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ACT* Retail Session #1 - The Future of Retail

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The Future of Retail presented by Miel Van Opstal at ACT* Brussels, on 24th September 2015. This was the first in our series of Retail Sessions.

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ACT* Retail Session #1 - The Future of Retail

  1. 1. THE NEW RETAIL CUSTOMER & 
 THE FUTURE OF DIGITAL COMMERCE Miel van Opstal 24.09.2015
  2. 2. WE LIVE IN DIGITAL TIMES
  3. 3. TECHNOLOGY IS EVOLVING QUICKLY
  4. 4. HUMANS ARE THE WEAKEST LINK
  5. 5. POWER OF APPS THE IM/CHAT REVOLUTION
  6. 6. FACEBOOK HAS A GOOD BUSINESS MODEL
  7. 7. SOCIAL PLATFORMS THE SIZE OF COUNTRIES 1. Facebook 2. China 3. Tencent (Sina Weibo) 4. India 5. WhatsApp 6. LinkedIn 7. United States 8. Instagram 9. Twitter 10.Snapchat Disclaimer - only 2, 4 and 7 are existing countries. source: @lavaconsult
  8. 8. WE PAY FOR SECONDS OF ATTENTION
  9. 9. MULTIPLE POCs CONTEXTUAL MICRO MOMENTS
  10. 10. IT’S A CONDITION IT’S FOMO IT’S OPPORTUNITY 90% of text messages are read within 3 minutes of being delivered
  11. 11. E-MAIL IS THE MOBILE CONNECTION 65% of emails were opened on a smartphone or tablet source: Movable Ink, US Consumer Device Preference Report, Q4 2013
  12. 12. MOBILE SEARCH INDICATES URGENCY & DEMAND source: Google Belgian Research Following a research on a smartphone, where is a retail product purchased ?
  13. 13. SHIFT IN CONSUMER BEHAVIOR source: Google Belgian Research Problem ? Option ? Evaluate Choose/Buy Experience Complete Recommend ATTRACT ENGAGE NURTURE CONVERT DELIVER UPSELL REFERRAL
  14. 14. SHIFT IN CONSUMER BEHAVIOR source: Google Belgian Research Problem ? Option ? Evaluate Choose/Buy Experience Complete Recommend ATTRACT ENGAGE NURTURE CONVERT DELIVER UPSELL REFERRAL
  15. 15. DISRUPTION AS THE ULTIMATE SERVICE www.springwise.com/top-10-business-ideas-travel-tourism-12-months
  16. 16. PEACE OF MIND AS A SERVICE www.springwise.com/top-10-business-ideas-travel-tourism-12-months
  17. 17. HYPER PERSONAL SECURITY TECHNOLOGIES www.businessinsider.in/MasterCard-is-experimenting-with-selfie-pay/articleshow/48541831.cms
  18. 18. THE BETS OF THE BANKING INDUSTRY Source : PWC Banking 2020 Survey DATA DATA PERSONALIZATION
  19. 19. DIVERSIFICATON IS NOT ALWAYS THE ANSWER www.thefinancialbrand.com/37391/bank-personalization-product-development ONE OFFER FOR ALL A FEW OFFERS FOR ALL INDIVIDUAL OFFERS SERVICES PLATFORMS PRODUCTS
  20. 20. PERSONALIZATION IS THE FIRST STEP TO PURPOSE AND TRUST www.hubspot.com/products/how-personalization-works
  21. 21. DATA SOURCES FOR PERSONALIZATION www.hubspot.com/products/how-personalization-works • Demographic information • Social data • Contextual data (location, device, …) • Product related information • folio • transactional data • History / behavior • online: content, top actions, CTAs followed, simulations, … • offline: store – POS terminal, … • Preferences / Topics of interest • … Smart Lists
 &
 Lifestyle 
 
 Customer profiling
  22. 22. RETAIL BEACONS HAVE HUGE POTENTIAL, BUT IT CAN ONLY BE MET WHEN CHAINS MOVE BEYOND SEEING BEACONS SOLELY AS TINY AD BROADCASTERS
  23. 23. PURPOSE SELLING WITHOUT SELLING TECHNOLOGY AS A FACILITATOR EXTREME CUSTOMER CENTRICITY
  24. 24. REMEMBER THEM FOR RE-TARGETING LATER. PURPOSE
  25. 25. IT'S ALL ABOUT LAYERING. IT'S MORE THAN USING THE BEACON OR THE MOBILE PHONE OR POS OR A MOBILE APP. INTEGRATION IS THE KEYWORD. USING THE INTERACTION WITH A BEACON ON TOP OF A MOBILE APP, WHICH LEVERAGES GEOLOCATION AND THE PROXIMITY OF A WI-FI CONNECTION (AND T H AT B E AC O N ) , S H O U L D B E COMBINED WITH ACCESSING EXISTING CRM PROFILES OF THAT SHOPPER. THEN WE NEED A CONNECTION BETWEEN THAT SHOPPER PROFILE ONLINE AND MATCH IT WITH THE ACTIVITY IN-STORE. THE POS-LINK.
  26. 26. VENTURE INVESTING IN ARTIFICIAL INTELLIGENCE Source : Venture Scanner
  27. 27. TECHNOLOGY HAS BECOME A FACILITATOR WITH ZERO FAIL-TOLERANCE. SPEED, CONNECTIVITY AND C O N V E N I E N C E A R E EXPECTATIONS NEEDED TO MAINTAIN THE DIGITAL/ REAL SOCIAL NETWORK. OFFLINE CONNECTIONS REMAIN A FUNDAMENTAL POINT OF INTEREST
  28. 28. BEFORE YOU CAN ADD PURPOSE YOU MUST FIND OUT HOW THE CUSTOMER BEHAVES IF YOUR POS SYSTEM ISN’T PROVIDING IN-DEPTH
 ANALYTICS ON YOUR CUSTOMERS, INVENTORY AND CONVERSIONS, IT’S TIME TO UPGRADE ASAP. MERCHANTS SHOULD BE ABLE TO KNOW WHO THEY ARE SERVING AND PROVIDING PRODUCTS FOR, HOW OFTEN THEY SHOP AND HAVE THE ABILITY TO OFFER THEM PERKS THAT ARE RELEVANT TO THEM. MELISSA GONZALEZ, CHIEF POP-UP ARCHITECT, THE LIONESQUE GROUP
  29. 29. 2020 MARKETING DEPARTMENT SMALLER MARKETING DEPARTMENT LT STRATEGY & VISION PROJECT LEADERS DATA EXPERT COMMUNITY MGM CREATIVITY CO-CREATION EXPERT TREND
 EXPERT TECHNOLOGY MOBILE EXPERT COPYWRITING
  30. 30. 2020 MARKETING DEPARTMENT FLEXIBILITY MEANS HAVING SKILLS FOR THE ENTIRE TEAM. FLEXIBILITY MEANS BEING ABLE TO FIND NEW TALENT WHEN NEEDED. THIS IS ALMOST IMPOSSIBLE WITH A FIXED TEAM. ONLY THE REALLY FAMOUS BRANDS WILL BE ABLE TO RECRUIT TALENTS; OTHER COMPANIES WILL BE FORCED TO CALL UPON OUTSIDE PARTNERS.
  31. 31. FRICTION REDUCTION FOR THE PROCESS OPTIMALIZATION THE RETAILERS WHO CAN COMPETE ARE THOSE WHICH CAN CREATE VALUE BY REDUCING THE STRESS OF THE SHOPPING MISSION. STEVE MADER, VICE PRESIDENT – DIGITAL & RETAIL INSIGHTS AT KANTAR RETAIL
  32. 32. IS THERE A LIMIT TO PROCESS AUTOMATION? www.bbc.com/news/technology-34066941
  33. 33. TRADITIONAL MEDIA IS STILL A THING www.bbc.com/news/technology-34066941 Called Arriving Now, the publication features “pro tips, hotspots, and exclusive details about upcoming promotions.” It will likely be most useful to people who are only in New York City for Fashion Week and are trying to find new things to do during their stay.
  34. 34. INTELLIGENT BIG DATA IS WORTH THE INVESTMENT
  35. 35. TAKE-AWAY FOR TODAY • Collecting and processing real-time analytics • Owning the buffer zone between brands and customers • Responsive customer - & conversion journeys • Intelligent Data Management, Smart Data Collection • Inbound marketing strategies • From omni-channel to right-channel
 • B2B, B2C, C2B & O2O
  36. 36. TAKE-AWAY FOR TOMORROW • Virtual Agents, Video Concierge Services • Interactive (POS) Displays, 
 Smart Display Streaming Networks • Language - & Voice technologies • Deep Learning & Artificial Intelligence
  37. 37. TAKE-AWAY FOR TOMORROW • Virtual Agents, Video Concierge Services • Interactive (POS) Displays, 
 Smart Display Streaming Networks • Language - & Voice technologies • Deep Learning & Artificial Intelligence
  38. 38. Thank you.

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