Post on 18-Oct-2020
The Store of the Future
Paul Giudice, VP of Stores, PredictSpring
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Agenda• The New Retail Reality
• In-Store Retail’s New Look
• What We’re Seeing Today
• Case Study: M. Gemi
• Conclusion
We Live In An Experience Economy
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Consumer Expectations Have Shifted.
Retailers Who Haven’t Caught Up…
Retailers Handcuffed to Legacy POS Systems
Consumers Waiting in Long Lines
Oversized & Overstocked Stores
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How Winners Are Behaving
Source: Smart Ingishts 2018, mPOS installed systems will be greater than the installed base of POS terminals in the world.
Unified Customer Data Across Channels (360-View)
Right-sized Store Footprint
Introduction of New Customer Experience Models
(BOPIS, BORIS, BODFS)
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S T O R E A P P S
Clienteling
Endless Aisle
mPOS
Kiosk
Fitting Room
• Save the Sale
• Gain the Sale
• Increase Ticket Size
• Create New Sales Channel
• Reduced TCO
S T O R E A P P S
Clienteling
Endless Aisle
mPOS
Kiosk
Fitting Room
• Save the Sale
• Gain the Sale
• Increase Ticket Size
• Create New Sales Channel
• Reduced TCO
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Use Cases Average TicketSales Saved Per Week
Additional Transactions
Transaction Growth
Monthly Total Annual Total
Save the Sale(Line Busting)
$75 $75 x 4 = $300 0 0 $300 $3,600
Gain the Sale(Endless Aisle)
$75 0 $75 x 4 = $300 0 $300 $3,600
Increase Ticket(Fitting Room)
$75 (+ $25 x 3) 0 0 $75 (+ $25 x 3) $300 $3,600
New Channel(Kiosk)
$75 0 $75 x 4 = $300 0 $300 $3,600
Total $14,400 Per Store (Conservative)
Store Math
4 x ROI
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What the Store Associate Needs
Values 360-View of the Customer to Better Serve & Sell/Value-Based Selling
What the Consumer Wants
Values Convenience, Access to Full-Product Inventory, Value-Based Marketing
In-Store Retail Has A New Look
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Experiential Commerce
On-Demand Product
Convergence of digital and physical
Personalized brand experience
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Augmented Reality
Artificial Intelligence
Checkout-free
Smart Shelves
M.Gemi: A True Omni-Channel & Relationship Focused Customer Experience
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M.Gemi
DTC Atelier Making Luxury Footwear Affordable
Founded: 2014
$50 Million Revenue (2017 Estimate)
Store Associate App
Number of Stores: 3
Major Features: Endless Aisle, Online Inventory, Clienteling, Ship-to-Home, Instagram Shop-the-Look, Barcode Scanner, Verifone Integration
• 360-Degree View of the Customer• In-Store Fit Team & Stylists • Endless Aisle & No Counter
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Drive Repeat Purchase & Customer Satisfaction
Clienteling:Create a More Personal Shopping Experience
• Look-Up Customer Profile
• Look-Up Customer Wish- Lists and Purchase History
• Curate Product Recommendations
• Look-Up Loyalty Status
• Inform Customer of In-store Promotions and Loyalty Perks
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Endless Aisle
• Search Item Availability with Barcode, ID or Product Name (Store & Online Inventory)
• Real-Time Look-Up of Nearby Store Inventory
• Order In-Store and Ship to Home (On-Behalf of Customer)
• Access Customer Loyalty Status & Perks
• Easily Look-Up Items Saved in Customer Cart and View Customer Closet (Purchase History)
• Seamlessly Check Out with Store Associate
Easily Browse & Shop Full Catalog(Store, Online & Nearby Stores)
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Takeaways
• Customer behavior is rapidly changing- people care about meaningful, emotional experiences…not just buying stuff, but enjoying experiences
• Delivering meaningful experiences at every touch-point is essential since there are no channels (in the customer’s world)
• The long-term adoption of technology in the store of the future isn’t necessarily about how clever the technology is; it’s how usable it is
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T H A N K Y O U
Paul GiudiceVP of Stores
paul@predictspring.comThe Fastest Mobile Commerce Platform