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The Future of Retail

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Claire Robinson

on 24 September 2014

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Transcript of The Future of Retail

What does sports retail look like in 2020?
design by Dóri Sirály for Prezi
be omnichannel - providing a seamless interaction and experience

be innovative and consumer centric - quick to respond to the needs of the consumer

include brands and wholesale retailers with fewer traditional stores on the high street and more brand beacons in key cities

build single category temporary solutions to reach target audiences

gather and utilise deep consumer data to create personalised experiences and actionable store intelligence

measure success by share of relationships and engagement

Innovation and technology has had a positive impact on sports retail and the redefining of the consumer relationship

The rise of online stores, m-commerce & smartphone adoption

Single channel to Multichannel to Omnichannel retailing

The evolution of traditional high street retailing

What does the future hold?

Sports Retail Today

Fight for global retail dominance from Sports Direct, JD and Decathlon

Evolution of brands selling direct to market on a global level

WHS pressure - retailers driving own brand strategy leads to brands driving own retail strategy

Brands want control of what the consumer sees at retail - pure expression of the brand

Brands need to get closer to the sports consumer to gain insight, build relationships and loyalty

The consumer will always want choice and to shop for the best deal

Wholesalers need the top sports brands in their store

100% brand retail or wholesale retail strategy not an option

Brand Vs Retailer
Sports retail in 2020 will...

By 2016, 75% of the population will be using a Smartphone

By 2020, over a third of consumer purchases are expected to be made online

Search engines, social media/family/friends will continue to be key influencers of shopping behaviour - consumers like to find, like and share information

Consumers demand 24/7 accessibility, speed in response and consistent experience

Face to face service, interaction with products and brand atmosphere cannot be replaced online

The consumer is driving this change

A seamless omnichannel approach to the consumer experience

Create pure expressions of the brand tailored to consumer needs

Build excellent branded space areas in key locations in key wholesale doors

Retail on the move - create branded retail to reach new audiences

Maximise existing consumer data and gain further consumer insight to create a personalised experience wherever they are

Use digital techniques that connect with the consumer and provide transparency of information

Provide excellent 24/7 customer service

Keys to success in 2020..
Smartphone enabled environments
Claire Robinson
Full transcript