© 2016 Openbravo Inc. All Rights Reserved. 1
Building a Successful Omnichannel Strategy for Physical Stores
July 21st, 2016
© 2016 Openbravo Inc. All Rights Reserved. 2
Today’s presentation is available to download on the Attachment tab on the webinar page.
Visit openbravo.com/retailers/resources/overview/
Check out additional resources and don’t forget to share them with your colleagues.
Have a question? Click on the Question tab. Q&A will be at the end of today’s presentation.
Submit additional questions or comments after the webinar on Twitter. Hashtag: #obravowebinar
Simple steps to increase the value of today’s webinar experience
© 2016 Openbravo Inc. All Rights Reserved. 3
Today’s Presenter
Geoff Nairn
Enterprise Solutions Specialist @ Openbravo
© 2016 Openbravo Inc. All Rights Reserved. 4
! Introduction
! What is Omnichannel
! Physical stores still matter
! Key Takeaways
! Q&A
Agenda and Goals
© 2016 Openbravo Inc. All Rights Reserved. 5
" Customers now expect a much more interactive, intimate and connected shopping experience whether instore or online.
" There are many more touchpoints, which gives many more opportunities for brands to interact.
The Transformation of Retailing
© 2016 Openbravo Inc. All Rights Reserved. 6
The Omnichannel Shopper
▪ Convenience, to buy, pay, receive and return how they prefer
▪ Speed, to receive ordered products or information
▪ Personalization, on each interaction with the brand
21%
more profitable
Source: PwC
Source: EKN Research
© 2016 Openbravo Inc. All Rights Reserved. 7
E-commerce Boom Continues
!"
% change
% of total retail sales
Retail E-commerce Sales Worldwide
Source: emarketeer
Trillions dollars
© 2016 Openbravo Inc. All Rights Reserved. 8
Times Change
In 2015, online shoppers in the US spent $3.07bn on Cyber Monday, 16% up on 2014.
Source: ;Adobe DigitalIndex
Yesterday Today
© 2016 Openbravo Inc. All Rights Reserved. 9
53%
25%
12%
62%
17%
9%
46%
21%
10%
55%
17%
8%
in store PC mobile device
Preferred Purchase Method
Apparel & footwear
Furniture & homeware
Sports equipment
DIY
The Continuing Importance of the Physical Store
Source: PwC
© 2016 Openbravo Inc. All Rights Reserved. 11
# 82 percent of millennials prefer bricks and mortar stores
# Millennials can be very loyal if actively engaged as valuable customers
Engaging the Millennials
# 68 percent of millennials demand an integrated, seamless experience regardless of the channel
© 2016 Openbravo Inc. All Rights Reserved. 12
Generation Z Shoppers
• 80% of teens say free shipping and delivery is important
• 77% want special sales or discounts
• 50% prefer a flexible return policy
• 38% try to use rewards when they shop
• 29% join frequent shopper Source: E&Y
© 2016 Openbravo Inc. All Rights Reserved. 13
# Convenience and proximity
# Efficiency
# Inspiration
# Instant gratification
# Discovery
# Entertainment and social interaction
# Experiencing brands and products
Strengths of Bricks-and-mortar stores
Source:McKinsey
© 2016 Openbravo Inc. All Rights Reserved. 14
Traditional bricks and mortar stores E-tailers Multichannel
retailers Omnichannel
Putting the Customer at the Center
Source:Deloitte
© 2016 Openbravo Inc. All Rights Reserved. 15
The Retail IT landscape is constantly evolving and customers are increasingly demanding experimental experiences. Some of the benefits of having physical stores and related to the concept of providing a seamless cross-channel shopping are:
Create a more emotional connection by appealing to the five human senses, and that’s possible with face-to-face service
• Physical stores act as distributed fulfillment centers,
$ serve online orders from stores $ So retailers are embracing ship-from-
store more than ever before $ service same day delivery at low cost
• Offer click-and-collect • Increase up-selling opportunities
Benefits of Physical Stores
© 2016 Openbravo Inc. All Rights Reserved. 16
#$%"
&'%"
&(%"
)*%"
)*%"
)#%"
+'%"
',%"
-*%"
-#%"
+#%"
-&%"
-,%"
)+%"
./012345"45264/1"734"3/89/5"34:541"
;4:549/<"3/89/5"9/=5/234>"743?"12345"
@113A9B25"34:549/<"9/012345"734"C43:6A21"B=B98BD85"3/89/5"
./012345"C9AE06C"37"3/89/5"34:541"
3/89/5"A36C3/"45:5?CF3/"9/012345"
GH9C0743?012345"
;/89/5"9/=5/234>"=919D9892>"23"9/012345"1H3CC541"
I3J"
./"-)"?3/2H1"
Adoption of In-store Omnichannel Capabilities
Source: EKN
© 2016 Openbravo Inc. All Rights Reserved. 17
Busin
ess
Imp
ac
t
Ease of Implementation
Associate Ordering
In-Store Pickup
Ship from Store
Three key In-store Omnichannel Capabilities
© 2016 Openbravo Inc. All Rights Reserved. 18
Ship-from-Store Benefits
Source:Teradata
For the Customer # Expanded product assortment # Fewer out of stock / back order scenarios # Fast delivery (expectation of 80% within 1
day; 96% within 2 days) # Products “always available” when
desired
For the Retailer # 10-40% incremental e-commerce
revenue # Increase inventory sell through # Decrease markdowns # Optimize store assets and labor
10-20% Revenue
uplift
© 2016 Openbravo Inc. All Rights Reserved. 19
Buy-Online-Pickup-in-Store Benefits
Source:Teradata
For the Customer # Convenience of online shopping # Same day pickup # No shipping costs
For the Retailer # 37% purchase additional products while
picking up in-store # Leverage store assets # Increase foot traffic and upsell opportunity # Demonstrate unique and differentiated
guest experience
37% Purchase additional products
© 2016 Openbravo Inc. All Rights Reserved. 20
Excel at Customer Service
! Train your employees so they become real “ninjas”
! And empower them with the best technology
! So they deliver the best possible customer service
© 2015 Openbravo Inc. All Rights Reserved. 20
© 2016 Openbravo Inc. All Rights Reserved. 22
Inventory Visibility in Openbravo
In-store stock information and in other stores
© 2016 Openbravo Inc. All Rights Reserved. 23
Assisted Sale in Openbravo
Information to associates about applicable discounts and promotions.
Search by product characteristics.
Information about complementary products and best sellers.
© 2016 Openbravo Inc. All Rights Reserved. 25
Mobile is now Central to Omnichannel
! Consumers use mobile devices as an integral part of the shopping journey !
! Equipping sales associates with in-store mobile devices is a prerequisite for a successful omnichannel strategy
© 2016 Openbravo Inc. All Rights Reserved. 26
■ Ensure product data quality and consistency across all assisted and non-assisted sales channels with centralized management of all your products, prices and promotions.
■ Provide accurate inventory information regardless of the channel and gain single view of customer activity across channels.
■ Integrate seamlessly with the e-commerce platform of your choice or leverage existing connectors with solutions like Magento or Prestashop.
■ Prepare your stores to become multichannel hubs and benefit from new opportunities like in-store fulfillment.
Openbravo offers Omnichannel Readiness
© 2016 Openbravo Inc. All Rights Reserved. 27
Reimagining Retail
The experience of being in a store could become the most important product a retailer sells.
© 2016 Openbravo Inc. All Rights Reserved. 28
Key Takeaways
▪ Omnichannel customers are more valuable but demand higher speed, convenience and personalization
▪ Customers now expect retailers to offer Omnichannel capabilities such as Buy Online, Pick up in-Store or In-store Fulfillment
▪ Product information needs to be consistent across channels and leveraged to personalize assortments by channel and customer profiles
▪ You need enterprise-wide inventory visibility ▪ Choose technologies that help you evolve to
omnichannel at your own pace
© 2016 Openbravo Inc. All Rights Reserved. 29
Any Questions?
You can submit additional questions or comments after the webinar on Twitter.
Hashtag: #obravowebinar
#obravowebinar
© 2016 Openbravo Inc. All Rights Reserved. 31
Web: www.openbravo.com/contact Email: [email protected] Spain Office: +34 932 725 947 France Office: +33 (0)1 70 08 73 62 India Office: +91 33 4004 7358 Mexico Office: +52 559171 1841
Thank you very much for your attention
Top Related