Retail Industry point of of view on the challenges, implications and best ways to mitigate.

1. We’ll
glance
into
a
few
of
the
most
cri3cal
challenges,
implica3ons
and
ac3ons
that
retailers
must
address
over
the
next
few
years…
When
you
look
at
the
Retail
landscape
it’s
robust
and
ever
changing
due
to
the
consumer
and
market
demands-­‐-­‐
POV
Retail
Industry
Outlook
Tabitha
Vickers

2. Even
with
prepara3on
and
planning
today,
retailers
can
expect
the
following
most
cri6cal
challenges
by
2020:
Advancing
with
technological
innova6ons
Aligning
behavior
to
the
customer
experience
Delivering
value
through
all
channels
• Mobile
plaGorms,
NFC,
smart
sensors,
and
social
media
• Loyalty
and
CRM
plaGorms
• POS
system
upgrades
and
tools
• Segmenta3on
• Personas
and
influencers
• Data
and
insights
• Privacy/regula3ons/
security
• Omni-­‐channel
presence
• E-­‐Commerce
vs.
Brick
and
Mortar
experience
• Supply
chain
• Processes
and
people
FACTORS:
2

3. Only
40%
of
companies
consistently
track
what
happened
during
customer
interac3ons
with
their
business.
Source: Forrester Measure Customer Experience Success
Base 100 Customer Experience Professionals
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4. To
maintain
a
compe33ve
advantage,
business
implica3ons
of
these
challenges
suggest
the
following:
Aligning
behavior
to
the
customer
experience
Retailers
must
stay
innova6ve
in
their
ability
to
integrate
technology
plaHorms
to
draw
insights
from
analy3cs,
social
networks
and
loca3on-­‐based
soVware.
They
must
also
invest
in
secure
ways
to
protect
their
informa6on.
Retailers
should
use
the
data
of
their
consumers
to
draw
insights
based
on
their
learnings
and
predic6ons
about
the
purchasing
behavior
and
influences
that
drive
the
consumer’s
decisions
and
cart
value.
Retailers
must
maintain
a
360
view
of
the
customer
experience
by
ensuring
all
channels
are
integrated
and
can
deliver
the
proper
value,
service,
or
goods.
Ul3mately,
they
should
strive
towards
a
fric6on-­‐
less
experience.
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5. Therefore,
to
best
address
these
challenges
agencies
must
be
prepared
to…
Use
the
appropriate
analy6c
tools
and
measures
to
drive
insights
and
build
rela6onships.
Maintain
a
constant
refresh
of
data
and
insights.
Evolve
supply
chain
opera6ons
into
real-­‐6me
view
of
orders.
Break
down
demand
silos
and
forecast
based
on
unified
consumer
behavior,
preferences
or
paUerns.
(Ex:
Personas,
Customer
journey
mapping)
Innovate
on
communica6ve
technologies
to
beUer
understand
the
consumer
and
their
purchase
decisions.
(Ex:
Beacons,
wearables,
interac6ve
store
displays)
Educate
retail
employees
and
equip
them
with
the
tools
to
become
solu6on
drivers.
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6. Ques6ons?
www.tabithavickers.com
Tabithavickers@yahoo.com
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