Today, nearly all consumers pre-shop before stepping into a store, begging the question of retailers worldwide: are you where they are?
Become familiar with the next phase of retail and learn:
- What the new path to purchase looks like
- Why retailers must keep consistent brand messaging across all mediums
- How responsive design and mobile apps are critical to conversions
2. SPEAKERS
MODERATOR
Stephen Derksen
Business Development Manager,
Retail and Hospitality
Pivotal Labs
@StephenDerksen
PANELISTS
Jeremy Black
Director, Retail, CPG and
Automotive
Pivotal Labs
@JeremyWBlack
Jennifer Lee
Omnichannel Retail Leader
Deloitte
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3. AGENDA
Opportunities and Trends
Path to Purchase
Omnichannel
Responsive Design
Mobile Apps
Platform
Key Takeaways/Q and A
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4. OPPORTUNITIES
Consumers expect an omnichannel shopping experience that is seamless
across in-store, web and mobile channels
• 65% of consumers prefer a
browser experience for
shopping activities
• Shoppers who interact with
more than one channel
spend 18%-36% more
• mCommerce will skyrocket
from $3 billion in 2010 to $31
billion in 2016
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5. TRENDS
• Shopping is social
• Millennials are setting the tone
• Mobile is the medium
• Create one seamless,
omnichannel shopping
experience
• Big Data provides great insight
Source: http://blog.bazaarvoice.com/2013/02/26/the-top-5-consumer-driven-trends-in-retail/
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6. PATH TO PURCHASE
Purchase path was seen as traditionally linear
Pre-Purchase
Purchase
Post-Purchase
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•
•
•
•
Social interaction
Product discovery
Marketing
Price-checking
• Cashless/cardless
purchase online or in-store
• Self-checkout
• Order management
• Customer service
• Loyalty
7. PATH TO PURCHASE
Connected consumers define the path - it is not linear!
How Erica buys
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8. PATH TO PURCHASE
How do you fit mobile into that path?
• 80-90% of customers
are pre-shopping
before coming into
store – if you’re not
part of this process,
you’ll lose customers
• Mobile allows for
collection of behavioral
data
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9. BUSINESS MODEL
DISRUPTION: OMNICHANNEL
The Past:
Store 1.0
“Customers will
come to us”
The Recent
Past:
Store 1.5
e-commerce
“We need to
sell online”
The Present:
Store 2.0
Multi-Channel
“Many customers
shop across
channels”
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The Future:
Store 3.0™
OmniChannel
“Relevant products
and services
anywhere”
10. TRANSFORMING
THE BUSINESS MODEL
Retailers will experience significant profit improvement
and brand awareness by investing in OmniChannel capabilities
Store
OmniChannel
E/M-Commerce Sales
Sales ($ 000s)
$900
$300
Gross Margin
47%
47%
Occupancy and Labour
26%
0%
0%
15%
SG&A
11%
11%
EBIT ($ 000s)
$90
$63
Conversion
20%
3%
90
200
Online Costs
Traffic (000s)
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12. PRE-EMPTIVE DISTRIBUTION
Why is it important?
Allows retailers to gain
easier and greater
access to consumers
beyond the traditional
existing retail network
Presenting products where customers are
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13. FOCUS ON CONTENT
Why is it important?
By developing a
content strategy for
targeted customer
demographics,
retailers can unify the
content-driven
experience across all
devices and channels
Providing unified, device-agnostic shopping experience
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14. BIG DATA
Why is it important?
Allows companies
to gain a deeper
understanding of
customers to
enhance customer
experience and
increase profitability
Linking data to provide personalized experience
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15. GAMIFICATION
Why is it important?
Allows retailers to
better engage
customers throughout
their paths to purchase
as well as outside of
their shopping time,
driving loyalty and
action
Creating multichannel customer engagement
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16. DIGITALLY ENHANCED SHOPPING
Why is it important?
Digital technology
allows retailers to
maximize limited selling
space by creating
“endless aisles” and
increasing advertising
opportunities, as well as
to enhance the
shopping experience
Introducing ‘endless’ virtual toy aisles
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17. ENGAGE ACROSS MEDIUMS
The mediums you use to engage your customers on the
path to purchase and through omnichannel should be
responsive and mobile
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20. ONE PLATFORM
You need a platform that addresses Omnichannel,
Responsive Design, and Mobile Apps
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21. PLATFORM BENEFITS
A Responsive Mobile Platform enables the
creation of high performance web and mobile
applications that deliver a rich user experience
Benefits:
• Rich user experience increases conversions
• Broad device coverage attracts more visitors
• Provides content parity across devices
• “One web” vision enables a lower TCO
• One codebase to manage
• Improved website performance
• One URL drives higher SEO and SMO
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22. WHAT TO LOOK FOR
An ideal platform has:
• Tools to create a Responsive Design website
for all devices
• A Server that provides browser and device
optimization for displaying content
• Middleware that creates mobile-ready APIs
for your applications
• Connectors that simplify integration with
backend systems
• Pre-built modules that reduce the cost and
effort of development
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23. KEY TAKEAWAYS/Q&A
• Path to purchase: be part of the
pre-purchasing process
• Omnichannel: be consistent across all
mediums and highlight your differentiators
• Responsive Design: provide a consistent online
experience, irrespective of device
• Mobile Apps: offer your customers access to your
brand wherever they are
• Platform: use a provider who has one platform that
addresses all your needs
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