Are Retailers Meeting the Mobile Needs of Customers? Global Study Says No
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Presentation from Retail’s BIG Show, January 15-17, 2017. ANDREW FARRELL, Dir., Retail Industry Solutions, DMI JEREMY GILMAN, VP, Strategy, DMI
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Are Retailers Meeting the Mobile Needs of Customers? Global Study Says No
- 1. © 2016DMICONFIDENTIAL&PROPRIETARY ARE RETAILERS MEETING THE MOBILE NEEDS OF CUSTOMERS? GLOBAL STUDY SAYS NO ANDREW FARRELL, Dir., Retail Industry Solutions, DMI JEREMY GILMAN, VP, Strategy, DMI
- 2. © 2016DMICONFIDENTIAL&PROPRIETARY MANAGED MOBILITY SERVICES BIG DATA INSIGHTS UX & APP DEVELOPMENT BRAND & MARKETING OMNI-CHANNEL COMMERCE DIGITAL STRATEGY INTEGRATED APPROACH 2
- 3. © 2016DMICONFIDENTIAL&PROPRIETARY CHICAGO BOSTON NEW YORK WASHINGTON D.C. CINCINNATI SAN FRANCISCO PUNE CHENNAI LONDON NEW DELHI PHNOM PENH BARCELONA $330M REVENUE 1,800 EMPLOYEES 2002 ESTABLISHED GLOBAL FOOTPRINT PITTSBURGH 3
- 6. © 2016DMICONFIDENTIAL&PROPRIETARY A TALE OF TWO COMPANIES
- 7. © 2016DMICONFIDENTIAL&PROPRIETARY A TALE OF TWO COMPANIES 7 Retail organizations that only react to market disruption for adjusting consumer behavior are not optimizing implementation of emerging technology.
- 8. © 2016DMICONFIDENTIAL&PROPRIETARY A TALE OF TWO COMPANIES › $5 Billion › 8,000 retail stores › 60,000 employees › 43 million U.S. memberships 8 Retail organizations that only react to market disruption for adjusting consumer behavior are not optimizing implementation of emerging technology.
- 9. © 2016DMICONFIDENTIAL&PROPRIETARY A TALE OF TWO COMPANIES 9 Retail organizations who anticipate opportunities with adjusting consumer behavior may leverage emerging technology to exponentially increase profit and revenue.
- 10. © 2016DMICONFIDENTIAL&PROPRIETARY A TALE OF TWO COMPANIES Guests use bands instead of: › Tickets › Reservations › Guides › Photo pass › Cash › Room keys ROI from bands: › Additional purchases › Consumer behavior › Additional product sales of bands › Analysis of consumer preferences › Planning 10
- 11. © 2016DMICONFIDENTIAL&PROPRIETARY Jeremy Gilman January 15, 2017 | NRF ARE RETAILERS MEETING THE MOBILE NEEDS OF CUSTOMERS? Global Study Says No.
- 14. © 2016DMICONFIDENTIAL&PROPRIETARY Today, we can transform the experience for customers by better utilizing the millions of devices that walk into our stores everyday.
- 15. © 2016DMICONFIDENTIAL&PROPRIETARY THE IMPACT 89%IMPROVED BRAND PERCEPTION 85%INCREASED LIKELIHOOD TO BUY SOMETHING 88%MORE LIKELY TO SHOP AT YOUR STORE OVER COMPETITOR
- 16. © 2016DMICONFIDENTIAL&PROPRIETARY No one is doing this very well today. There is no roadmap.
- 17. © 2016DMICONFIDENTIAL&PROPRIETARY OUR APPROACH Research & benchmarking study to understand what shoppers want out of a mobile in-store experience today and how stores are performing.
- 18. © 2016DMICONFIDENTIAL&PROPRIETARY ■ What Shoppers Want On Mobile An Important New Audience Which Retailers Are Giving Customers What They Want (If Any) OUR FINDINGS
- 20. © 2016DMICONFIDENTIAL&PROPRIETARY Surveyed 5,000 Shoppers In USA & Europe
- 21. © 2016DMICONFIDENTIAL&PROPRIETARY PRICING INVENTORY PRODUCT REVIEWS & ADVICE PERSONALIZATION STORE GUIDANCE CHECKOUT & LOYALTY SIX KEY CATEGORIES
- 22. © 2016DMICONFIDENTIAL&PROPRIETARY 1SEE STORE SPECIFIC OFFERS & PROMOTIONS TOP 10 MOST-DESIRED MOBILE FEATURES 2SEE REWARDS BALANCE AT ANY TIME 3INSTANTLY CHECK AN ITEM’S PRICE AND INVENTORY VIA SCAN 4RECEIVE NOTIFICATION WHEN ITEM IS READY (I.E. RX) 5CHECK YOURSELF OUT 6VIEW ALL AVAILABLE INVENTORY AT SINGLE STORE 7SCAN ITEMS AS YOU SHOP 8USE DEVICE TO EARN REWARDS POINTS 9SAVE PAYMENT INFORMATION 10RESERVE INVENTORY VIA MOBILE PRIOR TO VISIT
- 23. © 2016DMICONFIDENTIAL&PROPRIETARY Save Time & Save Money
- 26. © 2016DMICONFIDENTIAL&PROPRIETARY Describe daily mobile usage as “a lot” or “all day” Use mobile device while shopping every time or regularly Have 3+ mobile shopping applications on device Made a purchase on mobile device in past 6 months 33% of survey respondents WHO ARE THE MOBILE RELIANTS?
- 27. © 2016DMICONFIDENTIAL&PROPRIETARY 1 45% MORE LIKELY TO BE 25-34 WHO ARE THE MOBILE RELIANTS? 2 50% MORE LIKELY TO EARN MORE THAN $150,000 3 20% MORE LIKELY TO BE PARENTS 4 17% MORE LIKELY TO USE AN APPLE DEVICE
- 28. © 2016DMICONFIDENTIAL&PROPRIETARY 80%GENERAL POPULATION 91%MOBILE RELIANT WOULD IMPROVE THE IN-STORE SHOPPING EXPERIENCE
- 29. © 2016DMICONFIDENTIAL&PROPRIETARY 77%GENERAL POPULATION 89%MOBILE RELIANT WOULD POSITIVELY IMPROVE A CUSTOMERS PERCEPTION
- 30. © 2016DMICONFIDENTIAL&PROPRIETARY 74%GENERAL POPULATION 88%MOBILE RELIANT MORE LIKELY TO SHOP AT YOUR STORE OVER COMPETITOR
- 31. © 2016DMICONFIDENTIAL&PROPRIETARY 70%GENERAL POPULATION 85%MOBILE RELIANT MORE LIKELY TO BUY SOMETHING WHEN VISITING
- 33. © 2016DMICONFIDENTIAL&PROPRIETARY Department stores and big box stores are leading the pack
- 34. © 2016DMICONFIDENTIAL&PROPRIETARY 1. Home Depot 2. Macy’s 3. Nordstrom 4. Walgreens 5. Sephora Lowes 6. CVS 7. Bloomingdale’s 8. Walmart 9. Kohl’s 10. TOP TEN RETAILERS - USA
- 35. © 2016DMICONFIDENTIAL&PROPRIETARY 1. Massimo Dutti 2. Leroy Merlin 3. Class Ohlson 4. Ikea 5. Migros Debenhams 6. Elgiganten 7. Dia 8. H&M 9. Mango 10. TOP TEN RETAILERS - EUROPE
- 36. © 2016DMICONFIDENTIAL&PROPRIETARY 20 AVERAGE SCORE 17OUT OF 100 OUT OF 100 USA EUROPE
- 37. © 2016DMICONFIDENTIAL&PROPRIETARY HIGHEST SCORE 51 42OUT OF 100 OUT OF 100 USA EUROPE
- 38. © 2016DMICONFIDENTIAL&PROPRIETARY AREA OF OPPORTUNITY PRICING INVENTORY PRODUCT REVIEWS & ADVICE PERSONALIZATION STORE GUIDANCE CHECKOUT & LOYALTY CUSTOMER DESIRABILITY AVERAGE CATEGORY SCORE High Low
- 40. © 2016DMICONFIDENTIAL&PROPRIETARY 88%MORE LIKELY TO SHOP AT YOUR STORE OVER COMPETITOR NOT USE MOBILE TO HELP CUSTOMERS 1. Save time 2. Save money IF YOU DO… OUR CONCLUSIONS
- 41. © 2016DMICONFIDENTIAL&PROPRIETARY THANK YOU JEREMY GILMAN VP Strategy, DMI jgilman@dminc.com
Editor's Notes
- Housekeeping
- And we know that retail executives like are you are beginning to feel this pressure and come to this conclusion on their own…
- YOU COULD BE AMAZON. No one is doing it well.
- Asked them about - who they are, demographics, technographics, how they use their devices, how they use it to shop, what they’re doing on their devices when they’re in-store. And we asked them what features are most important in the future - what do they want to be able to do on their devices. Here are some key insights on what they want to do.. And why it’s important to you
- When we asked customers what type of activities they want to be able to do on their mobile devices in-store to help them shop, the responses fell into 6 key categories.
- These are the activiites they’re doing on their devices to help them shop.
- Ultimately - they are using their device to help them save money and save time.
- Who do you think are these 33%?? How would you describe them.
- They cut across ages and incomes
- Frequency impact
- Loyalty impact
- Market Share Impact
- Use - data!!!
- Loyalty impact
- Loyalty impact
- Jeremy showed earlier how the industry is delivering on these challenges - but we also wanted to understand if the ten retailers who are performing at the highest level were closing the gap between what customers at all. You’ll see in some categories - yes that is true. Items that are easier to impelement from a technology standpoint - integrating your inventory are being delivered upon. However, items that involve a more complex integration - including personalization and store guidance are still being underdelivered upon.
- Have everything planned down to 2 minutes
- We see that the brick and mortar experience has hardly changed for hundreds of years… they need to do something differently in order to keep up with ecomm and to make that shopping experience better. We look at the benefits of online shopping and why people like the ecommerce experience - guided, personalized, convenient, information at their fingertips. Retailers think that mobile is simply another ecommerce platform - but we feel strongly that it should play another role in the in-store experience. We think that utilizing billions of devices that walk through the door of retailers every day - are they key to unlocking that better in-store shopping experience.