IBM Benchmark's 2015 Holiday Readiness Webinar
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Transcript of IBM Benchmark's 2015 Holiday Readiness Webinar
![Page 1: IBM Benchmark's 2015 Holiday Readiness Webinar](https://reader030.fdocuments.in/reader030/viewer/2022032619/55c34759bb61eb03088b4591/html5/thumbnails/1.jpg)
Preparing for the 2015 Holiday
Shopping SeasonKey online shopping trends and best practices
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Today’s presenters
Sucharita MulpuruPrincipal Analyst
Forrester
@smulpuru
Leah PaschallIBM Digital Analytics Benchmark
IBM Commerce
@leahpaschall
#IBMBenchmark @smulpuru @leahpaschall
Customer Analytics
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Contents
• Online shopping trends
• Key holiday shopping days in 2014
• Screen size and the mobile rise
• 5 themes for 2015
• Make the holiday season profitable
Customer Analytics
#IBMBenchmark @smulpuru @leahpaschall
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IBM Digital Analytics Benchmark• Over 3,000 sites participated
• Aggregate index– Compare against industry– Compare against peers
• Geographic coverage– US, UK, FR, Gmy, AU, Europe, World
Wide
• Industry specific– Retail, Content, Financial Services,
Travel
• Segment specific– Apparel, Department Stores, Health
and Beauty, and 12 others. . .
• Free Resources– US holiday retail & sub-verticals– UK Black Friday & Cyber Monday– Holiday Mobile Report
www.ibm.com/benchmark
#IBMBenchmark @smulpuru @leahpaschall
Customer Analytics 4
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© 2015 Forrester Research, Inc. Reproduction Prohibited 5
Source: Forrester Research Web-Influenced Retail Sales Forecast, 2013 To 2018 (US)
US eCommerce will top $300MM in 2015
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 6
Categories are shifting a lot
Share of top 3 online categories as a % of eCommerce
2000 2015 2018
46%
35% 36%
PCs, consumer electronics, apparel &
accessories
PCs, books, peripherals
Consumer electronics, apparel & accessories, home and housewares
Source: Forrester estimates
#IBMBenchmark @smulpuru @leahpaschall
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Steady growth for online sales
Q1 2015Sales up over 15%
YoY
Source: IBM Digital Analytics Benchmark
Q2 2014 Q3 2014 Q4 2014 Q1 20150%
5%
10%
15%
20%
12% 11% 11%
16%
US QUARTERLY SALES CHART YoY Difference
#IBMBenchmark @smulpuru @leahpaschall
Customer Analytics 7www.ibm.com/benchmark
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Consumer attention continues to decline
#IBMBenchmark @smulpuru @leahpaschall
Session length keeps decreasing Down to 6:42 compared to 7:25 2 years ago
Cart abandonment remains high and continues to rise
Up to 74%
Bounce rate continues to rise Up to 35.6%, a 10% increase from 2 years ago
Pages per view declined to 7.2, down 8% from 2 years ago
Customer Analytics www.ibm.com/benchmark
Source: IBM Digital Analytics Benchmark (March 2015)
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Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar10%
20%
30%
40%
50%
MARKETING PERCENT OF SITE TRAFFIC Current Period (2014-2015)
Prior Period (2013-2014)
Prior Period (2012-2013)
Consistently driving
~25-30% of traffic
Marketing promotions, offers, & messages are working...
Especially around the
holiday shopping
period
#IBMBenchmark @smulpuru @leahpaschall
Customer Analytics www.ibm.com/benchmark
Source: IBM Digital Analytics Benchmark
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Key holiday shopping days in 2014
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Shopping season is elongating• 12.6% YoY sales Thanksgiving through Cyber Monday
Customer Analytics
#IBMBenchmark @smulpuru @leahpaschall
www.ibm.com/benchmark
Source: IBM Digital Analytics Benchmark
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© 2015 Forrester Research, Inc. Reproduction Prohibited 12
Though it’s still no Singles Day
Cyber Monday China's Singles Day (11/11)
$2
$11
Estimated total gross merchandise value generated online 2014 ($B)
Source: Forrester estimates
#IBMBenchmark @smulpuru @leahpaschall
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UK Cyber Monday & AU’s Click Frenzy
Online sales increased by 22.6% over 2013 with mobile percent of sales growing by 29.3%, reaching 42.9% of all online sales,
Australia’s Click Frenzy – November 18 – 19, 2014
Online sales increased by 27.7% over 2013 with mobile percent of sales growing by 15.3%, reaching 20.4% of all online sales
UK Cyber Monday- December 1, 2014
13
#IBMBenchmark @smulpuru @leahpaschall
Customer Analytics 13www.ibm.com/benchmark
Source: IBM Digital Analytics Benchmark
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14Customer Analytics
• Direct Load, Marketing, Paid Search yield highest rates
#IBMBenchmark @smulpuru @leahpaschall
www.ibm.com/benchmark
Source: IBM Digital Analytics Benchmark
Cyber Monday had the highest conversion across all channels
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15Customer Analytics
Cyber Monday had the best engagement• Highest average session length, page views, new visitor
conversion rate and lowest bounce rate
#IBMBenchmark @smulpuru @leahpaschall
www.ibm.com/benchmark
Source: IBM Digital Analytics Benchmark
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© 2015 Forrester Research, Inc. Reproduction Prohibited 16
Cyber Monday best practices
› Conversion is higher because shoppers expect sales; threshold based shipping offers can shift demand
› “Doorbusters” are often impactful (specific items) vs sitewide promotions
› Over time, email is essential to maintaining energy on this date
› Ensure mobile optimization and easy mobile payments
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 17
Convenience is the main reason people shop online
Source: Bizrate Insights Holiday Retrospective Study, Jan 7-14, 2015
No crowds, no traffic, no hunting for parking
Buying online takes up less time than going to stores
Free shipping
It was so easy! Why expend more energy?��
I could shop when stores weren't open
Lowest total cost
I was sure to get the items I wanted to buy
I couldn't find what I wanted to buy in local stores
Items were only available online
Guaranteed on-time delivery
Shipping directly to a gift recipient
54%
48%
45%
37%
32%
30%
24%
22%
19%
17%
14%
Base: 5,879 online holiday shoppers
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 18
Use coupons to drive store traffic as you get closer to 12/25
“Which of the following statements describes you?” (Select all that apply)
I use my phone more than my computer or tablet to access the in-ternet.
I'm more likely to make a purchase in store if I receive a coupon on my smartphone while in store
I prefer to shop online for most of my purchases.
I love shopping in brick and mortar stores.
I enjoy looking for coupons and promotion codes online.
I'm more likely to visit a store if I receive a coupon for that store
I love receiving digital coupons, offers or online promotion codes.
18%
25%
41%
47%
47%
50%
60%
Source: A commissioned study conducted by Forrester Consulting on behalf of RetailMeNot, May 2014
Base: 500 US consumers who used a digital coupon, offer, or online promotion code in the past three months
#IBMBenchmark @smulpuru @leahpaschall
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Screen size and the mobile rise
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Larger screens have better buying and engagement metrics…..
Customer Analytics
Average Order Value
Average Page Views
Bounce Rate
Conversion Rate
% of Sales
% of Traffic
91.2
6.1
0.4
0.0
0.1
0.3
102.7
7.7
0.3
0.0
0.1
0.1
121.6
7.9
0.3
0.0
0.8
0.5
Performance by Device Type - March 2015
Smartphone Tablet Desktop
IBM Digital Analytics BenchmarkIBM Digital Analytics Benchmark
#IBMBenchmark @smulpuru @leahpaschall
www.ibm.com/benchmark
Source: IBM Digital Analytics Benchmark – U.S. Retail
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21Customer Analytics
#IBMBenchmark @smulpuru @leahpaschall
www.ibm.com/benchmark
Source: IBM Digital Analytics Benchmark – U.S. Retail (March 2013 vs. March 2015)
…..however, mobile continues to soar
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Mobile Use By Country: Australia, UK, US
22
• Mobile traffic and sales grew in double digits on major shopping days in US, UK and Australia.
• As a percentage of all online traffic and sales, the UK was highest at 56.2% and 42.9%, respectively.
AU Click Frenzy UK Cyber Monday US Cyber Monday0%
10%
20%
30%
40%
50%
60%
Mobile Performance 2014
Mobile % of Sales Mobile % of Site Traffic
Mobile % of Traffic and SalesIBM Digital Analytics Benchmark
#IBMBenchmark @smulpuru @leahpaschall
Customer Analytics www.ibm.com/benchmark
Source: IBM Digital Analytics Benchmark
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Mobile Use By Country: Australia, US, UK
23
AU Click Frenzy UK Cyber Monday US Cyber Monday0%
10%
20%
30%
Mobile Percentage of Sales 2014
Tablets Smartphones
AU, UK, USIBM Digital Analytics Bench-mark
AU Click Frenzy UK Cyber Monday US Cyber Monday0%
10%
20%
30%
40%
Mobile Percentage of Traffic 2014
Tablets Smartphones
AU, UK, USIBM Digital Analytics Benchmark
Tablets to buy
Smartphones to browse
#IBMBenchmark @smulpuru @leahpaschall
Customer Analytics www.ibm.com/benchmark
Source: IBM Digital Analytics Benchmark
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However, smartphone traffic is increasing while tablet traffic remains steady…
Customer Analytics
#IBMBenchmark @smulpuru @leahpaschall
www.ibm.com/benchmark
Source: IBM Digital Analytics Benchmark – U.S. Retail
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…And smartphones are gaining ground on tablets in making the purchase
Customer Analytics
#IBMBenchmark @smulpuru @leahpaschall
www.ibm.com/benchmark
Source: IBM Digital Analytics Benchmark – U.S. Retail
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5 Themes for 2015
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© 2015 Forrester Research, Inc. Reproduction Prohibited 27
Themes
1. The Omnichannel Octopus
2. Middle-of-the-Road Mobile
3. Short-lived Security Splurges
4. Payments Paralysis
5. Dumping “Big Data”
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 28
Key merchant priorities in 2015
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 29
Everyone has appropriated “omnichannel”
Fullfillment
Marketing
OMNICHANNEL
Tech
nolo
gy
Customer Service
Endless aisle
In-store pickup
Ship from/to store
Alternative pickup points
Same day delivery
Cross-site customer acquisition
Cross-device measurement
Cross-channel measurement
Loyalty data and CRM
Cross-channel infrastructure
POS sync across channels
CS data shared across channels
Remote customer service
Digital service capabilities
Integration across channels
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 30
Shipping issues are a little more challenging
Returns as a % of total orders
Fulfillment costs per order
27%
25%
62%
55%
11%
22%
IncreasedRemained flatDecreased
Source: The State of Retailing Online (Shop.org/Forrester) 2015: Key Metrics
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 31
Themes
1. The Omnichannel Octopus
2. Middle-of-the-Road Mobile
3. Short-lived Security Splurges
4. Payments Paralysis
5. Dumping “Big Data”
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 32
Mobile is growing
Base: 41 online retailersSource: “The State Of Retailing Online,” a Shop.org study conducted by Forrester Research
Mobile as a percentage of online sales (average)
Year-over-year growth in mobile sales (average)
Mobile as a percentage of online traffic (average)
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 33
Responsive design trumps apps
Base: 52 online retailersSource: “The State Of Retailing Online,” a Shop.org study conducted by Forrester Research
“Which of the following best describe your company’s smartphone and tablet device presence? (Select all that apply)”
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 34
So spend is still modest
Base: 51 online retailersSource: “The State Of Retailing Online,” a Shop.org study conducted by Forrester Research
Smartphone investment in 2014 Tablet investment in 2014
Average number of full-time employees dedicated to mobile: 3.1Average number of part-time employees dedicated to mobile: 7.1
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 35
Shoppers often find coupons on their mobile phones
By watching a TV show or commercial that says how I can get a coupon on my phone
By reading catalogs, mail or newspapers saying how I can get a coupon on my phone
By reading signage at stores or on shelves saying how I can get a coupon on my phone
Through push messages from a coupon company sent to me on my phone
By receiving a push notification from an app that I have downloaded specifically for coupons and offers
By receiving a push notification from an app from a retailer
By texting a short code to a coupon company
By visiting a coupon site directly from my phone
Through push messages from a retailer sent to me on my phone
By visiting a retailer's website directly from my phone
By browsing an app from a retailer
Via email from a coupon company
By browsing an app that I have downloaded specifically for coupons and offers
By texting a short code to a retailer and getting a link to a coupon on my phone
Through search engines on my smartphone
Via email from a retailer
8%
16%
20%
23%
24%
25%
27%
27%
28%
28%
30%
32%
33%
39%
55%
57%
“How do you typically find digital coupons, offers or online promotion codes on your smartphone?” (Select all that apply)
Source: A commissioned study conducted by Forrester Consulting on behalf of RetailMeNot, May 2014
Base: 177 US consumers who used a smartphone to find a digital coupon, offer or online promotion code in the last three months
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 36
Themes
1. The Omnichannel Octopus
2. Middle-of-the-Road Mobile
3. Short-lived Security Splurges
4. Payments Paralysis
5. Dumping “Big Data”
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 37
Data security is a top concern
#IBMBenchmark @smulpuru @leahpaschall
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Security breaches are bad…but not insurmountable…
#IBMBenchmark @smulpuru @leahpaschall
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…and they’re not nearly as bad as bad business execution
#IBMBenchmark @smulpuru @leahpaschall
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CIOs focusing on data security is more like this…
DATA BREACH
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 41
That said, EMV migrations will be the thing to watch in the fall
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 42
Themes
1. The Omnichannel Octopus
2. Middle-of-the-Road Mobile
3. Short-lived Security Splurges
4. Payments Paralysis
5. Dumping “Big Data”
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 43
Mobile growth is creating hype around the payments space
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 44
Note: Forecast does not include purchases made on a tablet or card payments made at mobile point of sale (mPOS) or with a mobile card reader. Source: Forrester Research Mobile Payments Forecast 2014 To 2019 (US)
But what people don’t seem to understand is this data
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 45
Lots of players are fighting for a relatively small pie
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 46
Including the major tech companies
Disruptive Threat Likelihood
Medium-low
Installed base too limited for now; less traction outside of US; requires merchant adoption; consumer adoption questionable; Apple Store Pay is interesting but has no traction
Medium
Google has virtually no success in consumer payments excluding Android store; Softcard was never a viable product and arguably not the reason for Google Wallet’s failure the first time
Low
No traction in the physical environment and significant skepticism from non-Amazon properties for online payments; Amazon will ultimately morph into a B2B model to subsidize its B2C business
Low
Large mobile installed base; hasn’t yet invested heavily in in-app transaction capabilities but WeChat shows it could be possible and relatively successful; in-app payments are its best bet
Medium
Loop Pay is very innovative and requires no merchant integration; technology invested in security could deem even EMV obsolete but that may also require merchant integration which could be years away
#IBMBenchmark @smulpuru @leahpaschall
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© 2015 Forrester Research, Inc. Reproduction Prohibited 47
Themes
1. The Omnichannel Octopus
2. Middle-of-the-Road Mobile
3. Short-lived Security Splurges
4. Payments Paralysis
5. Dumping “Big Data”
#IBMBenchmark @smulpuru @leahpaschall
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© 2014 Forrester Research, Inc. Reproduction Prohibited 48
Big Data - The practices and technology that close the gap between the data available and the ability to turn that data into business insight.
#IBMBenchmark @smulpuru @leahpaschall
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The Key Is Incremental Impact
Photo source: http://iphone.sys-con.com/node/2411901
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TechRadar™: Retail Analytics, 2014
#IBMBenchmark @smulpuru @leahpaschall
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Make the holiday season profitable
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Thoughts…
› There’s still a lot of hype
› Focus on what matters: a strong customer experience, flexibility in fulfillment, transparency in shopper information, good store economics
#IBMBenchmark @smulpuru @leahpaschall
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Become a C2Bbusiness with IBM
Today, business is more than B2B or B2C. It’s also C2B: customer-to-business. Put your customers at the center of everything you do.
Customer Analytics www.ibm.com/benchmark
#IBMBenchmark @smulpuru @leahpaschall
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IBM Digital Analytics Benchmark Hub www.ibm.com/benchmark
• Holiday Reports
• Press alerts, press releases and bylines
• Blogs
• LIVE social feed
• Link to product information
• Best practice guides
• Access to IBM Benchmark Live
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One stop shop for analysis, product information and best practice guides
#IBMBenchmark @smulpuru @leahpaschall
Customer Analytics 55www.ibm.com/benchmark
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IBM Benchmark Live gives you instant access to real-time online shopping trends with customizable visuals that you can download and share.
IBM Benchmark Live #IBMBenchmark @smulpuru @leahpaschall
Customer Analytics www.ibm.com/benchmark
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Questions?www.ibm.com/benchmark
Sucharita MulpuruPrincipal AnalystForrester @smulpuru
Leah PaschallIBM Digital Analytics Benchmark LeadIBM ExperienceOne @leahpaschall
#IBMBenchmark @smulpuru @leahpaschall
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