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BIG BREAKFAST
#retailoasis
NRF BIG SHOW & CES
#retailoasis
CHALLENGE YOUR THINKING ON
THE FUTURE OF RETAIL
#retailoasis
MARK RORY PIPPA
DJ
RETAIL STRATEGY CONSUMER TECNOLOGY
Q&A
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WE TOOK IN THE BIG APPLE’S BEST RETAIL
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VISITED THE NRF’S BIG SHOW
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DISCUSSED LOTS OF BIG TOPICS
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CURATING WITH CONFIDENCE
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PERSONALISATIONCURATING WITH
CONFIDENCE
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DE-COMMODITISATION
PERSONALISATIONCURATING WITH
CONFIDENCE
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DE-COMMODITISATION
PERSONALISATION
GETTING EMOTIVE
CURATING WITH CONFIDENCE
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GOT INSPIRED BY RICHARD BRANSON’S PHILOSOPHY:
SCREW IT, JUST DO IT!
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BUT THE BIGGEST TOPIC OF CONVERSATION WAS…
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EMPOWERING THE SALES ASSOCIATE
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“WE ARE TOTALLY RELIANT ON OUR ASSOCIATES”
Greg Foran CEO, Walmart
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“GREAT SALESMANSHIP WON’T CHANGE IN THE NEXT 5 YEARS”
Terry Lindgren CEO, Macy’s
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“ONE THING THAT WILL NEVER BE COMMODITISED IS PEOPLE”
James Rees CEO, Ashley Stewart
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NRF FOUNDATION ANNOUNCED RISE UP
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THE BIG TOPIC WAS HOW TO EMPOWER YOUR GREATEST ASSETT
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WHY? THEY ARE YOUR FIRST LINE OF
DEFENCE AGAINST E-COMMERCE
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THEY CAN DELIVER THE
PERFECT RETAIL BRAND EXPERIENCE
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BUT THEY NEED TO BE…
1. IDENTIFIED
2. DEVELOPED
3. EMPOWERED
4. REWARDED
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THEY NEED TO BE EXPERTS IN DIGITAL & OMNI-CHANNEL
THEY NEED AT THEIR FINGERTIPS…
DIRECT COMMS WITH
CONSUMER
ABILITY TO ADVISE &
GUIDE
REPORTING AND
ANALYICS
NEW PRODUCT
INFO
CUSTOMER PROFILING
PURCHASE HISTORY
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WITH THIS INFORMATION, SALES ASSOCIATES CAN BUILD SUSTAINABILITY
RELATIONSHIPS WITH THEIR CUSTOMERS
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THE FUTURE OF RETAIL IS NOT WHAT..IT’S WHO
BIG BREAKFAST: MARK RETAIL
#retailoasis
Retail Distribution
It took Uber 5 years to book its billionth trip
then… 6 months to book its 2nd billionth journey
Standalone "big box" stores Traditional Malls Local independant stores not in malls
38%
50%
59%
42%
53%
63%
Source: Deloitte 2016 Holiday Survey (US)
At which of these types of stores do you plan to shop this holiday season?”
In the US, traffic to physical stores continues to decline…but, purchase intent is up
2016
US$0
US$100
US$200
US$300
US$400
Top 8 US Retail Amazon
US$355.9US$298
Half of every additional dollar spent online in the US is with
Change in market value 2006 vs 2016 (US$B)
25% 1,934%
follow the customer and you will never have to look for growth
brands that create extraordinary experiences achieve financial returns more than double the market
=
Physical RetailDigital Retail
imagination&courage
SOHO
SOHO
visit store
choose product
sign-up &experience
CRM
DMPAd-servers
of millennials78prefer to spend money on experiences over products
%
customers willing to pay +20% more for personalisation
digital now influencing the majority of all retail transactions
$295bneCommerce Sales
$1.8Tdigitally influenced
sales
US Retail 2016
follow the customerand you will never have to look for growth
BIG BREAKFAST: RORY STRATEGY
#retailoasis
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STRATEGIC SHIFTS AND GROWTH
HOW ARE BUSINESSES CONTINUING TO GROW?
THE UNDERPINNERS THE ENGINE
• Seek to understand the customer
• Help them achieve their personal goals
• Optimal efficiency and rigorous measurement
• Profit is still a goal
• The best engines might be complex to make but are simple and elegant to use
THE BIG SHIFTS
generation
technology
retail
environment
boomers millennials
capitalism conscious capitalism
ecosystems
start-up
omni
big box
UNDERSTAND PURPOSEPurpose sets your world, it should be where you and your customers agree to play. It’s as wide as you want it to be -
provided you operate with authenticity and permission
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NORDSTROM'S COMMITMENT In store or online, wherever new opportunities arise, Nordstrom
works relentlessly to give customers the most compelling shopping experience possible. The one constant? John W.
Nordstrom's founding philosophy: offer the customer the best possible service, selection, quality and value.
NORDSTROM FOCUS
Trunk Club
Nordstrom Cares
One on one customer communication
Accelerator models
DRIVE SUSTAINABILITYSustainability is about paying attention to community standards and then choosing to lead or when to participate in the related changes Your customers would prefer you be responsible than give them a
loyalty program Waste is a key concern, from plastic in landfill to unutilised assets, find
a way. Be consistent with your own brand and reputation Don’t greenwash!
from: take to: give
take a position
share-holder oriented stakeholder alignment (SPICE)
create a purpose
sell a product promote a higher ideal
do business with anybody (demographic)
do business with ‘believers’ (psychographic)
CSR responsible business
CREATING A LARGER BUSINESS SHIFT:
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BE LOCAL The cookie cutter doesn’t help your customer enjoy your company Recognise you are part of the community you are located within
Customers remember difference and effort
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BE PERSONAL Don’t shout, have a conversation. Your customer will answer your questions for
as long as you show you are listening. Customise where you can Listen, you might learn something
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DON’T CARRY STOCK, CARRY SOLUTIONS
Talk to your customer, would they exchange ‘possibly have it now’ for ‘certainty at an agreed time’. Endless aisle is endlessly irritating
Offer services to help both of you
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Trunk Club
Bonobos
‘channels are a language retailers speak to justify what they’re spending
on IT. It’s not understood by the customer’
Sir Charlie Mayfield, Chairman, John Lewis Partnership
WHAT THIS MEANS:
leverage creator
consumer
engage with the consumer before store or purchase
embrace the changing role of the store
BEING LOVED IS KEY AND MEASURABLE
BIG BREAKFAST: PIPPA CONSUMER
#retailoasis
CONSCIOUS CAPITALISM
RETAIL-AS- A-SERVICE
SILICON VALLEY EFFECT
REBIRTH OF CREATIVITY
CONSCIOUS CAPITALISM
“IT USE TO BE THAT THE ONLY THING THAT MATTERED WAS THE SHAREHOLDER AND THE
BOTTOM LINE…
NOW WE WANT GREATER PURPOSE IN LIFE.
IF WE COULD GET EVERY BUSINESS TO ADOPT A PROBLEM IT WOULD SOLVE BIG THINGS FOR THE WORLD. IF WE DON’T DO THINGS LIKE THIS, WE
LEAVE IT TO GOVERNMENT AND THE SOCIAL SECTOR - IT WON’T GET MUCH BETTER”
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“LONG-TERM THINKING IS MORE IMPORTANT THAN SHORT-TERM.
THE QUESTION IS HOW DO WE MAKE SURE WE’LL BE AROUND IN THE NEXT 100 YEARS?”
CEO, IKEA North America
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BUSINESSES RE-ORIENTING THIS WAY ARE OUTPERFORMING…
TOTAL RETURN
15 YEARS 10 YEARS 5 YEARS 3 YEARS
FoE* COMPOSITE *CONSCIOUS BIZ 1681% 410% 151% 83%
GOOD TO GREAT COMPANIES 263% 176% 158% 222%
S&P 500 118% 107% 61% 57%
n.b. FOR composite includes Amazon, Starbucks, Ikea, Whole Foods, Nordstrom, Costco, REI, Ebay, Wegmans, Chipotle, L.L. Bean, Container Store, Trader Joes, New Balance, Patagonia etc.
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REFORMATION, SOHO
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“IT’S NOT ONLY OUR JOB TO PROVIDE CLOTHING TO WOMEN BUT ALSO TO LET THEM KNOW HOW MUCH
POWER THEY CAN HAVE IN THE FIGHT AGAINST TRADITIONAL FASHION PRACTICES.
I HOPE THAT MOVING FOWARD SUSTAINABILITY ISN’T SEEN AS AN ADDED BONUS FOR COMPANIES. IT SHOULD
BE THE STANDARD”
YAEL AFLALO, FOUNDER & CEO
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WHOLEFOODS, BKLN
WHO’S DOING IT WELL?
WHOLEFOODS AND GOTHAM GREENS
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“HOW WOULD I FEEL IF WHAT I’M DOING RIGHT NOW IS WRITTEN UP ON THE FRONT PAGE OF THE WALL STREET JOURNAL OR THE NYT OR IF IT IS ON TV? WOULD I STLIL
DO IT?…THIS IS A USEFUL EXERCISE BECAUSE WE SHOULDN’T BE EMBARRASSED OR ASHAMED OR
ANYTHING WE DO”
JOHN MACKEY, FOUNDER WHOLEFOODS MARKET
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SWEETGREEN
WHO’S DOING IT WELL?
SWEET GREENS
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WHAT THIS MEANS:
BE A STEP AHEAD OF THE
CUSTOMER
NOT CSR BUT BUSINESSES A
FORCE FOR GOOD
BE CAUGHT DOING THE
RIGHT THING
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THE SILICON VALLEY EFFECT
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RETAIL HAS TRADITIONALLY FOLLOWED A DERIVATIVE MODEL - WHAT WORKED IN ONE COUNTRY WAS THEN MADE TO WORK OR COPIED IN ANOTHER COUNTRY.
WE SEE COMPETITION AS VALIDATION - IF THEY’RE DOING IT WE MUST DO IT TOO.
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“WHEN LOTS OF PEOPLE ARE TRYING TO DO THE SAME THING
THAT’S THE DEFINITION OF INSANITY”
PETER THIEL, FOUNDERS FUND
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WE ARE MOVING FROM GLOBALISATION TO TECHNOLOGICAL PROGRESS - WHERE THE COMPETITION
DON’T EVEN THINK OF THEMSELVES AS RETAILERS
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“OUR VISION AT AMAZON IS TO BE THE WORLD’S MOST CUSTOMER-CENTRIC COMPANY. WE DON’T VIEW OURSELVES
AS A BOOKSTORE OR A MUSIC STORE”
JEFF BEZOS, FOUNDER/CEO
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“THE EXPECTATION FOR GREAT CUSTOMER SERVICE IS BEING SET BY DIGITAL NOT STORE. FROM THE TOP
DOWN WE LOOK AT THE DIGITAL POINT-OF-VIEW AND HOW THAT WILL EFFECT HER EXPERIENCE”
REBECCA MINIOFF, FOUNDER/CEO
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“TO WIN YOU NEED GREAT TECHNOLOGY AND THE BEST ENGINEERING TEAM”
MIKE MCNAMARA, TARGET CIO
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⁃ Amazon Alexa in home ⁃ Warby Parker ⁃ Glossier ⁃ Outdoor Voices
AMAZON ALEX @ CES
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WITH ALEXA THERE IS “AN
AMAZON CASH REGISTER IN
EVERY HOUSE IN THE COUNTRY”
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GLOSSIER, NYC
WHAT THIS MEANS:
DON’T DEFINE YOURSELF BY
‘RETAIL’
IF EVERYONE’S DOING IT THINK
AGAIN
INVEST IN TECH OVER ‘COPYING’
RETAIL-AS-A-SERVICE
pre-internet now emerging
PRODUCT EXPERIENCE SERVICES
EMERGING MILLENNIAL
GENERATION - NO NEED TO OWN
MINDSET
CONSCIOUS CAPITALISM
THE SILICON VALLEY EFFECT
ONLINE COMMODITISING PRODUCT + PRICE
RETAIL-AS-A SERVICE
RENT THE RUNWAY
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This is taking where what's happening in tech and applying it to retail.
TRUNK CLUB
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WHAT THIS MEANS:
SMALLER STORE
FOOTPRINT
STORE AS SHOWROOM
NOT PLACE OF PURCHASE
DESIGN AROUND
SERVICE NOT PRODUCT
REBIRTH OF CREATIVITY
WE LIVE IN A TIME OF COMMODITISATION.
YOU CAN OVERCOME THIS THROUGH STRONG AND EDITED CREATIVE DIRECTION - OR SAID ANOTHER
WAY NOT BEING EVERYTHING TO EVERYONE
“THE THING WE SELL AT OUR RESTAURANT IS AVAILABLE AT EVERY OTHER RESTAURANT…IF
YOU’RE SELLING STUFF YOU’LL BE IN A COMMODITY HEAP. YOU NEED A FLAVOUR OR A THREAD - TO BE A
GOOD EDITOR’
DANNY MEYER, CEO UNION SQUARE HOSPITALITY
TITLE
BARNEY’S DOWNTOWN
TITLE
LULULEMON LAB
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WHAT THIS MEANS:
CREATIVE DIRECTION IS
KEY
NOT ALWAYS ‘MEASURABLE’
STAND FOR SOMETHING DON’T COPY
CONSCIOUS CAPITALISM
RETAIL-AS- A-SERVICE
SILICON VALLEY EFFECT
REBIRTH OF CREATIVITY
BIG BREAKFAST: DJ TECHNOLOGY
#retailoasis
BEST OF CES 2017
2.5 million sq feet of exhibit space
140 countries represented
177,000+ attendees (+7K from last year) 580
exhibitors in Eureka Park
25,000 new products will launch
53,000+ international attendees
Self-Driving Cars
Virtual Reality / Augmented Reality 1
2
3
4
KEY THEMES OF CES 2017
Screens
Smart Everything
OSSIC X - First headphones
designed for VR - Markes music and
sound appear to ‘move’ as you turn your head
- Only smartphones to feature Google Tango Technology
- Sensors convert a room into a virtual playspace
- US$733-$1,333
- Turns any couch or chair into a cockpit
- Matches with home theatre, music, VR
Razor Project Valerie - Triple display laptop - still
in prototype phase - 3x17” displayed designed
for gaming. 108 degree wraparound experience
- Hear One: World’s first in-ear computer
- Designed to be worn all day, connects to AI personal assistant and dynamic translation
- US $299 pre-order
- Automated craft-beer brewing machine
- At-home craft beer that ‘you’d actually enjoy drinking’
- US$549.99 pre-order
- World’s first wearable blood alcohol sensor
- Inc. Socially enabled mobile app to see ‘who’s partying the hardest’
- US$99
Hair Coach - L’areal & Withings - a hair
advisor in brush form - Trains you to improve
brushing technique by vibrating when stroked too hard
- US$200
Kissenger - World’s first mobile kiss
messenger - Kiss loved ones even
when you’re physically apart.
THEN (90s) NOW (00s) NEXT (20s)
INFORMATION AGE
INTERACTIVE AGE
IMMERSIVE AGE
connected computers allowed those who
controlled knowledge to dominate
connected devices allowed those creating compelling experiences
to rule
advancements allow those who push
reality to be seen as leaders
1
2
3
4
5
Progression
Acceleration
Trust
Integrate
Innovate
LEARNINGS
JOIN US IN NYC 2018 JAN 10-16TH
email: enquire@retailoasis.com
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