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Internet of Everything
13 January 2014
Cisco Consulting Services
4.0
13 Dec 13

© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

1
2014 Edition
Web-based survey
N = 1,174

Digital Shopping
Behavior Survey

Margin of error <3%
United States, Nov 2013
Representative of the US broadband
population by age, income, region

Source: Cisco Consulting Services, 2013
§  Growth in Connected Consumers:

IoE changing expectations on how we will shop

§  Trust Barrier for Personal Service:
Retailers must offer valued services to get customer private
information

§  Wake-up Call to Retailers: Brands that mash-up channels win
Consumers interest in new IoE Service concepts

© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

3
DIGITAL MASS

ÜBER-DIGITALS

80% 18%
Digital
Research
Browsing
Purchase
Median Age 40-44

Last Year 11%

Smartphone
Research
Browsing
Purchase
Median Age 30-34

Source: Cisco Consulting Services Primary Research, 2013
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

4
SEARCH
PC
In Store

BUY
In Store

DO IT NOW

US 2013
60%
39%

Online PC

Mobile

In Store
Online PC

32%

26% 86%

27%

33%

Mobile

INTERESTED

23%
22%

72%

66%

59%

56%

25% 84%

70%

54%

20% 92%

62%

20% 90%
24% 86%

Click ’n Collect

Kiosk

In Store

12%

35%

47%

28%

40% 68%

Source: Cisco Consulting Services, 2013
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

5
What are the three most important sources of information you use to help make buying decisions?
Online reviews retailer website

Friends and family

Online reviews expert sources

60%

Store employees

58%

Friends
family

52%
49%

44%

Online
reviews

42%
Online Friends
reviews family Online
experts

29%

Online
experts

Online
reviews

46%

43%

Friends
Online
family
experts

21%

Store
Assoc

15%

12%

Store
Assoc

Store
Assoc
2010

2012

2013

Source: Cisco Consulting Services, 2010-11-12-13, 2010: n = 1004; 2012: n = 1007; 2013: n = 1,174
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

6
Roughly 50% will research a $100 product – More than 75% research when more than $250

DIGITAL MASS

ÜBER-DIGITALS

80% 18%
87%
85%
76%
47%
25%
14%

>$500
<$500
<$250
<$100
<$50
<$10

86%
84%
80%
54%
28%
17%

Source: Cisco Consulting Services Primary Research, 2013, percentage responding “very likely” to research a product online
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

7
DIGITAL MASS

ÜBER-DIGITALS

81% 18%
32%
24%
51%
49%

I prefer to use my own device
I prefer to use store devices
I prefer to use a store app
I prefer to use a browser

51%
18%
64%
58%

Source: Cisco Consulting Services Primary Research, 2013
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

8
Digital Shoppers Want “Safe” Self-Service
DIGITAL MASS

ÜBER-DIGITALS

81% 18%
64%
22%
11%

I prefer to shop on my own,
but with help when I need it
I prefer to shop on my own
I prefer help from store employees
all the time

64%
19%
14%

Source: Cisco Consulting Services Primary Research, 2013
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

9
How have your expectations for shopping changed over the past two years

DIGITAL MASS

ÜBER-DIGITALS

80% 18%
71%
61%
58%
58%
50%

Better Values
Price Visibility
Wider Range
Information Access
Faster

79%
72%
72%
75%
64%

Source: Cisco Consulting Services Primary Research, 2013, percentage responding “very likely” to research a product online
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

10
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Cisco Public
Confidential

11
11
The Vast Value
of the Internet of Everything

Internet of
Everything
Retailing
Sense Know Act

North America Retail–Unrealized Value at Stake–2013

DATA FUSION
RIGHT TIME
HYPER-LOCALIZED

Source: Cisco Consulting Services, 2014; n = 1,174
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

12
Select up to three.

DIGITAL MASS

ÜBER-DIGITALS

80% 18%
46%
38%
30%
30%

Personalized promotions
via touch-screen or smartphone
Personalized products specifically for me
Personalized shopping lists
Personalized service

53%
47%
38%
34%

Source: Cisco Consulting Services Primary Research, 2014
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

13
What if retailers could…

DIGITAL MASS
CAPTURE DATA

ÜBER-DIGITALS
TO CREATE

Transactions OH inventory on order Improved in-stock

69% 27% 42%

44% 82%

35%

Past purchases store location OH inventory Personalized digital offers

77% 38%

39%

37%

37% 74%

Store traffic check queue No check-out lines

67% 26% 41%

43%

37% 80%

Smartphone in-store location In-store way-finding

57% 20% 37%

33%

38% 71%

APPEALING
VERY APPEALING
Source: Cisco Consulting Services, 2013
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

14
Financial
Hospitals
Physicians Institutions/
Banks

56%

However:

54%

Credit Card
Companies

47%

Government
Agencies

37%

How much would you trust
these companies-institutions
to protect your personal data
and use it to provide
something that you value?
Source: Cisco Consulting Services, 2014; n = 1,174, Percentage answering 7 and above on a 10-point scale 1=not trust at all 10=trust completely

National
Retail
Brands

31%
Internet
Companies

18%
DIGITAL MASS

ÜBER-DIGITALS

Past Purchasing History with This Brand

57%

59%
Basic Information About Me (name, age)

52%

56%
Likes and Dislikes (opt-in)

48%

49%
Information from Products I am Using

27%
TRUST CLIFF

30%

Past Purchasing History from Other Brands

24%

29%

TRUST CLIFF

My Location

20%

29%

Source: Cisco Consulting Services, 2013
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

16
DIGITAL MASS

ÜBER-DIGITALS

Time Spent in the Store

34%

47%
Location in the Store

35%

44%
Products You Try – but Don’t Buy

36%

43%
The QR Codes or Barcodes You Scan

27%
TRUST CLIFF

32%
Your Walking Path in the Store

26%

30%

TRUST CLIFF

None of the Above

25%

13%

Source: Cisco Consulting Services, 2013
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

17
Select up to three.

DIGITAL MASS

ÜBER-DIGITALS

Guaranteed Percentage Savings on Next Purchase

52%

51%
Specific Dollar Savings on My Next Purchase

52%

53%
World-Class Privacy Policy

31%

39%

Ability to Use Loyalty Points at More Than One Retailer

24%

27%

TRUST CLIFF Admission into A Club that Receives Priority Service

11%

18%

TRUST CLIFF

Admission into a Club that Receives Priority Offers

22%

27%

Source: Cisco Consulting Services, 2013
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

18
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Cisco Public
Confidential

19
Percentage responding frequently or always

1

2

3

BEST PERSONAL PRICE

MOBILE CONCIERGE

BEAT THE BUZZER

CONNECT THE DOTS

63%

42%

35%

34%

Opt-In. Smartphone. Scan.

Opt-In. Smartphone.

Gamification.

Gamification.

Calculates all your relevant offers,
coupons, loyalty points.

Greets, guides, provides.

At home or in store.

In-store. Smartphone.

Interest- and location-based
information, offers.

PC or smartphone.

Collect tokens or QR codes
throughout the store.

Your Personal Price. Now.

Your Retail Remote Control.

Special promotion now
in limited time.

4

Act now and win!.

Act now and win!
Source: Cisco Consulting Services, 2013 (U.S. data, n= 1,174), percentage responding frequently or always
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

20
Percentage responding frequently or always

1

2

3

BEST PERSONAL PRICE

MOBILE CONCIERGE

BEAT THE BUZZER

CONNECT THE DOTS

63%

42%

35%

34%

CONSUMER
ELECTRONICS

71%

CONSUMER
ELECTRONICS

47%

GROCERY

4

37%

CONSUMER
ELECTRONICS

37%

ÜBER-DIGITALS

82%

66%

56%

55%

Source: Cisco Consulting Services, 2013 (U.S. data, n= 1,174), percentage responding frequently or always
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

21
Percentage responding frequently or always

5

6

7

REMOTE CONSULTATION

ENDLESS AISLE

SOLUTION BUILDER

SOCIAL SHOPPING

31%

29%

29%

21%

Mobile or fixed screen.

Online or in-store.

Online or in-store.

Smartphone. Social.

One-click connect.

Fixed screen and smartphone.

Fixed screen or smartphone.

Post photos. Pin ideas.

No appointment.

See brand’s entire inventory
on desired SKUs.

Suggested project shopping lists.

Send to professionals, friends.

Recipes. Outfits.

Whaddaya think?

Talk to the brand’s best.
What, why and how.

8

Nearby stores. Dot-com.
Vendor.

Source: Cisco Consulting Services, 2013, percentage responding frequently or always
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

22
Percentage responding frequently or always

5

6

7

REMOTE CONSULTATION

ENDLESS AISLE

SOLUTION BUILDER

SOCIAL SHOPPING

31%

29%

29%

21%

HOME
IMPROVEMENT

39%

32%

APPAREL

HOME
IMPROVEMENT

8

33%

HOME
IMPROVEMENT

24%

ÜBER-DIGITALS

50%

50%

50%

43%

Source: Cisco Consulting Services, 2013, percentage responding frequently or always
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

23
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Cisco Public
Confidential

24
Growth in Connected Consumers:
IoE changing expectations on how we will shop
Wake-up Call to Retailers:
Brands that mash-up channels win
Trust Barrier for Personal Service:
Retailers must offer valued services to get customer private
information
Consumer appeal for seven new IoE in-store service concepts

© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

25
Digital Shopping Behavior in an Internet of Everything World
Here’s what I think every business should tell consumers
about their data collection programs
1

Exactly what data is being collected.
Many may assume that personally identifying
information is being collected

2

How the data collection technology works.
Boil the complex tech terms down into clear lay terms.
Once you know, is there a reason to fear “metadata?”

3

How the data is being secured
Show the steps you’re taking to prevent data
from being hacked or misused

4

Why the data is being collected
Show them the problems being solved,
the value being created

5
6
7
8

Michael Nadeau, Publisher,
September, 2013

How the data is being analyzed and reported
If it’s being analyzed in the aggregate, say so –
and explain what that means
Who is seeing the data.
People might assume that you share their data
with other businesses. Be clear about your policies
The consumer benefits of data collection.
Most important. Shoppers will provide personal
information if they feel they’re getting equal value in
return
It’s Opt-In
Give your shoppers the choice

Source: Data Informed, September 2013; Cisco Consulting Services, 2013
© 2013 Cisco and/or its affiliates. All rights reserved.

Cisco Confidential

27

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Digital Shopping Behavior in an Internet of Everything World

  • 1. Internet of Everything 13 January 2014 Cisco Consulting Services 4.0 13 Dec 13 © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 1
  • 2. 2014 Edition Web-based survey N = 1,174 Digital Shopping Behavior Survey Margin of error <3% United States, Nov 2013 Representative of the US broadband population by age, income, region Source: Cisco Consulting Services, 2013
  • 3. §  Growth in Connected Consumers: IoE changing expectations on how we will shop §  Trust Barrier for Personal Service: Retailers must offer valued services to get customer private information §  Wake-up Call to Retailers: Brands that mash-up channels win Consumers interest in new IoE Service concepts © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 3
  • 4. DIGITAL MASS ÜBER-DIGITALS 80% 18% Digital Research Browsing Purchase Median Age 40-44 Last Year 11% Smartphone Research Browsing Purchase Median Age 30-34 Source: Cisco Consulting Services Primary Research, 2013 © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 4
  • 5. SEARCH PC In Store BUY In Store DO IT NOW US 2013 60% 39% Online PC Mobile In Store Online PC 32% 26% 86% 27% 33% Mobile INTERESTED 23% 22% 72% 66% 59% 56% 25% 84% 70% 54% 20% 92% 62% 20% 90% 24% 86% Click ’n Collect Kiosk In Store 12% 35% 47% 28% 40% 68% Source: Cisco Consulting Services, 2013 © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 5
  • 6. What are the three most important sources of information you use to help make buying decisions? Online reviews retailer website Friends and family Online reviews expert sources 60% Store employees 58% Friends family 52% 49% 44% Online reviews 42% Online Friends reviews family Online experts 29% Online experts Online reviews 46% 43% Friends Online family experts 21% Store Assoc 15% 12% Store Assoc Store Assoc 2010 2012 2013 Source: Cisco Consulting Services, 2010-11-12-13, 2010: n = 1004; 2012: n = 1007; 2013: n = 1,174 © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 6
  • 7. Roughly 50% will research a $100 product – More than 75% research when more than $250 DIGITAL MASS ÜBER-DIGITALS 80% 18% 87% 85% 76% 47% 25% 14% >$500 <$500 <$250 <$100 <$50 <$10 86% 84% 80% 54% 28% 17% Source: Cisco Consulting Services Primary Research, 2013, percentage responding “very likely” to research a product online © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 7
  • 8. DIGITAL MASS ÜBER-DIGITALS 81% 18% 32% 24% 51% 49% I prefer to use my own device I prefer to use store devices I prefer to use a store app I prefer to use a browser 51% 18% 64% 58% Source: Cisco Consulting Services Primary Research, 2013 © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 8
  • 9. Digital Shoppers Want “Safe” Self-Service DIGITAL MASS ÜBER-DIGITALS 81% 18% 64% 22% 11% I prefer to shop on my own, but with help when I need it I prefer to shop on my own I prefer help from store employees all the time 64% 19% 14% Source: Cisco Consulting Services Primary Research, 2013 © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 9
  • 10. How have your expectations for shopping changed over the past two years DIGITAL MASS ÜBER-DIGITALS 80% 18% 71% 61% 58% 58% 50% Better Values Price Visibility Wider Range Information Access Faster 79% 72% 72% 75% 64% Source: Cisco Consulting Services Primary Research, 2013, percentage responding “very likely” to research a product online © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 10
  • 11. © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Cisco Public Confidential 11 11
  • 12. The Vast Value of the Internet of Everything Internet of Everything Retailing Sense Know Act North America Retail–Unrealized Value at Stake–2013 DATA FUSION RIGHT TIME HYPER-LOCALIZED Source: Cisco Consulting Services, 2014; n = 1,174 © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 12
  • 13. Select up to three. DIGITAL MASS ÜBER-DIGITALS 80% 18% 46% 38% 30% 30% Personalized promotions via touch-screen or smartphone Personalized products specifically for me Personalized shopping lists Personalized service 53% 47% 38% 34% Source: Cisco Consulting Services Primary Research, 2014 © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 13
  • 14. What if retailers could… DIGITAL MASS CAPTURE DATA ÜBER-DIGITALS TO CREATE Transactions OH inventory on order Improved in-stock 69% 27% 42% 44% 82% 35% Past purchases store location OH inventory Personalized digital offers 77% 38% 39% 37% 37% 74% Store traffic check queue No check-out lines 67% 26% 41% 43% 37% 80% Smartphone in-store location In-store way-finding 57% 20% 37% 33% 38% 71% APPEALING VERY APPEALING Source: Cisco Consulting Services, 2013 © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 14
  • 15. Financial Hospitals Physicians Institutions/ Banks 56% However: 54% Credit Card Companies 47% Government Agencies 37% How much would you trust these companies-institutions to protect your personal data and use it to provide something that you value? Source: Cisco Consulting Services, 2014; n = 1,174, Percentage answering 7 and above on a 10-point scale 1=not trust at all 10=trust completely National Retail Brands 31% Internet Companies 18%
  • 16. DIGITAL MASS ÜBER-DIGITALS Past Purchasing History with This Brand 57% 59% Basic Information About Me (name, age) 52% 56% Likes and Dislikes (opt-in) 48% 49% Information from Products I am Using 27% TRUST CLIFF 30% Past Purchasing History from Other Brands 24% 29% TRUST CLIFF My Location 20% 29% Source: Cisco Consulting Services, 2013 © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 16
  • 17. DIGITAL MASS ÜBER-DIGITALS Time Spent in the Store 34% 47% Location in the Store 35% 44% Products You Try – but Don’t Buy 36% 43% The QR Codes or Barcodes You Scan 27% TRUST CLIFF 32% Your Walking Path in the Store 26% 30% TRUST CLIFF None of the Above 25% 13% Source: Cisco Consulting Services, 2013 © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 17
  • 18. Select up to three. DIGITAL MASS ÜBER-DIGITALS Guaranteed Percentage Savings on Next Purchase 52% 51% Specific Dollar Savings on My Next Purchase 52% 53% World-Class Privacy Policy 31% 39% Ability to Use Loyalty Points at More Than One Retailer 24% 27% TRUST CLIFF Admission into A Club that Receives Priority Service 11% 18% TRUST CLIFF Admission into a Club that Receives Priority Offers 22% 27% Source: Cisco Consulting Services, 2013 © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 18
  • 19. © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Cisco Public Confidential 19
  • 20. Percentage responding frequently or always 1 2 3 BEST PERSONAL PRICE MOBILE CONCIERGE BEAT THE BUZZER CONNECT THE DOTS 63% 42% 35% 34% Opt-In. Smartphone. Scan. Opt-In. Smartphone. Gamification. Gamification. Calculates all your relevant offers, coupons, loyalty points. Greets, guides, provides. At home or in store. In-store. Smartphone. Interest- and location-based information, offers. PC or smartphone. Collect tokens or QR codes throughout the store. Your Personal Price. Now. Your Retail Remote Control. Special promotion now in limited time. 4 Act now and win!. Act now and win! Source: Cisco Consulting Services, 2013 (U.S. data, n= 1,174), percentage responding frequently or always © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 20
  • 21. Percentage responding frequently or always 1 2 3 BEST PERSONAL PRICE MOBILE CONCIERGE BEAT THE BUZZER CONNECT THE DOTS 63% 42% 35% 34% CONSUMER ELECTRONICS 71% CONSUMER ELECTRONICS 47% GROCERY 4 37% CONSUMER ELECTRONICS 37% ÜBER-DIGITALS 82% 66% 56% 55% Source: Cisco Consulting Services, 2013 (U.S. data, n= 1,174), percentage responding frequently or always © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 21
  • 22. Percentage responding frequently or always 5 6 7 REMOTE CONSULTATION ENDLESS AISLE SOLUTION BUILDER SOCIAL SHOPPING 31% 29% 29% 21% Mobile or fixed screen. Online or in-store. Online or in-store. Smartphone. Social. One-click connect. Fixed screen and smartphone. Fixed screen or smartphone. Post photos. Pin ideas. No appointment. See brand’s entire inventory on desired SKUs. Suggested project shopping lists. Send to professionals, friends. Recipes. Outfits. Whaddaya think? Talk to the brand’s best. What, why and how. 8 Nearby stores. Dot-com. Vendor. Source: Cisco Consulting Services, 2013, percentage responding frequently or always © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 22
  • 23. Percentage responding frequently or always 5 6 7 REMOTE CONSULTATION ENDLESS AISLE SOLUTION BUILDER SOCIAL SHOPPING 31% 29% 29% 21% HOME IMPROVEMENT 39% 32% APPAREL HOME IMPROVEMENT 8 33% HOME IMPROVEMENT 24% ÜBER-DIGITALS 50% 50% 50% 43% Source: Cisco Consulting Services, 2013, percentage responding frequently or always © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 23
  • 24. © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Cisco Public Confidential 24
  • 25. Growth in Connected Consumers: IoE changing expectations on how we will shop Wake-up Call to Retailers: Brands that mash-up channels win Trust Barrier for Personal Service: Retailers must offer valued services to get customer private information Consumer appeal for seven new IoE in-store service concepts © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 25
  • 27. Here’s what I think every business should tell consumers about their data collection programs 1 Exactly what data is being collected. Many may assume that personally identifying information is being collected 2 How the data collection technology works. Boil the complex tech terms down into clear lay terms. Once you know, is there a reason to fear “metadata?” 3 How the data is being secured Show the steps you’re taking to prevent data from being hacked or misused 4 Why the data is being collected Show them the problems being solved, the value being created 5 6 7 8 Michael Nadeau, Publisher, September, 2013 How the data is being analyzed and reported If it’s being analyzed in the aggregate, say so – and explain what that means Who is seeing the data. People might assume that you share their data with other businesses. Be clear about your policies The consumer benefits of data collection. Most important. Shoppers will provide personal information if they feel they’re getting equal value in return It’s Opt-In Give your shoppers the choice Source: Data Informed, September 2013; Cisco Consulting Services, 2013 © 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 27