Case: Neiman Marcus design a journey enabled by an experential system across thouch points
  57. 57. Copyright © 2014 Accenture All rights reserved. 57 Business-Case: Neiman Marcus design a journey enabled by an experential system across thouch points
  58. 58. Copyright © 2014 Accenture All rights reserved. 58 Business-Case: Neiman Marcus design a journey enabled by an experential system across thouch points
  59. 59. Copyright © 2014 Accenture All rights reserved. 59 Business-Case: Neiman Marcus design a journey enabled by an experential system across thouch points
  60. 60. Copyright © 2014 Accenture All rights reserved. 60 Business-Case: Neiman Marcus design a journey enabled by an experential system across thouch points
  61. 61. Copyright © 2014 Accenture All rights reserved. 61 Business-Case: Neiman Marcus design a journey enabled by an experential system across thouch points
  62. 62. Copyright © 2014 Accenture All rights reserved. 62 The digital role in the luxury business environment Digital is one of the most powerful asset to create winning strategies. Digital provide the flexibility to reach all the objectives creating innovative interaction path across all the channel. Strategy 1 Objectives 2 Channels 3 • Brand positioning and awareness creation Business Lever • Brand positioning and awareness creation • Brand positioning and awareness creation DimensionDescription • Accessibility • Exclusivity • Communicate • Engage • Sale • Physical • Mobile • On-line
  63. 63. Copyright © 2014 Accenture All rights reserved. 63 … so what ? The biggest opportunity for apparel, fashion and luxury segments are represented by the cross-border markets, expecially USA, Russia, China. 1 The Italian companies has a big gap to bridge to compete in the global arena. The marketplace could help to reach far markets. 2 Content curation, micro-targeting and systemic approach are the leading trend for a premium experience. 3 We need to clearly define our brand equity, product positioning and the value proposition to garrison the proper steps of the journey. 4
  64. 64. Federico Gasparotto Digital Marketing Offering Lead Accenture Interactive Tel: +39-331-7550490 @: federico.gasparotto@accenture.com Blog: www.gasparotto.biz IM: federico.gasparotto Thank you!

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