The Revolution Will Be Televised! Navigating retail in fast-changing - - PowerPoint PPT Presentation
The Revolution Will Be Televised! Navigating retail in fast-changing times Robin Bevan, Managing Director, Javelin Group 5 Hallmarks of winning retailers ANALYTICS BOLDLY DIGITALLY- EMPOWERED JOINED-UP, NIMBLE, EVERYWHERE INNOVATIVE
The Revolution Will Be Televised!
Navigating retail in fast-changing times
Robin Bevan, Managing Director, Javelin Group
ANALYTICS EVERYWHERE BOLDLY INNOVATIVE DIGITALLY- COMMITTED C-SUITE EMPOWERED TALENT JOINED-UP, NIMBLE, MULTI-SPEED IT
Our focus: transforming and equipping retailers for the digital era Strategic questions in the digital era Retailers, brand-owners, & B2Bs worldwide
Channel strategy Customer experience Stores & estate
Technology plan Investment & ROI
Retail strategy advisory + systems integrator Experienced team of >250 retail professionals Vertical retail focus across all channels Digital retail is at our heart
Stores OmniAnalytics
Strategy
Operations Technology
Channels
STORES OMNI-CHANNEL MOBILE ECOMMERCE
Digital Marketing Digital Content & Services Digitally- Enabled Commerce
ECOMMERCE PARTICIPATION % EBIT % 2006 2015 Financial Year
Source: Accenture Analysis of CapIQ, Internet retailer, Annual Reports
Sales online (%) & EBIT (%), top 10 UK non-food retailers (excl. pure ecom)
5 10 15 20
Digitally-Committed C-Suite
Sum - Inside
Analytics Everywhere
Implement Visualise Advanced Analytics Data Management Data Sources
External Internal
Technology is enabling exciting data collection & advanced analytics
Example: Location planning & property
Catchment analysis Competitor mapping Sales forecasting Impact analysis Site assessment reports Store clustering Space optimisation ‘Car park’ report ‘Valuation Office’ reporting Property management dashboards Store performance dashboards Network optimisation Sales
Finance & HR Customer insight & marketing Buying & merchandising Store
Contact centres Warehousing & logistics Location planning & property eCommerce & multi-channel
Distributed intelligence across the retail enterprise
What to do next? Prescriptive
Business Value Analytical complexity
Predictive What will happen & when? Descriptive What & why is it happening?
Flexibility: Accenture’s ‘Analytics Insight Platform’
Boldly Innovative
Sum - Inside
Virtual Reality Blockchain Custom Manufacturing/3D Printing Artificial Intelligence Digital Traceability Autonomous Vehicles IoT & Connected Devices Robotics/Drones
Future tech impacting retail & commercial spaces
service irrespective of channel
partnerships to differentiate offer
chain by offering services
consumer / shopper & personalise the offer
to create upsell / cross- sell opportunities
shopper experience
consumer
consumer
26 Future Scorecard | Variables | Current Scorecard Score
Disruptive Technology Example:
Amazon Go is a next generation store concept that allows customers to pick up items and leave the store without waiting at a register. Customers are empowered with:
go
Enabling Disruptive Technologies:
Artificial Intelligence Digital Traceability IoT & Connected Devices Convenience Control
27
Disruptive Technology Example:
eBay and Australian retailer, Meyer, have created the world’s first virtual reality department store: a completely immersive shopping experience. Customers are empowered with:
Enabling Disruptive Technologies:
Artificial Intelligence Convenience Choice
VR / AR
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Disruptive Technology Example:
ECE Future Labs’ Digital Mall app. Customers can get information on the product ranges available in the shopping centre – anytime, anywhere. Customers are empowered with:
Enabling Disruptive Technologies:
Artificial Intelligence Convenience Choice IoT & Connected Devices Control
29
30 4 Future resilience | Westfield London - Smart Parking
Smart Parking – Westfield London
Disruptive Technology Example:
Smart Parking is a innovative idea to give Westfield shoppers quicker access to the centre and better value parking for long stay visits. Customers are empowered with:
Enabling Disruptive Technologies:
IoT & Connected Devices
Convenience Value Experience
Sum - Inside
1990s WEB & INTERNET 2000s MOBILITY 2010s LIVING SERVICES
THEY ARE TAILORED AND LIVE AROUND THE INDIVIDUAL – FLEX TO MEET EACH PERSON’S NEEDS AND PREFERENCES THEY EVOLVE: THEY CONSTANTLY LEARN MORE ABOUT OUR NEEDS, INTENTS, PREFERENCES, AND CHANGE IN REAL TIME THEY ARE VERY PROXIMATE TO US IN THE ENVIRONMENT – THINK WEARABLES AND NEARABLES 34
GROWTH OF CONNECTED
DEVICES
SENSORS NETWORK CONNECTIVITY THE CLOUD BIG DATA EVOLUTION OF UI CONSUMER EXPECTATIONS
35
THINK ENVIRONMENTS, NOT INDUSTRIES
VIDEO
A BRAVE NEW WORLD
BECOMING A LIVING BRAND
The brand keeps delivering its service with no visible partnerships The brand filters and selects partners to deliver a curated experience The brand experiences are accessible through third party platforms The brand aggregates third parties and delivers a holistic experience STANDALONE CURATOR PARTNER PLATFORM
BECOMING A LIVING BRAND
NEW INTERACTIONS With new contexts for interactions there will be new engagement
NEW CONTEXTS You don’t control the experience
and where to interact with brands NEW TOUCH-POINTS How are you going to be available anytime, anywhere? How is your tone of voice going to sound? Will you have a signature gesture? How will you be ready to engage customers in new contexts and needs? Gestures, voice interactions, AI… The days of point and click are gone
I T ’ S N O L O N G E R E N O U G H T O C R E A T E S O M E T H I N G T H A T P E O P L E L I K E Y O U M U S T B U I L D E X P E R I E N C E S T H A T P E O P L E L O V E
B U T L O V E I S C O M P L E X H O W D O Y O U D E F I N E L O V E F O R A B R A N D E X P E R I E N C E ?
THE RESEARCH REVEALED 5 DIMENSIONS FOR MEASURING CUSTOMERS' FEELINGS TOWARD A BRAND EXPERIENCE
F
FUN Holds people’s attention in an entertaining way
R
RELEVANT Provides clear and customized information
E
ENGAGING Identifies with individual needs and wants
S
SOCIAL Connects people with each other
H
HELPFUL Is efficient, easy and adapts over time
EXPERIENCE LEADERS SET THE PACE FOR OTHER BRANDS
THE FOLLOWING COMPANIES GARNER THE MOST BRAND LOVE FOR ONE OR MORE DIMENSION: FUN RELEVANT ENGAGING SOCIAL HELPFUL
Experience leaders are high-scoring top of mind brands They set the experience expectations on specific dimensions These are the brands consumers recall as their most loved They are all digital
Fun Relevant Engaging Social Helpful
WE PLOTTED FIVE TOP RETAILERS IN THE UK ACROSS THE FRESH DIMENSIONS OF OUR LOVE INDEX Helpful, Relevant and Engaging dimensions drive each brand’s experience, giving the retail industry a unique shape
THE SHAPE OF LOVE IN RETAIL UK
The performance of the retail disruptor, AMAZON, demonstrates each of our retailers have work to do if they’re to maintain their position
AMAZON IS WINNING AT LOVE IN RETAIL
Fun Relevant Engaging Social Helpful
Retailers have a lot to do if they’re to meet their CUSTOMER’S LIQUID EXPECTATIONS. SOCIAL dimension is a big area for improvement, along with FUN
BUT…YOU’LL ALWAYS BE COMPARED TO THE BEST
How do you add fun, and social while still being on trend, engaging, relevant, super helpful?
Fun Relevant Engaging Social Helpful
Slow Global Recovery Changing Customers Shifting Costs Disruptive, Fragmented Competition Accelerating Price Deflation Massive Overcapacity New, Demand-Reducing Business Models Steeper Tech. Adoption Curves
Industry challenges continue to put pressure on sales & profits