the dna of the cross-channel shopper
DESCRIPTION
Consumers are choosing where to shop based on the convenience and flexibility retail brands offer across channels. This webinar will highlight new consumer survey data highlighting the shifting expectations of today's cross-channel consumer. The data will examine emerging trends around: Growing loyalty to brands that offer a good selection and competitive prices across all channels Shoppers willingness to move their to another retail brand when they encounter inconsistent pricing across channels; A growing disconnect with brands that offer inflexible, shipping, pick-up or return options New interest in making purchases directly on mobile devicesRegister now for this webinar to hear analysis of this new consumer shopping data, as well as real world examples of how global retailers are adapting to address these shifting shopper expectations.TRANSCRIPT
The DNA Of The CROSS-CHANNEL SHOPPER
Analysis of new consumer shopping data with real world examples of how global retailers are adapting to address these shifting shopper expectations.
#LiveWebinar November 3, 2011
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About Retail TouchPoints
Launched in 2007
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Panelists
Andrew Gaffney Research Director Decision Tree Labs
Mike Elder Director, Retail Practice Junction Solutions
Debbie Hauss Editor-in-Chief Retail TouchPoints
Moderator
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About Decision Tree Labs
Launched in 2010
Division of G3 Communications
Using a targeted online consumer
panel, with the ability to focus on
specific demographic groups—
based on geography, income or
shopping habits.
For more info, head over to DecisionTreeLabs.com
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About The Survey
Gender Age Group
283 CONSUMERS SURVEYED
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Growing Influence of the Web
40% OF CONSUMERS said they increased their online shopping ac1vity
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Changing Channel Preferences
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Cross Channel Climbing
45% an1cipated more of their shopping will occur across mul1ple channels in the
coming year
NEARLY HALF
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Shifting Shopping Behaviors
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Changing Channel Expectations
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New Loyalty Drivers
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Channel = Choice
32% of respondents cited the ability to change an order or return an item in the
channel of choice
32% of respondents are influenced by having personalized shopping experience based on individual history and
preferences. 27% valued the ability to have visibility into real-‐9me
order status.
45% of respondents valued the ability to have
convenience of being able to “shop and receive merchandise in the sales channel of my choosing”.
41% of respondents were
cited as the top influence on customer loyalty,
followed by the ability to receive promo1onal offers in all shopping
channels.
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New Factor for Attrition
86% OF CONSUMERS
are somewhat or highly likely to move their business to another retail brand when they encounter
inconsistent pricing across channels.
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New Shopper DNA
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Mobile: The Next Frontier
10 (11%) said they had made a purchase
directly on their mobile device, compared to 8%
who said they had completed a transac1on via a social media site.
MORE THAN ONE IN
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
junc9onsolu9ons.com where technology meets inspira9on
atlanta l denver l san francisco l st. louis l toronto
CROSS-CHANNEL CHALLENGES
multi-channel retail: catalog, web, mobile, direct, mail B2B and B2C
Mike Elder, Director, Retail Practice
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
• No Longer Op9onal
• Organiza9onal Challenges
• System Challenges
• Customer-‐Centric
• Mobile Expecta9ons
• Delivering Cross-‐Channel
• The Future
• Summary
Agenda
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
• Founded in 2002
• Headquartered in Denver 6 offices in North America Partner rela1onships globally
• Deep Focus in Mul9-‐Channel Retail, Cross-‐Channel Retail Customers include Simon Pearce, Global Wine, Miles Kimball,
Century Mar1al Arts, Peet’s Coffee & Tea
• Solu9ons are built exclusively on MicrosoX Dynamics® AX
• Recognized for excellence in solu9ons and customer engagement Gold Cer1fied CfMD Cer1fied AMR Cer1fied (Dynamics AX for Retail) 2010 MicrosoV Partner of the Year – Retail 2011 MicrosoV Dynamics® Award Excellence in Evangelism
(Peet’s Coffee & Tea)
Junc9on Solu9ons Overview
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
Cross-‐Channel is No Longer Op9onal
As indicated by the study ….
Customer expects you to look like one consistent retail opera1on • Retail Store • Catalog/call center • Web store • Mobile (emerging)
How you should look to the customer:
Your channels are just shopping op9ons to the customer. They are simply different varia9ons of the same retailer.
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
Organiza9onal Challenges
How your corporate organiza1on probably looks:
Silo organiza1ons: • Separate profit centers for each channel • Separate merchandising/buying teams • Poten1ally separate IT • Conflict common
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
System Challenges
How your systems probably look:
Poten1ally separate applica1ons cobbled together for: • Order management • E-‐commerce • Point-‐of-‐Sale • Financials • and more …
Disparate system components: • Different focus • Different decision makers • Different func1onality • Best of Breed ????
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
Customer-‐Centric
Customer doesn’t care about your organiza1on or system challenges
Customer expects consistency and transparency across channels:
Product master Pricing Promo1ons Customer Data
And Ancillary Services such as: Returns Loyalty programs GiV Registry
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
Mobile Expecta9ons
Just when it couldn’t get any harder:
Mobile is elimina1ng price as a compe11ve factor
Retail success in the future will be increasingly dependent upon influencing customer behavior:
• Service • Suppor1ng informa1on • Shipping • Consistency • Performance reputa1on • Loyalty
Across all your channels !!!!
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
Delivering Cross-‐Channel
Brute Force • Load and try to maintain data manually across channels
Integrate your data and systems • Master system for record data • Varying degrees of integra1ons and methods
All-‐in-‐one solu1on with built-‐in integra1on • Missing or limited func1onality • Most common examples are e-‐commerce suites that support call center
Issues • Synch and 1ming of data • Performance • Agreement between channel organiza1ons • Differences between disparate system func1onality • Expensive
It is not easy delivering on cross channel !!!!
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
The Future
The Cloud
• Disparate systems (available now) • Use cloud-‐based services and data stores • Current example: Online credit card authoriza1on • Cross-‐channel func1onality example:
• GiV registry
• Fully Integrated Solu1on in the cloud (coming) • Applica1on designed and built to run via cloud • Integrated sharing of data and func1onality
© 2011 Copyright Junction Solutions. All rights reserved. junc9onsolu9ons.com where technology meets inspira9on
Summary
Effec1ve Cross-‐Channel Interoperability Is Not Op1onal
Your customers expect it
Your compe1tors are akemp1ng it
You can do it
Excelling at cross-‐channel execu9on can be a significant differen9ator you can leverage to your advantage.
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Q&A Session Your GoToWebinar Attendee Viewer is made of 2 parts:
1. Viewer Window 2. Control Panel
Type your ques9on here
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Panelists
Andrew Gaffney Research Director Decision Tree Labs
Mike Elder Director, Retail Practice Junction Solutions
Debbie Hauss Editor-in-Chief Retail TouchPoints
Moderator
#LiveWebinar
Thanks for attending!
You can download this presentation & research White Paper here:
http://rtou.ch/shopper-dna