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Mobility in Retail - Market Research by RapidValue Solutions

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A presentation by RapidValue Solutions which explains the retail mobile market with mobile statistics, case studies. It also includes different types of consumer and enterprise retail apps available in the market

Retail Industry - Challenges

Are your customers “Show rooming?”
Too many players in the market and less differentiation to incentivize customers to walk into YOUR stores?
Are your Sales force not equipped with product knowledge?
Is there lack of customer buying behavior knowledge to help increase Basket size?
Mobile can be used to get customers to the store and can help keep them there

Find out more from this presentation

Publicada em: Tecnologia, Negócios
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Mobility in Retail - Market Research by RapidValue Solutions

  1. 1. © RapidValue Solutions Mobility in Retail
  2. 2. Retail Industry : Changing Landscape – Why Go Mobile? • Increased penetration of mobile – Increased need to focus on the mobile market. • M-commerce growth is outpacing traditional E-commerce growth by 200%. © RapidValue Solutions 2
  3. 3. Retail Industry - Challenges • Are your customers “Showrooming?” • Too many players in the market and less differentiation to incentivize customers to walk into YOUR stores? • Are your Sales force not equipped with product knowledge? • Is there lack of customer buying behavior knowledge to help increase Basket size? • Mobile can be used to get customers to the store and can help keep them there © RapidValue Solutions 3
  4. 4. Retail Industry – Key Opportunities for Mobile © RapidValue Solutions “According to a 2012 Deloitte study, the conversion rate in the store for shoppers who use a retailer’s dedicated app is 21% higher than those who do not • $12.8 billion was spent via mobile payments in the US in 2012 • $90 billion will be spent via mobile payments in the US in 2017 • In 2016 an estimated $689 billion will be influenced by mobile retail 4
  5. 5. Retail Industry – Key Opportunities for Mobile © RapidValue Solutions Retail Restaurants & Café Service Financial Other Hospitality Gyms Churches Top commercial venues where people use their mobile device 5
  6. 6. Mobility – Solution Framework © RapidValue Solutions Consumer Solutions Enterprise Solutions 84%of smartphone shoppers use their devices to help shop while in a store 1in3use their smartphone to find information instead of asking store employees 5.6hrscan save by using apps for small business 1in10ecommerce dollars is spent using a smartphone or tablet 43%of current mobile shoppers who have downloaded a retail app 50%of businesses are making line-of-business apps accessible from mobile devices 6
  7. 7. M-commerce Apps © RapidValue Solutions 2012 2013 2014 2015 2016 2017 Forrester: M-Commerce to Reach $45 Billion Factors that drive M-commerce growth: • Increased Mobile security – Greater comfort in inputting financial data • Increased Smartphone usage • Fierce competition from “online only” retailers 7
  8. 8. M-commerce Apps © RapidValue Solutions 8
  9. 9. M-commerce Apps © RapidValue Solutions 9
  10. 10. M-commerce : Data Speaks © RapidValue Solutions “Mobile is the best opportunity says Walmart. Over the past two years, Walmart notices 1/3rd of Walmart.com traffic from mobile visitors “Mobile continues to be a strength and source of growth, with mobile enabled commerce volume jumping 75%. 20% of the company’s sales are via mobile. 3.2mn new mobile users across its entire suite of apps 10
  11. 11. © RapidValue Solutions Retail Consumer Apps
  12. 12. Consumer Apps © RapidValue Solutions Location Based Marketing via discounts & coupons Store locators In Store Catalogues In store Navigation Apps Self Checkout Apps Loyalty Management Apps Price List Apps 12
  13. 13. Blueprint : Consumer App Lifecycle © RapidValue Solutions 13
  14. 14. Why In-Store Catalogue App? © RapidValue Solutions With the growth in the number of smartphone users, printing catalogues becomes obsolete. • In Store catalogue Apps engage with customers more effectively – allow them to magnify, add to favorites, add to cart etc. • These apps can influence the basket size per customer due to personalization in mobile. 14
  15. 15. Case Study : Brighton Retail © RapidValue Solutions RapidValue worked along with Brighton Retail to introduce the In store Catalogue App Outcome: • Increased Customer satisfaction • Better informed sales assistants • Improved analysis of customer behavior through integration with backend CMS • Rich media content • Increased training effectiveness across employees • Reduced cost on wastage of paper, shipping RapidValue added Innovative features such as “Moodboards” which can pin items based on the mood of the shopper and can be shared with friends 15
  16. 16. In-Store Catalogue App Home screen © RapidValue Solutions 16
  17. 17. Why In-Store Navigation Apps? © RapidValue Solutions • According to a survey, 91% said that they were likely to leave a store if they could not find a specific product that they wanted. • “Self-help” is the new norm 17
  18. 18. Case Study : Best Buy, Home Depot, Walgreens © RapidValue Solutions • Best Buy integrates with the shopping list feature on the mobile app – Each item on the list will be navigated to the customer while in store • Home Depot has features where shoppers can check inventory of the item followed by navigation to the correct aisle • Walgreens, a large Grocery Retailer digitizes store data, accesses inventory, product locations, floor plans which is accessed from customers mobile phone. Futuristic view – The integration with the in store apps such as the Mobile shopping, Self Checkout, Shopping lists etc. 18
  19. 19. Why Location Based Marketing Apps? © RapidValue Solutions  Personalized marketing discounts, promotions, coupons  Publicize your business brand via check-in’s (usage of social media)  Monitor your customer comments with timely responses  Incentivizes customers to enter stores • To receive information or alerts that I have requested • To receive relevant offers or discount coupons • To resolve customer service issues • There are no good reasons • To check-in or post on social networking sites When asked why they would ever share their location or other personal information with a company using their mobile device, respondents indicated the following: 19
  20. 20. Case Study : Meat Pack Retail © RapidValue Solutions • Implemented by a shoe store, Meat Pack Retail in Guatemala • Sold limited edition shoes of brands like Adidas, PUMA, Nike etc. • Set up geo fences around each official store of one of the brands they sold using GPS technology • Customer enters the competitor store • Receives a discount coupon starting at 99% at their store • Decrease by 1 % every second More than 600 customers were hijacked from the competition 20
  21. 21. Why Price List Apps? © RapidValue Solutions  Consumer makes informed decisions  Reduces buyer remorse  Provide consumer with comparisons on pricing online / stores  Increases customer satisfaction due to better savings  Provides customer reviews on the product 21
  22. 22. Case Study : Amazon Price Check © RapidValue Solutions  Amazon Launched Amazon Price check mobile app to capitalize on mobile sales  Customers shopping at any other retail store can: • Speak the name of the product or • Enter the name or • Take a photo  Check availability as well the price at Amazon for comparison with the other retailer  To further incentivize customers to make the purchase, Amazon price check app offers a 5% discount on using the app to make a purchase 22
  23. 23. Why Self checkout Apps? © RapidValue Solutions • With an increasing trend of smartphone usage, “Linebusting” increasingly popular • Easily integrated with shopping lists, scanning and payment gateways 23
  24. 24. Case Study : Magic Beans © RapidValue Solutions • Children’s Goods Retailer Magic Beans launched an iPhone application that enables “Linebusting” • Self Checkout Apps in store implemented • Scan the chosen products with customer’s smartphone camera • Find more information on scanned product / Add to cart options Outcome: • Increased customer satisfaction • Reduces hardware costs on retailers buying scanning devices • Reduces dependence on Sales personnel 24
  25. 25. Why Loyalty Apps? © RapidValue Solutions • With increased competition in the Retail industry, it is important to stay one step ahead of your competitors • To personalize the offers sent to customers based on their Account information / buying behavior “Acquiring new customers can be up to five times more expensive than retaining existing customers 25
  26. 26. Case Study : Kroger Retail © RapidValue Solutions  Kroger’s In Store App has Loyalty features which assists in reviewing reward points, status and upcoming rewards  Loyalty Cards can be: • Registered once the App is downloaded • Added in the App at later points  Can be linked to check fuel points at participating tie ups and view the rewards history  Customer feedback forms which are directly sent to Kroger  Check – in loyalty rewards – Customer earn points for every check in via social media  Link to mobile wallets 26
  27. 27. Why Store Locator Apps? © RapidValue Solutions  Provide convenience of search to the customers  Store locator apps can provide information on product availabilities at a particular store  Store locators can indicate the closest store based on a customers current location  Indicate store working hours 27
  28. 28. Case Study : Target Corporation © RapidValue Solutions  Target’s Store locator feature can:  Define the present location via GPS  Identify nearby stores to your default location  Set your default store based on proximity Outcome: • Increased footfalls at store • Assists customers in checking availability of an item at a particular store 28
  29. 29. © RapidValue Solutions Retail Enterprise Apps
  30. 30. Enterprise Apps © RapidValue Solutions HRMS Apps In Store Audit Apps Dashboard Apps Mobile POS Apps Sales Floor Assistant Apps Inventory Apps 30
  31. 31. Why Sales Floor Assistant Apps? © RapidValue Solutions  Engage meaningfully with the customers  Increased proliferation in the market – Increased need to have loyal customers  Enable your sales force to have information on their fingertips 31
  32. 32. Brighton-Retail Case Study © RapidValue Solutions 32
  33. 33. Case Study: Brighton Retail RapidValue developed the Sales Floor Assistant App for Brighton Retail Outcome: • Measure of Customer satisfaction – Customers who were exposed to the experience of the Sales Floor Assistant App were seen to have higher customer satisfaction levels versus the other customers • High Training costs reduced for Brighton through the implementation • Customer analytics information provided better insight to management • Reduced cost on wastage of paper, shipping – Retention of paper based catalogues by customer are low © RapidValue Solutions 33
  34. 34. Why Mobile POS?  Effective “Linebusting” mechanism  Improved customer satisfaction via streamlined checkout processes  Improved customer loyalty thereby adding to topline © RapidValue Solutions 34
  35. 35. Case Study: Nordstrom Outcome: • Both the average selling price as well as the number of items sold increased in the year of implementation • Measure of satisfied customers – There was an increase in repeat customers post implementation of this app • Nordstrom – a Fashion and beauty based Retailer introduced Mobile POS devices – a modified iPod touch with a merchandise scanner and a credit / debit card slider • Allows employees to check out customers anywhere in the store • Allows employees to check the company’s entire inventory (alternative size / color) across stores © RapidValue Solutions 35
  36. 36. Why Inventory Apps?  Enable employees with access to inventory information across stores to avoid loss of sale  Real time and immediate information on inventory levels  Improved customer experience  Customer loyalty increases on account of confidence earned by sales force © RapidValue Solutions 36
  37. 37. Case Study: Moosejaw Retail • Low turnaround time - Quick conversion of enquiries into sales • Customer Experience -“Wow” factor among customers • Engaged sales force with access to the whole enterprise in their pocket Outdoor gear Retailer Moosejaw have Inventory tracking Apps that allow: • Checking enterprise inventory on the spot via Mobile Apps integrated with Enterprise systems • Place an order from the warehouse • Have the merchandise shipped to the customer at no additional cost in no time at all Outcome: © RapidValue Solutions 37
  38. 38. Why In Store Audits?  Effective management of Audit requirements  Mobile based Audit assists in reduction of manual efforts of transfer from paper to system  Real time access of information by Management level employees  Customized solutions based on Audit requirements © RapidValue Solutions 38
  39. 39. Case Study: Heinz • Enable management to pull detailed or summary reports without any need to collate data • Considerable lag in time decreased • Heinz implemented Retail Audits Mobile Apps with smartphones • Transition from the traditional paper based audits • The audits covered distribution, placement and display of their products • Moving from paper enables lesser collation, lesser errors, faster report access to management Outcome: © RapidValue Solutions 39
  40. 40. RapidValue Application : Store Audits © RapidValue Solutions 40
  41. 41. Graphical representation of the stores inspected © RapidValue Solutions 41
  42. 42. Inspection application allows the inspector to rank the store © RapidValue Solutions 42
  43. 43. Why Dashboard Apps? • Tailor made content for management level / CXO level employees • Dashboards to reveal critical information on store performance, store revenue, what if analysis, overall store audit results etc. • Various department level information can be displayed to draw analysis and devise corrective actions © RapidValue Solutions 43
  44. 44. Store by Store Sales Analysis © RapidValue Solutions 44
  45. 45. Month on Month Sales Analysis © RapidValue Solutions 45
  46. 46. Individual Store Level Sales Analysis © RapidValue Solutions 46
  47. 47. Why HRMS Apps?  Enable employees with access to their salary information, personal information etc.  Improve the employee employer relationship by empowering employees with information  Increased employee satisfaction levels  Recruitment Apps to engage with right candidates and hire the right people © RapidValue Solutions 47
  48. 48. HRMS Recruitment App Screenshots © RapidValue Solutions 48
  49. 49. Augmented Reality : Trend Watch “Mobile Augmented reality to reach 200 Million unique users by 2018” – Juniper Research “By 2017, over 2.5 billion mobile Augmented Reality apps will be downloaded to smartphones and tablets per year” – Juniper Research “Mobile Augmented Reality apps will generate $5.2 billion in 2017” – Juniper Research © RapidValue Solutions 49
  50. 50. Why Augmented Reality Apps?  Introduction of Augmented Reality Concept stores  Virtual fitting rooms  To view products within boxes  Discover stores in the vicinity  Access detailed product information on an object of interest  Provide direction to a user on where to go and what to do © RapidValue Solutions 50
  51. 51. Augmented Reality Today Augmented Reality Concept Stores Augmented Reality Fitting Rooms Augmented Reality Catalogues Augmented Reality Coupons Augmented Reality Shopping Assistant Augmented Reality Product Information © RapidValue Solutions 51
  52. 52. About RapidValue RapidValue is a leading provider of end-to-end mobility solutions to enterprises worldwide. Armed with a team of 200+ experts in mobility consulting and application development, along with experience delivering over 350 mobility projects, we offer a range of mobility services across industry verticals. RapidValue delivers its services to the world’s top brands and Fortune 1000 companies, and has offices in the United States and India. www.rapidvaluesolutions.com www.rapidvaluesolutions.com/blog +1.925.980.8033 KiranE@rapidvaluesolutions.com This document contains information that is confidential and proprietary to RapidValue Solutions Inc. No part of it may be used, circulated, quoted, or reproduced for distribution outside RapidValue. If you are not the intended recipient of this report, you are hereby notified that the use, circulation, quoting, or reproducing of this report is strictly prohibited and may be unlawful. Disclaimer: © RapidValue Solutions 52