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What's In Store for In-Store Digital - BWW - 2009

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Today’s consumers live in a digital world.

Product reviews, price comparisons, and smart recommendations are their baseline expectations. And consumers are more time-crunched than ever, with leisure time declining from 26 hours per week in 1973 to 16 today according to a recent Harris Poll. With more to do, and less time to do it in, it’s no wonder that today’s consumers demand greater personalization and selection in the products they buy, and more efficiency in how they buy them.

Retailers are working to meet these needs by bringing digital inside the store and are seeking in essence to become a “Digital Concierge” that guides and serves the shopper. However, bringing digital conveniences into the store is a complicated challenge, one that requires the right principles to succeed.

In this presentation, Bridge Worldwide provides a landscape assessment and framework with seven principles for success for Digital In-Store.

Published in: Business, Self Improvement
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What's In Store for In-Store Digital - BWW - 2009

  1. 1. Bring It Inside Doing Digital In-Store Right Michael Stich, Bridge Worldwide [email_address]
  2. 2. Agenda <ul><li>The Consumer Need </li></ul><ul><li>What’s Working and Why </li></ul><ul><li>Principles for Success </li></ul><ul><li>The Future Experience </li></ul><ul><li>How to Get Started </li></ul>
  3. 3. Let’s Start With The Consumer Need
  4. 4. Source: Harris Interactive, 2008 Consumers Don’t Have Time… 0 5 10 15 20 25 30 1973 1994 2008 Median Number of Leisure Hours
  5. 5. But They Have So Many More Choices… <ul><li>Product Categories </li></ul><ul><li>Brands </li></ul><ul><li>Channels </li></ul><ul><li>Payment Options </li></ul>
  6. 6. … So We’re Growing More Demanding Welcome to the Age of The Selfish Consumer Give me What I want, When I want it, Where I want it, In the forms I want, As much or as little, Filtered by my peers, Backed by expert opinion, Without unwanted interruption, And then I’ll share it with my “friends,” But don’t you dare tell a soul you know me.
  7. 7. Now We Want It in the Store! Ratings and Reviews
  8. 8. Cross-sell Now We Want It in the Store!
  9. 9. Solution Sets Now We Want It in the Store!
  10. 10. Special Promotions Now We Want It in the Store!
  11. 11. Personalized Discounts and Rewards Now We Want It in the Store!
  12. 12. Retailers Should Care Greater Efficiency Increased Basket Greater Loyalty More Shopper Information Digital
  13. 13. What Does the Digital In-Store Currently Look Like?
  14. 14. What Does the Digital In-Store Currently Look Like?
  15. 15. Yet, the Opportunity Still Exists… … but What Makes Sense? Pre-Aug 2006 n = 33 Mean uplift £4,820 Mean uplift 5.7% Median uplift 2.8% Post-Aug 2006 n = 50 Mean uplift £14,536 Mean uplift 7.3% Median uplift 6.3% Source: Glendinning Tesco IBN Example Before In-Store Display After
  16. 16. How To Get Started? Follow Principles For Success
  17. 17. Respect Shopper Behavior and Mentality Source: Glendinning
  18. 18. Respect the Store
  19. 19. Focus on Personalization
  20. 20. Create a Dialogue
  21. 21. Follow E-Commerce Best Practices Create a Compelling Product Dramatically Improve the Purchase Experience Create a Compelling Business Model Sell to a Niche Consumer <ul><li>ACCESSIBILITY </li></ul><ul><li>TIME SAVING </li></ul><ul><li>DISCRETION </li></ul><ul><li>AUTO-REPLENISHMENT </li></ul><ul><li>DIRECT SALE </li></ul><ul><li>MARKETPLACE </li></ul><ul><li>EXCLUSIVITY </li></ul><ul><li>BUILD TO ORDER </li></ul><ul><li>UPGRADEABILITY </li></ul><ul><li>PERSONALIZATION </li></ul><ul><li>SIMPLICITY </li></ul><ul><li>PAYMENT OPTIONS </li></ul><ul><li>GIVE BACK </li></ul>
  22. 22. Be Transparent
  23. 23. Create a Road Map and Track Progress
  24. 24. Rolling It Up Road Map Transparency E-Commerce Best Practices Dialogue Personalization Store Behavior Shopper Behavior Digital Principles
  25. 25. Let’s See How These Measure Up Against a Few Popular Technologies
  26. 26. Smart Shelves Road Map Transparency E-Commerce Best Practices Dialogue Personalization Store Behavior Shopper Behavior Digital Principles
  27. 27. Media Cart Road Map Transparency E-Commerce Best Practices Dialogue Personalization Store Behavior Shopper Behavior Digital Principles
  28. 28. Mobile–SMS and/or QR Codes Road Map Transparency E-Commerce Best Practices Dialogue Personalization Store Behavior Shopper Behavior Digital Principles
  29. 29. Short-Range Wireless Road Map Transparency E-Commerce Best Practices Dialogue Personalization Store Behavior Shopper Behavior Digital Principles
  30. 30. So, Where Is All Of This Going?
  31. 49. How To Get Started?
  32. 50. Bridge Worldwide Can Help Road Map Transparency E-Commerce Best Practices Dialogue Personalization Store Behavior Shopper Behavior Digital Principles
  33. 51. Top 25 Best Small Companies to Work For in America (2006, 2007, and 2008) Part of WPP Group, the largest agency holding company in the world with 2,000 offices in 106 countries Affiliation: 210 people across 12 disciplines Employee Makeup: Full-Service Digital Strategy, Design, Implementation Services: 1979 Founded: About Bridge Worldwide
  34. 52. Thank You! Michael Stich, Bridge Worldwide [email_address]

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