Asia Pacific is now the largest eCommerce region in the world. Retail eCommerce is growing year on year with more and more people opting for the convenience of online shopping.
In addition, Omni-channel is now a key strategy amongst top retailers in Asia with customers shopping online and offline across multiple touch points, channels, devices and journeys. There is a need for brands to create a truly personal Omni-channel customer experience to differentiate themselves and stay ahead while reaping the financial benefits of a holistic brand and retail experience.
Asia Pacific is now the largest eCommerce region in the world. Retail eCommerce is growing year on year with more and more people opting for the convenience of online shopping.
In addition, Omni-channel is now a key strategy amongst top retailers in Asia with customers shopping online and offline across multiple touch points, channels, devices and journeys. There is a need for brands to create a truly personal Omni-channel customer experience to differentiate themselves and stay ahead while reaping the financial benefits of a holistic brand and retail experience.
Creating a truly personalized Omni-channel customer experience
1.
Weaving through The Future of Retail
Creating a True Omni-Channel Customer Experience
2.
1. What is Omni Channel?
2. Why is it important to me as a brand/retailer?
3. How do I build an Omni-channel brand?
3 Key Questions for today
3.
What is Omni-channel?
https://www.youtube.com/watch?v=VsvwRfL8n04
4.
What is Omni-channel?
Omni-channel is a seamless unified experience across all
physical and digital channels
5.
The Evolution of Shopping
Omni-Channel
Multi-Channel
Single-Channel
Brands has a single touch point
which customers can interact with
Traditional Brick & Mortar
eCommerce Pure Play
Brand has multiple touch points
which customers interact with
independently
Customer experiences a unified brand across all
channels. Brand has a single customer view and is
able to provide a unifiedand seamless experience
6.
“Omni-Channel means our stores, website
and mobile devices are all working in unison
and seamlessly behind the scenes to the
benefit of the customer
What is Omni-channel?
7.
Why is Omni-Channel Important?
1. The rise of the connected consumer
2. Omni-channel brands are more profitable
8.
Why is Omni-Channel Important?
1. The rise of the connected consumer
2. Omni-channel brands are more profitable
10.
Connected Consumers shop anytime, anywhere and any device
11.
The new non-linear purchase journey
Source: Experian Marketing Forward Blog Sep 2015
Traditional purchase funnel Customer decision journey
12.
Shoppers in Asia: Preferred method of purchase
Source: UPS Pulse of an online shopper 2015
65% of shoppers in Asia prefer to
complete their purchases online
regardless of where they
researched the product (online, in-
store)
Remaining 35% need to touch, try
and feel the product which leads
them to visit/purchase in-store.
Consumers who researched in
store then purchase online cited
better prices and ability to do
additional research as top reasons
for buying online
But they access store information
online – from directions to store
hours, check inventory and even
reserve products prior to their visits
13.
Use of smartphone in store
Source: UPS Pulse of an online shopper 2015
1. 52% of consumers
compare prices on their
mobile while in store
2. 34% are looking for more
product details
3. 23% searched for an
alternative online seller
4. One in 5 customers have
placed an order on the
mobile phone while in
store
14.
Higher consumer expectations
Connections Choice Convenience Conversation
Omni-Channel
Consumers expect to
be able to connect to
brands anytime,
anywhere especially
on their
smartphones
Endless Aisle
Store based retailers
must connect their
virtual store shelf to
create a seamless
shopping experience
Adapted from Retail Customer Experience: Why retailers must excel in the 4Cs instead of just the 4Ps
Flexibility
Convenience and
flexibility of how they
purchase and receive
goods and services
1:1 dialogue
Consumers want a
conversation and to feel
connected with the brand.
Brands need to show that
you know and value the
consumer through
personalized interactions
and loyalty programs
15.
Why is Omni-Channel Important?
1. The rise of the connected consumer
2. Omni-channel brands are more profitable
16.
Asia Pacific is the centre of the world retail eCommerce market
1. E-Commerce sales in APAC will hit $877.61 billion in 2015 (35.7% increase from 2014)
2. APAC makes up 52.52% of worldwide eCommerce sales
Source: eMarketer Asia Pacific is home to majority of world retail eCommerce market Dec 2015
Retail eCommerce Sales in APAC and Worldwide (eMarketer Dec 2015)
17.
Asia Pacific is the centre of the world retail eCommerce market
1. eCommerce now accounts for 10.2% of all retail sales in APAC and projected to rise
steadily to 17.6% in 2018
Source: eMarketer Asia Pacific is home to majority of world retail eCommerce market Dec 2015
Retail eCommerce Sales as a Percentage of Total Retail Sales in APAC and Worldwide (eMarketer Dec 2015)
18.
Larger Basket Size
Omni-channel shoppers spend
15-30% more than traditional
shoppers
Source: DHL Trend Research: Omni-Channel Logistics 2015
19.
O2O plays a vital role in Omni-channel success
One out of 3 online shoppers in Asia have
opted to pick-up in store.
57% of them made additional purchases
during these trips.
Source: UPS Pulse of an online shopper 2015
20.
O2O nets higher revenue
Source: L2inc Omni-channel retail 2015
.95 cents -.23 cents +.18 cents
$1.07 -.23 cents +.30 cents
Buy Online and
Return In-Store
Net
Sale
Return
Loss
Additional
Purchase
Buy Online, Pick Up
and Return In-Store
Net
Sale
Return
Loss
Additional
Purchase
.77 cents -.23 cents
eCommerce
Pure Play
Net
Sale
Return
Loss
21.
Personalized Experiences increases spending
Omni Channel retailers who take the time to create personal messages that
really resonate with individual customers will drive 23% more spending
Source: Gallup State of the American Consumer
22.
Visibility on inventory drives store visits
71% of customers expect to view in-store
inventory online
61% of consumers are more likely to visit a
retailer's store if the online store provides
physical store inventory
Source: Forrester, Minding the Omni-channel Commerce Gap
23.
Greater ROI from higher Customer Lifetime Value
Omni Channel customers have 30% higher
lifetime value than single channel
shoppers
Source: IDC FutureScape Worldwide Retail 2015 predictons
25.
Businessvalue
Customer ExperienceTransactional Experiential
Stage 1: Online Experience
Stage 2: Offline Integration
Stage 3: Seamless Digital /
In-Store Experience
Stage 4: Real-time 1:1
interactions
Omni Channel Maturity Model
Adapted from richrelevance: The Omni-channel Personalization Maturity Model
26.
• Individual
experience on site
• Personalized
recommendations,
content &
promotions
Stage 1: Online Experience
Omni Channel Maturity Model
Businessvalue
Customer ExperienceTransactional Experiential
Adapted from richrelevance: The Omni-channel Personalization Maturity Model
28.
• Individual
experience on site
• Personalized
recommendations,
content &
promotions
Stage 1: Online Experience
• O2O with option to
collect / return in
store
• Integrated rewards
program
Stage 2: Offline Integration
Omni Channel Maturity Model
Businessvalue
Customer ExperienceTransactional Experiential
Adapted from richrelevance: The Omni-channel Personalization Maturity Model
29.
Stage 2: Offline Integration
• O2O – Pick up in store (ship to store or purchase based on available store inventory)
Pick up in any one of the 40+ stores
30.
Stage 2: Offline Integration
• Fairprice, the largest supermarket chain in Singapore has a Click&Collect service for online orders.
• Click&Collect is available at a nominal fee of S$3 (HK$17) instead of S$10 (HK$55) for delivery
• Number of collection points expanded from 7 to 22 locations in less than a year after launch
32.
• Individual
experience on site
• Personalized
recommendations,
content &
promotions
Businessvalue
Customer ExperienceTransactional Experiential
Stage 1: Online Experience
• O2O with option to
collect / return in
store
• Integrated rewards
program
Stage 2: Offline Integration
• Single customer
view
• Personalized multi-
device and channel
marketing using
web, mobile, POS
and location based
data
• In-store Digital
screen, kiosk or
tablet experience
Stage 3: Seamless Digital /
In-Store Experience
Omni Channel Maturity Model
Adapted from richrelevance: The Omni-channel Personalization Maturity Model
33.
Stage 3: Seamless digital / in-store experience
https://www.youtube.com/watch?v=-hVPjmM9iM4
34.
• Individual
experience on site
• Personalized
recommendations,
content &
promotions
Stage 1: Online Experience
• O2O with option to
collect / return in
store
• Integrated rewards
program
Stage 2: Offline Integration
• Single customer
view
• Personalized multi-
device and channel
marketing using
web, mobile, POS
and location based
data
• In-store Digital
screen, kiosk or
tablet experience
Stage 3: Seamless Digital /
In-Store Experience
Stage 4: Real-time 1:1
interactions
Omni Channel Maturity Model
• Predictive and
personalize catalogues
and recommendations
Businessvalue
Customer ExperienceTransactional Experiential
Adapted from richrelevance: The Omni-channel Personalization Maturity Model
36.
Omni-channel digital ecosystem
Personalized Omni-channel customer experience
Behavior, preferences, history, interactions
Omni-channel data
Omni-channel Touchpoints
eCommerce
Email
Mobile
Social
Web
Retail Store
Call center
POS
Marketing
Automation
CRM
ERP /
OMS / WMS
Sales
Customer Centric
Backoffice
Adapted from richrelevance: Building Omni Channel
37.
In Conclusion
1. An always connected consumer requires an omni-channel brand
2. Omni-channel brands enjoy a significant increase in sales and customer loyalty
3. Evaluate where you are and which stage you want to get to on the Omni-channel maturity
model
- What is the Omni-channel digital ecosystem you need?
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