Lancaster University eXtraordinaire proposes solutions to address the declining performance of the UK department store market. The strategy focuses on rebranding, improving the customer experience through innovative online and offline services, targeting the emerging technical middle class customer segment, and developing key partnerships. Financial forecasts estimate the strategy could generate over £930 million in annual revenue and expand the business to 75 stores.
Factors influencing Customer Loyalty for Global and Domestic E-Retailers in R...Kseniia Udovitskaia
Today e-retailers operate on a highly competitive market. Customers can switch to another website with only a click of a mouse. Loyal customers become a major company asset who can generate recurring profits and create positive word-of-mouth to drive sales. Understanding which factors predominantly affect customer loyalty on the Internet is essential for e-commerce players. On a global scale consumer electronics are the second largest online purchasing category after “books and music”. Russian consumer electronics market is one of the fastest growing and promising. This paper is aimed to investigate factors affecting e-loyalty for online consumer electronics stores using example of two market leaders – M.video and Mediamarkt. Principal method of research is online survey focusing on importance and content of a customer base with various e-satisfaction, e-trust and e-loyalty factors. We proposed and tested 6 hypotheses in order to identify the correlation between loyalty factors.
Factors influencing Customer Loyalty for Global and Domestic E-Retailers in R...Kseniia Udovitskaia
Today e-retailers operate on a highly competitive market. Customers can switch to another website with only a click of a mouse. Loyal customers become a major company asset who can generate recurring profits and create positive word-of-mouth to drive sales. Understanding which factors predominantly affect customer loyalty on the Internet is essential for e-commerce players. On a global scale consumer electronics are the second largest online purchasing category after “books and music”. Russian consumer electronics market is one of the fastest growing and promising. This paper is aimed to investigate factors affecting e-loyalty for online consumer electronics stores using example of two market leaders – M.video and Mediamarkt. Principal method of research is online survey focusing on importance and content of a customer base with various e-satisfaction, e-trust and e-loyalty factors. We proposed and tested 6 hypotheses in order to identify the correlation between loyalty factors.
Retailers should note and adjust to five trends shaping the consumer experience: A 2nd big bang is taking shape and concerning personal and domestic equipment products; Smart phones are taking over the shopping experience; consumers "channel-surf" with increasing ease; Social is becoming a critical part of the buying journey; Big Data excellence is a critical capability for growth.
NRF 2019 has confirmed that online and offline experiences are becoming one, putting the consumer at the center of all retail practices. In this report, we decode the main takeaways from NRF 2019.
Discover what the Retail industry will look like in years to come!
A marketing case study on Best Buy, a leading electronics retailer.The presentation focuses on initial challenges faced and the strategies adopted by the company to gain advantage over other emerging competitors.
The Store Experience Design Debrief by PSFK outlines the major pillars that retailers will need to leverage to hone their store experience over the next decade and design physical stores to encourage visits, engage shoppers and complement the hybrid nature of retail today. This report is part of a series of reports focusing on retail innovation and customer experience to inspire the members of our business intelligence services.
For a copy of this report, please visit: psfk.com/store-design-debrief
Slides presented at RigaComm2018. How B2B buyers buy, elements of strategy, buyers journey, managing marketing and sales pipeline.
Rolands Ozolins is a business growth strategist, co-founder of IBD Consulting.
Gift Cards, Vouchers and Digital Gift Cards: UK and USA trendsettersHeather Wagstaff
A presentation by Andrew Johnson, CEO National Gift Card Corp, Europe, at the 6th International Gift Card and Couponing Summit in Frankfurt (September 2015).
Engaging Chinese Consumers With Digital Platforms- Pete Mitchley-Hughes and C...Thoughtworks
ThoughtWorks helped Myer to uncover and validate the Chinese consumer market by researching, building and delivering a digital engagement platform. Myer is now growing the channel, on a journey to become 'the' shopping destination for Chinese consumers.
The Shopper Data Debrief by business intelligence service PSFK outlines how retailers can leverage new tools to capture shopper data in the physical store, creating a mutually beneficial value exchange that allows them to refine operations and offer a more personalized in-store experience. This report is part of a series of reports focusing on retail innovation and customer experience to inspire the members of our business intelligence services.
For a copy of this report, please visit: psfk.com/shopper-data-debrief
Consumer Reap the Rewards of Prepaid Gift CardsFirst Data
Michael Hursta, VP of Prepaid, at First Data shares his insights into the gift card industry and where it's heading as consumers search for mobile options.
Retailers should note and adjust to five trends shaping the consumer experience: A 2nd big bang is taking shape and concerning personal and domestic equipment products; Smart phones are taking over the shopping experience; consumers "channel-surf" with increasing ease; Social is becoming a critical part of the buying journey; Big Data excellence is a critical capability for growth.
NRF 2019 has confirmed that online and offline experiences are becoming one, putting the consumer at the center of all retail practices. In this report, we decode the main takeaways from NRF 2019.
Discover what the Retail industry will look like in years to come!
A marketing case study on Best Buy, a leading electronics retailer.The presentation focuses on initial challenges faced and the strategies adopted by the company to gain advantage over other emerging competitors.
The Store Experience Design Debrief by PSFK outlines the major pillars that retailers will need to leverage to hone their store experience over the next decade and design physical stores to encourage visits, engage shoppers and complement the hybrid nature of retail today. This report is part of a series of reports focusing on retail innovation and customer experience to inspire the members of our business intelligence services.
For a copy of this report, please visit: psfk.com/store-design-debrief
Slides presented at RigaComm2018. How B2B buyers buy, elements of strategy, buyers journey, managing marketing and sales pipeline.
Rolands Ozolins is a business growth strategist, co-founder of IBD Consulting.
Gift Cards, Vouchers and Digital Gift Cards: UK and USA trendsettersHeather Wagstaff
A presentation by Andrew Johnson, CEO National Gift Card Corp, Europe, at the 6th International Gift Card and Couponing Summit in Frankfurt (September 2015).
Engaging Chinese Consumers With Digital Platforms- Pete Mitchley-Hughes and C...Thoughtworks
ThoughtWorks helped Myer to uncover and validate the Chinese consumer market by researching, building and delivering a digital engagement platform. Myer is now growing the channel, on a journey to become 'the' shopping destination for Chinese consumers.
The Shopper Data Debrief by business intelligence service PSFK outlines how retailers can leverage new tools to capture shopper data in the physical store, creating a mutually beneficial value exchange that allows them to refine operations and offer a more personalized in-store experience. This report is part of a series of reports focusing on retail innovation and customer experience to inspire the members of our business intelligence services.
For a copy of this report, please visit: psfk.com/shopper-data-debrief
Consumer Reap the Rewards of Prepaid Gift CardsFirst Data
Michael Hursta, VP of Prepaid, at First Data shares his insights into the gift card industry and where it's heading as consumers search for mobile options.
The purpose of strategic planning
The purpose of strategic planning is to set overall goals for your business and to develop a plan to achieve them. It involves stepping back from your day-to-day operations and asking where your business is headed and what its priorities should be.
Strategic planning is intended to accomplish three important tasks:
to clarify the outcomes that an organization wishes to achieve;
to select the broad strategies that will enable the organization to achieve those outcomes;
to identify ways to measure progress
Electronic commerce (ecommerce) is a type of business model, or segment of a larger business model, that enables a firm or individual to conduct business over an electronic network, typically the internet
Case study: Square Meal - How to use Intelligent Data to Implement Successful...Emarsys
This slide share presents the benefits of using intelligent data to implement successful recommendation campaigns. Looking specifically at email and web recommendations highlighting the benefits personalisation can provide when delivering the right message to the right person at the right time.
Retail Site Selection in a World of Digital TransformationPrecisely
The need for intelligent data-driven decisions on site selection has just received a turbo-charge, and the risk profile of making the wrong decision is now increased. Discover the fundamental data, analytical methods and insights needed to locate high-performing sites regardless of the retail industry segment. To optimize doesn’t always mean to grow; it can also mean identifying where to reduce physical investment and drive channel shift strategies. Learn how to make such data-driven retail decisions in the current, complex environment.
A presentation on the latest concepts and trends and how the affect consumer behavior and marketing strategy. References to interesting examples and sources.
Enhancing the Retail Omnichannel Customer ExperienceSPS Commerce
Our recent webinar slides, featuring Todd Kozan, ebusiness and channel strategy consultant with Forrester, and Pete Zaballos, vice president of marketing at SPS Commerce, on Enhancing the Retail Omnichannel Customer Experience, reported on findings from Forrester’s study of consumers and retailers about omnichannel.
Whole-Brained Marketing -- Blending Data Science with Creativity & ActionAileen Cahill
Breakthrough Marketing Begins With Data
Size Doesn’t Matter! “Big-Data” or small, Customer Relationship Marketing (CRM) all begins with data. And, it’s how you use that data that will set you apart from your competition; driving customer loyalty and your profits.
There’s truly gold in that data and mining it for customer insights is the first step toward marketing with much greater impact and return on investment. From precision targeting, to more relevant messaging and having the omnichannel insights customers and consumers expect, integrating and mining data is where breakthrough marketing begins.
Customer’s and consumers are in the driver’s seat! With complete information at their fingertips and numerous choices, “one size fits all” marketing has gone the way of the dinosaur. The technology for capturing, integrating and harnessing the data is prevalent. “Addressability at Scale” and personalization are the new marketing mantra.
Using Digital Tactics in Retail to drive growth. Growth in Retail is going to come from the digital E-commerce sector. Here are some ways in which high street retailers can take advantage of this growth for their own business.
Companies need to understand the full range of the multichannel consumer decision journey to understand how to best influence potential and current customers. Scenarios and data from this McKinsey presentation show how consumers are making their decisions today - particularly in the UK and France - and how brands can turn those insights into profits.
The connected shopper. Fallacy fad or reality?Simon Etchells
Does the connected shopper really exist? Is ominchannel a trend or the future?
As the line between physical and digital begins to blur, what is the role, relevance and importance of the various channels in “omni channel”? With examples, case studies and insights I explore what the connected shopper paradigm means for now and the future.
Consumer Behaviour: The Changes you Need to Know About and How to RespondIncubeta NMPi
NMPi's Head of Strategy, Damien Bennett, recently did a talk at Marketing Week Live on Consumer Behaviour. This presentation focuses on 3 main areas: the increasingly complex customer journey, greater consumer expectations, and changes in the customer's interactions with brands.
2. BUSINESS OVERVIEW
1 2
• redundancies
• lack of technological
skills
Strategy Finance
Lancaster
University
eXtraordinaire
Marketing People
• loss of shareholders’
confidence
• loss of market value
• lack of clear vision
• poor competitor
analysis
• untargeted marketing
• poor customer
relationship
2
LHS revenue UK Department store market
2010 2011 2012 2013 2014
Growth
rate
+21.4%
Sources: case scenario, Verdictretail.com, team’s expertise
5.9m fewer Department store shoppers
than five years ago
21.4% Department store market
growth in five years
931mestimated annual
revenue
128 Department stores
on the UK market
Timeline
Revenue
201420132012
rebranding
3. 3
TARGET AUDIENCE (CHOICE?)
Sources: The Barclaycard Consumer Spending Report Q3 2014, retailweek.com, Sociology Journal
Lancaster
University
eXtraordinary
Top social classes at the UK: HOW DO
THEY SHOP?
WHAT DO
THEY BUY?
ONLINE/MOBILE
INCREASING
SPENDING
WITH FAMILIES
CONVENIENCE
ELECTRONICS
CLOTHING
SPORTING
GOODS
TOYS
SHOP AT:
ELITE6%
SHOP AT:
ESTABLISHED
MIDDLE CLASS25%
GROWING!
NO TARGETED
DEPARTMENT
STORE!
TECHNICAL
MIDDLE CLASS6%
4. 4
SOLUTION
Lancaster
University
eXtraordinary
Electronics
Fashion
Toys
Sporting Goods
Food
Furniture
Gardening
Hardware
Categories
21,8%
19,3%
Spending Growth Rate
Sources: Barclaycard Consumer Spending Report 2015
“To provide superior shopping
experience by blending online
and offline innovative services”
• Change Management Program (Deloitte)
• Customer Service Training
• IT Skills Training
• Employee Engagement Survey (TinyPulse)
• Enterprise Social Network (IBM Connection)
• ESOP (Employee Stock Option Plan)
• Personal Development Program
• Intensive Induction
• Mentoring Program
• Employee Award
Engaged
Employees
Beacon Virtual
Fitting
Room
Entertainment
Hub
Kids
Zone
Online
Shopping
Tailored Location-
Based Services
Mobile Apps
• Personalized Shopping
• Check-out 2.0
• On-demand Customer
Services
5. 5
REVENUE FORECAST
Sources: Verdictretail.com, BSA Sociology journal, team’s expertise
Lancaster
University
eXtraordinaire
x60m 6% £37k 33.7% 20% 5%x x x x = 454m
UK
population
Technical
middle class
Ave. annual
revenue
Spending in
LHS products
Actual
purchases
from LHS
Target
market
share
x60m
25
%
£47k 33.7% 20% 1%x x x x = 477m
Established
middle class
Σ = 931m
4% 96%
Online presence Offline presence
8. 8
MARKETING STRATEGY
Sources: case scenario, Digital Marketing Institute UK, team’s expertise
Lancaster
University
eXtraordinaire
REACH ACT CONVERT ENGAGE
far from store near store in store far from store
ONLINEOFFLINE
SEO
optimization
Targeted
advertising
PR
in media
PR through
partners
Social networks
E-mail
marketing
Store
Events
Local
advertising
Electronic
commerce
App Promotions
Store
Promotions
POS
materials
Social
networks
E-mail
marketing
CSR
activities
Word of
mouth
9. 9
COMPETITORS & PARTNERS
₊ Strong supplier relationship
₊ High quality
₊ Outstanding customer services
₊ Steady profit growth
₊ Transactional website
₊ Celebrity endorsement
• More choices offering loans
to buy
• More options for smaller city
citizens collection point
• Virtual online fitting room
• Tailored location-
based services
• Virtual fitting room
• Entertainment hub
• Kids zone
• Open cinema
PARTNERSHIP
• Delivery company (Doddle)
• Universities (e.g. Lancaster)
• Mobile operator (Vodafone)
• Local taxis (Uber, etc.)
• CSR (sponsor tech oriented events)
• High tech companies (Google,
Sony etc.)
ONLINE OFFLINE
1
2 3
Lack of technology integration service
Lancaster
University
eXtraordinaire
Sources: official websites, team’s expertise
10. UNIVERSITIES
LOCAL
BUSINESSES
TO PROVIDE
SUPERIOR
SHOPPING
EXPERIENCE BY
BLENDING
ONLINE AND
OFFLINE
INNOVATIVE
SERVICES
EMERGING
TECHNICAL
MIDDLE CLASS
ESTABLISHED
MIDDLE CLASS
ONLINE SALES
OFFLINE SALES
MARKETING
RELATIONSHIPS
74 STORES
ENGAGED STAFF
TECH
ADVANCEMENT
PERSONOLISED
CUSTOMER
FOCUSED
DIGITALISED
REACH
ACT
CONVERT
ENGAGE
KEY PARTNERS KEY ACTIVITIES
KEY RESOURCES
VALUE
PROPOSITION
CUSTOMER
RELATIONSHIPS
CUSTOMER
SEGMENT
PROMOTION
CHANNELS
CASH OUTFLOW CASH INFLOW
£940,100,000£131,600,000
IN A NUTSHELL (BUSINESS MODEL)
12. 12
51%
55%
24%
47%
22%
36%
42%
48%
32%
45%
43%
80%
55%
56%
63%
63%
65%
75%
Compare prices with
other stores
Find a coupon or
coupon code
Purchase a product
Read customer product
review
Check status of an order
Locate a store or check
store hours
At home On the go In store while shopping
Where have you used your smartphone
to perform the following shopping-
related activities in the past month?
MOBILE SHOPPING (1 of 2)
Sources: Forrester – The state of mobile apps for retailers / retailmenot.com
0.03
0.1
0.27
0.39
0.21
>10
6-10
3-5
1-2
0
How many retailer apps do
you have on your phone?
2%
5%
14%
20%
21%
31%
40%
57%
63%
Other
Entartainment
Opportunities
Better deals
Personalised content
Benefits for using
Settings stored
Faster
More convenient
Why do you prefer using app
to using website?
Lancaster
University
eXtraordinaire