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RetailOasis Big Breakfast 2017: Presentation

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All the presentations, in one place from RetailOasis 3rd Annual Big Breakfast - including:
- Steve Kulmar ( Founder, RetailOasis)
- Mark Teperson ( Digital Director, RCG)
- Rory Scott (GM - Strategy, Super Retail Group)
- Pippa Kulmar (Co-Director, RetailOasis)
- Darren Aquilina (GM - Marketing & Procurement, Thorn)

Published in: Retail

RetailOasis Big Breakfast 2017: Presentation

  1. 1. BIG BREAKFAST #retailoasis
  2. 2. NRF BIG SHOW & CES #retailoasis
  3. 3. CHALLENGE YOUR THINKING ON THE FUTURE OF RETAIL #retailoasis
  4. 4. MARK RORY PIPPA DJ RETAIL STRATEGY CONSUMER TECNOLOGY Q&A #retailoasis
  5. 5. WE TOOK IN THE BIG APPLE’S BEST RETAIL #retailoasis
  6. 6. VISITED THE NRF’S BIG SHOW #retailoasis
  7. 7. DISCUSSED LOTS OF BIG TOPICS #retailoasis
  8. 8. CURATING WITH CONFIDENCE #retailoasis
  9. 9. PERSONALISATION CURATING WITH CONFIDENCE #retailoasis
  10. 10. DE-COMMODITISATION PERSONALISATION CURATING WITH CONFIDENCE #retailoasis
  11. 11. DE-COMMODITISATION PERSONALISATION GETTING EMOTIVE CURATING WITH CONFIDENCE #retailoasis
  12. 12. GOT INSPIRED BY RICHARD BRANSON’S PHILOSOPHY: SCREW IT, JUST DO IT! #retailoasis
  13. 13. BUT THE BIGGEST TOPIC OF CONVERSATION WAS… #retailoasis
  14. 14. insert text here TITLE EMPOWERING THE SALES ASSOCIATE #retailoasis
  15. 15. insert text here TITLE “WE ARE TOTALLY RELIANT ON OUR ASSOCIATES”
 Greg Foran CEO, Walmart #retailoasis
  16. 16. insert text here TITLE “GREAT SALESMANSHIP WON’T CHANGE IN THE NEXT 5 YEARS”
 Terry Lindgren CEO, Macy’s #retailoasis
  17. 17. “ONE THING THAT WILL NEVER BE COMMODITISED IS PEOPLE”
 James Rees CEO, Ashley Stewart #retailoasis
  18. 18. insert text here TITLE NRF FOUNDATION ANNOUNCED RISE UP #retailoasis
  19. 19. THE BIG TOPIC WAS HOW TO EMPOWER YOUR GREATEST ASSETT #retailoasis
  20. 20. WHY? THEY ARE YOUR FIRST LINE OF DEFENCE AGAINST E-COMMERCE #retailoasis
  21. 21. THEY CAN DELIVER THE PERFECT RETAIL BRAND EXPERIENCE #retailoasis
  22. 22. #retailoasis BUT THEY NEED TO BE… 1. IDENTIFIED 2. DEVELOPED 3. EMPOWERED 4. REWARDED
  23. 23. #retailoasis THEY NEED TO BE EXPERTS IN DIGITAL & OMNI-CHANNEL
  24. 24. THEY NEED AT THEIR FINGERTIPS… DIRECT COMMS WITH CONSUMER ABILITY TO ADVISE & GUIDE REPORTING AND ANALYICS NEW PRODUCT INFO CUSTOMER PROFILING PURCHASE HISTORY #retailoasis
  25. 25. WITH THIS INFORMATION, SALES ASSOCIATES CAN BUILD SUSTAINABILITY RELATIONSHIPS WITH THEIR CUSTOMERS #retailoasis
  26. 26. #retailoasis THE FUTURE OF RETAIL IS NOT WHAT..IT’S WHO
  27. 27. BIG BREAKFAST: MARK RETAIL #retailoasis
  28. 28. Retail Distribution
  29. 29. It took Uber 5 years to book its billionth trip then… 6 months to book its 2nd billionth journey
  30. 30. Standalone "big box" stores Traditional Malls Local independant stores not in malls 38% 50% 59% 42% 53% 63% Source: Deloitte 2016 Holiday Survey (US) At which of these types of stores do you plan to shop this holiday season?” In the US, traffic to physical stores continues to decline… but, purchase intent is up
  31. 31. 2016 US$0 US$100 US$200 US$300 US$400 Top 8 US Retail Amazon US$355.9 US$298 Half of every additional dollar spent online in the US is with Change in market value 2006 vs 2016 (US$B) 25% 1,934%
  32. 32. follow the customer and you will never have to look for growth
  33. 33. brands that create extraordinary experiences achieve financial returns more than double the market = Physical Retail Digital Retail
  34. 34. imagination &courage
  35. 35. SOHO
  36. 36. SOHO visit store choose product sign-up & experience CRM DMP Ad-servers
  37. 37. of millennials78prefer to spend money on experiences over products %
  38. 38. customers willing to pay +20% more for personalisation
  39. 39. digital now influencing the majority of all retail transactions $295bn eCommerce Sales $1.8T digitally influenced sales
  40. 40. follow the customer and you will never have to look for growth
  41. 41. BIG BREAKFAST: RORY STRATEGY #retailoasis
  42. 42. TITLE insert text here STRATEGIC SHIFTS AND GROWTH
  43. 43. HOW ARE BUSINESSES CONTINUING TO GROW?
  44. 44. THE UNDERPINNERS THE ENGINE • Seek to understand the customer • Help them achieve their personal goals • Optimal efficiency and rigorous measurement • Profit is still a goal • The best engines might be complex to make but are simple and elegant to use
  45. 45. THE BIG SHIFTS
  46. 46. generation technology retail environment boomers millennials capitalism conscious capitalism ecosystems start-up omni big box
  47. 47. UNDERSTAND PURPOSE Purpose sets your world, it should be where you and your customers agree to play. It’s as wide as you want it to be - provided you operate with authenticity and permission
  48. 48. TITLE insert text here
  49. 49. TITLE insert text here
  50. 50. NORDSTROM'S COMMITMENT In store or online, wherever new opportunities arise, Nordstrom works relentlessly to give customers the most compelling shopping experience possible. The one constant? John W. Nordstrom's founding philosophy: offer the customer the best possible service, selection, quality and value.
  51. 51. NORDSTROM FOCUS Trunk Club Nordstrom Cares One on one customer communication Accelerator models
  52. 52. DRIVE SUSTAINABILITY Sustainability is about paying attention to community standards and then choosing to lead or when to participate in the related changes Your customers would prefer you be responsible than give them a loyalty program Waste is a key concern, from plastic in landfill to unutilised assets, find a way. Be consistent with your own brand and reputation Don’t greenwash!
  53. 53. from: take to: give take a position share-holder oriented stakeholder alignment (SPICE) create a purpose sell a product promote a higher ideal do business with anybody (demographic) do business with ‘believers’ (psychographic) CSR responsible business CREATING A LARGER BUSINESS SHIFT:
  54. 54. insert text here
  55. 55. BE LOCAL The cookie cutter doesn’t help your customer enjoy your company Recognise you are part of the community you are located within Customers remember difference and effort
  56. 56. TITLE insert text here
  57. 57. BE PERSONAL Don’t shout, have a conversation. Your customer will answer your questions for as long as you show you are listening. Customise where you can Listen, you might learn something
  58. 58. TITLE insert text here
  59. 59. DON’T CARRY STOCK, CARRY SOLUTIONS Talk to your customer, would they exchange ‘possibly have it now’ for ‘certainty at an agreed time’. Endless aisle is endlessly irritating Offer services to help both of you
  60. 60. TITLE insert text here Trunk Club Bonobos
  61. 61. ‘channels are a language retailers speak to justify what they’re spending on IT. It’s not understood by the customer’ Sir Charlie Mayfield, Chairman, John Lewis Partnership
  62. 62. WHAT THIS MEANS: leverage creator consumer engage with the consumer before store or purchase embrace the changing role of the store
  63. 63. BEING LOVED IS KEY AND MEASURABLE
  64. 64. BIG BREAKFAST: PIPPA CONSUMER #retailoasis
  65. 65. CONSCIOUS CAPITALISM RETAIL-AS- A-SERVICE SILICON VALLEY EFFECT REBIRTH OF CREATIVITY
  66. 66. CONSCIOUS CAPITALISM
  67. 67. “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
  68. 68. “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
  69. 69. 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
  70. 70. TITLE insert text here REFORMATION, SOHO
  71. 71. TITLE insert text here #retailoasis
  72. 72. “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
  73. 73. TITLE insert text here WHOLEFOODS, BKLN
  74. 74. WHO’S DOING IT WELL? WHOLEFOODS AND GOTHAM GREENS #retailoasis
  75. 75. “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
  76. 76. TITLE insert text here SWEETGREEN
  77. 77. WHO’S DOING IT WELL? SWEET GREENS #retailoasis
  78. 78. 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
  79. 79. THE SILICON VALLEY EFFECT #retailoasis
  80. 80. 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
  81. 81. “WHEN LOTS OF PEOPLE ARE TRYING TO DO THE SAME THING THAT’S THE DEFINITION OF INSANITY” PETER THIEL, FOUNDERS FUND #retailoasis
  82. 82. WE ARE MOVING FROM GLOBALISATION TO TECHNOLOGICAL PROGRESS - WHERE THE COMPETITION DON’T EVEN THINK OF THEMSELVES AS RETAILERS #retailoasis
  83. 83. “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
  84. 84. “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
  85. 85. “TO WIN YOU NEED GREAT TECHNOLOGY AND THE BEST ENGINEERING TEAM” MIKE MCNAMARA, TARGET CIO #retailoasis
  86. 86. ⁃ Amazon Alexa in home ⁃ Warby Parker ⁃ Glossier ⁃ Outdoor Voices AMAZON ALEX @ CES
  87. 87. TITLE insert text here WITH ALEXA THERE IS “AN AMAZON CASH REGISTER IN EVERY HOUSE IN THE COUNTRY”
  88. 88. TITLE insert text here
  89. 89. TITLE insert text here GLOSSIER, NYC
  90. 90. WHAT THIS MEANS: DON’T DEFINE YOURSELF BY ‘RETAIL’ IF EVERYONE’S DOING IT THINK AGAIN INVEST IN TECH OVER ‘COPYING’
  91. 91. RETAIL-AS-A-SERVICE
  92. 92. pre-internet now emerging PRODUCT EXPERIENCE SERVICES
  93. 93. EMERGING MILLENNIAL GENERATION - NO NEED TO OWN MINDSET CONSCIOUS CAPITALISM THE SILICON VALLEY EFFECT ONLINE COMMODITISING PRODUCT + PRICE RETAIL-AS-A SERVICE
  94. 94. RENT THE RUNWAY
  95. 95. TITLE insert text here
  96. 96. This is taking where what's happening in tech and applying it to retail.
  97. 97. TRUNK CLUB
  98. 98. TITLE insert text here
  99. 99. TITLE insert text here
  100. 100. WHAT THIS MEANS: SMALLER STORE FOOTPRINT STORE AS SHOWROOM NOT PLACE OF PURCHASE DESIGN AROUND SERVICE NOT PRODUCT
  101. 101. REBIRTH OF CREATIVITY
  102. 102. 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
  103. 103. “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
  104. 104. TITLE BARNEY’S DOWNTOWN
  105. 105. TITLE LULULEMON LAB
  106. 106. TITLE insert text here
  107. 107. WHAT THIS MEANS: CREATIVE DIRECTION IS KEY NOT ALWAYS ‘MEASURABLE’ STAND FOR SOMETHING DON’T COPY
  108. 108. CONSCIOUS CAPITALISM RETAIL-AS- A-SERVICE SILICON VALLEY EFFECT REBIRTH OF CREATIVITY
  109. 109. BIG BREAKFAST: DJ TECHNOLOGY #retailoasis
  110. 110. BEST OF CES 2017
  111. 111. 2.5 million sq feet of exhibit space 140 countries represented 177,000+ attendees (+7K from last year) 580 exhibitors in Eureka Park 25,000 new products will launch 53,000+ international attendees
  112. 112. Self-Driving Cars Virtual Reality / Augmented Reality1 2 3 4 KEY THEMES OF CES 2017 Screens Smart Everything
  113. 113. OSSIC X - First headphones designed for VR - Markes music and sound appear to ‘move’ as you turn your head
  114. 114. - Only smartphones to feature Google Tango Technology - Sensors convert a room into a virtual playspace - US$733-$1,333
  115. 115. - Turns any couch or chair into a cockpit - Matches with home theatre, music, VR
  116. 116. Razor Project Valerie - Triple display laptop - still in prototype phase - 3x17” displayed designed for gaming. 108 degree wraparound experience
  117. 117. - Hear One: World’s first in- ear computer - Designed to be worn all day, connects to AI personal assistant and dynamic translation - US $299 pre-order
  118. 118. - Automated craft-beer brewing machine - At-home craft beer that ‘you’d actually enjoy drinking’ - US$549.99 pre-order
  119. 119. - World’s first wearable blood alcohol sensor - Inc. Socially enabled mobile app to see ‘who’s partying the hardest’ - US$99
  120. 120. Hair Coach - L’areal & Withings - a hair advisor in brush form - Trains you to improve brushing technique by vibrating when stroked too hard - US$200
  121. 121. Kissenger - World’s first mobile kiss messenger - Kiss loved ones even when you’re physically apart.
  122. 122. THEN (90s) NOW (00s) NEXT (20s) INFORMATION AGE INTERACTIVE AGE IMMERSIVE AGE connected computers allowed those who controlled knowledge to dominate connected devices allowed those creating compelling experiences to rule advancements allow those who push reality to be seen as leaders
  123. 123. 1 2 3 4 5 Progression Acceleration Trust Integrate Innovate LEARNINGS
  124. 124. Q&A #retailoasis www.retailoasis.com
  125. 125. JOIN US IN NYC 2018 JAN 10-16TH email: enquire@retailoasis.com
  126. 126. THANK YOU #retailoasis www.retailoasis.com

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