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Playing to Win the Retail Holiday Season: Strategies to Increase In-Store Traffic and Sales презентация
Содержание
- 1. Playing to Win the Retail Holiday Season: Strategies to Increase In-Store Traffic and Sales
- 2. © © RevTrax 2014. All trademarks
- 3. © © RevTrax 2014. All trademarks
- 4. Playing to Win the Retail Holiday Season:
- 5. “The pace of change is accelerating faster
- 6. Mobile connects us wherever we go
- 7. Firms are NOT set up for success
- 8. Footfall to European retail outlets in decline:
- 10. Agenda How customer behavior continues to evolve…quickly
- 11. This year, 52% of all US retail
- 12. Holiday online sales continue to grow
- 13. 73% - expect to click and collect
- 14. 19% 70% An Engaging
- 16. Younger shoppers check price in-aisle Source: Forrester’s
- 17. Agenda How customer behavior continues to evolve…quickly
- 18. Today
- 19. Enterprise inventory visibility and store fulfillment lead the pack
- 20. 75% of customers are likely to
- 21. . . . however, more than one-third
- 22. Ikea exposes the supply chain
- 23. Learn Assist Buy Operate The associate facilitates engagement
- 24. 66% of luxury shoppers more likely
- 25. The Future
- 26. The Store As A Platform Analytics OMS POS CRM Ops Source - https://www.flickr.com/photos/statefarm/
- 27. Location Context Grows In Importance Source: https://www.flickr.com/photos/pr9000/
- 28. The store becomes theater
- 29. Source: Mirande Prynne, “Variable price tags being
- 30. The store becomes social
- 31. Promises delivery two full days quicker than before The store drives service
- 32. Data will need to transform into insights. Image source: Bizj (http://media.bizj.us/view/img/849021/retailnext-kinetic-heat-map*304.png)
- 33. Agenda How customer behavior continues to evolve…quickly
- 34. 2014 Holiday Best Practices Pay attention to
- 35. 1. Pay Attention to Price Dynamic
- 36. The store “premium” isn’t large How much
- 37. 2. Channel Integration Is Expected The
- 38. 3. The Store Experience Matters Focus
- 39. Associates = tour guides
- 40. 4. Think Mobile Now The future
- 41. Mobile is a bigger part of holiday
- 42. Mobile buying is growing during key time
- 43. 5. Win On Key Days This
- 44. Growth On Key Holiday Sales Dates Continues To Outpace Overall Holiday Growth
- 45. 6. Leverage Data Leverage new in-store
- 46. +30% — same store sales growth -16% — shrink
- 47. Adam Silverman +1 415.294.8177 asilverman@forrester.com @AdamKSilverman
- 48. © © RevTrax 2014. All trademarks
© © RevTrax 2014. All trademarks and service marks herein are the property of RevTrax, Forrester, Inc., or their respective clients and may not be used without their prior written
Слайд 2
©
© RevTrax 2014. All trademarks and service marks herein are the
property of RevTrax, Forrester, Inc., or their respective clients and may not be used without their prior written consent. All rights reserved.
Слайд 3
©
© RevTrax 2014. All trademarks and service marks herein are the
property of RevTrax, Forrester, Inc., or their respective clients and may not be used without their prior written consent. All rights reserved.
RevTrax
To Securely Prove and Optimize Digital Promotion Effectiveness
Слайд 4Playing to Win the Retail Holiday Season: Strategies to Increase In-store
Traffic and Sales
Adam Silverman, Principal Analyst
October 8th, 2014
Слайд 5“The pace of change is accelerating faster than anticipated a year
ago.”
— Blake Nordstrom,
president of Nordstrom
April 2014
Слайд 7Firms are NOT set up for success
74%
…of businesses think they have
a digital strategy.
34%
…of executives think their firm has the right strategy.
16%
…of executives believe their firm has the skills and resources necessary to deliver.
Source: Forrester / Russell Reynolds 2014 Digital Business Online Survey
Слайд 8Footfall to European retail outlets in decline:
Germany: -6.4%
Italy: -6.2%
UK: -2.9%
Spain:
-3.1%
Source: Forrester; “While Retail Footfall decreases, digital influence on Consumer shopping Behavior increases” 2/26/14
Слайд 10Agenda
How customer behavior continues to evolve…quickly
The retail response – today and
in the future
Recommendations for Holiday 2014
Recommendations for Holiday 2014
Слайд 1373% - expect to click and collect
86% - expect to return
online orders in the store
89% - expect to view the in-store inventory of products online
89% - expect to view the in-store inventory of products online
A commissioned Forrester study with Purolator, May 2014
Customers have high expectations when it comes to channel integration
Слайд 14
19%
70%
An Engaging Brand Is Important To Me
The Store Associate Is The
Best Resource For Information
Source: NA Technographics Customer Lifecycle Buy Phase Q1 2012 and NA Technographics Customer Lifecycle Discover Phase Q3 2102
Слайд 16Younger shoppers check price in-aisle
Source: Forrester’s North American Consumer Technographics Retail
Survey, 2014. Base: 5007 US online Adults (18+). Image source: https://www.flickr.com/photos/kdinuraj/
Percent of US online consumers who have price checked on their mobile phone while in store in the past 3 months
Golden Generation (70+)………….….9%
Older Boomers (59-69)…………….….9%
Younger Boomers (49-58)………..….16%
Gen X (35-48)…………………………28%
Gen Y/Millennials (26-34)……..……..33%
Gen Z/Young Millennials (18-25)…....30%
Total U.S……………………………….23%
Слайд 17Agenda
How customer behavior continues to evolve…quickly
The retail response – today and
in the future
Recommendations for Holiday 2014
Recommendations for Holiday 2014
Слайд 20
75% of customers are likely to visit a store if in-store
inventory is marked
available online . . .
available online . . .
Слайд 21. . . however, more than one-third of customers are unlikely
to visit a store if they can’t check inventory online.
Слайд 2466%
of luxury shoppers more likely to shop or interact with
sales associates who are equipped with mobile devices
Source: North American Technographics Retail Survey 2013
Слайд 26
The Store As A Platform
Analytics
OMS
POS
CRM
Ops
Source - https://www.flickr.com/photos/statefarm/
Слайд 29Source: Mirande Prynne, “Variable price tags being tested on high street,”
The Telegraph, October 22, 2013 (http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10395403/Variable-price-tags-being-tested-on-high-street.html)
Image source: B&Q Googe+ (https://plus.google.com/112415411810890959234/about)
The store becomes personal
Слайд 32Data will need to transform into insights.
Image source: Bizj (http://media.bizj.us/view/img/849021/retailnext-kinetic-heat-map*304.png)
Слайд 33Agenda
How customer behavior continues to evolve…quickly
The retail response – today and
in the future
Recommendations for Holiday 2014
Recommendations for Holiday 2014
Слайд 342014 Holiday Best Practices
Pay attention to price
Channel integration is expected
The store
experience matters
Think mobile first now
Win on key days
Use data to capture behavior and measure performance
Think mobile first now
Win on key days
Use data to capture behavior and measure performance
Слайд 35
1. Pay Attention to Price
Dynamic Pricing Exists – Have A Strategy
This
doesn’t mean you should promote yourself to zero margin.
Customers not likely to pay significantly more for an item in store
Get help here – find a pricing vendor who can help you monitor your offering
Customers not likely to pay significantly more for an item in store
Get help here – find a pricing vendor who can help you monitor your offering
Source: USA today, 9/28/13
Слайд 36The store “premium” isn’t large
How much more would you consider paying
to purchase a product in a physical store rather than buying it online so that you could have the product immediately rather than wait for it to be shipped to you?
Source: Forrester Life Cycle Survey, Q1 2013
Слайд 37
2. Channel Integration Is Expected
The experience must tie together many different
touchpoints
Enable your associates and customers to see inventory in your stores. (Easier said than done)
Establish processes to handle online orders that need to be returned in-stores
Source: USA today, 9/28/13
Слайд 38
3. The Store Experience Matters
Focus on service and engagement
Use mPOS technology
to ‘line bust’
Focus on convenience over experimental technology
Train associates to engage with customers who are using digital devices
Focus on convenience over experimental technology
Train associates to engage with customers who are using digital devices
Source: USA today, 9/28/13
Слайд 40
4. Think Mobile Now
The future is here NOW
Expect more customers to
use mobile phones in all locations to find the best prices and deals
Use opt-methods of tracking customer behavior across channels
Focus on your mobile experience; both from an influence and transactional perspective
Use opt-methods of tracking customer behavior across channels
Focus on your mobile experience; both from an influence and transactional perspective
Source: USA today, 9/28/13
Слайд 41Mobile is a bigger part of holiday shopping
% of online buyers
who shopped on a mobile device
Thanksgiving
CyberMonday
Source: Bizrate Insights/Forrester Holiday Flash Survey, 2013
Слайд 42Mobile buying is growing during key time periods
Where the mobile device
was used
(CyberMonday)
(CyberMonday)
Source: Bizrate Insights/Forrester Holiday Flash Survey, 2013
For which of the following did you use your mobile device today (CyberMonday)?
Слайд 43
5. Win On Key Days
This DOES NOT mean you must offer
margin busting deals
This season is SHORT – just 28 days between Thanksgiving and Christmas
Buy into holiday “door busters”
Test offers to determine the best margin producing AND new customer acquisition campaign
Source: USA today, 9/28/13
Слайд 45
6. Leverage Data
Leverage new in-store tools to drive conversion
In-store analytics growing
in popularity, although riddled with privacy concerns
Leverage programs that can track customer behavior in all touch points and help with marketing attribution
Ensure you understand different segment behavior during holidays vs non holiday periods
Leverage programs that can track customer behavior in all touch points and help with marketing attribution
Ensure you understand different segment behavior during holidays vs non holiday periods
Source: USA today, 9/28/13
Слайд 48
©
© RevTrax 2014. All trademarks and service marks herein are the
property of RevTrax, Forrester, Inc., or their respective clients and may not be used without their prior written consent. All rights reserved.
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