Streethub mandeep singh

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Transcript of Streethub mandeep singh

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A little about me

Mandeep Singh

Co-founder of StreetHub

Previously a Private Equity investor at BC Partners

ex-OC&C Strategy Consultants (seconded to Marketing

Strategy Team at Asda)

MA University of Cambridge

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StreetHub is the mobile marketplace for offline retail

Purely for independents

100s of the best home and fashion shops in London

Real-time inventory, shows you what‟s in stock

Click & collect (or 90 minute delivery), fulfilled from store

Retailers

Drives more

footfall

Discover unique

products near me,

available right

now

Shoppers

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We‟re backed by a group of Venture Capital funds

$1.2m seed round led by a group of leading VCs…

…and Angels

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Let‟s take a step back…what is the impact of online?

Only 11% of UK retail in 2013 took place online

Local is 89% of UK retail!

The real story is that c.50% (and growing) of consumers

„Research Online, Buy Offline‟

– Ease of searching and discovering on computer/mobile

– Product availability, opening times, directions, inspiration

Maybe online isn‟t so bad after all?

Source: ONS, Google

“29% of our customers research in-store and buy online,

compared with 69% who research online and buy in-store”

John Lewis Ops Director

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Important - behaviour varies a lot by category

80%

53%

42%

14%

11%

6%

6%

6%

Music & video

Books

Electricals

Clothing &footwear

Homewares

Furniture& Flooring

DIY & gardening

Health & beauty

1. UK Market, 2013E. Excludes Grocery and Other

Source: Statista

Research Offline, Buy

Online behaviour;

commoditised, price

comparable, branded,

easy logistics

Research Online, Buy

Offline. More unique

products, discovery,

„touch and feel‟

preference

E-Commerce Penetration by Category (Value)

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Google tell us how important mobile is to local retail

“72% of consumers who searched for local information on a

smartphone visit a store within 5 miles”

“50% of consumers who conducted a local search on their

smartphone visited a store within a day”

“56% of on-the-go Google smartphone searches have local

intent”

– May 2014

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Click & Collect is a manifestation of online to offline

Selfridges Oxford Street

Dedicated entrance, plans for changing rooms and kiosks

Drive-thru

Order by 4pm, get it the next day

John Lewis

Click and collect successful, but limited store estate

Expansion via Waitrose stores and Collect+ trial

75%

Up to 65%

54%

50%

Argos

John Lewis

M&S

Asda non-food

% of Online Sales Collected In-Store

Source: Forrester, Deutsche Bank, Verdict, Internet Retailing, Retailer Press Releases, Annual Reports, StreetHub Research

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So how does StreetHub help independents?

I can discover unique

products near me,

available for collection or

same-day delivery

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And how do independents help StreetHub?

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Who are our shops?

Independent, usually 1

shop, maximum 5-10

Expert curators

Vast majority have a

traditional e-commerce

site but are rarely part of

an online marketplace

Typical Retailer Stores in London

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www.streethub.com

Email: [email protected]

Telephone: +44 (0)207 193 6444

StreetHub Ltd

International House

1 St Katherine‟s Way

London E1W 1UN