The Future of Retail Webinar by Engagis
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Engagis CEO Leon Condon presents The Future of Retail - Embracing Digital for Improved Service and Profit. Webinar Overview: Your customers are changing. The way they search, discover and transact is transforming rapidly. We all know that shoppers love digital technology but for retailers the popular view is that it's expensive. So can your retail store embrace digital without breaking the budget? This free webinar will reveal the answer. Engagis CEO and digital marketing expert Leon Condon will show you why next-generation retail marketing must be more than just digital; it needs to be integrated. You’ll learn which digital solutions equip you to better serve customers, empower your staff and increase your profit, all while lowering your costs. This webinar will then showcase the options that exist right now, and reveal how top retailers are creating cutting-edge in-store marketing systems with minimal, or zero, impact on operating costs. View the Webinar slides above
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The Future of Retail Webinar by Engagis
- 1. Embracing Digital for Improved Service & Profit The Future of Retail Leon Condon, CEO, Engagis
- 2. How to Participate Today Type a question in the QUESTIONS field of your GoToWebinar Control Panel Then press SEND
- 3. Engagis is a recognised leader in customer & staff engagement solutions and digital display technology. Established in 2001 with offices in Sydney, Melbourne & Auckland.
- 4. 4,000+30+ 20,000+ 99%+ 10 14 Connected Blue Chip Customers Individual Retailers Connected Devices Under Management Uptime Industries Years in Business
- 5. The Future of Retail 1. The Rules Have Changed 2. Adapting to Change 3. The Future of Retail 4. Next Steps Today’s Webinar:
- 6. PART 1 The Rules Have Changed
- 7. The Rules Have Changed
- 9. • Smartphone Penetration rocketed from 19% in 2007 to 84% in 2014. • 94% of shoppers research products and services on their smartphone. • 47% now actively engage in Showrooming (viewing products in-store then buying them elsewhere). • As of 2015, mobile traffic online has now taken over desktop traffic. MOBILE TRENDS Source: Business Insider Australia (2014), Google 2015, Nielsen 2014, eMarketer 2014, PWC 2012, NRF Study (1), Business Insider Australia (2014)(2), Nielsen (2014)(3)
- 10. • Online sales topped $15 BILLION in Australia last year and $1 TRILLION worldwide. • Asia Pacific is the #1 market for eCommerce Sales. • Online media influences more than 50% of total retail sales. • Consumers use an average of 10.4 research sources prior to purchase. ONLINE TRENDS Source: Business Insider Australia (2014), Google 2015, Nielsen 2014, eMarketer 2014, PWC 2012, NRF Study (1), Business Insider Australia (2014)(2), Nielsen (2014)(3)
- 11. • 51% of shoppers now use or want to use in-store kiosks for self-service. • 60% of smartphone owners said they would use their phone to pay in store if it meant they didn’t have to line up. • 51% of shoppers are willing to use mobile shopping tools, but less than 5% of retailers offer them. RETAIL TRENDS Source: Business Insider Australia (2014), Google 2015, Nielsen 2014, eMarketer 2014, PWC 2012, NRF Study (1), Business Insider Australia (2014)(2), Nielsen (2014)(3)
- 12. MOBILE TRENDS ONLINE TRENDS RETAIL TRENDS But while digital is changing the purchase habits of consumers, over half of Australia’s businesses have not responded.
- 13. MOBILE TRENDS ONLINE TRENDS RETAIL TRENDS But while digital is changing the purchase habits of consumers, over half of Australia’s businesses have not responded. 35% of today’s attendees DO NOT HAVE a mobile optimised site. !
- 16. Source: Business Insider Australia (2014), Google 2015, Nielsen 2014, eMarketer 2014, PWC 2012 73% of shoppers still prefer to physically interact with products in store before purchasing. Only 6.5% of total Australian retail spend is currently online… That leaves over 93% of transactions still happening in store.
- 17. 80%of companies believe they deliver ‘superior experience’. Slide courtesy of Mash Up.
- 18. 80%of companies believe they deliver ‘superior experience’. 8%of customers agree. Slide courtesy of Mash Up.
- 19. 80%of companies believe they deliver ‘superior experience’. 8%of customers agree. Slide courtesy of Mash Up. “Yet only 26% of companies have a well developed strategy for improving the customer experience.”
- 20. Adapting to Change In fact retailers are investing billions to make their brands eCommerce enabled. But many are failing to integrate this online activity into their bricks and mortar retail stores.
- 22. PART 2 Adapting to Change
- 23. The New Retail 86% of customers will happily pay for a better customer experience... Source: McKinsey (2013; Consumers: Life Online)
- 25. To create a customer experience that is… Faster Easier Cheaper More Personal Adapting to change
- 28. PART 3 The Future of Retail
- 29. The Rules Have Changed
- 30. The CUSTOMER Pathway to Purchase One Thing Has Stayed The Same The RETAILER Pathway to Purchase
- 31. Omni-Channeling Is The Future
- 32. The Retail “Store” of The Future In the Home At the Store On the Go
- 33. The Future of Retail Creating Connections Along the Pathway to Purchase • Digital Signage • Electronic Shelf Labels • Digital Ticketing • Location Based Advertising • Gamification • Interactive Gaming • Video Walls • Touch Screens • Augmented Reality • Mobile Apps • Solution Finders • Digital Catalogues • Staff Tablets • Digital Wayfinders • Secure Merchandising • Remote Activation • Online Ordering • Mobile Ordering • Self-Order Kiosks • Mobile POS Systems • Mobile Loyalty & Rewards • Staff Communication Portals • Staff Training Systems • Audience Tracking • Shopper Insights Portals
- 37. Attract Digital Signage 4% - 50% Increase in Sales 5% - 15% Increase in Enquiries 40%+ Increase in Message Recall 80% Improved Environment & Experience 35% Reduction in Perceived Wait Times Source: Digital Signage Today 2014, Lyle Bunn 2014
- 38. Attract Digital Signage - Behavioural Influenced Content
- 39. Attract Digital Signage - Behavioural Influenced Content
- 40. Attract Digital Signage - Behavioural Influenced Content
- 52. Transact Self-Service Kiosks – Through Window
- 55. Reward Mobile Loyalty & Rewards
- 59. Insights Build A Customer Profile
- 61. Personalising the Offer • 700% increase in conversion ration versus traditional campaigns • 72%+ of rewards recipients spend more than the amount of the reward. • 88% of businesses with loyalty programs are more profitable than their competitors without. Source: Deloitte Loyalty Plus Research Study 2013, Capgemini Consulting Digital Shopper Study 2012, DDB Mcdonalds Netherlands.
- 64. Strategy Define objectives Map your customer’s pathway to purchase Identify touch points and explore relevant technology options Review ROI Provide a detailed technology road map addressing business goals Solution Design and Prototyping Prepare a fully interactive demonstration of the recommended solution Rapid Pilot Testing Build > Measure > Learn > Improve Next Steps
- 66. Case Studies
- 67. Thanks
- 68. Leon Condon CEO Engagis Pty Ltd The Engagement Lab Level 12, 213 Miller Street North Sydney NSW 2060 T +61 2 8039 0651 M 0414 266 366 E leon.condon@engagis.com W engagis.com Customer Support 1300 203 810
Editor's Notes
- Customers no longer shop exclusively in bricks and mortar stores. The PATHWAY TO PURCHASE is no longer linear. Whether at home, on the go or in store, shoppers are now using multiple channels to search, compare and transact.
- Last month, Google announced a huge update, that as of April 21, there will be increased weight given to the mobile-friendliness of sites. This will have a major effect on retailers without mobile optimised and responsive websites. If you get nothing else out of today, at least check that your site has been optimised.
- Last month, Google announced a huge update, that as of April 21, there will be increased weight given to the mobile-friendliness of sites. This will have a major effect on retailers without mobile optimised and responsive websites. If you get nothing else out of today, at least check that your site has been optimised.
- Customers no longer shop exclusively in bricks and mortar stores. The PATHWAY TO PURCHASE is no longer linear. Whether at home, on the go or in store, shoppers are now using multiple channels to search, compare and transact.