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3x3 Insights - The Digital Transformation of Alcohol Retail

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3x3 Insights - The Digital Transformation of Alcohol Retail

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Thrive in Today's Beverage Alcohol Marketplace
CLBA is hosting it's first education seminar on August 1st from 2pm to 5pm. During this event we'll discuss the changes happening across alcohol retail and ways you can compete for customers. The event is sponsored by 3x3 Insights and will feature three speakers discussing The Digital Transformation of Alcohol Retail, Strategic Planning for Retailers: The Most Effective Response to New Competition, and Looking Toward the Future: A View from the Wholesale Tier.

Thrive in Today's Beverage Alcohol Marketplace
CLBA is hosting it's first education seminar on August 1st from 2pm to 5pm. During this event we'll discuss the changes happening across alcohol retail and ways you can compete for customers. The event is sponsored by 3x3 Insights and will feature three speakers discussing The Digital Transformation of Alcohol Retail, Strategic Planning for Retailers: The Most Effective Response to New Competition, and Looking Toward the Future: A View from the Wholesale Tier.

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3x3 Insights - The Digital Transformation of Alcohol Retail

  1. 1. The Digital Transformation of Alcohol Retail August 1, 2018 Presented by
  2. 2. ‣ Director of Marketing for 3x3 Insights ‣ 11 Years in Digital Marketing & Strategy ‣ Built over 60 websites ‣ Heineken USA, Budweiser, Bud Light & PepsiCo ‣ Build Trade Programs Alcohol Retailers ‣ Native in South Florida ‣ Golfer ‣ Whiskey Connoisseur 2 About Brad:
  3. 3. ‣ Where We are Today ‣ Why it’s Important to Alcohol Retail ‣ Three Ways to Transform Digital Retail Strategy ‣ What should my digital strategy look like? 3 What You’ll See Today:
  4. 4. 4 Why is digital important in today’s retail marketplace?
  5. 5. 5 Knowledge
  6. 6. 6
  7. 7. Amazon Effect: The Amazon effect is the ongoing evolution & disruption of the retail market, both online and in physical outlets, resulting from increased e-commerce.  ‣ Brick and Mortar  ‣ Membership/Loyalty ‣ Convenience ‣ Personalization ‣ Digitized Retail (Amazon Go) ‣ Distribution 7
  8. 8. 8 Amazon’s Membership Programs Drive Trip Frequency These trips stole another 1 trip per month from Brick & Mortar retailers YoY
  9. 9. 9 Amazon Closure Rates Vary by Product Category 67% of Prime members buy gadgets from Amazon, but only 2% have bought alcohol from Amazon
  10. 10. 10 Amazon Closure Rates Vary by Product Category Whole Foods helps Amazon close the gaps in problematic categories
  11. 11. 11 Should Amazon effect matter to alcohol retailers?
  12. 12. 12 The Answer: YES Last year, 90% of retail growth in Fast Moving Consumer Goods (FMCG) came from digital, with eCommerce driving growth across product categories. Source: Nielsen 2017 Consumer Report ‣ On-demand alcohol delivery services reached $103M in 2017 ‣ Online grocery orders reached $87M ‣ Direct-to-consumer online sales reached $410M ‣ Online speciality retailers reached $975M
  13. 13. 13 Estimated that alcohol sold online will be worth 
 $7-$15 Billion annually over the next few years.
  14. 14. 14 How can retailers start using digital to compete in today’s alcohol marketplace?
  15. 15. 15 Three Ways to Transform 
 Digital Retail Strategy 3. Convenience + Fulfillment2. Personalized Engagement1. Understand the Customer
  16. 16. 16 1. Understand the Customer
 
 When so much of retail is about experience, 
 alcohol retailers need to make sure they 
 understand their customers to deliver value 
 across the consumer journey.
  17. 17. Understanding the Consumer Journey 17 Before leaving work, she looks at recipes online. Clicking through, she browses options Jessie uses the map functionality on the website to find the nearest retailer and places the order. Leaving work, she heads to the liquor store where she shows her app to the sales person, who has her bottle of wine ready. While enjoying dinner, Jessie snaps an Instagram- worthy picture of her meal and wine glass She gets a “Did you love it?” email, inviting her to review the wine on the retailer’s platform
 Meet Jessie, 26 year old marketing professional who works in Denver
  18. 18. 18 What touch points are consumers using: ‣ Website ‣ Search ‣ Social Media ‣ Email Marketing ‣ Experiences ‣ Mobile ‣ Voice Assistants Consumers are leaving their digital footprint across multiple touch points, including the products thew view on your site.
  19. 19. 19 “If you can't measure it, you can’t manage it.” -Peter Drucker
  20. 20. 20 Using Analytics to 
 Drive Action ‣ Track your customers movement across all channels ‣ Understand customer purchase behavior ‣ Purchase History ‣ Basket Trends ‣ Price Sensitivity ‣ Promotional Impact ‣ Time of Day ‣ Leverage insights about your customers to make business decisions for your business: store layout, product optimization, inventory, and promotions.
  21. 21. 21 2. Personalize the Experience 
 How do you get the right product in front of 
 the right consumer and create an on-brand experience that leads to sales, whether online 
 or across channels?
  22. 22. 22 The Power of Personalization When it comes to attracting and retaining customers, retailers can’t treat everyone the same anymore. ‣ 74% of online consumers get frustrated when content isn’t relevant to them ‣ 67% of consumers have unsubscribed from an email list when sent irrelevant information ‣ 43% ignored further communications ‣ 32% stopped visiting the company’s website or mobile app altogether
  23. 23. 23 Types of Personalization Personalization can be implemented in a variety of ways: ‣ With the help of user ID tracking and loyalty programs, retailers can retarget your customers to the brands you want them buying ‣ Customize emails that feature the customer’s name and product preferences (26% higher unique open rates) ‣ Generate individualized landing pages that feature customer-specific products and deals ‣ Let them know about promotions that are relevant to them ‣ Keep your customers updated with the latest product info and curated content
  24. 24. 24 Individualized marketing automation and customer engagement based on what your customers are actually buying. ‣ Customers enroll at checkout by typing in their phone number Enter Point Personalized 
 Offers Personalized Marketing Automation
  25. 25. 25 3. Convenience + Fulfillment 
 For the first time, in 2016, consumers in the U.S. spent more food dollars on restaurant-prepared meals than on meals prepared at home. 
 The very nature of eating out is moving inside.
  26. 26. Digital Delivery has Changed Consumer Demands 26 Convenience will influence your consumers purchasing behavior.
  27. 27. 27 Bridging the Convenience Gap One possible response for anticipating this usage of digital platforms and third-party apps is the implementation of a buy-online, pick-up in store function. ‣ Consumers will soon be expecting instant order fulfillment, especially if they are purchasing for the evening’s meal or special occasion. ‣
  28. 28. 28 Inventory + Fulfillment Customers experience disappointment with a brand or service when inventory is not in stock or delivery doesn’t arrive quickly. They are also less likely to purchase when shipping is not free or is perceived to be too slow or expensive. ‣ Live inventory ‣ Delivery tracking/Pickup locations ‣ Incorporated shipping cost 
 These can give your customers the transparency and experience they desire.
  29. 29. 29 Mobile + Voice: Google, We Have a Problem Mobile ‣ In recent years, mobile search has overtaken searches done on desktops. Retailers are leveraging both websites optimized for mobile and mobile apps to reach their customers Voice ‣ In 2018, we expect consumers to interact with conversational AI like never before. Alcohol brands like Johnnie Walker have invested in the creation of Alexa Skills - ways to interact with their customers through the Amazon Echo Voice interactions are a new and important place for building out that digital shelf
  30. 30. 30 What to remember?
  31. 31. 31 Your digital strategy should: ‣ Take into account the basics of analytics: consumer behavior, basket analysis, product trends, promotional impact and price sensitivity ‣ Provide personalized communications and engagement across platforms that will make life easier for the consumer. Relevance is key. ‣ True omni-channel capability, including consistent product information tailored to each platform and device, with optimized experiences for each device or interaction. ‣ Incorporate your brick-and-mortar stores into your order management and order fulfillment strategy - with "click and collect",
  32. 32. Questions? Presented by
  33. 33. Thank You!!! Brad Davis Director of Marketing brad@3x3insights.com

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