Cip Multichannel Retail Webcast 091112 (2)

Consumer & Industrial Products Practice
Webcast:
Multichannel Retail – More than Clicks and Bricks

October 4, 2012
1:00 pm – 2:30 pm CT

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Multichannel Retail Webcast Panel

Giles Sutton Lawrence Griff
Mark Sullivan
National Retail Audit Partner – New
National Retail
Tax Practice York
Practice Leader -
Leader – Dallas
Chicago

Jan
Danny Miller Hertzberg
Principal – Managing
Philadelphia Director –
Chicago

Objectives

•Learn about key trends in the multichannel retail environment

•Understand the evolving tax risks in relation to nexus, apportionment,
global retailing and third party relationships

•Determine the risks and benefits involved with using social media to
achieve business objectives

•Identify data security and fraud risks; the role of SOC 1, 2, 3 and PCI
compliance

•Discover best practices that leading retailers are employing


Agenda

1. Current multichannel retail trends
2. Tax nexus and related issues
3. Social media and its associated risks
4. Multichannel processes & controls
5. Data security & fraud risks


Agenda



1.0 Multichannel Retail Trends

Multichannel includes:
• Stores
• E-Commerce
• Mobile
• Social Media
• Couponing


1.2 Multichannel Retail Trends – e-Commerce Share


1.3 Multichannel Retail Trends – e-Commerce Growth


1.4 Multichannel Retail Trends - Mobile


1.5 Multichannel Retail Trends – “Showrooming”


1.1 Multichannel Retail Trends

• Retail websites deepen relationships with customers
• Smartphones change the retail experience
• Social media is becoming integral to the consumer
experience
• Internet coupons gain popularity
• Multichannel retailing gives rise to more third-party vendor
relationships
• Internet and mobile does not respect borders


Poll 1

Have you updated accounting and inventory systems,
processes and have them integrated to handle
multichannel retail transactions?

A. Yes, completely
B. Our systems and processes are updated, but not
integrated
C. Are systems are integrated, but need to be updated
D. Our systems and processes are not updated nor
are they integrated


Agenda



2.0 Tax Nexus and Related Issues

• Nexus Issues
• Apportionment
• Global Retailing
• Digital & Intangible Products


2.1 Remote seller nexus − "Amazon rule" and affiliate
nexus

Notes:
(1) Washington, D.C. has “remote-
vendor” collection requirement
for Internet sales that is
contingent on local SSTP-type
reforms being enacted;
(2) Penn. is based on administrative
authority, legislation has been
proposed;
(3) Vt. Amazon rule becomes
effective when at least 15 states
have adopted similar rule


2.2 Apportionment & Global Issues

Miami New York Madrid


2.3 Digital & Intangible Products


Poll 2

Have you considered the financial impact that state tax
law changes will have on your business?
A. Yes
B. Somewhat
C. No


Agenda



Poll 3

Have you successfully integrated social media into your
organization's business plan?

A. Yes, we have implemented a social media policy and have
been engaging customers
B. We are currently working on the best way to leverage
social media
C. We have not yet integrated social media fully into our
business plan, however, it is one of our goals
D. Social media isn't something that fits with our
business plans

Agenda



3.0 Multichannel Process & Control Drivers

Opportunities
• Increasing online consumer activity and purchases
• Mobile customers
• Mobile POS
• Expanding reach
• Changing to a showroom model
• Enhancing customer service
• Providing educational online content
• Gathering market intelligence
• Wi-fi in Stores

3.1 Process & Control Challenges & Risks

Challenges and risks
• Managing interactions and transactions across channels
• Adapting performance metrics
• Responding to in-store comparison shopping
• Data security and fraud risks (next section)


3.7 Third Party Relationships

Opportunities Challenges and risks
• Tap into third-party • Data security
expertise • Service reliability
• Speed to market • Impact of third-party
• Scalability errors or failures
• Potential cost savings • Contractual compliance


Poll 4

Do your contracts with third-party vendors clearly
stipulate tax responsibility?

A. Yes
B. Not clearly
C. No


Agenda



4.0 Data Security & Fraud

• Security highlights for retail enterprises
• Data security life cycle
• PCI in retail


4.1 Security Highlights in Retail

• Mobile applications
• Social Media
• Credit card processing
• Cloud computing
• In-store wi-fi
• Mobile POS
• Third parties


4.2 Data Security Lifecycle

1. Creation

6. Destroy 2. Storage

5. Archive 3. Use

4. Share


4.3 PCI

Accepting Mobile Payments with a Smartphone or Tablet


Poll 5

Are you exclusively using PCI-compliant applications and
processes to collect, transmit and store cardholder data?

A. Yes
B. Not sure if we are 100% PCI-compliant
C. No


Any questions?

Please type your questions or comments into the Q&A

Resources that can be accessed at
www.GrantThornton.com

• Multichannel retail: More than clicks and bricks (white
paper)
• Gift cards: Opportunities and issues for retailers (white
paper)
• 6 Steps to Secure Big Data (podcast)
• Social media and its associated risks (white paper)
• Merchant card and third-party payment network transaction
reporting requirements (white paper)


Cip Multichannel Retail Webcast 091112 (2)

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