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Final - Digital Transformation in Retail

Best practice approach
by

Jane Honey

on 9 August 2015

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Transcript of Final - Digital Transformation in Retail

Technology
Jane Honey
Digital leader - 20 years best in class digital delivery and strategy in multiple industries

Flagship global branded environments at scale

Journalist/content pedigree
Digital Transformation in Retail
Leverage digital platforms to create business advantages
Build next-generation products, services and ecosystems
Embed data (and analytics) into every area of the business to create efficiencies and a springboard for innovation


Digital Transformation
Why digital transformation matters
3 drivers of change
Providing certainty - 4 areas we can help
Innovation in practice
Summary
What is digital transformation?
Vision and Plan:
What it takes
- Vision clarity; 3-5 year view
- Competitor landscape, relevant case studies
- Cross industry learnings
- Trends analysis
- Stakeholder interviews
- As Is review including data analysis; celebrate success, identify areas of opportunity
- Business case, opportunity sizing
- Recommendations, roadmap, what it takes

Vision and Plan:
The aim
- Strategy core to organisation strategy, not as an isolated division or investment decision
- Change in business KPIs is key to tackle in store versus e-commerce; attribution of all areas of business in each sale
- Focus on sense of a journey, vision and persistence; rather than a complete 5-year plan (Angry Birds)

Talent
Talent: The aim
- Getting the right mix of skills and culture
- Employees 'intensely' using social and digital technologies to connect with each other, customers, partners and suppliers are 'more likely to be market leaders or to be gaining market share'
- Empowering employees - 'ideas from anywhere'
Drivers of digital change
by Jane Honey
Technology
Processes
Put data at the heart of core transactional, financial and supply chain processes
Agile just-in-time fulfilment models
Digital design and manufacturing collaboration
Summary - How all of this ties together

- Test and Learn framework
- Provide early evidence to build business case
- Mitigate risk by creating adaptation and optimisation approach
- Prototypes provide tangibility, compelling shortcuts
- Gives clues on the how and what
Vision and Plan: Approach
Digirati
Fashionistas
Conservatives
Beginners
Talent:
What it takes
- digital expertise at senior level
- digital training + immersion
Changing Paths to Purchase
Awareness
Consideration
Preference
Action
Loyalty
Traditional Path to Purchase
Multichannel Path to Purchase
A highly visible wholesale shift in the foundations of a business driven by digital change
consumer behaviour
technology
competition
of executives say achieving digital transformation will become critical for their organisation in the next two years
An opportunity to help
Explosion of purchase
touchpoints
in store
phone
direct mail
online
mobile + tablet
kiosk
game console
connected TV
watches + wearables
smart home devices
cars, offices
public spaces

- digital displays + signage
- digital triggers and predictive marketing
- smart trolleys
- navigation/ stock tools
- digital service + store avatars
- immersive experiences



- scan as you leave
- digital payment
- digital loyalty
Aisle
Payment
Fulfilment

- data-driven realtime
process digitisation
- dark stores
- driverless cars/drones
Competition
online only players
price transparency
immediacy
explosion of choice
bespoke/niche
customisation
Providing certainty
vision and plan
people
processes
technology
78%
of executives feel 'under pressure and vulnerable'
36%
Started in 1908 manufacturing rubber soled shoes
Continually showed innovative stripes - alignment with sports, celebrities, designers to become iconic brand
Surge in competition in 70s (Puma, Adidas, Nike, Reebok) - filed for bankruptcy in 2001
Nike purchased in 2003
Converse
Converse's
marble mistake
Strong innovation culture led to 22-day transformation of 100- year old operating model
Best in class
e-commerce
Seamless multichannel experience
Brand alignment + content marketing - sport, music

When Nike bought Converse annual sales were just $205 million
In 2014, in Q1 alone, sales hit $538 million
Primarily driven by 'direct to customer' shift from brand into retail, and digital investment
The sales story
Innovation
new territories and technologies
next generation products, adjacent markets
improvement,
optimisation, efficiencies

Social excellence
'Made by You' campaign - more then 1,000 posts in first day
Facebook - 3rd most popular branded page
Topical newsjacking
Skills
- digital people tools - productivity, collaboration, remote working,
work virtualisation, HR framework
Culture
- creative spaces/ location design to generate accidental meetings (Pixar)
- organisation design - Amazon's 2-pizza team structure
Tools
70
20
10
Digital transformation is an opportunity
Understanding the 3 drivers of change is critical
Important to tackle across the 4 disciplines to drive the most value
A strong brand essence needs to be at the heart of the journey

Converse create your own tool
Building personalisation into iconic brand
Full transcript