KEEP UP WITH TODAYS CONSUMER: THE BELGIAN FASHION RESEARCH INSIGHTS - - PowerPoint PPT Presentation
KEEP UP WITH TODAYS CONSUMER: THE BELGIAN FASHION RESEARCH INSIGHTS URBAN CITY JUNE 1, 2016.. URBAN CITY / JUNE 1, 2016 FROM 10 SHOPPER CASE STUDY: Claudine Knop, Bart Muskala, Peter Grypdonck, CEO DBM CEO True North CEO
URBAN CITY ° JUNE 1, 2016.. URBAN CITY / JUNE 1, 2016
FROM RECORDS TO HUMANS
When data strategies meet humanity
10 SHOPPER BEHAVIOUR INSIGHTS
Including personalised report
CASE STUDY: CONSUMER DATA IMPACT
Data-driven impact at Vente-Exclusive.com
Claudine Knop, CEO DBM Bart Muskala, CEO True North Peter Grypdonck, CEO Vente-Exclusive.com
AN IN ITIATIVE FROM. AN INITIATIVE FROM
BE CONNECTED &- INSTANT SOLUTIONS.- IN THE MOMENT & INSTANT SOLUTIONS. BE CONNECTED & PERSONAL RELEVANCE. BE CONNECTED & PERSONAL RELEVANCE. CONTROL, RESPECT & PRIVACY. CONTROL, RESPECT & PRIVACY. CONTROL, RESPECT & PRIVACY.
PRIVACY IS A BIG THING. LEGISLATION IS ADAPTING FAST. PRIVACY IS A BIG THING. LEGISLATION IS ADAPTING FAST.
BRINGING CONSUMERS & BRANDS CLOSER TOGETHER. BRINGING CONSUMERS & BRANDS CLOSER TOGETHER.
BRINGING CONSUMERS & BRANDS CLOSER TOGETHER. BRINGING CONSUMERS & BRANDS CLOSER TOGETHER.
STEP BY STEP. STEP BY STEP. GENUINE INTEREST. GENUINE INTEREST. BE RELENVAN BE RELEVANT. NEVER GOSSIP! NEVER GOSSIP!
CONSUMER TOUCHPOINTS CONSUMER INTERACTIONS CONSUMER DATA CONSUMER INSIGHTS
BRAND CONNECTIONS VIA RELEVANT INTERACTIONS BRAND CONNECTIONS VIA RELEVANT INTERACTIONS.
1 2 3 4
FROM GENERIC DATA INSIGHTS FROM GENERIC DATA INSIGHTS TO PERSONALISED CONSUMER INSIGHTS TO PERSONALISED CONSUMER INSIGHTS PREFERS SHOPPING MALL & ONLINE BUYING, HAS A CLASSIC STYLE, BUYS ACCESSORIES FROM VERITAS, BASICS FROM VERO MODA, SHE LOVES COS, SHE IDENTIFIES HERSELF WITH &OTHER STORIES, PREFERS KIDS CLOTHES FROM CKS & JBC, SHOPS 19 TIMES A YEAR OF WHICH 38% ONLINE, SHE LIKES TO BE INSPIRED, ... FEMALE, 25 YEARS OLD, LIVES IN BRUSSELS, SASKIA. SOMETHING@GMAIL.COM, ID 13-291726-2918-22, 28 SHOP VISITS, ITEM A-E08EA, RETURNED A-E87EF, ...
CONSUMER TOUCHPOINTS CONSUMER INTERACTIONS CONSUMER DATA CONSUMER INSIGHTS
SUCCESS IN CONSUMER UNDERSTANDING REQUIRES ECOSYSTEM THINKING. SUCCESS IN CONSUMER UNDERSTANDING REQUIRES ECOSYSTEM THINKING.
RETAIL IS IN CONSTANT CHANGE & THE MAIN REASON FOR PREDICTIONS LIKE THESE. RETAIL IS IN CONSTANT CHANGE & THE MAIN REASON FOR PREDICTIONS LIKE THESE.
MANY INITIATIVES SUPPORT THE ATTRACTIVITY & IMPACT OF RETAIL. MANY INITIATIVES SUPPORT THE ATTRACTIVITY & IMPACT OF RETAIL.
THE MOST IMPORTANT SOURCE OF INSPIRATION IS YOUR OWN CONSUMER BASE, BOTH CLIENTS... THE MOST IMPORTANT SOURCE OF INSPIRATION IS YOUR OWN CONSUMER BASE, BOTH CLIENTS...
… AND NON-CLIENTS. … AND NON-CLIENTS.
HOW BETTER SERVE OUR DIFFERENT AUDIENCES? HOW BETTER SERVE OUR DIFFERENT AUDIENCES? HOW TO ATTRACT THE YOUNGER GENERATION? HOW TO ATTRACT THE YOUNGER GENERATION? HOW TO DIFFERENTIATE IN A PROMOTIONAL WORLD? HOW TO DIFFERENTIATE IN A PROMOTIONAL WORLD?
IN BETA
3.600+ CONSUMERS 3.600+ CONSUMERS OVER 40 BRANDS OVER 40 BRANDS 11.000 EVALUATIONS 11.000 EVALUATIONS 500.000+ DATA POINTS 500.000+ DATA POINTS
Of all Belgian female customers, 38% considers themself mostly to be classic. Sobre, contemporary, never too present with sobre accessories
BELGIANS ARE MOSTLY CLASSIC TYPES. BELGIANS ARE MOSTLY CLASSIC TYPES.
is the counterpart that mixes colors, patterns & trendy items together to a unique style
BUT THE OTHER END - THE COLORFUL MIX TYPE - RANKS 2ND BUT THE OTHER END - THE COLORFUL MIX TYPE - RANKS 2ND
NOT THE “FAMOUS” BRANDS HAVE HIGHEST ATTRACTION FOR SPECIFIC FASHION TYPES, NICHE PLAYERS DO...
clients of Terre Bleue consider themselves “classic” types.
NOT THE “FAMOUS” BRANDS HAVE HIGHEST ATTRACTION FOR SPECIFIC FASHION TYPES, NICHE PLAYERS DO...
OUTFITS ARE ALREADY BOUGHT AT ONE STORE, INDICATING INTEREST FOR “ONE STOP SHOP” SOLUTIONS. OUTFITS ARE ALREADY BOUGHT AT ONE STORE, INDICATING INTEREST FOR “ONE STOP SHOP” SOLUTIONS.
clothes accessories shoes lingerie make-up
SOME BRANDS ARE “CREATING” THE MARKET, SOME BRANDS ARE “CREATING” THE MARKET.
bought shoes from a fashion retailer before
bought shoes from a fashion retailer before is “creating” the market
bought shoes from PRIMARK
OTHERS HAVE AN “UNTAPPED POTENTIAL” WITHIN THEIR CUSTOMER BASE. OTHERS HAVE AN “UNTAPPED POTENTIAL” WITHIN THEIR CUSTOMER BASE.
has an untapped potential is “creating” the market
bought shoes from a fashion retailer before
bought shoes from LOLA LIZA
MALLS & RETAIL PARCS MAIN SHOPPING STREETS OTHER SHOPPING STREETS LOCAL SHOPS BOUTIQUES PERIPHERIC LOCATIONS / OUT OF TOWN
prefer malls & retail parcs
prefer out of town locations
prefer boutiques for their fashion needs
SHOPPING MALLS REMAIN A PREFERED LOCATION SHOPPING STREETS & BOUTIQUES AT THE SAME LEVEL. SHOPPING MALLS REMAIN A PREFERED LOCATION SHOPPING STREETS & BOUTIQUES AT THE SAME LEVEL.
RETAIL PARCS MAIN SHOPPING STREETS OTHER SHOPPING STREETS LOCAL SHOPS BOUTIQUES ZARA overperforms for main shopping streets with
PERIPHERIC LOCATIONS / OUT OF TOWN
SOME BRANDS ATTRACT AUDIENCES THAT OVER- OR UNDERPERFORM IN ONE OR MORE LOCATION TYPES. SOME BRANDS ATTRACT AUDIENCES THAT OVER- OR UNDERPERFORM IN ONE OR MORE LOCATION TYPES.
= + +
ZARA’s presence in malls & shopping streets is a good fit with its audience.
prefer to shop where they CAN shop =
NOT ALL BRANDS ARE PRESENT WHERE THEIR CUSTOMERS ARE. OVERPERFORMANCE OF FOOTFALL SHOWS A POTENTIAL MATCH. NOT ALL BRANDS ARE PRESENT WHERE THEIR CUSTOMERS ARE, OVERPERFORMANCE OF FOOTFALL SHOWS A POTENTIAL MATCH.
e5 has a potential market for
brands at boutiques
+ + +
for boutiques with
prefer to shop where they CAN shop
MALLS & RETAIL PARCS MAIN SHOPPING STREETS OTHER SHOPPING STREETS LOCAL SHOPS BOUTIQUES PERIPHERIC LOCATIONS / OUT OF TOWN
= ≠
THE AVERAGE FASHION CLIENT IS CONVERTED BECAUSE OF THE FOLLOWING CRITERIA: THE AVERAGE FASHION CLIENT IS CONVERTED BECAUSE OF THE FOLLOWING CRITERIA:
Offering articles that match shopper’s taste is crucial
Inspiration is key to convince shoppers
Only third comes ‘a good shop experience’
THE AVERAGE FASHION CLIENT IS CONVERTED BECAUSE OF THE FOLLOWING CRITERIA: THE AVERAGE FASHION CLIENT IS CONVERTED BECAUSE OF THE FOLLOWING CRITERIA: Many other parameters in the top 10 are related to “what you sell”
THE AVERAGE FASHION CLIENT IS CONVERTED BECAUSE OF THE FOLLOWING CRITERIA: THE AVERAGE FASHION CLIENT IS CONVERTED BECAUSE OF THE FOLLOWING CRITERIA:
‘a good shop experience’ should support OFFERING & INSPIRATION
CUSTOMER EXPERIENCE SHOULD SUPPORT THE “INSPIRE ME” EXPECTATION. CUSTOMER EXPERIENCE SHOULD SUPPORT THE “INSPIRE ME” EXPECTATION.
MANY BRANDS COULD CONVERT “GOOD” CUSTOMER EXPERIENCE SCORES TO LIFT THE INSPIRATION EXPECTATION. MANY BRANDS COULD CONVERT “GOOD” CUSTOMER EXPERIENCE SCORES TO LIFT THE INSPIRATION EXPECTATION.
Massimo Dutti
“high” expectations of its clients
EXPECTED MORE EXPECTED LESS UNDER DELIVERED OVER DELIVERED
Primark, with a price- driven promise underdelivers but given its clients have “lower” expectations it is not a problem KEEP IMPROVE COMMUNICATE FOLLOW UP
Retail window
Lookbook & folders
Word of mouth
WITH INSPIRATION AS A KEY DRIVER FOR PURCHASE, TOUCHPOINTS THAT DELIVER INSPIRATION ARE MORE CONVINCING. WITH INSPIRATION AS A KEY DRIVER FOR PURCHASE, TOUCHPOINTS THAT DELIVER ON THIS EXPECTATION ARE MORE CONVINCING.
MORE DIGITAL CHANNELS RANK AT THE BOTTOM AS LEAST PERSUASIVE. ON AVERAGE, THAT IS! MORE DIGITAL CHANNELS RANK AT THE BOTTOM AS LEAST PERSUASIVE, ON AVERAGE THAT IS !
Blogs
Social media
SOME BRANDS OVERPERFORM, DIFFERENT FROM THE AVERAGE. SOME BRANDS OVERPERFORM, DIFFERENT FROM THE AVERAGE.
The TOP 3 MOST PERSUASIVE channels for Vente- Exclusive.com are up to
2,8x 3,2x 2,4x
NEVER SHOPS ONLINE THE STATE OF E-COMMERCE... THE STATE OF E-COMMERCE...
DOES...
OMNI CHANNEL SHOPPERS . OMNI CHANNEL SHOPPERS SPEND 13% MORE IN TOTAL SIMILAR # OF BRANDS GO ‘SHOPPING’ TWICE AS MUCH OFFLINE SHOPPERS... OFFLINE SHOPPERS SPEND LESS SIMILAR # OF BRANDS GO ‘SHOPPING’ 13# / YEAR FIRST, THE GOOD NEWS... FIRST, THE GOOD NEWS...
Brands are still prefered Zalando enters top 3 ZALANDO MORE ATTRACTIVE FOR EXPERIENCED OMNI-CHANNEL SHOPPERS... ZALANDO MORE ATTRACTIVE FOR EXPERIENCED OMNI-CHANNEL SHOPPERS...
THE FUTURE OF SHOPPING IS INCREASINGLY ONLINE. THE FUTURE OF SHOPPING IS INCREASINGLY ONLINE. CURRENT SITUATION of the split for the Belgian market FUTURE ESTIMATION based on neighbouring countries Brands are still prefered Zalando enters top 3
THE TRUE CHALLENGE OF OMNI-CHANNEL? THE TRUE CHALLENGE OF OMNI-CHANNEL?
in a borderless omni- channel world? Brands are still prefered Zalando enters top 3
HOW TO DEFEND MARKET SHARE ? HOW TO DEFEND MARKET SHARE ? Brands are still prefered TRIAL & PREFERENCE Zalando enters top 3 EXCLUSIVITIES & PARTNERSHIPS
DIFFERENT NEED STATES EXIST IN THE MARKET. SOME NEEDS ARE MORE PRESENT THAN OTHERS. DIFFERENT NEED STATES EXIST IN THE MARKET, SOME NEEDS ARE MORE PRESENT THAN OTHERS.
considers herself to be a SHOPAHOLIC, for whom shopping is more like a HOBBY
is a FUNCTIONAL type: preferably 1 store, IN & OUT to buy all that is needed
SHOPAHOLIC SHOPPER SHOPAHOLIC SHOPPER YOUNGER HIGHER FREQUENCY PREFER ONLINE EXPECTS SHOP EXPERIENCE NEEDS TO BE INSPIRED SOCIAL SHOPPER/…. FUNCTIONAL SHOPPER OLDER LOWER FREQUENCY PREFER OFFLINE LESS TRENDFOLLOWING LESS NEED FOR INSPIRATION THE REASON SOME BRANDS OVERDELIVER TO SPECIFIC NEEDS, IS BECAUSE THEY OVERDELIVER ON SOME EXPECTATIONS MORE. THE REASON SOME BRANDS OVERDELIVER TO SPECIFIC NEEDS, IS BECAUSE THEY OVERDELIVER ON SOME EXPECTATIONS MORE.
NOT ALL BRANDS FULFIL THE SAME NEEDS EQUALLY GOOD. NOT ALL BRANDS FULFIL THE SAME NEEDS EQUALLY GOOD.
The average shopper knows on average 25 brands. We buy at “only” 7 brands or 28% of the brands we know.
NO CLEAR LEADERSHIP, THE HIGHEST SCORING BRAND IS NAMED BY A MERE 8% OF THE MARKET
OVERALL BRAND KPIS FOR BRANDS SHOW A VERY SATURARED MARKET, WITHOUT 1 BRAND THAT RULES THEM ALL - CFR. END OF CATEGORY LEADERSHIP. OVERALL BRAND KPIS FOR BRANDS SHOW A VERY SATURATED MARKET, WITHOUT 1 BRAND THAT RULES THEM ALL - CFR. END OF CATEGORY LEADERSHIP.
C&A, TOGETHER WITH H&M DOMINATE THE TOP 3 FOR EVERY BRAND KPI C&A, TOGETHER WITH H&M DOMINATE THE TOP 3 FOR EVERY BRAND KPI
ONCE YOU HAVE SOLVED POTENTIAL UNDERPERFORMANCE
MORE IMPORTANT IS TO HAVE A LOOK AT THE “RELATIVE” SCORES OF YOUR BRAND KPIS MORE IMPORTANT IS TO HAVE A LOOK AT THE “RELATIVE” SCORES OF YOUR BRAND KPIS C&A consequently OVERPERFORMS compared to the average Only the relative % of fans is ON PAR
FOCUS ON BUILDING TOP OF MIND & AWARENESS KPIS
RELATIVE SCORES ARE BEST PLOT AGAINST YOUR RELEVANT SET OF “COMBINED BRANDS”. RELATIVE SCORES ARE BEST PLOT AGAINST YOUR RELEVANT SET OF “COMBINED BRANDS”.
GOOD SCORES ON BOTH METRICS, INCREASES YOUR BRAND EQUITY SCORE. GOOD SCORES ON BOTH METRICS, INCREASES YOUR BRAND EQUITY SCORE. guarantee for high retention leaves potential for acquisition
are “fan” of the brands they shop at, but...
LOW % OF HATERS HIGH % OF HATERS LOW % OF LOVERS HIGH % OF LOVERS
4 IN 10 BUYERS OF YOUR BRAND ARE FANS, ON AVERAGE 27% OF NON BUYERS IS A “HATER”. 4 IN 10 BUYERS OF YOUR BRAND ARE FANS, ON AVERAGE 27% OF NON BUYERS IS A “HATER”.
COS has the highest brand equity score of
Niche players with a very specific promise & target audience, show a mix of both many lovers & haters. Low scores for both lovers & haters puts brands in an ‘apathetic’ zone which lacks ambassador strategies
LOW % OF HATERS HIGH % OF HATERS LOW % OF LOVERS HIGH % OF LOVERS
BRANDS DO GOOD TO STAY OUT OF THE APATHETIC ZONE, WORKING THEIR WAY TO MORE FANS & LESS HATERS. BRANDS DO GOOD TO STAY OUT OF THE APATHETIC ZONE, WORKING THEIR WAY TO MORE FANS & LESS HATERS.
THE BIG SPENDER. THE CLASSIC TYPE THE BIG SPENDER. THE ONLINE FIRST BUYER THE PRICE SENSITIVE BUYER
BUT A BRAND CAN’T BE A LOVE BRAND FOR EVERYONE... BUT A BRAND CAN’T BE A LOVE BRAND FOR EVERYONE...
AN AVERAGE BRAND HAS A SIMILAR SPLIT OF ITS CUSTOMER BASE AN AVERAGE BRAND HAS A SIMILAR SPLIT OF ITS CUSTOMER BASE
medium spenders, visiting your stores a limited # of times a year, often just once
WE ALL KNOW WHERE THE MONEY COMES FROM... WE ALL KNOW WHERE THE MONEY COMES FROM...
brand’s client base accounts for
WE ALL KNOW WHERE THE MONEY COMES FROM... BRANDS WITH HIGHER BRAND EQUITY SCORES ATTRACT ON AVERAGE A HIGHER NUMBER OF HIGH & BIG SPENDERS.
ARE YOU THE MERCEDES OR THE TESLA OF YOUR MARKET? OR SATISFIED WITH A MAINSTREAM POSITIONING? ARE YOU THE MERCEDES OR THE TESLA OF YOUR MARKET? OR SATISFIED WITH A MAINSTREAM POSITIONING?
LOW CENTRALITY HIGH CENTRALITY LOW DIFFERENTIATION HIGH DIFFERENTIATION
ASPIRATIONAL BRANDS
possibility to get a price premium for their products UNCONVENTIONAL BRANDS are focused or niche brands that will NEVER convince all, but are very distinctive compared to others
LOW CENTRALITY HIGH CENTRALITY LOW DIFFERENTIATION HIGH DIFFERENTIATION UNCONVENTIONAL PERIPHERIC ASPIRATIONAL MAINSTREAM
FOR THE AVERAGE SHOPPER (BOTH CUSTOMERS & NON CUSTOMERS), BRANDS ARE POSITIONED BASED ON CENTRALITY & DIFFERENTIATION. FOR THE AVERAGE SHOPPER (BOTH CUSTOMERS & NON CUSTOMERS), BRANDS ARE POSITIONED BASED ON CENTRALITY & DIFFERENTIATION. Graph for the average market
Many famous brands, like JBC have high centrality (TOM) and are able to be evaluated to be “different” Zalando, still a “niche” player is mainly considered “different” by its non- customers PRIMARK, coming from nothing is already part of the mainstream brands
LOW CENTRALITY HIGH CENTRALITY LOW DIFFERENTIATION HIGH DIFFERENTIATION
DEPENDING ON THE SUBSET YOU FOCUS ON, BRANDS MOVE BETWEEN QUADRANTS. DEPENDING ON THE SUBSET YOU FOCUS ON, BRANDS MOVE BETWEEN QUADRANTS. Graph for the 25-35 years old category
For a “younger” audience, Zalando & Primark are more aspirational than for the average market
QUESTIONS? QUESTIONS? FOOD & DRINKS FOOD & DRINKS SHARE THOUGHTS SHARE THOUGHTS DRIVE SAFE! DRIVE SAFE!
URBAN CITY ° JUNE 1, 2016.. THANKS FOR BEING HERE.