aimia future of digital - future of online retail
DESCRIPTION
Presentation from Tim O'Neill of digital agency Reactive at the AIMIA Future of Digital summit Dec 2009, on the topic of The Future of Online RetailTRANSCRIPT
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The Future of Online Retail
Tim O’NeillJoint Managing Director, Reactivewww.reactive.com
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ABOUT REACTIVE
• Independent digital agency with a focus on;– Web strategy, design & development– eCommerce– Social media
• Running for 12+ years• Melbourne, Sydney, London & Auckland
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The Global Threat
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“Australians spent $23b online in 2008, with estimated growth of 9% annually to $32b by 2012”
Forrester Research, 2009
But…
“…In 2005, Australian online shoppers reported making 86% of their total spend in Australia, but by December 2008 this had dropped to 57%...”
Australian Payments & Clearing Association, July 2009
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5
$0.00
$0.10
$0.20
$0.30
$0.40
$0.50
$0.60
$0.70
$0.80
$0.90
$1.00
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
$1 A
UD
= $
USD
Shar
e of
Vis
its to
Sho
ppin
g &
Cla
ssifi
eds
International Retail Websites
Local Retail Websites
Exchange Rate
Source: Experian Hitwise, October 2009 and www.rba.gov.au
INTERNATIONAL VS AUSTRALIAN ONLINE RETAIL
- Exchange Rate
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The Global ThreatSo, what is the…
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Social Shopping
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AUSSIES LOVE FACEBOOK
• Australians spend on average 8 hours/month on Facebook
• Australians spend more time on average per month using social media than any other country
• 8 million Aussies on Facebook
Nielsen Online, 2009
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Mobile Commerce
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• Still in it’s infancy in Australia
• Huge growth potential
• International retailers using m-commerce include; Ralph Lauren, Victoria’s Secret, Sears, Net-A-Porter and Galeries Lafayette
MOBILE COMMERCE
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• Barriers to buying on mobile devices;– Difficult to purchase with a credit-card
– Most B2C retailers don’t store credit-card details, or allow purchase ‘on account’
– Hence, a lack of compelling Australian m-commerce case studies
– But...
MOBILE COMMERCE - BARRIERS
91% of Australian online shoppers have purchased online with a credit card. 51% prefer this method.
Nielsen Australian Online Retail Monitor
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• Location-aware shopping
• Always on, always with you
• Vouchers saved on phone, used instore
• QR codes / Microsoft Tag
• Micro-payments within Applications
MOBILE COMMERCE – OTHER OPPORTUNITES
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Product Visualisation
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Retail Environments
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Personalised Experiences
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• Single view of the customer• Reserve online, pick up in store• Buy online, get customer service instore, • Call up and have someone be able to see your
online orders, etc.
MULTI-CHANNEL RETAILING
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DISCLAIMER… GET THE BASICS RIGHT FIRST!
• Product• Promotion• Conversion
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The Global [email protected]@timwoneillwww.reactive.com