Ce diaporama a bien été signalé.
Le téléchargement de votre SlideShare est en cours. ×

Main takeaways from NRF 2019

Publicité
Publicité
Publicité
Publicité
Publicité
Publicité
Publicité
Publicité
Publicité
Publicité
Publicité
Publicité
Chargement dans…3
×

Consultez-les par la suite

1 sur 13 Publicité

Main takeaways from NRF 2019

Télécharger pour lire hors ligne

NRF 2019 has confirmed that online and offline experiences are becoming one, putting the consumer at the center of all retail practices. In this report, we decode the main takeaways from NRF 2019.
Discover what the Retail industry will look like in years to come!

NRF 2019 has confirmed that online and offline experiences are becoming one, putting the consumer at the center of all retail practices. In this report, we decode the main takeaways from NRF 2019.
Discover what the Retail industry will look like in years to come!

Publicité
Publicité

Plus De Contenu Connexe

Diaporamas pour vous (20)

Similaire à Main takeaways from NRF 2019 (20)

Publicité

Plus par Dassault Systemes (18)

Plus récents (20)

Publicité

Main takeaways from NRF 2019

  1. 1. MAIN TAKEAWAYS NRF 2019 decoded by Dassault Systèmes – CPG Home & Lifestyle Industry Experts
  2. 2. NRF 2019: NRF 2019 has confirmed that online and offline experiences become one, putting the consumer at the center of all retail practices. In this report, we decode the main takeaways from NRF 2019. Discover what the Retail industry will look like in years to come!
  3. 3. 64% Customers spend or invest more in products/services after an in-person appointment or live consultation PHYSICAL STORES ARE NOT DEAD, THEY ARE EVOLVING Context: Retailers need to keep or have their physical stores Why: Human-to-human interactions have a multiplier effect Solution: Stores are evolving to become more experiential Electronic shelf edge labels by Edge R&D Nike in-store pick- up station 1-3% Conversion from website vs Up to 50% Conversion in-store Source: BookingBug and Econsultancy’s Performance Benchmarks tool Source: The People (Still) Need People study conducted by BookingBug, 2018
  4. 4. In-store digital In-store live events In-store appointments Solution: Retailers must integrate in-store online/offline experiences STORES EVOLUTION MUST INCLUDE ONLINE-TO-OFFLINE STRATEGIES Context: Retailers are facing a digital-physical divide Connected sales associates In-store digital Only 6% of companies have confidence in their online-to-offline strategy Only 16% of customers think companies adequately integrate online/offline experiences Source: BookingBug’s NRF2019 presentation 25% increase in average revenues per buyer when consumer and associate share a screen Source: BRP Consulting 77% sales growth for retailers providing associates with mobile tools Source: Unified Commerce Landscape Report by IHL Group, 2017 49% of customers “extremely likely” 39% “somewhat likely” to buy from an informed associate Source: PwC and TimeTrade Source: BookingBug’s NRF2019 presentation
  5. 5. AI can enable Intelligent Automation of operations, answering 2 retail issues: Context: AI is creating a great divide between retailers who use it and those who don’t 1. Reduce costs 2. Reduce or eliminate routine and clerical tasks and allocate that time to clients RETAILERS MUST USE ARTIFICIAL INTELLIGENCE TO AUTOMATE OPERATIONS Retailers are investing in in-store robotics Eg : Bossa nova robot navigates the store aisles autonomously, scanning the shelves to figure out what's in stock and what's selling well Currently, 40% of retailers use intelligent automation. By 2021, 80% will. Source: The coming AI revolution in retail and consumer products global study, by the IBM Institute of Business Value and the NRF, 2019 AI will generate $2.9 TRILLIONin business value by 2021 Source: Gartner predictions (Forbes) AI-driven companies will take $1.2 TRILLION from competitors by 2020 Source: Predictions 2017: Artificial Intelligence Will Drive The Insights Revolution report by Forrester, 2016
  6. 6. Problem: Retailers are struggling to deliver adequate consumer experiences due to a data-action gap Impact: Improving consumer experiences through AI is a priority to retailers Augmented Reality to “test-drive” merchandise Personalization booths RETAILERS MUST USE ARTIFICIAL INTELLIGENCE TO IMPROVE CONSUMER EXPERIENCE … ¾of companies are not able to act on most of the data they collect due to disjointed systems and data integration issues Source: Research from Harvard Business Review Analytics Services, sponsored by Salesforce, 2017 89% of marketers say they are personalizing experiences and messages Source: Evolve Now To Personalization 2.0: Individualization Forrester report; 2018 Only 5% of consumers say message offers are usually well-timed with their needs Source: Evolve Now To Personalization 2.0: Individualization Forrester report; 2018 49% of retailers say improving consumer experience is a top business priorities for the next 12 months Source: Global Business Technographics® Priorities And Journey Survey, by Forrester 2018 Using AI for targeting can increase average campaign revenue by 79% Source: Tinyclues 100+ clients study (AccorHotels, Lacoste, Clarins, Club Med…), 2018 Using AI for targeting can increase average engagement by 51% Source: Tinyclues 100+ clients study (AccorHotels, Lacoste, Clarins, Club Med…), 2018
  7. 7. Context: Customers are more disloyal than before, making shopper loyalty more highly prized than ever Explanation: Loyalty is linked to customer experience Solution: Again, the key is to implement effective customer experiences … BECAUSE GOOD EXPERIENCE DRIVES CUSTOMER LOYALTY 76% of retailers stated that the importance of loyalty has increased Source: IDC Retail Insights, IDC Shopper/Consumer Survey, IDC, December 2017 17% of shoppers leave after one bad experience Source: Experience is everything: Here’s how to get it right report, PwC, 2018 59% of shoppers will leave after several bad experiences Source: Experience is everything: Here’s how to get it right report, PwC, 2018 63% of shoppers will share more information after a good experience Source: Experience is everything: Here’s how to get it right report, PwC, 2018 86% of buyers will pay more for a better customer experience Source: Customers 2020: A Progress Report, Walker, 2017 By 2020, customer experience will overtake price and product as the key brand differentiator Source: Customers 2020: A Progress Report, Walker, 2017
  8. 8. 8 3DS.COM/CATIA©DassaultSystèmes|ConfidentialInformation|2/18/2019|ref.:3DS_Document_2015 Context: 1. In grocery shopping, there is a huge opportunity to cash in on loyalty 2. Experience is crucial in grocery shopping 3. Digital grocery shopping trends are on the rise Sources: Retail Insights, IDC, 2017 and Next Generation Loyalty Study, Precima, 2018 National Retail Association’s 2017 State of the Industry Report; Restaurant Success in 2017 Industry Report,Toast US Grocery Benchmark Study, by Market Force Information, 2018 Statista 2019 FOCUS ON GROCERY RETAILING: LOYALTY AND CUSTOMER EXPERIENCES 79% of shoppers say they are loyal or very loyal to their primary grocery store 58% of shoppers prefer to grocery shop at a single store 7% of shoppers spend more than 90% of their weekly food budget at a single store 61% of consumers prefer eating out experiences versus buying items from the store 39% of adults want to eat at restaurants more often Restaurants' revenue up 5.3%in 2017 Click-and-collect up 3Xfor online grocery in past two years US Meal-Kit Delivery Market: 41% compound annual growth rate between 2016 and 2022 73% say technology improves their guest experience in grocery shopping
  9. 9. Good meal kits Good prepared meal options In-store cooking classes Good in-store eating options FOCUS ON GROCERY RETAILING: LOYALTY AND CUSTOMER EXPERIENCES
  10. 10. Problem: Retailers need to improve their supply chain planning by digitalizing it Solution: Connected Planning Explanation: It’s a problem because planning is critically important to retailers RETAILERS MUST USE DIGITAL TRANSFORMATION TO OVERHAUL SUPPLY CHAIN PLANNING 86% of retailers say planning is critically important to managing costs Source: The State of Connected Planning 2018, Anaplan 79% say planning is critically important to enhancing revenues Source: The State of Connected Planning 2018, Anaplan 82% still use spreadsheets for planning Source: The State of Connected Planning 2018, Anaplan 37% of retailers would like to have technology that supports their planning needs Source: The State of Connected Planning 2018, Anaplan
  11. 11. THE SHARE OF DIGITALLY INFLUENCED SALES IS GROWING DRAMATICALLY TRANSPARENCY IS VERY IMPORTANT TO CUSTOMERS OTHER TAKEAWAYS +38% were more digitally influenced in 2016 than in 2010 (2020 estimate +57% compared to 2010) Source: The Cambridge Group analysis, based on eMarketer, Deloitte, Nielsen; Nielsen KoreaClick 2017 82% Millennials most likely to buy products after they watch demo videos Source: PickNwatch Consumers want sustainable, ethically-sourced products with 66% willing to pay more for sustainable goods, increasing to 73%when looking at Millennials Source: Global Survey of Corporate Social Responsibility and Sustainability, Nielsen, 2015
  12. 12. THE EVOLUTION OF RETAIL Discover the new challenges raised by the evolution of consumer expectations, in search of personalization and experience, in this whitepaper. Learn how to solve the resulting complex puzzle: reconcile back-end and front-end. Learn more about the « Anywhere. Anytime. Made for me » challenges. Download the Free Whitepaper
  13. 13. 13 3DS.COM/CATIA©DassaultSystèmes|ConfidentialInformation|2/18/2019|ref.:3DS_Document_2015

×