Introduction: Richard Guiney, CEO DublinTown
A TIME OF RAPID CHANGE THE WORLD IS CHANGING VERY FAST & WE NEED TO ADAPT USE OF CITIES IS BEING REDEFINED 21st century will be defined by technology ADVENT OF M-COMMERCE Mobile enabled website Retailers must be multi-channel Evenings & Sundays
We’re talking big numbers here & the rate of change is rapid: Gone are the days when we had to wait to share our experiences by word of mouth. Now we upload videos, share photos, chat, tweet and connect instantly. - It is estimated there will be 50 billion connected devices in the world by 2020 - 500m photos are uploaded and shared online every day - Today 100 hours of video are uploaded to Youtube every minute (compared to 0 hours in 2007)
Customers demand digital… Nearly 20% of consumers surveyed by PWC are spending more than half of their disposable income online [PricewaterhouseCoopers] 72% of consumers use their smartphone in-store and 42% make use of in-store multimedia shopping aids [DigitasLBi] By 2016 , 23% of total retail spend, and 37% of total advertising revenues will be online. Small businesses that use the web frequently have higher sales growth (x3) those that don’t. [Boston Consulting Group] Mobile devices are the fastest growing technology for consumers to access content and services online, accounting for 20% of all ICT sales in 2013, and 57% of ICT market growth [International Data Corporation]
M-COMMERCE DIRECT IMPACT OF 100 110 120 130 140 70 80 90 March June 2006 September December March June 2007 September December March June 2008 September December March June 2009 September December March June 2010 September December March RETAIL SALES 2006 - 2020 June 2011 September December Dept Store March June 2012 September December March Textiles, Clothing & Footware June 2013 September December March June 2014 September December March June 2015 September December March June 2016 September December March June 2017 September December March June 2018 September December March June 2019 September December March June 2020 September December
Retailers la lacking dig igital experiences ris isk sales £156.8 BN of spend is influenced by digital. What happens if digital channels are not offered? CONSUMERS WHO WOULD BUY LESS WITHOUT DIGITAL OFFERING : 5.5% TOTAL SPEND LOST FROM THIS GROUP: £4.3BN CONSUMERS WHO WOULD USE ANOTHER RETAILER: 4.1% TOTAL SPEND LOST FROM THIS GROUP: £7.9BN TOTAL CONSUMERS WHO WOULD TAKE ACTION: 9.6% TOTAL SPEND LOST FROM THIS GROUP: £12.2BN
FACING THE CHALLENGE THE BUILDING OF EXPERIENCE EVENING TIME USE 65% would shop and socialise if shops stayed open 80% want to socialise as part of the same trip DISTRICT IDENTITIES Each district must have its own identity & range of offer
UNDERSTANDING THE PSYCHOLOGY What determines where people shop? Do you shop in Dublin because of good 60% amenities, restaurants & coffee shops ? 54% 54% 90% 82% 50% 80% 70% 40% 60% 29% 30% 50% 26% 24% 40% 20% 30% 14% 20% 10% 10% 8% 10% 0% 0% Variety of Value A good vibe Availability Nice places Nice bars Yes No opinion No shops of brands to meet
FOOTFALL COMPARISON 160,000 140,000 120,000 100,000 Footfall 80,000 Purple Flag Area Non-Purple Flag Area 60,000 40,000 20,000 0 H10 H11 H12 H13 H14 H15 H16 H17 H18 H19 H20 H21 H22 H23 Hour of day
Recommend
More recommend
