confessions of a shopaholic dx3 - mar 6,13 pdf
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Confessions of a Shopaholic: How Digital Connectivity has Changed the Shopper Presented at Dx3 Canada in Toronto ON, March 6th, 2013 The term “shopaholic” used to be associated with images of someone out of a Sophie Kinsella book parading through a mall overburdened by shopping bags and a desire to try on as many outfits as they could over a 9 hour period. Well, things have changed. Armed with pre-shop research, mobile intelligence, virtual dressing rooms and deal locators, the new shopaholic is a different kind of shopper.TRANSCRIPT
Confessions of a Shopaholic:How Digital Connectivity has
Changed the Shopper
Dx3 Canada – Toronto, ONMarch 6th, 2013
Presented by: Ian S. Cruickshank
FIRST A FEW STATS
WHAT HAS CHANGED?
Access to Data
Digital Commerce
EMFX-Commerce
Mobility
Social
Cloud
Cloud
The Cloud
“The computer industry is the only industry that is more fashion-driven than women's fashion.
Maybe I'm an idiot, but I have no idea what anyone is talking about.
What is it? It's complete gibberish. It's insane. When is this idiocy going to stop?”
Larry Ellison, CEO Oracle Corporation
A LITTLE CONSUMER BEHAVIOUR
Time Spent Online
Changing Habits
Traditional Purchase Funnel
Purchase Decision Process
The Loyalty Loop
Harvard Business Review - 2010David Edelman - McKinsey & Co.
Information Overload
Omnichannel
The Digital Shopper
➜Better informed➜Savvy➜High Expectations ➜Busy➜Well Educated➜Online regularly➜Active in Social
The Digital Shopper
➜Affluent➜Loyal ➜Pre-qualified➜Pre-sold/Ready to
buy➜Spends more➜Likes shopping to
be easy
Shopper Expectations
➜Easily find products online
➜Product details➜Specifications➜Images➜Descriptions➜Objective reviews➜Stock availability
Shopper Expectations
SIMPLICITY
The Gap in thinking
Consumer reasons
61% Discount55% Purchase 53% Reviews
53% General Info 52% Exclusive Info
51% New product info49% Submit opinion
37% Customer service34% Event Participation
33% Feel Connected30% Submit product ideas22% Part of a Community
Our perceived reasons
New product info 73%General info 71%Submit opinion 69%Exclusive Info 68%Reviews 67%Feel connected 64%Customer service 63%Submit product ideas 63%Part of a community 61%Purchase 60%Discount 60%
The Gap in thinking
Consumer reasons
61% Discount55% Purchase 53% Reviews
53% General Info 52% Exclusive Info
51% New product info49% Submit opinion
37% Customer service34% Event Participation
33% Feel Connected30% Submit product ideas22% Part of a Community
Our perceived reasons
New product info 73%General info 71%Submit opinion 69%Exclusive Info 68%Reviews 67%Feel connected 64%Customer service 63%Submit product ideas 63%Part of a community 61%Purchase 60%Discount 60%
PRICE Books Fashion Grocery
Prices often lower online 5 3 1
Digitized products create lower cost 5 1 1
Value of price comparison 5 3 2
SELECTIONValue of broad selection 5 4 3
Value of customization 2 3 1
Searches in stores often futile 4 3 2
How Digital is your Industry?
CONVINIENCE Books Fashion Grocery
Research and information intensity 5 3 2
Web tools trump store experience 4 2 2
Ease of delivery and returns 5 3 1
TRUSTReliability of product description 5 2 2
Frustration in stores 4 4 2Trust online retailers 5 3 1
How Digital is your Industry?
INDUSTRY TOTAL
Books 54
Fashion 34
Grocery 20
How Digital is your Industry?
So what about your business?
TOOLS TO WIN IN THE DIGITAL WORLD
The Must Have’s
➜SEO➜SEM➜Social➜Mobile➜eCommerce
Savvy as Online Shoppers
➜Launch an eCommerce website➜Make your site mobile-ready➜Publish you product feed to multiple
shopping engines ➜Measure Everything—Usage, Fans,
Engagement, Popularity➜Deliver exceptional service—It’s your
online reputation
Launch an eCommerce Site
➜Get your products online➜Keep it accurate & current➜Offer lots of product details➜Add user reviews➜Offer stock inventory details➜Enable microformats➜Offer online purchase,
offline pickup➜Run online-only promotions
Enable Microformats
Be Mobile Ready
➜Your site needs to work in Mobile
➜Don’t use flash or java
➜Focus on usability➜Must load quickly➜Integrate with
native functions (maps, phone, email)
Publish a Product Feed
➜A product feed is a file containing information about the product list on an e-commerce website➜Search Engines➜Affiliate Website➜Shopping
Comparison➜Marketplaces
Get Social
➜Listen ➜Plan ➜Build ➜Engage
➜Content ➜Contesting ➜Advertising
➜Drive Traffic➜Measure
A QUICK LOOK FORWARD
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