measure right or get left behind - retailcouncil.org
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Measure rightor get left behind
Chris ChanRetail Head of Industry
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Proprietary + Confidential
That’s me.Two years ago.
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Proprietary + Confidential
Shoppertrak 2015, Mastercard Spend Pulse 2015., Deloitte. The new digital divide, 2016., Ipsos and Google Consumer Surveys 2017
18B
11B
2013 2017
Foot Traffic
$4.5T$5.0T
2013 2017
Store Sales
36%
2013 2017
Digital Influence
75%
Traffic is down, but sales are up. How?
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Proprietary + Confidential
Discovery Research Visit Purchase
worth 2X more
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2Xincrease in
‘where to buy’
3Xincrease in‘open now’
50%increase inbuy online
pickup instore
“I want what I want, when I want it”
Google data 2015 - 2017BOPIS: Adobe Cyber 5, 2018
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Proprietary + Confidential
Retailer measurement doesn’t match customer behaviour
65% search before going to store
Customer Behaviour
10%of sales are driven by digital[aka e-comm]
Retailer Measurement
90%of sales have ZERO digital influence???
Source: Google/Ipsos, “Holiday Study”, November 2018 – January 2019, Online survey, Canada, n=3,107 online Canadians 18+ who shopped in the past two days. [Occasional: In-store Shopping Occasions (n=1,831)
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Proprietary + Confidential
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Proprietary + Confidential
Measuring wrong can lead to missed revenue
Investment Revenue ROI
Digital media channel $5,000 $15,000 e-comm 3X
Traditional channel $10,000 $50,000 in store 5X
$30,000incl. store
6XIncl. store
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$1,000 digital media investmentOffline
200 store visits
10% conv rate @$150
$3,000 in salesOmnichannel
$8,000 revenue8:1 Return
How to measure (a simplified example)
2,000 clicks
50 sales @ $100
$5,000 in sales
5:1 Return
Online
Technically possible 3yrs ago.
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Proprietary + Confidential
In just two years, measurement & ad technology has evolved tremendously
Store Visits
Store Sales
Local Inventory
Ads
Local Campaigns
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Local Campaigns drive shoppers to your stores
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Drive one more trip to top urban stores
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Drive searches for Indochino brand name
+70% increase in searches for brand after every store opening
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Drive visits to try the Beyond Meat burger
Drive pre-built visits to dealership1 in 5 clicks visit showroom
+23% in digital buyers1.2M visits
+13% same store sales growth
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Proprietary + Confidential
Mirror customer behaviour. Start measuring digital impact to store now.
Better tech is available now. Opt in and start testing.
Others have already started.Don’t get left behind.
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