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8/14/2019 Retail_TV
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Ray Garcia Feb. 09Ray Garcia Feb. 09Center for Future Banking at MIT MediaCenter for Future Banking at MIT MediaLabLab
AugmentedAugmented
Reality RetailReality RetailIn-store Media Video TVIn-store Media Video TV
the shared shoppingthe shared shoppingexperienceexperience
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What is it? Shown byWhat is it? Shown by
ExampleExample
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While your shoppingWhile your shopping
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At the shelvesAt the shelves
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At the checkoutAt the checkout
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In different placesIn different placesBANK | HOTEL | COMMUNITY | SCHOOL
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The AudienceThe Audience
No single medium offers widespreadNo single medium offers widespread
access to consumers. TV, Newspaper,access to consumers. TV, Newspaper,
Magazines, Web. (few exceptions likeMagazines, Web. (few exceptions like
Super Bowl)Super Bowl)
Retail Environment is the new mediumRetail Environment is the new medium
for mass marketing. The place andfor mass marketing. The place andshopping provides a context andshopping provides a context and
implied intentionimplied intention
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Retail in-store advertisingRetail in-store advertising
Traditional - cardboard displays, printTraditional - cardboard displays, print
ads, flyers, couponsads, flyers, coupons
New in-store video, amazon likeNew in-store video, amazon likerecommendation engines, mini-kioskrecommendation engines, mini-kioskon carts and shelves, store navigation,on carts and shelves, store navigation,
product info, use of mobile for UPCproduct info, use of mobile for UPClook-uplook-up
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Growth PotentialGrowth Potential
TV, Newspaper, Magazines at 2%TV, Newspaper, Magazines at 2%
annuallyannually
On-line growing at 20%On-line growing at 20%Reason: greater targeting, customerReason: greater targeting, customer
interaction, measurabilityinteraction, measurability
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TrendTrend
Trending away from TV advertising toTrending away from TV advertising to
promotional, loyalty programs, word-promotional, loyalty programs, word-
of-mouth, events, all forms of retailof-mouth, events, all forms of retail
displaydisplay
Trillion $ each year for on location Trillion $ each year for on location
promotion and growing 6%. Topspromotion and growing 6%. Topstraditional Advertisingtraditional Advertising
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Point of PurchasePoint of Purchase
Most purchase decisions are made at theMost purchase decisions are made at the
shelf so influences on location areshelf so influences on location aresignificantsignificant
In-store video networks can potentiallyIn-store video networks can potentially
reach more customers than major broadcastreach more customers than major broadcastnetworks with higher relevancy and greaternetworks with higher relevancy and greater
recallrecall Can target aisle, shelf, time of day,Can target aisle, shelf, time of day,
geography, inventory, individual preferencesgeography, inventory, individual preferences
Desire to drive consumer behaviourDesire to drive consumer behaviour
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In-store Video MarketIn-store Video Market
$500 Million a year and will grow$500 Million a year and will growrapidlyrapidly
PioneersPioneers
PRN in 6500 stores, partnered with NBCPRN in 6500 stores, partnered with NBC
CBS outernet 10,500 locationsCBS outernet 10,500 locations
OnSpot Network, partner with PublicisOnSpot Network, partner with Publicis1,300 screens, Simon Brand Malls1,300 screens, Simon Brand Malls
Captivate Network, 8,200 flat screens inCaptivate Network, 8,200 flat screens inelevatorselevators
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Whats the impactWhats the impact
Targeting is key, migration to IPTV andTargeting is key, migration to IPTV and
varied content produces 10% highervaried content produces 10% higher
salessales
Walmart Smart Network in 2700Walmart Smart Network in 2700StoresStores
Store instrumentation forStore instrumentation formeasurement, can connect to shelvesmeasurement, can connect to shelves
and items purchasedand items purchased
Behavioral tracking instead ofBehavioral tracking instead of
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Research neededResearch needed
How to identify customersHow to identify customers
Privacy versus public viewingPrivacy versus public viewing
Study needed for Ad recall andStudy needed for Ad recall andinfluenceinfluence
How does it complement Broadcast TVHow does it complement Broadcast TVand other in-store promotionaland other in-store promotionaldisplaysdisplays
Nielsen PRISM is leading in-storeNielsen PRISM is leading in-store
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The Ad marketThe Ad market
Broadcaster deliver high impactBroadcaster deliver high impact
campaigns to large audiencescampaigns to large audiences
Internet is to fragmented forInternet is to fragmented foradvertisers to aggregate attentionadvertisers to aggregate attention
Market may need big network playersMarket may need big network players
to aggregate selling of Ad slotsto aggregate selling of Ad slots
Google like Ad Market may developGoogle like Ad Market may develop
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In-store AdvantagesIn-store Advantages
One channel focusOne channel focus
Frame of mind of shopperFrame of mind of shopper
Higher potential relevancyHigher potential relevancy
Can provide informational help How-Can provide informational help How-
ToToWith mini-kiosk on cart may provideWith mini-kiosk on cart may provide
amazon like recommendationsamazon like recommendations
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FuturesFutures
Provoking Shopper social contagionProvoking Shopper social contagion
In-store video is the start of placing theIn-store video is the start of placing theinfrastructure to instrument the storeinfrastructure to instrument the store
Video tracking, identification of people andVideo tracking, identification of people andproduct interest, directed audio, flow andproduct interest, directed audio, flow andcrowd dynamics, out of store continuitycrowd dynamics, out of store continuity
Multi-channel marketing across situationsMulti-channel marketing across situationsand devices.and devices.
Context awarenessContext awareness
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Innovations inInnovations in
Augmenting Reality RetailAugmenting Reality Retail ProjectionProjection
Moving screens, thinking picturesMoving screens, thinking pictures
Multi-screen coordinationMulti-screen coordination
Projection on non-uniform objectsProjection on non-uniform objects
3D and Holographic projection3D and Holographic projection
SelectionSelection
Object, face, and voice recognitionObject, face, and voice recognition
User generated and Dynamic contentUser generated and Dynamic content
Preference configurationPreference configuration
User selectable promotionUser selectable promotion
Avatar shopping buddyAvatar shopping buddy
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ChallengesChallenges
Programming model is needed, notProgramming model is needed, not
just repurposing content fromjust repurposing content from
Broadcast TV. The content needs toBroadcast TV. The content needs to
be situational.be situational.
Interaction model is needed to studyInteraction model is needed to study
the consumer behavior to shiftingthe consumer behavior to shifting
retail spacesretail spaces
Need analytics to enhance promotionalNeed analytics to enhance promotional
and targeting campaignand targeting campaign
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SummarySummary
Emerging market with huge potentialEmerging market with huge potential
OpportunitiesOpportunities
New business models for Ads/PromotionsNew business models for Ads/Promotions
Media design challengesMedia design challenges
Needs business savvy creative talentNeeds business savvy creative talent
Innovative Technology productsInnovative Technology products
Major Research opportunityMajor Research opportunity
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ReferencesReferences
Strategy+business Issue 53 2008 Major Media in the Shopping Aisle, M. Egol and C.Strategy+business Issue 53 2008 Major Media in the Shopping Aisle, M. Egol and C.VollmerVollmer
http://www.retailcustomerexperience.comhttp://www.retailcustomerexperience.com
http://www.digitalsignagetoday.comhttp://www.digitalsignagetoday.com
http://www.cisco.com/web/strategy/docs/retail/In_store_Media_BR.pdfhttp://www.cisco.com/web/strategy/docs/retail/In_store_Media_BR.pdf
http://www.prn.com/homeelectronicsnetwork.html?prev=nav2http://www.prn.com/homeelectronicsnetwork.html?prev=nav2
http://www.retailcustomerexperience.com/http://www.retailcustomerexperience.com/http://www.cisco.com/web/strategy/docs/retail/In_store_Media_BR.pdfhttp://www.cisco.com/web/strategy/docs/retail/In_store_Media_BR.pdfhttp://www.cisco.com/web/strategy/docs/retail/In_store_Media_BR.pdfhttp://www.retailcustomerexperience.com/8/14/2019 Retail_TV
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ContactContact
Ray GarciaRay Garcia
Executive in ResidenceExecutive in Residence
Center for Future Banking at MITCenter for Future Banking at MIT
[email protected]@media.mit.edu