WSL SPEECH SP12 FINAL

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FOLLOW SHOPPERS on a rollicking ride : 

FOLLOW SHOPPERS on a rollicking ride Presentation to STOREPOINT by Wendy Liebmann , CEO & Chief Shopper January 23, 2012 to the FUTURE rollicking ride to the FUTURE future

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today A Decade of Change New Shopper Mindset Flat Retail World New Retail World Emerges Retail = ?

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an introduction but first

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Welcome to WSL / STRATEGIC RETAIL Since 1986… we have helped global clients develop retail strategies based on deep understanding of shoppers and their “shopping life” -- today and tomorrow. know retailers RETAIL STRATEGISTS know shoppers SHOPPING FUTURISTS

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you will see the future of retail if you follow the shopper our philosophy

A DECADE OF CHANGE: 

1 A DECADE OF CHANGE changes everything

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inflation/deflation 9/11/01 Natural Disasters CORPORATE SCANDALS Political Scandals Global Warming p roduct recalls Afghanistan & Iraq Wars MORTGAGE MARKET COLLAPSE Revolutions “Turbo” technology Global recession

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Holiday 2011 revealed retail reality new

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“Black Friday: Stores could see record number of shoppers” Nov. 25, 2011, CNN Money “Retail Sales Disappoint…” Dec. 13, 2011, Forbes “Retailers Are Slashing Prices Ahead of Holiday” Dec. 22, 2011, The New York Times “Low, high-end sales boom while mid-level retailers founder” Jan. 9, 2012, MSNBC.com “December retail sales mostly flat, with e -commerce a standout” Jan. 12, 2012, Washington Post

NEW SHOPPER MINDSET: 

2 NEW SHOPPER MINDSET shopper control freaks

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HOW AMERICA SHOPS ®

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accepted she’s the new reality

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53 % The recession will last at least 1-2 more years National Internet Sample: Total U.S. Women HOW AMERICA SHOPS® MEGATRENDS 2012, “MOVING ON” JANUARY 2012 in 2010…

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51 % The recession will last at least National Internet Sample: Total U.S. Women HOW AMERICA SHOPS® MEGATRENDS 2012, “MOVING ON” JANUARY 2012 in 2012 … 3-5 more years

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29 % The recession will last National Internet Sample: Total U.S. Women HOW AMERICA SHOPS® MEGATRENDS 2012, “MOVING ON” | JANUARY 2012 2010 7 % in 2012 … 6 or more years

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she has her lifestyle re-prioritized

She’s CHANGED her LIFESTYLE: 

DOWN WHAT’S UP WHAT’S She’s CHANGED her LIFESTYLE *Note: Net change is the difference between those spending ‘more’ time doing an activity and those spending ‘less’ time. Q: Please indicate whether you are spending more time, less time or the same amount of time on each of the following activities compared to five years ago. National Internet Sample: Total Women THE PULSE OF SHOPPING LIFE: American’s lifestyles | JUNE 2011 % DOING LIFESTYLE ACTIVITY vs. 5 years ago *NET CHG. 98 Browsing online +49 90 Shopping online +38 93 Managing finances +28 97 Cooking at home +31 98 Watching TV/DVD’s +18 73 Caring for pets +17 64 Downloading music +11 97 Socializing with others +11 97 Cleaning the house +10 % DOING LIFESTYLE ACTIVITY vs. 5 years ago *NET CHG. 88 Vacationing -37 97 Shopping in stores -25 85 Home decorating -18 84 Entertaining at home -16 59 Volunteering -14 72 Attending church -12 74 Working for salary -12 96 Personal grooming -9 86 Wearing makeup -6

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she’s become one shopper smart

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75 % It’s important to get the lowest price on most things 68 % Regularly use coupons to reduce costs 58 % Stick to brands & stores I can afford 55 % Go a little further to shop stores where I can save 50 % Choose lower priced brands than their usual to save money National Internet Sample: Total U.S. Women HOW AMERICA SHOPS® MEGATRENDS 2012, “MOVING ON” | JANUARY 2012 43 % look online for discounts before shopping 42 % used to go to stores just to browse, don’t as much any more all the ways I’m smart $150K+ 53 % $150K+ 56 % $150K+ 36 % $150K+ 42 % $150K+ 24 % $150K+ 36 % $150K+ 30 %

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$150K+ 47 % 66 % Is this smart use of my money? National Internet Sample: Total U.S. Women HOW AMERICA SHOPS® MEGATRENDS 2012, “MOVING ON” JANUARY 2012 her everyday mantra….

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she’s taking control and moving forward

a flat world emerges: 

a flat world emerges 3 Technology changes everything

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old [vertical] world RETAILERS & BRANDS HAD THE POWER SHOPPERS FOLLOWED BASED ON INCOME

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Shoppers are in control …They are all seeing, all knowing new FLAT retail

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path to purchase is changing fast

Path to purchase BLENDS OLD & NEW…fast: 

Q: When trying to decide what to buy, where do you go? National Internet Sample: Total U.S. Women How America shops ® FROM BUZZ TO BUY 2.0 | November 2011 Path to purchase BLENDS OLD & NEW… fast WHERE SHOPPERS GO FOR INFORMATION 2011 Base: Total 1500 % Manufacturer Websites 69 Friends and family (online/offline) 66 TV/Magazine Ads 51 Retailer Websites 48 Sales Associates 29 Internet Review Sites 25 Emails from Manufacturers/Retailers 24 Social Networking Sites 19 Sales Associates 29

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47 % use mobile in-store to shop Q: How smartphone users use mobile phone in-stores National Internet Sample: Total U.S. Women How America shops ® FROM BUZZ TO BUY 2.0 | November 2011 mobile is her new shopping buddy

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57 % take pictures of what I want to buy 55 % compare prices 45 % update my status “I’m shopping!” 43 % get product information 42 % read product reviews 50 % find coupons/sales 36 % find an out of stock item Q: How do you use your mobile phone in-stores while shopping? National Internet Sample: Women Smartphone users FROM BUZZ TO BUY 2.0 | NOVEMBER. 2011 I use mobile in-store to…

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What is good RETAIL service? 2011 Base: Total Women 1504 % Shorter lines at checkout 78 Well-lit parking areas 74 Mailing coupons to my home 68 Knowledgeable staff 67 Easier ways to navigate stores 62 Better/closer parking 60 A good frequent shopper program 60 Extended operating hours 52 Security staff 52 On-site experts (e.g. Pharmacists, Nutritionists, etc.) 29 Customized coupons directly to my phone/ email 45 Website that makes buying onlin e easy 41 Ways I can access info while shopping in-store 34 Sales/ Specials alerts to my email or phone 32 Wi-Fi in store 17 Information from store on my social networking sites 17 Q; How important are the following services when you shop? National Internet Sample: Total U.S. Women THE PULSE: 21 st CENTURY SERVICE | OCTOBER 2011 mobile & online are now “service”

There’s an APPS for that…: 

WALGREENS Refill Rx by scanning the prescription bottle. SHOP SAVVY Scan bar codes & QR codes of products to find better deals from online retailers, and buy it on the spot. AISLE 411 Search, find and map products in the store down to the aisle section. KRAFT’s i food Get smart meal ideas and recipes, organize shopping list, find Kraft coupons and directions to the nearest store. There’s an APPS for that…

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puts her in charge turbo technology

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buy anything everywhere anytime she can now…

new retail world emerges: 

new retail world emerges 4 Now what?

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AS A RESULT … retail is being transformed. 24 months in the last…

Too many stores: BEST BUY DOWNSIZES: 

Too many stores : BEST BUY DOWNSIZES

Too many same stores: WALMART gets SMALLER: 

Too many same stores : WALMART gets SMALLER

Retailers find new traffic drivers…food: 

Retailers find new traffic drivers … food WALGREENS DRUG STORES , Chicago, il

Commodities disappear from the aisle: 

Commodities disappear from the aisle Diapers.com

from runway to shoppers on a click: 

from runway to shoppers on a click www.burberry.com

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so, how do we in a flat world? regenerate retail

RETAIL IS now ENGAGEMENT: 

RETAIL IS now ENGAGEMENT 5 ENGAGEMENT = VALUE

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no longer real estate only retail is…

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Questions to ask ourselves What’s worth it to her now? How do we get her into the store to buy? When she can buy anything, anywhere, anytime, how do we engage her? What business are we in? Real estate? Store design? Or relationships?

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store experience matters now really

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relationship create holistic need to any way , any where , any how she wants it

WITH STORES JUST the right size: 

WITH STORES JUST the right size Tesco , uk

…At THEIR fingertips: 

…At THEIR fingertips Tesco .co.uk & app

With Tools that EMPOWER THEM : 

With Tools that EMPOWER THEM TESCO MOBILE APP Shoppers scan product barcodes… to view product details… then add items to the basket.

With tools to engage them: 

With tools to engage them Tesco’s augmented reality Have your marker ready (Tesco Direct catalog, Tesco Clubcard , Tesco Tech support guide, or printed AR markers from tesco.com ) 1 Select the product you want to see from Tesco online store 2

Wherever THEY ARE…: 

Wherever THEY ARE… Tesco Home plus virtual store , subway, Seoul, Korea

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the rules break need to to keep her attention

Grow it in-store: 

Grow it in-store Giant eagle market district, PITTSBURGH, PA

ADD Sounds & smells [of the sea]: 

ADD Sounds & smells [of the sea] Real Future Store, Toenisvorst , Germany

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stay longer dazzle her to spend more

Dazzling food at eataly: 

Dazzling food at eataly Eataly , NEW YORK, NY

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Eataly , NEW YORK, NY

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Eataly , NEW YORK, NY

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Eataly , NEW YORK, NY

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Eataly , NEW YORK, NY

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store “ her ” make it

My store, my city: 

My store, my city Duane reade , New York, NY

My store, my community : 

My store, my community Lululemon

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…often, always innovate to make it easier, relevant, transformative

New reasons to come… after 4 PM: 

New reasons to come … after 4 PM Starbucks, Seattle, Wa

Flexible design constantly: 

Flexible design constantly Nube Green, Seattle, WA

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connection emotional build an

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Apple, New York, NY

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Apple, New York, NY

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Bruce Dybvad CEO, Interbrands /Design Forum ” “ …Tesco’s bold move into m -commerce [ Homeplus , Korea] is clear evidence that the store as we traditionally think of it is becoming, if not obsolete, at least woefully out of date. Even the word ‘store’ feels a bit moss-grown, implying a fixed set of stockpiled items waiting for a shopper to come pick them up. Retail…is now about engagement . Engagement is about content and context addressing unmet needs, which is something people enjoy and share.

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Create a holistic relationship Break the rules to keep her attention Dazzle her to stay longer Make it “her” store Innovate often, always Build an emotional connection steps to success 6

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“Critical Shopper” Cintra Wilson The New York Times, September 9, 2010 logistics follow desire ” “ …To find hope in a marketplace, one must first have enough faith in the future to support newness… and resist the temptation to go back to the graveyard, dig up and worship the bones of inspirations long deceased .

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future Welcome to the future

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OUR SYNDICATED SHOPPER TOOLS YOU NEED EVERYDAY WHERE DID THE WALMART SHOPPER GO? Nationwide survey of 1450 Walmart shoppers June 2011 FOR MORE INFO and TO ORDER call: 212-924-7780 or email: info@wslstrategicretail.com FROM BUZZ TO BUY 2.0 Nationwide surveys of 1,500 shoppers By channels November 2011 MEGATRENDS 2012 Release Date: Jan. 31, 2012 Biennial report since 1989. Nationwide surveys of 1,700 shoppers GOTTA SEE the Future of Retail 35-40 tours/year Virtual tours of retail trendmakers around the world Trends from the EDGE 10 issues/year Trendletter : Early alert to emerging shopping trends around the world The PULSE of Shopping Life 20 issues/year Nationwide surveys of 1500 shoppers, women/men How America Shops ® & How the world Shops ®

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custom consulting helps you develop strategies for the future OUR CUSTOMIZED consulting SERVICES FOR MORE INFO call: 212-924-7780 or email: info@wslstrategicretail.com DISTRIBUTION STRATEGY CHANNEL STRATEGY CATEGORY DEVELOPMENT SALES TEAM EVALUATION CUSTOM RESEARCH innovation STRATEGY

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307 Seventh Avenue Suite 1707, New York NY 10001 P 212.924.7780 | F 212.924.7608 | E info@ wslstrategicretail.com www.wslstrategicretail.com WENDY LIEBMANN CEO & CHIEF SHOPPER WLIEBMANN@WSLSTRATEGICRETAIL.COM