The Future of Retail Webinar by Engagis
Transcript of The Future of Retail Webinar by Engagis
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Embracing Digital for Improved Service & Profit
The Future of Retail
Leon Condon, CEO, Engagis
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How to Participate Today
Type a question in the QUESTIONS field
of your GoToWebinar Control Panel
Then press SEND
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Engagis is a recognised leader in customer & staff
engagement solutions and digital display technology.
Established in 2001 with offices in Sydney, Melbourne & Auckland.
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4,000+30+ 20,000+
99%+ 10 14
Connected Blue
Chip Customers
Individual
Retailers
Connected Devices
Under Management
Uptime Industries Years in Business
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The Future of Retail
1. The Rules Have Changed
2. Adapting to Change
3. The Future of Retail
4. Next Steps
Today’s Webinar:
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PART 1
The Rules Have Changed
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The Rules Have Changed
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• Smartphone Penetration rocketed from 19% in 2007 to 84% in 2014.
• 94% of shoppers research products and services on their smartphone.
• 47% now actively engage in Showrooming (viewing products in-store then
buying them elsewhere).
• As of 2015, mobile traffic online has now taken over desktop traffic.
MOBILE TRENDS
Source: Business Insider Australia (2014), Google 2015, Nielsen 2014, eMarketer 2014, PWC 2012, NRF Study (1),
Business Insider Australia (2014)(2), Nielsen (2014)(3)
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• Online sales topped $15 BILLION in Australia last year and $1
TRILLION worldwide.
• Asia Pacific is the #1 market for eCommerce Sales.
• Online media influences more than 50% of total retail sales.
• Consumers use an average of 10.4 research sources prior to purchase.
ONLINE TRENDS
Source: Business Insider Australia (2014), Google 2015, Nielsen 2014, eMarketer 2014, PWC 2012, NRF Study (1),
Business Insider Australia (2014)(2), Nielsen (2014)(3)
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• 51% of shoppers now use or want to use in-store kiosks for self-service.
• 60% of smartphone owners said they would use their phone to pay in store
if it meant they didn’t have to line up.
• 51% of shoppers are willing to use mobile shopping tools, but less than 5%
of retailers offer them.
RETAIL TRENDS
Source: Business Insider Australia (2014), Google 2015, Nielsen 2014, eMarketer 2014, PWC 2012, NRF Study (1),
Business Insider Australia (2014)(2), Nielsen (2014)(3)
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MOBILE TRENDS ONLINE TRENDS RETAIL TRENDS
But while digital is changing the purchase
habits of consumers, over half of Australia’s
businesses have not responded.
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MOBILE TRENDS ONLINE TRENDS RETAIL TRENDS
But while digital is changing the purchase
habits of consumers, over half of Australia’s
businesses have not responded.
35% of today’s
attendees
DO NOT HAVE
a mobile
optimised site.
!
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Source: Business Insider Australia (2014), Google 2015, Nielsen 2014, eMarketer 2014, PWC 2012
73% of shoppers still prefer to physically interact with products in store before purchasing.
Only 6.5% of total Australian retail spend is currently online…
That leaves over 93% of
transactions still happening in store.
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80%of companies believe they deliver ‘superior experience’.
Slide courtesy of Mash Up.
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80%of companies believe they deliver ‘superior experience’.
8%of customers agree.
Slide courtesy of Mash Up.
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80%of companies believe they deliver ‘superior experience’.
8%of customers agree.
Slide courtesy of Mash Up.
“Yet only 26% of
companies have a well
developed strategy for
improving the
customer experience.”
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Adapting to Change
In fact retailers are investing billions to
make their brands eCommerce enabled.
But many are failing to integrate this online
activity into their bricks and mortar retail stores.
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PART 2
Adapting to Change
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The New Retail
86% of customers will happily pay
for a better customer experience...
Source: McKinsey (2013; Consumers: Life Online)
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To create a customer experience that is…
Faster
Easier
Cheaper
More Personal
Adapting to change
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PART 3
The Future of Retail
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The Rules Have Changed
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The CUSTOMER Pathway to Purchase
One Thing Has Stayed The Same
The RETAILER Pathway to Purchase
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Omni-Channeling Is The Future
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The Retail “Store” of The Future
In the
Home
At the
Store
On the
Go
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The Future of RetailCreating Connections Along the Pathway to Purchase
• Digital Signage
• Electronic Shelf Labels
• Digital Ticketing
• Location Based Advertising
• Gamification
• Interactive Gaming
• Video Walls
• Touch Screens
• Augmented Reality
• Mobile Apps
• Solution Finders
• Digital Catalogues
• Staff Tablets
• Digital Wayfinders
• Secure Merchandising
• Remote Activation
• Online Ordering
• Mobile Ordering
• Self-Order Kiosks
• Mobile POS Systems
• Mobile Loyalty & Rewards
• Staff Communication Portals
• Staff Training Systems
• Audience Tracking
• Shopper Insights Portals
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Attract
Mobile Marketing
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Attract
Mobile Marketing
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Attract
Digital Signage
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Attract
Digital Signage
4% - 50% Increase in Sales
5% - 15% Increase in Enquiries
40%+ Increase in Message Recall
80% Improved Environment & Experience
35% Reduction in Perceived Wait Times
Source: Digital Signage Today 2014, Lyle Bunn 2014
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Attract
Digital Signage - Behavioural Influenced Content
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Attract
Digital Signage - Behavioural Influenced Content
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Attract
Digital Signage - Behavioural Influenced Content
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Entertain
Gamification
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Entertain
Gamification
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Engage
Solution Finders
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Engage
Solution Finders
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Engage
Solution Finders
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Engage
Solution Finders
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Engage
Tablet Solution Finders
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Tablet Solution Finders
Engage
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Engage
Solution Finders
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Transact
Self-Service Kiosks
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Transact
Self-Service Kiosks
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Transact
Self-Service Kiosks – Through Window
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Engage
Interactive Dressing Room
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Transact
Mobile POS
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Reward
Mobile Loyalty & Rewards
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Measure
Capture Every Interaction
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Analyse
Analyse the Data
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Insights
Build A Customer Profile
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Target
Change Behaviour
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Personalising the Offer
• 700% increase in conversion ration versus traditional campaigns
• 72%+ of rewards recipients spend more than the amount of the reward.
• 88% of businesses with loyalty programs are more profitable than their
competitors without.
Source: Deloitte Loyalty Plus Research Study 2013, Capgemini Consulting Digital Shopper Study 2012,
DDB Mcdonalds Netherlands.
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PART 4
Next Steps
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Strategy
Define objectives
Map your customer’s pathway to purchase
Identify touch points and explore relevant technology options
Review ROI
Provide a detailed technology road map addressing business goals
Solution Design and Prototyping
Prepare a fully interactive demonstration of the recommended solution
Rapid Pilot Testing
Build > Measure > Learn > Improve
Next Steps
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Case Studies
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Thanks
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Leon CondonCEO
Engagis Pty LtdThe Engagement LabLevel 12, 213 Miller StreetNorth Sydney NSW 2060
T +61 2 8039 0651M 0414 266 366E [email protected] engagis.com
Customer Support 1300 203 810