FDI in Multi Brand Retail Trade - The Journey, September 2012
Retail Multi Brand Industry Digital Media Strategy
Transcript of Retail Multi Brand Industry Digital Media Strategy
RETAIL MULTI-BRAND INDUSTRYDIGITAL MEDIA STRATEGY
OVERVIEW OF THE INDUSTRY
• The Indian retail market is expected to demonstrate a promising year-on-year growth of 6% to reach USD 865 billion, by 2023, from the current USD 490 billion.
• The share of apparel in India’s retail market is 8%, corresponding to a value of USD 40 billion.
• In addition to fashion apparel, the growing demand for fashion accessories makes the Indian fashion market both interesting and lucrative.
Source: Technopak Analysis
Total Retail Market (USD bn)
2013 2023
865
490
Share of the Retail market, 2013
6%1%2%2%6%
6%
8%
69%
Food & GroceryConsumer Durables & IT Pharmacy & Wellness Footwear ApparelJewelry & WatchesFurniture & FurnishingsOthers
Currently the apparel industry forms only 2% of the retail
market. There is huge scope for improvement.
Increasing Time Poverty
Shift to Aspirational Buying
Growing Value Consciousness
Acceptance of Digital Technology
CONSUMER BEHAVIOUR TRENDS IN THE INDUSTRY
WHY SOCIAL MEDIA?
“Ignoring the Internet is total madness,” said Diane von Furstenberg, who didn’t live stream her show but did update her Facebook page with backstage photos and tweeted from the event. “Being active on the Internet is indispensable to growth and for being relevant. It helps
your business to be truly global and truly multi-generational.”
SCOPE FOR SOCIAL MEDIA
HOW STORES CAN USE SOCIAL MEDIA
Drive online and offline traffic by analysing fan behaviour
Bring customer engagement to a new level by using social CRM
Engage consumers with effective product and brand management
Boost conversion rates by offering promotions and rewards
RISE OF SOCIAL MEDIA
74% of consumers rely on
social media to guide their purchases
CUSTOMER BEHAVIOUR ON SOCIAL MEDIA
Seeking Information
Sharing Information
Tracking Information
Broadcasting Information
Social Media
SOCIAL MEDIA GUIDE
Build brand awareness, reply to customer queries and promote
seasonal sales
Drive fan engagement and create sharable hashtags
Provide exclusive merchandise and organise previews
Share visual content, integrate shopping cart to see, use for multi
media content and use images that inspire
Create short, quirky videos and give a face to your brand
COMPETITIVE ANALYSIS
OVERVIEW
• Publicly available information on the Web is captured and analysed to create a comprehensive report about a brands Social Media presence and online activities.
• The intent is to help a company better understand the performance of and reaction towards the brand on Digital Media and turn social media into strategic insights to help them develop operational intelligence and situational awareness.
• The brands’ online behaviour is mapped and classified based on:
• Presence on Social Networks
• Engagement level on social media
• Impact on their sphere of influence
• Popularity and reach
• Activity Patterns
• Sentiments associated with the conversations
SOCIAL MEDIA QUOTIENT (SMQ)
• ‘Social Media Quotient’ measures a brands’ performance on social channels. It is calculated on the analysis of ‘Presence & Performance’ of various social media assets; it takes into account- connections/ followers/ public posts, engagement level, influence, technology adoption etc.
• The following channels have been covered under SMQ Analysis
Competitor Channel Analysis
MAJOR PLAYERS
Pantaloons Shopper Stop
Lifestyle Globus Reliance Trends
17.2
23
30.6
37.5
27.5
Pantaloons Shopper Stop
Lifestyle Globus Reliance Trends
37.1
15
37.840.7
22.7
Relative Performance
Shoppers Stop again leads the way on Facebook with 71,00,000 fans good engagement with them. Globus comes last in this segment
because of very limited engagement with 1.5 lakh fans.
Shoppers Stop leads the way on Twitter with a score of 37.5. It has 1,26,000 followers and
13,400 tweets in total. Reliance Trends needs to improve its
standing here by increasing the number of followers and also improving engagement
with them.
Best Practices
Website
Pantaloons Shopper Stop
Lifestyle Globus Reliance Trends
0
3030
20
30Blog
Pantaloons Shopper Stop
Lifestyle Globus Reliance Trends
0
4038.6
22.9
40
Relative Performance
Pantaloons leads the way with its blog. On average it has around 11 blog posts in a month and has sharing options across all social media
channels. Globus also, is doing equally well with 8 blog posts in a month.
Pantaloons, Lifestyle and Globus all have great websites that are entirely synced with all social media channels. Reliance Trends
comes last because it does not have a website at all.
Best Practices
YouTube
Pantaloons Shopper Stop
Lifestyle Globus Reliance Trends
11.110
26.828.3
22.8
Pantaloons Shopper Stop
Lifestyle Globus Reliance Trends
20.5
3028.3
3033
Relative Performance
Pantaloons leads the way because it has a dedicated company page, 1650 followers and
376 employees. It also has a group for discussions. Shoppers Stop and Globus follow
second with higher number of followers but since they do not have groups, they rank after
Pantaloons.
Shoppers Stop here leads the way with 15,79,259 upload views and 827 subscribers. Globus performed the worst in this segment
with only 3 channel subscribers and 1,439 upload views.
SMQ
Pantaloons Shopper Stop
Lifestyle Globus Reliance Trends
28.3931.34 32.71
23.36
16.42
SMQ is affected by an Ins1tute’s social media prac1ces, engagement level, content, popularity and reach against industry’s benchmark.
Social Media plays a pivotal role in ‘Retail-‐ Apparel’ & ‘Brand Building’
Lifestyle leads the way in SMQ with 32.71 but it could have fared even beLer with more number of shares on its Facebook posts and a higher number of followers on LinkedIn.
Reliance Trends lags behind with an SMQ of only 16.42 because it does not have a dedicated website or a blog. Also, its presence on TwiLer is quite behind industry standards.
SOCIAL MEDIA QUOTIENT
WAY FORWARD
FOLLOW A CRAWL, WALK, RUN APPROACH FOR SOCIAL MEDIA
CRAWL WALK RUN FLY Aggregation & Branding Community Building Thought Leadership Technology
Online Listening & Monitoring
Establish Online Credibility and Trust through a stepped approach
• Content optimization • Organized content hubs • Creatives’ revamp
• Snackable content • More engagement • Track & Monitor real
time conversations • External seeding
• Go mobile: Style in your pocket – An App
• Dedicated website : Responsiveness & playability are must haves
Month 1-2 Month 3 Month 4 Month 5-6
• Blogs • Presentation • Inforgraphics • Digital PR • Community outreach • Identify promotional
avenues
We will Follow The Crawl, Walk, Run Methodology for Social Media
SOCIAL MEDIA IMPLEMENTATION PLAN
Intelligence Content VenuePromotional Platforms KPIs
Your BrandsYour Competition
Industry Trends
Listen for
Listen in
Twitter, Facebook, Blogs, News, Forums,
Suggestion Sites
Market Research,Public Relations,
Customer Service,Branding
Digital Marketing,Public Relations
Digital Marketing :Community Building
which can be leveraged for several functions
Social Enterprise Metrics : CEO – CFO –
CMO ‘s Office
• Size of the community
• Level of Engagement
• Number of App downloads
• Number of queries resolved
• Content Curated
SEO & SEM
SEARCH ENGINE OPTIMISATION
Keyword Research
On Page SEO Off Page SEO
Create Blog PostsCreate Presentations Create Videos
Create content using researched keywords for websites like slideshare, YouTube etc. These sites have highest page ranks and thus help your website show up on the 1st page of search engines
SEARCH ENGINE MARKETING
Meet your customers when they are actively looking for your products on a search engine.
Advertising via the search engine
is cost effective.
Statistics can be gathered from web logs to determine the efficacy
of an ad campaign.
ABOUT ITTISA
WHO ARE WE?
Founded in June of 2014, we are the first ever only girls Digital Media Agency.
The name Ittisa in Sanskrit means 'The Ruler' and we aim to rule the creative world with our highly creative and passionate team..
At Ittisa, we are a unique captivating mix of innovative ideas, diligence and the right sprinkle of creativity!
We love the work we do here because one - we adore the Digital world and two - we know that our ideas & strategy make a difference.
Our objective is simple - To make our clients create a mark in the Digital space with crisp strategy, excellent designs & great content.
Super glad to announce that we have recently partnered with LeanIn.org and look forward to changing the trajectory of women workers and create a better world for everyone.
WHAT DO WE DO?
WHAT WE CAN DO FOR YOU!
BRAND BUILDING &
SOCIAL MEDIA MARKETING
SEARCH ENGINE OPTIMISATION
SEM
BIG DATA ANALYTICSORM
SOCIAL CRM
UI & UX Design
HAPPY CLIENTS
Thank You
Connect With Us