Streethub mandeep singh
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Transcript of Streethub mandeep singh
STRICTLY PRIVATE AND CONFIDENTIAL 0
STRICTLY PRIVATE AND CONFIDENTIAL 1
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
STRICTLY PRIVATE AND CONFIDENTIAL 2
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
STRICTLY PRIVATE AND CONFIDENTIAL 3
We‟re backed by a group of Venture Capital funds
$1.2m seed round led by a group of leading VCs…
…and Angels
STRICTLY PRIVATE AND CONFIDENTIAL 4
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
STRICTLY PRIVATE AND CONFIDENTIAL 5
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)
STRICTLY PRIVATE AND CONFIDENTIAL 6
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
STRICTLY PRIVATE AND CONFIDENTIAL 7
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
STRICTLY PRIVATE AND CONFIDENTIAL 8
So how does StreetHub help independents?
I can discover unique
products near me,
available for collection or
same-day delivery
STRICTLY PRIVATE AND CONFIDENTIAL 9
And how do independents help StreetHub?
STRICTLY PRIVATE AND CONFIDENTIAL 10
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
STRICTLY PRIVATE AND CONFIDENTIAL 11
www.streethub.com
Email: [email protected]
Telephone: +44 (0)207 193 6444
StreetHub Ltd
International House
1 St Katherine‟s Way
London E1W 1UN