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RetailOasis 'Big Breakfast' Presentation - Mark Teperson, RCG Corporation

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A wrap-up of the National Retail Federation's Big Show and NYC stores from the perspective of one of Australia's best digital minds.

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RetailOasis 'Big Breakfast' Presentation - Mark Teperson, RCG Corporation

  1. 1. TITLE insert text here Digital Trends: Transforming Retail Mark Teperson Director Mul5channel RCG Corp Ltd
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  3. 3. TITLE insert text here A"tude towards change Two truths, one mantra ‘Without passion, we are just unfulfilled poten9al’ ‘The relentless pursuit of excellence’
  4. 4. 5 Key Themes Today 1.  Technology @ Retail 2.  Challenging the store network 3.  Organisa:onal change 4.  Intersec:on of content & commerce 5.  Customer loyalty (community)
  5. 5. TITLE insert text here THE FUTURE IS HERE. It’s just not evenly distributed yet
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  7. 7. TITLE insert text here Three Key Ques+ons That should drive technology @ retail 1.  What is the unmet need of the consumer? 2.  How can technology meaningfully solve this unmet need or enhance the experience for a consumer? 3.  Is the experience contextually relevant?
  8. 8. TITLE insert text here Large mirrored panel at the front of the store, where customers can; §  Browse the latest looks §  Shows ‘what to wear it with’ §  Select items to be brought to change room Does this meaningfully enhance the consumers experience? Is it contextually relevant?
  9. 9. TITLE insert text here Beacons automa,cally iden,fy product placed in change room §  Shows ‘what to wear it with’ §  Select alternate size to be brought to change room §  Change ligh,ng to reflect different se@ngs (night, day, club) §  Order beverages §  Complete checkout; or §  Add items to your app automa,cally so you can purchase later
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  11. 11. TITLE insert text here Follow the customer & you will never have to look for growth
  12. 12. TITLE insert text here Department Store: Inves0ng heavily in store experience and digital commerce to fuel growth. Origina(ng with first store in mid 1800’s in Oxford Street, London. Today it has 45 stores in the UK. In 2015, 40% of John Lewis total revenue (£1.5bn) was generated through online channels.
  13. 13. TITLE insert text here Pure Play: Inves.ng in retail ‘Guideshops’ Holds no physical inventory in- store. Only TRYON sizes. Try it on before you buy at one of their Guideshops. No crowds. One-on-One service. Exactly what you want, delivered right to your door.
  14. 14. Specialty Retail: Reducing the tradi3onal store footprint. Leveraging distribu3on networks and centralised inventory. Holds no physical inventory in- store. Only TRYON pairs. Shop in store: FREE overnight shipping Shop Online: Free ground shipping
  15. 15. Why is this important for retailers? Improve inventory efficiency (Centralize inventory) Reduce markdowns Reduce retail footprint (size & number of stores) Increase investment in store experience Leverage digital channels to extend reach of your market Strategy Impact Reduce markdowns Improve margins Reduce premium rentals & eliminate unprofitable stores Grow consumer engagement & sales Grow sales & profits
  16. 16. TITLE insert text here Does your organisa-on have the capability to change?
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  18. 18. TITLE insert text here Capability Pla+orm Talent §  Specialist exper/se §  Transforma/onal exper/se §  Vision & Ownership Culture §  Execu/ve leadership & commitment §  Collabora/on & partnership §  Shared KPIs, Incen/ves & Goals §  Customer lead decisions (data driven) Structure §  Dedicated internal resources §  Shared responsibili/es and orchestrated hand off’s §  Cross discipline teams, doHed lines & hybrid roles
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  20. 20. TITLE insert text here The new, non-linear purchase journey ! The journey is now! Dynamic The journey is more! Influenced The journey is! Continuous
  21. 21. TITLE insert text here Content Commerce Contextually relevant content is driving commerce BREAK IT DOWN Mobile Apps Tablet / Desktop Retail Social Email Blog Channels Browse Research Inspira0on Considera0on Purchase Post Purchase Returns Rewards Advocacy Behaviours
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  23. 23. TITLE insert text here Customer Loyalty Trends Content Commerce Community •In a clu)ered market value exchange is more important than ever before •Personalisa9on is a Hygiene Factor •Shi/ from product cycles to consumer lifecycle engagement •Not how loyal you are to us. It is how loyal we are to you •Membership Spectrum (SAPS: Status Access Power Stuff) •Kudos economy
  24. 24. TITLE insert text here Follow the customer with the relentless pursuit of excellence & you will never have to look for growth

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