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TRANSCRIPT
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Marketplaces & Innovation Trends
Industry & Standards event 2020
Darren Edels & Kevin Stark
2 December 2020
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© GS1 2020
Anti-trust caution
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entirety: http://www.gs1.org/gs1-anti-trust-caution.
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http://www.gs1.org/gs1-anti-trust-caution
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Darren Edels
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Director Marketplaces EngagementGS1 Global Office
Past roles:
eBay: Head of Partnerships, UK & EU
Volo Commerce: Senior Manager Partner ServicesHead of Implementations and Training
Unibooks4u.com: Founder and CEO
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Sr. Director InnovationGS1 Global Office
Past roles:
NineSigma: 15+ years leading Open Innovation and Crowdsourcing Consulting services
Goodrich: R&D Aerospace Sensor Design (MEMS)
3 (mostly useless) degrees in Electrical Engineering
Kevin Stark
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https://www.linkedin.com/pulse/reflections-20-years-innovation-kevin-stark/
https://www.linkedin.com/pulse/reflections-20-years-innovation-kevin-stark/
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Topics for today
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Innovation TrendsMarketplace Introduction
Marketplace Program Update
Polls & Q&A!
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Poll 1 (anonymous):
How well was industry prepared for the disruptions of 2020?
(5) Great – digital strategy investments paid off big time!
(4) (3) Ok – experienced some disruption, but adapted pretty well(2)(1) OMG this was AWFUL…we’ve all had a hard time this year…
[Select only one answer]
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5.66.4
7.28
8.89.7
10.711.8
13.214.4
16
33
0
5
10
15
20
25
30
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Years of digital transformation…in weeks
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2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Q2-20
10 years’ growth
in 3 months
Source: McKinsey
E-commerce as a % of
total US retail sales2009 - 2020
https://www.mckinsey.com/business-functions/marketing-and-sales/solutions/periscope/our-insights/surveys/reinventing-retail
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Winner: Online Grocery
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Source: Google Trends
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10
20
30
40
50
60
70
80
90
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12/1/2019 1/1/2020 2/1/2020 3/1/2020 4/1/2020 5/1/2020 6/1/2020 7/1/2020 8/1/2020 9/1/2020 10/1/2020 11/1/2020 12/1/2020
online grocery grocery pickup grocery delivery Indexed Google Search Volume
for Grocery Delivery Terms
(fast moving consumer goods)
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Other trends from 2020
> 50% +of consumers have placed a higher
importance on locally sourced foods
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60% + of global consumers
changed their
shopping behaviour
50% +of Gen Z and Millennial
consumers will pay more for
sustainable products
Online grocery sales grow 33% in 2020 as shopping habits shift permanently
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McKinsey – plenary from yesterday - Jessica Moulton
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McKinsey – plenary from yesterday
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got-us-here-wont-get-us-there-a-new-model-for-the-consumer-goods-industry
https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/what-got-us-here-wont-get-us-there-a-new-model-for-the-consumer-goods-industry
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2020: Impact of COVID
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5years
46%American
59%European
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Amazon’s fastest growing markets during the pandemic
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Phenomenal growth
1 700 000 000 000 000 000 BytesAlibaba’s technology infrastructure
+++hiring workers in the wider Marketplace space
Alibaba’s November Singles Day festival GMV surpassed
US$ 74 Billion
25-30%sale surge, during Covid-19 pandemic, for most of the major marketplaces
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Poll 2 (anonymous):
How engaged are you with the Marketplace community [platforms, integrators, solution providers]?
1) We’re an MO, and we have dedicated (full or part time) people working with the Marketplace ecosystem //OR// I’m in Industry and we have a dedicated Marketplace strategy and people in place
2) We don’t have dedicated people working on this, but we’re doing a lot of work on “online retail”
3) We plan to add capabilities in the next 1-3 years4) Still figuring it out! (that’s why we’re here today!)
[Select all answers that apply]
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What is a Marketplace?
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What is a Marketplace?
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Marketplaces are technology platforms, who do not own any inventory, that connect sellers and consumers by creating an ecosystem that facilitates transactions between them.
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A retailer versus Marketplaces
Retailers
• Retailers own the inventory they sell.
• They sell products online and in store.
Marketplaces
• Marketplaces don’t own inventory. They match buyers and sellers.
• Online Marketplaces are platforms that facilitate shopping from multiple sources.
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Marketplace composition and commissions
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• A typical Marketplace provides:
- An online account
- Digital catalogue of products and services
- Catalogue search engine
- Feedback / review mechanism to rate
sellers and products
- Shopping cart and payment gateway
- Customer support
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The endless aisle of digital shelves
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Marketplace ecosystem engagement: The journey so far…
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GS1 Global Marketplaces Strategy:Our journey
Listened to stakeholders online and in person –
Marketplaces / Integrators / Sellers
10GS1 Member Organisationsand Global Office formedthe Marketplaces Team
20voice of the marketcustomer statementscaptured
2020 GS1 Global Marketplaces Strategy approved - recommendations prioritised
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GS1 Global Marketplaces Strategy:Focus areas
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Brand Development
& Education
(Market positioning)
Industry Engagement(Marketplace Advisory Team)
Solution Development
(Data requirements, Verified by GS1
& local services)
GS1 Business
Transformation
(Our people, governance,
membership)
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GS1 M
ark
etp
laces E
ngagem
ent
Kit
Bookmark me nowhttp://mozone.gs1.org/
marketplace-engagement-kit-
overview/
http://mozone.gs1.org/marketplace-engagement-kit-overview/
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GS1 Marketplace Advisory Team
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• GS1 Marketplace Advisory Team brings together a global community of Marketplace stakeholders for open collaboration and to advise the Marketplace programme team
• GS1’s objective is to serve the Marketplace sector and ensure a better consumer experience
• Work program is currently under development with high level “Pillars” of work identified
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Bringing value to the Marketplace community
Marketplaces
• GTINs better enable catalogue quality and reduce duplication meaning an improved buyer experience, and the potential for less returns
• Verifiable GTINs reduce the risk of counterfeit as Marketplaces can verify to whom the product is attributed
Integrators
• Helping customers (sellers) understand Marketplace product identification requirements
• Access to tools and services to verify customers’ data before listing on Marketplaces ensuring a faster and smoother listing process
Sellers
• Higher rates of purchase conversion when GTINs are provided
• Product feeds with GTINs are eligible for Googleshopping ads and organic search
• GTINs enable the connection of all product information, photos, videos, consumer reviews
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2021: Looking to the future…
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• GS1 Global Marketplaces Strategy –continue to implement recommendations
• Expand Marketplaces Engagement Kit • Stakeholder engagement guides• Training for Sellers
• Launch Marketplaces MO Interest Group
• Grow Marketplace Advisory Team
• Prepare for Global Forum 2021
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Poll 3: What are the biggest challenges in the move towards the “digitalisation of everything”?
1) Innovation is moving too fast…and it’s becoming harder to pilot, test, measure and adapt quickly enough
2) IT infrastructure…connecting systems together to solve new problems is hard, takes too long and is always too expensive
3) Too much data…and not enough information4) Engaging consumers is more difficult in a fragmented world5) Lack of internal alignment on our “digital transformation”6) It is ALL hard!
[Select top 3 answers]
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Empowered consumers
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Mass customisation
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Voice recognition
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GS1 Trend Research
https://www.gs1.org/docs/innovation/GS1-Trend-Research-2nd-edition-101320.pdf
https://www.gs1.org/docs/innovation/GS1-Trend-Research-2nd-edition-101320.pdf
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Marketplaces & Innovation: Take action and get involved
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Industry: Engage with your local GS1 Member Organisation
Everyone: Download the GS1 Trend Research Report 2020/21
GS1 MOs: Use the Marketplaces Engagement Kit in your MO:
• Assess your MO’s readiness with the Readiness Checklist
• Review the value proposition for each Marketplace stakeholder
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Questions?
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Thank you!
Darren Edels [email protected]
Kevin Stark [email protected]
www.gs1.org
mailto:[email protected]:[email protected]