Differentiate Now for Retail Leadership The Omni Channel Customer Experience

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1 Differentiate Now for Retail Leadership The Omni Channel Customer Experience Singapore October 11 th, 2011 Ivano Ortis Head International, IDC Retail Insights Agenda Industry Trends What is Changed? Omni-channel customer experience Role of mobile Best Practices & Benefits Essential Guidance 3 1

2 Global Retail Performance Indicator 4 Permanently changed ecosystem Ongoing trends Risks from economic cycles Profit pressure Social unrest in emerging regions Newer trends Changed competitive landscape Localization strategies Social commerce Omni-channel 2

3 B2C ecommerce Spending Trends (US$) - AP $250,000,000,000 $200,000,000,000 $150,000,000,000 $100,000,000,000 Other APEJ Hong Kong China $50,000,000,000 $ Source: IDC Worldwide New Media Market Model, May 2011 Social Networks and Retailing in AP Not at all Important role in our future decisions % 20% 40% 60% 80% 100% Extremely Important role in our future decisions 88% of AP Retailers think Social Networks will impact merchandise assortment and store planning decisions in future 3

4 The online shopper The customer journey is evolving to include many more touch points Start Browse Research Discount / Reward Transact Follow-up Facebook Blogs Daily deal sites Blogs In-store kiosk Review site In-site review Coupon sites In-site reviews Facebook Twitter Mobile app Click to chat Coupon sites Mobile app Twitter Online store Review sites Loyalty scheme Online store Facebook What Happens to How Retailers Measure Profitability Same Store Sales Same Shopper Sales 4

5 The Omni-channel Customer Experience Multichannel shoppers spend15 30% more than single channel Omni-channel shoppers will: spend over 20% more than multichannel consumers exhibit stronger loyalty influence others to patronize the brand Consequences Increase online conversion rates Store sales influenced by online research = 3-5 x ecommerce sales Consumer experience goes mobile Store experience & loyalty innovation Expansion & profit margins will come from channel convergence The role of mobile Mobile unifies channels Interaction and engagement In-store shopping Mtail Marketing and promotion Online shopping 5

6 Mobile omnichannel enabler and? Revenue losses due to out of stocks limited assistance long checkout queues Mobile can be the answer, and.. Mobile commerce to grow by 57% by 2014 Average spending per mobile user to grow by 22% US mobile web traffic to surpass PC web traffic by 2015 Mobile Retailing is Now. Be Ready or be Doomed. Recommended actions: Mobile designed site version Search engine, bar code/qr scanning, shopping-list Price and product comparison, store inventory lookup, store locator Social media integration Mobile services to loyal clients (apps) Less than 3 clicks mobile-optimized checkout Omni-channel orchestration 16 6

7 Best Practices - Tesco June 2011, Tesco launched Homeplus Virtual Store in a subway station of Seoul, South Korea. The first ever fully QR enabled virtual shop The station s wall shows images of products with their specific QR code. By scanning with their mobile devices the relevant QR code on the wall, commuters can purchase products. The scanned products are delivered at the address and at the time required by consumers. Delivery fees range from 0.92$ (1000 KRW) to 3.7$ (4,000 KRW), depending on the hour of the day. The nearest Homeplus store to the customer s address delivers the products. Each Homeplus store delivers every two hours for a total of 10 times a day. +10,000 consumers visited virtual store in the first 4 weeks 76% increase of new online shoppers 133% growth of online sales - turning Tesco into Korea s #1 online retailer. Multichannel Case Studies Sears Consolidates orders from Kmart and various local merchants that Sears partners with 7

8 Marks & Spencer Case study Challenge expand click & collect services to Simply Food supermarket chain Objective create a profitable multi-channel service Solution implemented launched Shop your way click&collect service rich media website and real-time stock availability information. Food and non-food Launched m-commerce site M&S is consolidating its supply chain M&S is consolidating back-end IT Initial Benefits: 413M non-store sales (+27% YoY), 20% food & groceries 9% growth in conversion rate since launch of Shop your way 35 million savings from supply chain consolidation 1 out 5 online customers choose click&collect (drives in-store traffic) Website traffic up 30% M-commerce site: 13,000 orders, 1.2M visitors in the first 4 months (iphone, Android) Multichannel case studies Retailer Multichannel Sales Growth Channels Notes Argos 1.9B (43% of total sales) +36% (Check and Reserve) in store ordering, reserve and collect, iphone App Argos plans to add 10,000 online only products Halfords Nordstrom 9% of total sales Inventory turnover increase (4.84 in 2005 to 5.5 in 2010) +34% Integration of online + store +8% same store sales (-11% before the integration) Online/store inventory integration 10% of web traffic from mobile Acuqired HauteLook private online retailer ($180M) 8

9 Omni-channel Process & IT Best Practices 1. Establish a customer experience improvement office MDM, data quality/integrity, digital product information RDI (demand forecasting, embedded analytics, customer intelligence) 2. Deliver basic cross-channel services Loyalty/customer service Click-try-reserve-collect Personalized/targeted promo 3. Consolidate supply chain & merchandise mgmt across channels Sourcing, merchandising, price & promo optimization Front to back-end IT systems integration 4. Deliver advanced multichannel services Centralized multichannel management platform Thin/smart clients to the edge POS = gateway to other in-store technologies Real-time capabilities 5. Integrate transactional channels with relational channels to drive consumer influence and brand image Top 10 Drivers to IT Investments Global Retail, n = 502 Note: Respondents chose 3 options; the top 10 out of a total of 18 options are shown. Source: IDC's Vertical Views Survey,

10 Omni-Channel Retailing Opportunities for benefits 15%-35% increase in average transaction size 5%-10% increase in loyalty customers' profitability 30-45% increase in online conversion rates 20%-60% reductions of inventory losses as a % of sales 2%-5% reduction of warehouse workforce costs 20%-35% reduction of store systems TCO (when implementing centralized store system architecture) Improved customer service Optimized future product planning... Actions for Leadership Real-time operations real-time capable architectures for real-time access and consumption of fragmented information Retail Intelligence foundational platform, advanced forecasting, embedded analytics Omni-channel integration to reduce post-season inventory obsolescence and markdown liabilities Digital conversion to generate higher sales and profits Cloud adoption to improve IT productivity and enable greater business capabilities 10

11 Questions & Answers Ivano Ortis Head International IDC Retail Insights Have you joined our IDC online community? Sign-up for our free monthly newsletter: Related Research: Perspective: Top 10 Recommendations for the Holiday Season Document # GRI229659, August Appendix 11

12 IDC Overview IDC (International Data Corporation) is the premier independent global market intelligence, events, and advisory firm for information technology, telecommunications, and consumer technology markets More than 1,000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 50 countries We have been delivering IT intelligence, industry analysis, market data, and strategic guidance since 1964 Our multilingual, multicultural workforce surveys over 250,000 technology users and decision makers annually, delivering unrivaled coverage IDC is a subsidiary of IDG, the world's leading technology media, research, and events company 21 IDC s Global Network of Regional Offices analysts providing a global information network Coverage of 50+ countries around the world More than 40+ years experience analyzing IT and Communications markets 22 12

13 IDC s Family of Industry Lines of Business: Insights: Industry-Specific Advisory Services Insights are a series of industry-focused lines of business within IDC Each Insights focuses on technology-enabled business innovation within a single industry Insights leverage 40+ years of IDC research methodologies and processes Each is an agile start up with a global footprint 23 IDC s New IT Executive Programs IDC s IT Executive Programs consists of a family of research programs intended to help today s time-constrained IT executives make more effective technology decisions. The goal of the program is to offer accurate and timely research that will assist IT executives in mitigating technology risks, maximizing the effectiveness of IT investments, identifying and capitalizing on new opportunities, and bringing forth solutions that are aligned with the organization s business objectives. Our flagship offering in the series, the Executive Technology Advantage Program, includes a strategic partnership with IDG s CIO Executive Council, a global peer advisory community of 750 global enterprises and more than 1,400 IT leaders. Through this new partnership, IT executives will have exclusive access to IDC s team of 1,000+ global analysts, IDC Insights industry specific research, and the CIO Executive Council s member CIOs, offering a global resource to help accelerate the decision-making process. The new offering brings together two of the most powerful brands in the IT industry. Our IT Executive Programs offer a range of services that align with the needs of IT executives from very personalized guidance with a CIO advisor to specific research to assist with critical decision making. For complete details visit us at 24 13

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