The DNA Of The Cross-Channel Shopper
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Transcript of The DNA Of The Cross-Channel Shopper
The DNA Of The CROSS-CHANNEL SHOPPER
Analysis of new consumer shopping data with real world examples of how global retailers are adapting to address these shifting shopper expectations.
#LiveWebinar November 3, 2011
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About Retail TouchPoints
Launched in 2007
Over 20,000 subscribers
To provide executives with relevant,
insightful content across a variety of
digital medium
Free subscription to our weekly newsletter: www.retailtouchpoints.com/signup
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Panelists
Andrew Gaffney Research Director Decision Tree Labs
Mike Elder Director, Retail Practice Junction Solutions
Debbie Hauss Editor-in-Chief Retail TouchPoints
Moderator
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About Decision Tree Labs
Launched in 2010
Division of G3 Communications
Using a targeted online consumer
panel, with the ability to focus on
specific demographic groups—
based on geography, income or
shopping habits.
For more info, head over to DecisionTreeLabs.com
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About The Survey
Gender Age Group
283 CONSUMERS SURVEYED
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Growing Influence of the Web
40% OF CONSUMERS said they increased their online shopping ac1vity
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Changing Channel Preferences
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Cross Channel Climbing
45% an1cipated more of their shopping will occur across mul1ple channels in the
coming year
NEARLY HALF
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Shifting Shopping Behaviors
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Changing Channel Expectations
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New Loyalty Drivers
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Channel = Choice
32% of respondents cited the ability to change an order or return an item in the
channel of choice
32% of respondents are influenced by having personalized shopping experience based on individual history and
preferences. 27% valued the ability to have visibility into real-‐9me
order status.
45% of respondents valued the ability to have
convenience of being able to “shop and receive merchandise in the sales channel of my choosing”.
41% of respondents were
cited as the top influence on customer loyalty,
followed by the ability to receive promo1onal offers in all shopping
channels.
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New Factor for Attrition
86% OF CONSUMERS
are somewhat or highly likely to move their business to another retail brand when they encounter
inconsistent pricing across channels.
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New Shopper DNA
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Mobile: The Next Frontier
10 (11%) said they had made a purchase
directly on their mobile device, compared to 8%
who said they had completed a transac1on via a social media site.
MORE THAN ONE IN
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
junc9onsolu9ons.com where technology meets inspira9on
atlanta l denver l san francisco l st. louis l toronto
CROSS-CHANNEL CHALLENGES
multi-channel retail: catalog, web, mobile, direct, mail B2B and B2C
Mike Elder, Director, Retail Practice
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
• No Longer Op9onal
• Organiza9onal Challenges
• System Challenges
• Customer-‐Centric
• Mobile Expecta9ons
• Delivering Cross-‐Channel
• The Future
• Summary
Agenda
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
• Founded in 2002
• Headquartered in Denver 6 offices in North America Partner rela1onships globally
• Deep Focus in Mul9-‐Channel Retail, Cross-‐Channel Retail Customers include Simon Pearce, Global Wine, Miles Kimball,
Century Mar1al Arts, Peet’s Coffee & Tea
• Solu9ons are built exclusively on MicrosoX Dynamics® AX
• Recognized for excellence in solu9ons and customer engagement Gold Cer1fied CfMD Cer1fied AMR Cer1fied (Dynamics AX for Retail) 2010 MicrosoV Partner of the Year – Retail 2011 MicrosoV Dynamics® Award Excellence in Evangelism
(Peet’s Coffee & Tea)
Junc9on Solu9ons Overview
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
Cross-‐Channel is No Longer Op9onal
As indicated by the study ….
Customer expects you to look like one consistent retail opera1on • Retail Store • Catalog/call center • Web store • Mobile (emerging)
How you should look to the customer:
Your channels are just shopping op9ons to the customer. They are simply different varia9ons of the same retailer.
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
Organiza9onal Challenges
How your corporate organiza1on probably looks:
Silo organiza1ons: • Separate profit centers for each channel • Separate merchandising/buying teams • Poten1ally separate IT • Conflict common
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
System Challenges
How your systems probably look:
Poten1ally separate applica1ons cobbled together for: • Order management • E-‐commerce • Point-‐of-‐Sale • Financials • and more …
Disparate system components: • Different focus • Different decision makers • Different func1onality • Best of Breed ????
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
Customer-‐Centric
Customer doesn’t care about your organiza1on or system challenges
Customer expects consistency and transparency across channels:
Product master Pricing Promo1ons Customer Data
And Ancillary Services such as: Returns Loyalty programs GiV Registry
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
Mobile Expecta9ons
Just when it couldn’t get any harder:
Mobile is elimina1ng price as a compe11ve factor
Retail success in the future will be increasingly dependent upon influencing customer behavior:
• Service • Suppor1ng informa1on • Shipping • Consistency • Performance reputa1on • Loyalty
Across all your channels !!!!
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
Delivering Cross-‐Channel
Brute Force • Load and try to maintain data manually across channels
Integrate your data and systems • Master system for record data • Varying degrees of integra1ons and methods
All-‐in-‐one solu1on with built-‐in integra1on • Missing or limited func1onality • Most common examples are e-‐commerce suites that support call center
Issues • Synch and 1ming of data • Performance • Agreement between channel organiza1ons • Differences between disparate system func1onality • Expensive
It is not easy delivering on cross channel !!!!
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
The Future
The Cloud
• Disparate systems (available now) • Use cloud-‐based services and data stores • Current example: Online credit card authoriza1on • Cross-‐channel func1onality example:
• GiV registry
• Fully Integrated Solu1on in the cloud (coming) • Applica1on designed and built to run via cloud • Integrated sharing of data and func1onality
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
Summary
Effec1ve Cross-‐Channel Interoperability Is Not Op1onal
Your customers expect it
Your compe1tors are akemp1ng it
You can do it
Excelling at cross-‐channel execu9on can be a significant differen9ator you can leverage to your advantage.
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Q&A Session Your GoToWebinar Attendee Viewer is made of 2 parts:
1. Viewer Window 2. Control Panel
Type your ques9on here
#LiveWebinar
Panelists
Andrew Gaffney Research Director Decision Tree Labs
Mike Elder Director, Retail Practice Junction Solutions
Debbie Hauss Editor-in-Chief Retail TouchPoints
Moderator
#LiveWebinar
Thanks for attending!
You can download this presentation & research White Paper here:
http://rtou.ch/shopper-dna