round table future of fast fashion in china by equancy
TRANSCRIPT
FAST FASHION RETAIL IN CHINA HOW FAST FASHION RETAIL STORES CAN ADAPT TO THE ONGOING CHANGES IN CHINA ?
FAST FASHION DISRUPTION CONTEXT
GUEST SPEAKER INTERVENTION
BREAKFAST SOCIALIZATION
2
1. RESHAPING OFFLINE NETWORK BUSINESS MODEL 2. INTEGRATING DIGITAL TO YOUR CONSUMER JOURNEY 3. USING DATA TO IMPROVE OFFLINE EXPERIENCE 4. LEVERAGING COMMUNITY
STEPHANE TORCK : THE FUTURE OF FAST FASHION BRANDS
CO-IDENTIFY THE KEY CHALLENGES PRIORITIZE SET OF SOLUTIONS
DISCUSSION
AGENDA
FAST FASHION DISRUPTION CONTEXT
SHOW ROOMING &
BUSINESS MODEL
DIGITAL INTEGRATION &
CONSUMER JOURNEY
DATA &
CONSUMER EXPERIENCE
COMMUNITIES &
UBERISATION
HOW CAN OFFLINE BUSINESS MODEL BE RESHAPED ?
7
BETTER PRICE NO NEED TO TRY, TOUCH, FEEL
DELIVERY CONVENIENCE
CHALLENGES
---------
• Which offline business model can be SUSTAINABLE in a near future ?
• To which extent showroom can CREATE VALUE ?
• What to propose to consumer in-store as an EXTENSION OF THE SERVICES ?
ANYWHERE ANYTIME
COMPARABILITY WOM
CHINA
86% 68%
GLOBAL
SHOWROOMING IS THE NEW NORM
CHINESE CONSUMER SEE MORE BENEFITS FROM ONLINE
8
NEW TOUCHPOINTS ARE SEEING LIGHTS TO ADAPT OR GO OVER THE SHOWROOMING TREND
MAISON STANDARD & SEZANNE
GENERATING SALES THANKS TO POP-UP STORES OR UNEXPECTED LOCATIONS
LEROY MERLIN RETHINKING TRADITIONAL BUSINESS MODEL
MAISON STANDARD Having one showroom stores & pop-
up stores appearing randomly
SEZANNE Settling stores in unexpected
places to generate traffics
TechShop is the newly touch point of Leroy Merlin in which consumers can directly use the product sold by the retailer to craft their product along with experts
1. Subscribe for one year to Leroy Merlin Tech Shop 2. Craft your product using Leroy Merlin tools 3. Benefit from experts’ advise 4. Bring your crafted object back home 5. Possibility to buy the tools used once you have tested and used them
HOW CAN OFFLINE BUSINESS MODEL BE RESHAPED ?
Villages were designed in which you can buy product from decathlon shops and partner shops but also experience the products and benefit from sport lessons given by professional decathlon coaches
DECATHLON VILLAGE CREATING A NEW TO CONSUME SPORT GOODS
9
HOW ARE CHINESE USING DIGITAL IN-STORE ?
24%
11%
CHECK-IN AT THE STORE VIA SOCIAL
MEDIA
42%
25%
26%
12%
23%
13%
GLOBAL
HOW TO INTEGRATE DIGITAL SEAMLESSLY IN THE CONSUMER JOURNEY ?
CHALLENGES
---------
• How digital can be integrated to ANSWER CONSUMER NEED ?
• How to think CONSUMER CENTRIC & CONSUMER JOURNEY ?
• How to catch up with consumer on CROSS CHANNEL?
CHINA
CHINA
GLOBAL USED A
COUPON
RECEIVED A PROXIMITY
OFFER
SCAN IN-STORE QR
CODE
CHINA
CHINA
GLOBAL
GLOBAL
RESEARCH / DECISION SHOWROOM, WOM, ONLINE AND MOBILE RESEARCH, SOCIAL MEDIA
BUYING ONLINE PURCHASE
E-COMMERCE, M-COMMERCE
ADVOCACY SOCIAL MEDIA, WOM, WEBSITES
AFTER PURCHASE SOCIAL MEDIA, CALL CENTER, SHOPS
DELIVERY CONVENIENT & FAST
HOW TO INTEGRATE DIGITAL SEAMLESSLY IN THE CONSUMER JOURNEY ?
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• Request more items to try
• Product availability in store
• Get mix and match suggestion
METERSBONWE
ZARA A CONNECTED FITTING ROOM
ADIDAS
BEING A 24h OPENED SHOP THANKS TO PHYGITAL
1. iPad to show you unavailable items 2. Scan the clothes QR code to get all the information 3. Scan the clothes QR code to get mix and match suggestion 4. Pay online and be delivered
A touchable screen on windows to shop any time 1. Explore products 2. Scan a QR code displayed on a
digital shopping bag 3. Drag and drop the product you
want in it 4. Buy them later on your phone or
share them
SWEDISH SUPERMARKET A SHOP WITHOUT HAVING A SINGLE EMPLOYEE
1. Download an app which allows you to unlock the supermarket door
2. Scan your product 3. Pay via your mobile
HOW TO INTEGRATE DIGITAL SEAMLESSLY IN THE CONSUMER JOURNEY ?
USING DATA TO GIVE YOUR CONSUMERS PERSONALIZED EXPERIENCES
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58%
30%
28%
CHALLENGES
---------
• How to aggregate DATA OFFLINE ?
• How to develop the right ALGORITHMS ?
• Get all the MAXIMAL POTENTIAL from the DATA
CHINESE CONSUMERS ARE MORE WILLING TO SHARE THEIR PRIVATE INFORMATION WHEN THEY COULD GET BENEFIT IN RETURN
13
NORDSTROM
THIS RETAILER HAS SPENT MORE THAN 30% OF ITS BUDGET ON TECHNOLOGIES TO TRACK CONSUMERS ONLINE AND MOST OF ALL OFFLINE THANKS TO SENSOR, WIFI DEVICES
TRUE RELIGION ENHANCING RELATIONS BETWEEN CONSUMERS AND EMPLOYEES
Lately, True Religion equipped all its employees with an apple watch in Los Angeles & New York. This device allows employees to have information on consumers as soon as the latter walk into the store
USING DATA TO GIVE YOUR CONSUMERS PERSONALIZED EXPERIENCES
MOUMILK
AN ONLINE BRAND CREATED FOLLOWING ITS CONSUMER NEEDS
Mengniu used the big data from Alibaba e-commerce to design a brand new range of milk product based on its consumer needs :
• Origin • Fat • Size • Price • Perception
COMMUNITIES, A GROWING OPPORTUNITY
14
FOLLOW FAVORITE
BRANDS ONLINE
VIEW VIDEOS ABOUT THE
BRANDS
MOST OF CHINESE ARE WILLING TO INTERACT WITH A BRAND AND ITS CONSUMERS ON SOCIAL MEDIA
CHALLENGES
---------
• How to better UNDERSTAND COMMUNITIES ?
• How to CATCH /INTERACT with
communities ?
41%
21%
CHINA
USA
23% GLOBAL
23%
21%
CHINA
USA
21% GLOBAL
44%
34%
CHINA
USA
34% GLOBAL
COMMENTED ON PAST
EXPERIENCES
15
NORTHFACE IN MILAN AN EXPLORER COMMUNITY HUB FOCUSED DIGITAL INTERACTIONS
LE PUR
A BRAND CO-CREATED BY ITS CUSTOMER
YOHO FROM A MAGAZINE TO A COMMUNITY HUB
1. A video was launched on how they make yogurt to engage some customer and to invite them to a test session
2. Tastes were chosen according to customers preferences
3. Book your yogurt on wechat and pick it up at the store or be delivered
Magazine for young urban, this company launched a e-commerce website on which you can : • Buy clothes • Follow opinion leader • Read articles related to
the community
Never Stop Exploring experience “Base camp” for weekend warriors and hard-core explorers to plan their next adventure by
• Humanizing the hard-core athlete • creating community boards • integrating localized design and hero product
placement
COMMUNITIES, A GROWING OPPORTUNITY
UBERISATION OF THE ECONOMY THROUGH COMMUNITIES & CONSUMERS
A DUAL FUTURE FOR FASHION RETAIL
• PRODUCT INNOVATION • PRODUCT TREND PREDICTABILITY • NO BRAND INVESTMENT (MKT,CRM) • VALUE PROPOSITION • FLEXIBILITY • CUSTOMISATION / PERSONALISATION
2. BRAND MINDED STRONG BRAND EQUITY AND ANSWERING CUSTOMER NEEDS
1. PRODUCT MINDED COMPANIES WITH A FOCUS ON PRODUCT
PREDICTABILITY FUNCTIONALITY ALL MOMENTS OF LIFE PRICES
BECOMING A PLATFORM FOR A COMMUNITY • 360C SERVICES UNDER THE SAME ROOF • ANSWER THE FULL SCOPE OF NEEDS • AGGREGATE BRANDS & OFFERS
FASHION MARKETPLACE MINIMALISM ATHLETES
FASHION PLAYERS
MORGAN BONNARD [email protected] +86 186 1633 2703
Room 9208, Building 9 25 Jian Guo Zhong Road Shanghai 200025, China 建国中路25号9号楼9208室 +86 21 6137 9211
For more information, please contact:
THANK YOU
MORGAN BONNARD [email protected] +86 186 1633 2703
Room 9208, Building 9 25 Jian Guo Zhong Road Shanghai 200025, China 建国中路25号9号楼9208室 +86 21 6137 9211
For more information, please contact:
THANK YOU