future trends e-retail industry
TRANSCRIPT
FUTURE TRENDSIN
E-RETAIL INDUSTRY
PRESENTED BY
DINESH DVARSHA DIVAKARN
E-RetailIndustry
RECENT TRENDS
IN E-RETAIL
INDUSTRY
Retailers adopt and experiment with
technology.
Mobile continue to grow in all directions.
Brands double down on Corporate Social
Responsibility.
COMMODITY SUBSCRIPTION OFEERS
Data is more accessible and powerfulMillennial continue to
heavily influence retail.
Companies found better ways to manage risk and
protect customers.
More retailers took control of their value chain and
improved order fulfillment.
Retargeting
Localization
Stores with Omni-channel strategies continue to thrive.
Social networks serve as shopping platforms.
Source: https://www.vendhq.com/university/retail-trends-and-predictions-2015
Flip k art S n ap d eal My n tra J ab o n g Amaz o n
50 65 52 50 35
50 35 48 50 65
2014-2015
Sales From Mobiles Total Sales
Flip k art S n ap d eal My n t ra J ab o n g Amaz o n
60 70 75 65 52
40 30 25 35 48
2015-2016
Sales From Mobiles Total Sales
Examples: Flipkart Goes App only from Sep’15 Myntra already went to App only Mode
SOCIAL MEDIA TV MAGAZINE0
10
20
30
40
50
60
70
51 5435
6445
26
2014 2015
GROWTH OF SOCIAL MEDIA
26
2118
17
614
1458
2225
37
1398
1834
18
AGE OF MOBILE APPS
Source: http://trak.in/tags/business/2015/01/15/mobile-shopping-account-ecommerce-sales/
Source: http://www.adweek.com/socialtimes/social-media-purchase-decisions/495780
RISK MITIGATION & MANAGEMENT
PAYMENTS:
SECURE CODE (ONE TIME PASSWORD) FOR TRANSACTION DONE THROUGH ONLINE
OWN PAYMENT PROCESSING SYSTEMS (TIE UP WITH BANKS)
USAGE OF FRAUD PREVENTION SYSTEMS( AVS, CVV & CID)
PAYMENT WALLETS
LOGISTICS:
RIGHT PRODUCT TO RIGHT PERSON
OWN WAREHOUSE (Flipkart & Amazon)OWN LOGISTICS (Flipkart- Ekart, Fabfurnish-Fabone, First Cry- Expressbees, Amazon Tie Up with FedEx)
e-retailers has taken sole responsibility in selecting or choosing the logistics in which the seller has to dispatch the product.
VALUE CHAIN
FASTER DELIVERY OPTIONS (Next day delivery by Flipkart)- RIGHT PRODUCT AT RIGHT TIME
ON THE GO RETAIL (Pop ups & Food Trucks)
SELF SERVICE CENTRES (Amazon Lockers)
MORE NUMBER OF WAREHOUSES FOR STORAGE (Local Retailers) BASED ON THE PIN CODES & CITIES RATING
FREE SHIPPING TO MINIMIZE UNNECESSARY CHARGE BACKS & FASTER RETURNS
The Following is the Customers View on the shipping time and delivery charge-
73
48
38 FREE DELIVERY
1-2 DAYS DELIVERY
RETURN LABEL
Source: WHITEPAPER SOCIAL TO SALE SURVEY
LOCALIZATION
GOING GLOBAL YET LOCALRIGHT DOMAIN EXTENSION FOR EASY BROWSING (Amazon.in for India & Amazon.com for USA)
ADAPTIVE SITE DESIGN TO FIT THE LOCAL MARKET PRODUCT PROFILE (Inches in USA,
Centimeters in India) LOCAL OFFICIAL LANGUAGE SOCIAL MEDIA LINKS FOR SPECIFIC
COUNTRIES (Sina Weibo- China, Facebook- India, USA & VK in Russia)
GRAPHICAL & VISUAL INTERFACE OF THE WEBITE( Japanese like more live background sites, Chinese like red coloured sites etc.)
CUSTOMER CARE SUPPORT IN LOCAL LANGUAGES
ORDER CONFIRMATION & ORDER STATUS UPDATE IN LOCAL LANGUAGE
RETARGETING
CART- Reminding the Visitors who have added products in the cart and has not completed the transaction. Giving them offers or discount coupons.
PRODUCT-Target people who’ve checked out a product page with more info and competitive messaging to transform interested comparison shoppers into buyers.
CONVERSION- Once a Customer completes the transaction, making sure that the customer is not getting the suggestions related to the product purchased.
TECHNOLOGY
POINT OF SALE TECHNOLOGY- Cloud based point of sale systems have proven that they can outperform old-fashioned registers in all aspects and an increasing number of retailers will recognize this and make the switch.
BEACONS-The technology, which provides in-store analytics and marketing solutions for brick-and-mortar retailers, has already generated results for several merchants
AUGMENTED REALITY-From virtual fitting rooms to interactive window displays, merchants are continuously finding ways to use augmented reality to draw attention and improve experiences.
3D PRINTING-Some merchants, including online jewelry store Brilliance.com, have already found a use for the technology.
BIG DATA & ANALYTICS
PRICING ANALYTICS- Pricing Trends of the Competitors.
WEB EXPERIENCE ANALYTICS – Shopping Cart Defection and consumers website behavior.
CHANNEL, SUPPLY CHAINS & OPERATIONS ANALYTICS
CONSUMER SENTIMENT ANALYTICS- Localization of the product ( People in China consider red as symbol of luck and buy more products in that colour and also consider “4” as an unlucky number).
MARKET BASKET ANALYTICS- Layering onto the traditional model of matching products that are often bought together, fast analytics can bring in more depth of insight( Eg- Combos-Flipkart, “Often Bought this together”-Amazon)
AGE OF MILLENNIALS OMNICHANNEL
9
5928
13 3
HAS BROWSED ONLINE
9
63
30
10 3
HAS BOUGHT ONLINE
CORPORATE SOCIAL RESPONSIBILITY
87%
13%
87% percent of global consumers factor in CSR into their purchase decisions.
EXAMPLES:EBay- EBay Trust for Joy Of Giving WeekBookMyShow- Re.1 / Ticket Transaction For educationAmazon- Adoption of Three Vibha Projects.
SUBSCRIPTION
PERIODICAL DELIVERY OF PRODUCTSEXAMPLES: Groceries- Mantry Beauty Products- Birchbox Apparels- Stitch Fix
PRECRIBED OFEERS FOR SUBSCRIBERS: Flipkart First Amazon Prime
Source: NIELSEN GLOBAL E-COMMERSE REPORT
Source: CONE COMMUNICATIONS & ECO-RESEARCH SURVEY
THANK YOU…..