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RetailOasis Big Breakfast 2017: Pippa Kulmar Presentation

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Our 3rd annual Retail Big Breakfast, Pippa ( Co-Director, RetailOasis ) discusses the key trends effecting retail.

Published in: Retail
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RetailOasis Big Breakfast 2017: Pippa Kulmar Presentation

  1. 1. BIG BREAKFAST: PIPPA CONSUMER #retailoasis CO-DIRECTOR, RETAILOASIS
  2. 2. CONSCIOUS CAPITALISM RETAIL-AS- A-SERVICE SILICON VALLEY EFFECT REBIRTH OF CREATIVITY
  3. 3. CONSCIOUS CAPITALISM
  4. 4. “IT USE TO BE THAT THE ONLY THING THAT MATTERED WAS THE SHAREHOLDER AND THE BOTTOM LINE… NOW WE WANT GREATER PURPOSE IN LIFE. IF WE COULD GET EVERY BUSINESS TO ADOPT A PROBLEM IT WOULD SOLVE BIG THINGS FOR THE WORLD. IF WE DON’T DO THINGS LIKE THIS, WE LEAVE IT TO GOVERNMENT AND THE SOCIAL SECTOR - IT WON’T GET MUCH BETTER” #retailoasis
  5. 5. “LONG-TERM THINKING IS MORE IMPORTANT THAN SHORT-TERM. THE QUESTION IS HOW DO WE MAKE SURE WE’LL BE AROUND IN THE NEXT 100 YEARS?” CEO, IKEA North America #retailoasis
  6. 6. ‘IT’S NOT MILLENIALS, IT’S A HUMAN MOVEMENT - WE’RE HOLDING ORGANISATIONS ACCOUNTABLE TO THE COMMUNITIES THEY WORK WITH’ 500 START-UPS #retailoasis
  7. 7. BUSINESSES RE-ORIENTING THIS WAY ARE OUTPERFORMING… TOTAL RETURN 15 YEARS 10 YEARS 5 YEARS 3 YEARS FoE* COMPOSITE *CONSCIOUS BIZ 1681% 410% 151% 83% GOOD TO GREAT COMPANIES 263% 176% 158% 222% S&P 500 118% 107% 61% 57% n.b. FOR composite includes Amazon, Starbucks, Ikea, Whole Foods, Nordstrom, Costco, REI, Ebay, Wegmans, Chipotle, L.L. Bean, Container Store, Trader Joes, New Balance, Patagonia etc. #retailoasis
  8. 8. TITLE insert text here REFORMATION, SOHO
  9. 9. TITLE insert text here #retailoasis
  10. 10. “IT’S NOT ONLY OUR JOB TO PROVIDE CLOTHING TO WOMEN BUT ALSO TO LET THEM KNOW HOW MUCH POWER THEY CAN HAVE IN THE FIGHT AGAINST TRADITIONAL FASHION PRACTICES. I HOPE THAT MOVING FOWARD SUSTAINABILITY ISN’T SEEN AS AN ADDED BONUS FOR COMPANIES. IT SHOULD BE THE STANDARD” YAEL AFLALO, FOUNDER & CEO #retailoasis
  11. 11. TITLE insert text here WHOLEFOODS, BKLN
  12. 12. WHO’S DOING IT WELL? WHOLEFOODS AND GOTHAM GREENS #retailoasis
  13. 13. “HOW WOULD I FEEL IF WHAT I’M DOING RIGHT NOW IS WRITTEN UP ON THE FRONT PAGE OF THE WALL STREET JOURNAL OR THE NYT OR IF IT IS ON TV? WOULD I STLIL DO IT?…THIS IS A USEFUL EXERCISE BECAUSE WE SHOULDN’T BE EMBARRASSED OR ASHAMED OR ANYTHING WE DO” JOHN MACKEY, FOUNDER WHOLEFOODS MARKET #retailoasis
  14. 14. TITLE insert text here SWEETGREEN
  15. 15. WHO’S DOING IT WELL? SWEET GREENS #retailoasis
  16. 16. WHAT THIS MEANS: BE A STEP AHEAD OF THE CUSTOMER NOT CSR BUT BUSINESSES A FORCE FOR GOOD BE CAUGHT DOING THE RIGHT THING #retailoasis
  17. 17. THE SILICON VALLEY EFFECT #retailoasis
  18. 18. RETAIL HAS TRADITIONALLY FOLLOWED A DERIVATIVE MODEL - WHAT WORKED IN ONE COUNTRY WAS THEN MADE TO WORK OR COPIED IN ANOTHER COUNTRY. WE SEE COMPETITION AS VALIDATION - IF THEY’RE DOING IT WE MUST DO IT TOO. #retailoasis
  19. 19. “WHEN LOTS OF PEOPLE ARE TRYING TO DO THE SAME THING THAT’S THE DEFINITION OF INSANITY” PETER THIEL, FOUNDERS FUND #retailoasis
  20. 20. WE ARE MOVING FROM GLOBALISATION TO TECHNOLOGICAL PROGRESS - WHERE THE COMPETITION DON’T EVEN THINK OF THEMSELVES AS RETAILERS #retailoasis
  21. 21. “OUR VISION AT AMAZON IS TO BE THE WORLD’S MOST CUSTOMER-CENTRIC COMPANY. WE DON’T VIEW OURSELVES AS A BOOKSTORE OR A MUSIC STORE” JEFF BEZOS, FOUNDER/CEO #retailoasis
  22. 22. “THE EXPECTATION FOR GREAT CUSTOMER SERVICE IS BEING SET BY DIGITAL NOT STORE. FROM THE TOP DOWN WE LOOK AT THE DIGITAL POINT-OF-VIEW AND HOW THAT WILL EFFECT HER EXPERIENCE” REBECCA MINIOFF, FOUNDER/CEO #retailoasis
  23. 23. “TO WIN YOU NEED GREAT TECHNOLOGY AND THE BEST ENGINEERING TEAM” MIKE MCNAMARA, TARGET CIO #retailoasis
  24. 24. ⁃ Amazon Alexa in home ⁃ Warby Parker ⁃ Glossier ⁃ Outdoor Voices AMAZON ALEX @ CES
  25. 25. TITLE insert text here WITH ALEXA THERE IS “AN AMAZON CASH REGISTER IN EVERY HOUSE IN THE COUNTRY”
  26. 26. TITLE insert text here
  27. 27. TITLE insert text here GLOSSIER, NYC
  28. 28. WHAT THIS MEANS: DON’T DEFINE YOURSELF BY ‘RETAIL’ IF EVERYONE’S DOING IT THINK AGAIN INVEST IN TECH OVER ‘COPYING’
  29. 29. RETAIL-AS-A-SERVICE
  30. 30. pre-internet now emerging PRODUCT EXPERIENCE SERVICES
  31. 31. EMERGING MILLENNIAL GENERATION - NO NEED TO OWN MINDSET CONSCIOUS CAPITALISM THE SILICON VALLEY EFFECT ONLINE COMMODITISING PRODUCT + PRICE RETAIL-AS-A SERVICE
  32. 32. RENT THE RUNWAY
  33. 33. TITLE insert text here
  34. 34. This is taking where what's happening in tech and applying it to retail.
  35. 35. TRUNK CLUB
  36. 36. TITLE insert text here
  37. 37. TITLE insert text here
  38. 38. WHAT THIS MEANS: SMALLER STORE FOOTPRINT STORE AS SHOWROOM NOT PLACE OF PURCHASE DESIGN AROUND SERVICE NOT PRODUCT
  39. 39. REBIRTH OF CREATIVITY
  40. 40. WE LIVE IN A TIME OF COMMODITISATION. YOU CAN OVERCOME THIS THROUGH STRONG AND EDITED CREATIVE DIRECTION - OR SAID ANOTHER WAY NOT BEING EVERYTHING TO EVERYONE
  41. 41. “THE THING WE SELL AT OUR RESTAURANT IS AVAILABLE AT EVERY OTHER RESTAURANT…IF YOU’RE SELLING STUFF YOU’LL BE IN A COMMODITY HEAP. YOU NEED A FLAVOUR OR A THREAD - TO BE A GOOD EDITOR’ DANNY MEYER, CEO UNION SQUARE HOSPITALITY
  42. 42. TITLE BARNEY’S DOWNTOWN
  43. 43. TITLE LULULEMON LAB
  44. 44. TITLE insert text here
  45. 45. WHAT THIS MEANS: CREATIVE DIRECTION IS KEY NOT ALWAYS ‘MEASURABLE’ STAND FOR SOMETHING DON’T COPY
  46. 46. CONSCIOUS CAPITALISM RETAIL-AS- A-SERVICE SILICON VALLEY EFFECT REBIRTH OF CREATIVITY

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