AIMIA Future of Digital - Future of Online Retail
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The Future of Online Retail
Tim O’NeillJoint Managing Director, Reactivewww.reactive.com
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ABOUT REACTIVE
• Independent digital agency with a focus on;– Web strategy, design & development– eCommerce– Social media
• Running for 12+ years• Melbourne, Sydney, London & Auckland
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The Global Threat
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“Australians spent $23b online in 2008, with estimated growth of 9% annually to $32b by 2012”
Forrester Research, 2009
But…
“…In 2005, Australian online shoppers reported making 86% of their total spend in Australia, but by December 2008 this had dropped to 57%...”
Australian Payments & Clearing Association, July 2009
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5
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$0.20
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Shar
e of
Vis
its to
Sho
ppin
g &
Cla
ssifi
eds
International Retail Websites
Local Retail Websites
Exchange Rate
Source: Experian Hitwise, October 2009 and www.rba.gov.au
INTERNATIONAL VS AUSTRALIAN ONLINE RETAIL
- Exchange Rate
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The Global ThreatSo, what is the…
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Social Shopping
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AUSSIES LOVE FACEBOOK
• Australians spend on average 8 hours/month on Facebook
• Australians spend more time on average per month using social media than any other country
• 8 million Aussies on Facebook
Nielsen Online, 2009
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Mobile Commerce
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• Still in it’s infancy in Australia
• Huge growth potential
• International retailers using m-commerce include; Ralph Lauren, Victoria’s Secret, Sears, Net-A-Porter and Galeries Lafayette
MOBILE COMMERCE
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• Barriers to buying on mobile devices;– Difficult to purchase with a credit-card
– Most B2C retailers don’t store credit-card details, or allow purchase ‘on account’
– Hence, a lack of compelling Australian m-commerce case studies
– But...
MOBILE COMMERCE - BARRIERS
91% of Australian online shoppers have purchased online with a credit card. 51% prefer this method.
Nielsen Australian Online Retail Monitor
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• Location-aware shopping
• Always on, always with you
• Vouchers saved on phone, used instore
• QR codes / Microsoft Tag
• Micro-payments within Applications
MOBILE COMMERCE – OTHER OPPORTUNITES
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Product Visualisation
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Retail Environments
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Personalised Experiences
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• Single view of the customer• Reserve online, pick up in store• Buy online, get customer service instore, • Call up and have someone be able to see your
online orders, etc.
MULTI-CHANNEL RETAILING
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DISCLAIMER… GET THE BASICS RIGHT FIRST!
• Product• Promotion• Conversion
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The Global [email protected]@timwoneillwww.reactive.com