learning from new 'retail preneurs' wrc 2012 dharmash mistry
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10 retail trends from startup land Presented at the World retail congress 2012TRANSCRIPT
Learning from the new “retail-preneurs”
World Retail Congress2.00-3.15pm Session 4 19th September 2012
Dharmash Mistry@dharmash
What small companies can teach the big guys?
Agenda
Etail/Retail trends from startup land
Entrepreneur panel session
Q&A: Get ready with your question!
1. Blurring boundaries between media and retail………
Inspiration
Navigation
Transaction
2. Social commerce: your extended salesforce?
“Social curation” Social Gifting
3. “Big Data” : Confusion or Competitive advantage?
Requires clarity…….clear objective in a specific area New capabilities and talent…… phd engineers and data analysts
Joined up systems and data integration (structured and unstructured)
4. Multi-channel: consumer experience? Consistency vs uniqueness by channel, category etc
Bloomingdales’s virtual fitting
Burberry 44k sqft100 screensRFID in clothes“magic mirrors”
Net-a-porter mobile window pop up shop
5. Personalisation vs Homogeneity
Fujifilm 3D printing kiosk for personalised gifts
6. Internet of things: Smart stores that read your mind?
7. Experimental business models
Shoedazzle: subscription commerce
Trunk Club: risk free trial, personal shopping for men
Rent the Runway: rent vs own“price per wear”
8. Innovation in payments.....
Reinvention of POS and cash registers
Payment on delivery: invoice or credit
Brings cash online and drives footfall to store
ACH payment: pay with your online bankVery low interchange
9.Growth of Marketplaces and value chain disruption
C2C products and services
B2C curated marketplaces
Affiliate
Manufacturer direct
Mono Brand stores
Broad often unique range; customer service focus; working capital efficient; leveraging scale; network effects ………winner takes all!
Classified marketplace
Brokerage
10. Lean startup approach: test, learn, iterate
Principles based on lean manufacturingRealtime demand led innovation
Summary: Etail/Retail trends from startup land
1. Blurring boundaries between media and retail………2. Social commerce: your extended salesforce? 3. “Big Data” : Confusion or Competitive advantage?4. Multi-channel: consumer experience? 5. Personalisation vs Homogeneity 6. Internet of things: Smart stores that read your mind?7. Experimental business models8. Innovation in payments.....9. Growth of Marketplaces and value chain disruption10. Lean startup approach: test, learn, iterate
Illustrious Panel
Oskar Hartmann (CEO KupiVip)
William Cooper (CEO Achica)
Geoff Van Sonsbeeck (CEO IsabellaOliver)
Chris Burch (CEO C Wonder)