Download - The DNA Of The Cross-Channel Shopper

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

  Over 20,000 subscribers

  To provide executives with relevant,

insightful content across a variety of

digital medium

Free subscription to our weekly newsletter: www.retailtouchpoints.com/signup

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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


•  No Longer Op9onal

•  Organiza9onal Challenges

•  System Challenges

•  Customer-‐Centric

•  Mobile Expecta9ons

•  Delivering Cross-‐Channel

•  The Future

•  Summary

Agenda


•  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


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.


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


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 ????


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


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 !!!!


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 !!!!


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


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

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Thanks for attending!

You can download this presentation & research White Paper here:

http://rtou.ch/shopper-dna

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Panelists

Contact Andrew at:

[email protected]

Contact Mike at:

[email protected]