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Trends in Retail

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TRENDS IN RETAIL THE OMNICHANNEL FUTURE TRENDS IN RETAIL THE OMNICHANNEL FUTURE
Transcript
Page 1: Trends in Retail

TRENDS IN RETAILTHE OMNICHANNEL FUTURETRENDS IN RETAILTHE OMNICHANNEL FUTURE

Page 2: Trends in Retail

TODAY, IN ECOMMERCE, "E" = EVERYWHERE.

TODAY, IN ECOMMERCE, "E" = EVERYWHERE.

001 1

110

1100

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111 000

001 1110 1100 1110 111 000

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Page 3: Trends in Retail

Researching a product can happen in-store, online or over a cuppa with friends. Buying a product can happen in-store, online

or over that same cuppa. And rating that product? Ditto.

Page 4: Trends in Retail

Within this omnichannel world, the online channel is growing. Online spending in Australia increased at a compound annual

rate of 18.2% over the five years through 2014-15.*

2013 20182017201620152014

*Source: IBISWorld Industry Report I5102, 'Courier Pick-up and Delivery Services in Australia', October 2014.

Page 5: Trends in Retail

To keep up with this trend – and capitalise on it – retailers need to know what an omnichannel shopper looks like,

and how to keep them happy.

Page 6: Trends in Retail

THE RISE AND RISE OF THE OMNICHANNEL SHOPPER

THE RISE AND RISE OF THE OMNICHANNEL SHOPPER

Page 7: Trends in Retail

$$

The consumer went to market and bartered their

eggs for wool.

The consumer went shopping with a full purse. They came home with an empty purse

and a full bag.

THE CONSUMERTHE CONSUMER

1800S1800S 1900S1900S

$$$$ $$

Page 8: Trends in Retail

The 2000s consumer goes nowhere and everywhere.

But boy, do they shop.

In the 12 months to January 2015, online retail sales in Australia grew 9% to reach

$16.6 billion*.

*Source: http://business.nab.com.au/online-retail-sales-index-in-depth-report-january-2015-9980/, accessed May 2015.

THE CONSUMERTHE CONSUMER

2000S2000S TODAYTODAY

$16.6BILLION

BUY NOW

*Source: IBISWorld Industry Report I5102, 'Courier Pick-up and Delivery Services in Australia', October 2014.

Page 9: Trends in Retail

The world is their marketplace, with overseas e-tailers also catching consumers' eyes ... and their credit cards.

*Source: Source: http://business.nab.com.au/online-retail-sales-index-in-depth-report-april-2015-11332/, accessed June 2015.

CONSUMERS TODAY HAVE MORE CHOICE THAN EVER.

CONSUMERS TODAY HAVE MORE CHOICE THAN EVER.

AUSTRALIAN WEBSITES

75.5%

OVERSEAS WEBSITES

24.5%

Page 10: Trends in Retail

Consumers research purchasing decisions in-store, on the web, on their phones, via social media,

through advertising, and more.

Page 11: Trends in Retail

CONSUMERS LIKE TO SHOUT ABOUT THEIR SHOPPING

EXPERIENCES, GOOD OR BAD.

CONSUMERS LIKE TO SHOUT ABOUT THEIR SHOPPING

EXPERIENCES, GOOD OR BAD.

The consumer review is about much more than just the product. They'll rate the entire experience – including

ordering, pick-up or delivery, returns and more.

Page 12: Trends in Retail

The consumer went to market and bartered their

eggs for wool.

The consumer went shopping with a full purse. They came home with an empty purse

and a full bag.

Click & collectSame day deliveryFree or flat rate returnsClear policies on shipping & returns24/7 customer service

1.

1.2.3.4.

5.4. 5.

2. 3.

Remember, changing habits create new expectations. Consumers today expect big things from online stores.

Page 13: Trends in Retail

The 2000s consumer goes nowhere and everywhere.

But boy, do they shop.

In the 12 months to January 2015, online retail sales in Australia grew 9% to reach

$16.6 billion*.

*Source: http://business.nab.com.au/online-retail-sales-index-in-depth-report-january-2015-9980/, accessed May 2015.

IT’S NO LONGER IT’S NO LONGER

TO THE MARKETTO THE MARKETAS SIMPLE AS A TRIPAS SIMPLE AS A TRIP

Page 14: Trends in Retail

AS THE SHOPPER EVOLVES,SO TOO MUST THE RETAILER.AS THE SHOPPER EVOLVES,

SO TOO MUST THE RETAILER.

OPEN

MALL

MARKET STALL RETAIL MALL ONLINE STORE

Page 15: Trends in Retail

ORDER

IN-STORE, TECHNOLOGY IS INVADING EVERY ASPECT OF THE

SHOPPING EXPERIENCE.

IN-STORE, TECHNOLOGY IS INVADING EVERY ASPECT OF THE

SHOPPING EXPERIENCE.

RFID tags on clothes

Kiosks foronline ordering

Life sized touchscreens

Page 16: Trends in Retail

In this omnichannel retail environment, retailers need to rethink fulfilment strategies. How do you meet consumer needs without

blowing budgets on warehousing, distribution and freight?

Page 17: Trends in Retail

*Source: 2015 Third Party Logistics Study: The State of Logistics Outsourcing, John Langley Jr and Capgemini, 2015.

In a recent study, nearly one third of retailers are not ready to handle omnichannel retailing.*

ONE THIRD AREUNPREPARED

Page 18: Trends in Retail

Reduced shipping costs

Improved order fill rates

Improved accuracy

Often, third party logistics steps in to save the day for smaller retailers.

*Source: 2015 Third Party Logistics Study: The State of Logistics Outsourcing, John Langley Jr and Capgemini, 2015.

TO SUM UP...TO SUM UP...

Page 19: Trends in Retail

Other times, it's savvy strategies around returns and exchanges, like BirdsNest's 365-day returns policy.

Page 20: Trends in Retail

Customer service plays a critical role across channels, too. It's all about maintaining the same level of trust, regardless

of the channel used to research or buy a product.

Page 21: Trends in Retail

An omnichannel retailer must take all of these things into account, and keep abreast of evolving trends. Get it right, and you'll enjoy

loyal, long-term relationships that boost the bottom line.

OPEN

$ $

Page 22: Trends in Retail

Learn about how StarTrack can assist with fulfilment of your orders. To find out more, send us an

enquiry or call 13 23 45

READY TO GROW READY TO GROW YOUR BUSINESS?YOUR BUSINESS?


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