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The future of shopping

Presentation for the course 'Introduction to consumer behaviour'

Eva Kovacs

on 15 April 2013

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Transcript of The future of shopping

E-commerce sales Digital vs. Physical 0 + - = 9 8 7 1 2 3 4 5 6 c 1.Target specific customers Home Plus (Korea) - Tesco (UK) II. The experience of shopping Jordan's Furniture (USA):
IMAX 3D Theater
Trapeze School
Water Show
LITE (Laser Imagination Theater Experience) Where we started? Omnichannel retailing interacting with costumers through
countless channels Advantages of Digital Rich product information

Customer reviews and tips

Social engagement and two-way dialogue

Broadest selection

Convenient & fast checkout

Price comparison & special deals

Anything, anytime, anywhere Advantages of Physical Shopping: event & experience

Test, try on, experience products

Personal help

Convenient returns

Instant access to products

Help with initial setup or ongoing repairs

Instant gratification for all senses Reaction of retailers Factors holding traditional retailers back
real collaboration with digital operations is rare

digital retailing↔ threatens existing store economics, measurement systems and incentives

wrong financial metric: profit margins;
ex. Amazon:
smaller margins but faster inventory turns + no physical store assets = average ROI more than double!
& much bigger market value The future of shopping total retail sales:
US: 9%
UK: 10%
Asia-Pacific: 3%
Latin America: 2%

globally: 15-20%

ROI (average):
Amazon: 17%
traditional stores: 6,5% by Darrell Rigby
Harvard Business Review E-commerce today physical stores kiosks direct mail and catalogs websites call centers social media mobil devices gaming consoles televisions networked appliences home services BUT:
customers want all of it! Cut labour
Reduce costs
Fewer services Solution:
Bringing physical and digital retailing together! Future? Thank you for your attention! Éva Kovács
Omar Al Ashraf
Tobias Mészáros
Full transcript