The Digital Transformation: Succeeding in Omnichannel Retail
StudioForty9 specialise in Ecommerce
StudioForty9 specialise in Ecommerce
In particular, we specialise in integratedecommerce for Irish retailers
StudioForty9 specialise in Ecommerce
In particular, we specialise in integratedecommerce for Irish retailers
Integrated retail ecommerce = omnichannel retail
Our future is tied to retail and we know that the future of retail is omnichannel
StudioForty9 Average Client Performance Over 3 Years
% Growth in Number of Sessions 38%
% Growth in Average Session Duration (faster sites) -2%
% Growth in Number of Transactions 82%
% Growth in Conversion Rate 45%
% Growth in Average Order Value 21%
% Growth in Average Monthly Revenue
93%
170%
Our Vision for your Growth: 30% YOY
2017
100% 130%
2018 2019 2020
220%
High Street Retail Under Pressure?
Irish ConsumersSpending Pattern Online
70% 30%
ONLINE SPEND
OVERSEASONLINE SPEND
DOMESTICALLY
Retail e-commerce sales as share ofretail trade in selected countries from 2014 to 2017
Bricks & mortar retail is under pressure but omnichannel customers
spend 15-30% more than single or multichannel customers
Studies have found that 75% of customers are more likely to visit a store
if they come across local retail information on the web
The very fact that 70% of Irish consumers are spending overseas means
that there is still an enormous market for Irish retailers online.
Across Europe, online as a share of total retail is growing at pace.
How are we to continue to achieve this growth?
Omnichannel Retail: A Digital Transformation
WANT TOBUY ONLINE91%WANT TO BUY ONLINEAND RETURN TO STORE86%
HOW YOUR CUSTOMERS WANT TO ENGAGE WITH YOU
BELIEVE STORE ASSOCIATESARE UNINFORMED81%WANT TOSHIP-TO-STORE73%WANT TO PICK UPIN-STORE (BOPIS)61%
Physical stores nationwide
Pre-existing known customer base and customer loyalty
Pre-existing Brand Awareness
Stock, Logistics and Operational Experience
In-store Experience, Helpful Staff and Customer Service
Partnerships and Relationships with Suppliers and Distributors
Retailers have significant advantages over pure play and market-places
INITIAL ECOMMERCE MODEL
Omnichannel Step 1:
SELL TO EVERYONE, EVERYWHERE
Omnichannel Step 2:
SELL EVERYTHING: FULL ACCESS TO THE DEEPEST AND WIDEST
INVENTORY POSSIBLE
Omnichannel Step 3:
FULFILL EVERYWHERE
COLLECTIONS & RETURNS
Omnichannel Step 4:
USE THE DATA AND PLEASE THE CUSTOMER
More expert information instore
More expert information in-store
BEYOND OMNICHANNEL?THE COOPERATIVE
SHARED WAREHOUSING, INVENTORY, LOYALTY
QUESTIONS
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