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However, HomeTown also exists in an age which sees 2 additional dimensions:
• Desire to make your own home, with things as personalised as possible
• Retail is out, e-tail is in.
Hometown Wants To Sell More Than Just Furniture. It Wants To Give You A
Complete Home Solution.
So, the question posed is, In a time where everyone and everything is online, how does HomeTown redefine a saturated category?
We need to attract consumers, provide them relevant value, while still keeping an
eye on the bottom line.
Exploring Opportunities
Shift from collectivistic to individualistic society
This means that individuals are going
to leave behind the notion of joint families, and set up their nest earlier,
and on their own. This means more homes to
decorate!
Consumers today want personalisation.
They are spoilt for choice, and are fickle, so loyalty levels are low.
The TG is tech savvy.
This means that we need to actively involve the consumer, and
we need to move fast!
Virtual Reality, and Augmented Reality through Holograms are no more an idea of the future. The future is now!
This means that there are pieces of technology that by themselves may be irrelevant, but put together may
create some magic!
CONSUMER TRENDS
SOCIETAL TRENDS TECHNOLOGICAL
TRENDS
Reigning Trends
Category Characteristics
Based on:
An interview with an industry specialist
Seasonal trend is from July to October This period has 60% of the entire year’s sale Season from Independence Day sale, dhanteras and ends after Diwali
During this season, consumers get conscious about how their home looks Main categories: Soft furnishing and hard furnishing Majority of sales: Hard Furniture – sofa sets, beds, etc Bulk purchases are characteristic of this season
S p e a k i n g t o A n d I n t e r v i e w i n g H o m e O w n e r s Digital Audit of HomeTown In Depth research into VR/AR
The APAC region is the fastest-growing market because of the growing consumer market in
countries such as China, Japan, South Korea, and others.
The market is dominated by major players such as Google, Metaio, Oculus VR, Samsung, -CyberGlove Systems and Microsoft among others.
The Global AR Market
Is expected to reach
117.4BN by 2022, at a CAGR of
75.72% between 2016 to 2022 The Global VR Market
Is expected to reach
33.9BN by 2022, at a CAGR of
57.84% between 2016 to 2022
New want for their ‘own’ feel in terms of colour, size
They want to touch and feel only chairs, and sofas.
Beds are seen, but not touched, or sat on
as the mattresses are sold separately
Customers don’t listen to the
recommendations of the store
managers; Ulterior motive of
suggesting a brand PRIMARY RESEARCH
S T O R E S
Customers only want their own design
Unsold pieces
High warehouse costs, high
store rental costs
PRIMARY RESEARCH
Make a home,
even if its rented
C O N S U M E R S
Experience
matters
P e r s o n a l i s e d
Friends and family play
large role
Word of mouth is the strongest
influencer
Stores Complain: Customers go online to
shop
Consumers Complain: No nice options
Time taken at a store is
high
CONSUMER PAIN POINTS
What you see is not what
you may get
Customers complain they can’t see if two
purchases will match each other
“I can’t see if it will match my
home”
?
Connected Sociology, Technology, Anthropology, Psychology
This helps in forming a holistic solution by accessing
multiple points in the consumers life .
Experience over Technology. Customer experience was our prime motivation. Everything else was just
a tool to achieve that.
IDEATION
25-45 YO, Upper middle class, with DINK, DIOK, formats
Young married couples renting a flat and buying a few
things, People buying a house,
People redoing/refurnishing their entire house.
Female led category
Females have better aesthetic opinion and consider their home their identity
Starting point for newly married
couples
Consumer Characteristics
Based on:
Primary Research
Consumer Decision
Making Journey
S e a s o n a l a s p i r a t i o n s , Redoing home, S h i f t i n g a n d moving
TRIGGER
Future Group has covered consumer wants and needs in this category, either through acquisition, or development
NEEDS
We have ensured that our offerings trigger both store visits and home visits; both points of purchase in this c a t e g o r y h a v e b e e n touched
VISIT
Increased methods of evaluation for better consumer experience. Every point in our solution aids product comparison, and aided-comparison. SEO, SEM needs to be good so we can be present at
every point the consumer is
EVALUATE
Store representatives will enable and fuel purchase, while increasing attach rate. Further, t icket s izes are maximised by offering a lager, more relevant basket to choose from
BUY
We have enabled sharing on every device at our end, so it can reach every device on their end. Complete e n d - t o - e n d s h a r i n g f r o m HomeTown to Consumer. This will be further driven by marketing activities, shaped and refined by a communication idea
SHARE
SCENARIO PLANNING
N o M a p p i n g
VIRTUAL CATALOGUE
at Store
VIRTUALLY Customizable
at Store
Log of selection & changes with Store Attendant
Virtual selection Shareable with
Friends & Family
Easy to Use; Satisfied
Consumer
. . .
1.
Video Link 1: h#ps://youtu.be/iMeBxiUnwC0
SCENARIO PLANNING
M a p p i n g 2.
360 degree video of Room/House
Mapping of Room/House
VIRTUAL CATALOGUE
at Store Customizable to
fit into House Layout
Log of selection & changes
with Store Attendant
Virtual selection Shareable with
Friends & Family
Easy to Use; Satisfied
Consumer Video Link 2: h#ps://youtu.be/yHyTEPddjt8
As the number of items increase, or the complexity of the solution increases, or the ticket size increases, so to must the sophistication of the solution, and the customer experience be enhanced.
SCENARIO PLANNING
W e C o m e t o Y o u
Appointment & then we come to
you!
Holographic Furniture Fit
Data Stored through Data
Capturing Gloves Holographic selection, Virtually Shareable
with Friends & Family
Easy to Use; Satisfied
Consumer
3.
Video Link 3: h#ps://youtu.be/-‐q_MbOmNimA
Significant point of advantage: Salesmen can recommend more items on the basis of items at home and the décor, and increase ticket size
By combining these pieces of technology, we will be able to redefine the category for
consumers, and give them something no one else has.
TECHNOLOGICAL PROTOTYPE
Microsoft Holo Lens
This will provide a
b a s e f o r t h e
holographic features
Oculus VR
T o p r o v i d e t h e V R
experience in store, and to
customers at their homes
Eye tracking, Face tracking & Data
Capturing Gloves
To capture any motion the consumer
makes, right down to subtle body
language readings.
THE COST ASPECT Off the shelf Cost
$350
Basic components required to build and augmented
reality system: Camera
Small projector Smartphone
Mirror
Devices in Market with cost:
Google Holo Lens- $3000 Oculus Rift price: $599
Meta- $667-$3650
Laster SeeThru: $399
Online shop in virtual or augmented reality:
$15 000 – $25 000;
Data Capturing Gloves: $750; (VMG 30)
Trends and Technology alone doesn't make sense. It is only when things are
put together that they become usable and give value
Technology possible, but not yet being done large scale
Market will boom
Technology possible, but not yet being done large scale
Ecosystem being created slowly
First-mover advantage
Highly engaging
Easy to set differentiation
Brand strategy, communication strategy possible
Breaks clutter of the market
Simple to use technology, and easy to train staff
Lowers warehousing costs
Lowers store rent cost
Decreases unsold pieces & increases inventory turnover
What is DIFFERENT about this
idea?
Why could these ideas NOT work?
Not for those who seek quick cash
Will require long term planning to
execute
Recovery cycle for investments may
be long
Requires mettle and grit to enter
into
SCALABILITY
The B2B Market From the perspective of a B2B extension, this model is extremely sound.
Hotels:
If hotels can give us a mapped area of a room, we can provide solutions to them. Since
they have fixed room architecture, this will be easy to execute
Styles, colours, themes, models can be quickly seen, approved and purchased.
fin. fin