mobility in retail - rapidvalue · mobility in retail . ... • to personalize the offers sent to...
TRANSCRIPT
Retail Industry : Changing Landscape – Why Go Mobile?
• Increased penetration of mobile – Increased need to focus on the mobile market.
• M-commerce growth is outpacing traditional E-commerce growth by 200%.
© RapidValue Solutions 2
Retail Industry - Challenges
• Are your customers “Showrooming?”
• Too many players in the market and less differentiation to incentivize customers to walk
into YOUR stores?
• Are your Sales force not equipped with product knowledge?
• Is there lack of customer buying behavior knowledge to help increase Basket size?
• Mobile can be used to get customers to the store and can help keep them there
© RapidValue Solutions 3
Retail Industry – Key Opportunities for Mobile
© RapidValue Solutions
“According to a 2012 Deloitte study, the conversion rate in the store for shoppers
who use a retailer’s dedicated app is 21% higher than those who do not
• $12.8 billion was spent via mobile
payments in the US in 2012
• $90 billion will be spent via mobile
payments in the US in 2017
• In 2016 an estimated $689 billion
will be influenced by mobile retail
4
Retail Industry – Key Opportunities for Mobile
© RapidValue Solutions
Retail
Restaurants & Café
Service
Financial
Other
Hospitality
Gyms
Churches
Top commercial venues where people use their mobile device
5
Mobility – Solution Framework
© RapidValue Solutions
Consumer Solutions
Enterprise Solutions 84%
of smartphone
shoppers use their devices
to help shop while in a store
1in3 use their smartphone to find
information instead of asking
store employees
5.6hrs can save
by using apps for
small business
1in10 ecommerce dollars
is spent using a
smartphone or tablet
43% of current mobile
shoppers who have
downloaded a retail app
50% of businesses are making
line-of-business apps accessible from
mobile devices
6
M-commerce Apps
© RapidValue Solutions
2012 2013 2014 2015 2016 2017
Forrester: M-Commerce to Reach $45 Billion
Factors that drive M-commerce growth:
• Increased Mobile security – Greater comfort in inputting financial data
• Increased Smartphone usage
• Fierce competition from “online only” retailers
7
M-commerce : Data Speaks
© RapidValue Solutions
“ Mobile is the best opportunity says Walmart. Over the past two years,
Walmart notices 1/3rd of Walmart.com traffic from mobile visitors
“Mobile continues to be a strength and source of growth, with mobile
enabled commerce volume jumping 75%. 20% of the company’s sales
are via mobile. 3.2mn new mobile users across its entire suite of apps
10
Consumer Apps
© RapidValue Solutions
Location Based Marketing via
discounts & coupons
Store locators
In Store Catalogues
In store Navigation
Apps
Self Checkout
Apps
Loyalty Management
Apps
Price List
Apps
12
Why In-Store Catalogue App?
© RapidValue Solutions
With the growth in the number of smartphone users, printing catalogues becomes obsolete.
• In Store catalogue Apps engage with customers more effectively – allow them to magnify,
add to favorites, add to cart etc.
• These apps can influence the basket size per customer due to personalization in mobile.
14
Case Study : Brighton Retail
© RapidValue Solutions
RapidValue worked along with Brighton Retail to introduce the In store Catalogue App
Outcome:
• Increased Customer satisfaction
• Better informed sales assistants
• Improved analysis of customer
behavior through integration with
backend CMS
• Rich media content
• Increased training effectiveness
across employees
• Reduced cost on wastage of paper,
shipping
RapidValue added Innovative features such as “Moodboards” which can pin items based
on the mood of the shopper and can be shared with friends
15
Why In-Store Navigation Apps?
© RapidValue Solutions
• According to a survey, 91% said that they were likely to leave a store if they could not find
a specific product that they wanted.
• “Self-help” is the new norm
17
Case Study : Best Buy, Home Depot, Walgreens
© RapidValue Solutions
• Best Buy integrates with the shopping list feature on the mobile app – Each item on the
list will be navigated to the customer while in store
• Home Depot has features where shoppers can check inventory of the item followed by
navigation to the correct aisle
• Walgreens, a large Grocery Retailer digitizes store data, accesses inventory, product
locations, floor plans which is accessed from customers mobile phone.
Futuristic view – The integration with the in store apps such as the Mobile shopping, Self
Checkout, Shopping lists etc.
18
Why Location Based Marketing Apps?
© RapidValue Solutions
Personalized marketing discounts, promotions, coupons
Publicize your business brand via check-in’s (usage of social media)
Monitor your customer comments with timely responses
Incentivizes customers to enter stores
• To receive information or alerts that I have requested
• To receive relevant offers or discount coupons
• To resolve customer service issues
• There are no good reasons
• To check-in or post on social networking sites
When asked why they would ever share their location or other personal information with a
company using their mobile device, respondents indicated the following:
19
Case Study : Meat Pack Retail
© RapidValue Solutions
• Implemented by a shoe store, Meat Pack Retail in Guatemala
• Sold limited edition shoes of brands like Adidas, PUMA, Nike etc.
• Set up geo fences around each official store of one of the brands they sold using GPS
technology
• Customer enters the competitor store
• Receives a discount coupon starting at 99% at their store
• Decrease by 1 % every second
More than 600 customers were hijacked from the competition
20
Why Price List Apps?
© RapidValue Solutions
Consumer makes informed decisions
Reduces buyer remorse
Provide consumer with comparisons on
pricing online / stores
Increases customer satisfaction due to
better savings
Provides customer reviews on the
product
21
Case Study : Amazon Price Check
© RapidValue Solutions
Amazon Launched Amazon Price check mobile app
to capitalize on mobile sales
Customers shopping at any other retail store can:
• Speak the name of the product or
• Enter the name or
• Take a photo
Check availability as well the price at Amazon for
comparison with the other retailer
To further incentivize customers to make the
purchase, Amazon price check app offers a 5%
discount on using the app to make a purchase
22
Why Self checkout Apps?
© RapidValue Solutions
• With an increasing trend of smartphone usage, “Linebusting” increasingly popular
• Easily integrated with shopping lists, scanning and payment gateways
23
Case Study : Magic Beans
© RapidValue Solutions
• Children’s Goods Retailer Magic Beans launched an iPhone application that enables
“Linebusting”
• Self Checkout Apps in store implemented
• Scan the chosen products with customer’s smartphone camera
• Find more information on scanned product / Add to cart options
Outcome:
• Increased customer satisfaction
• Reduces hardware costs on retailers buying scanning devices
• Reduces dependence on Sales personnel
24
Why Loyalty Apps?
© RapidValue Solutions
• With increased competition in the Retail industry, it is important to stay one step ahead
of your competitors
• To personalize the offers sent to customers based on their Account information /
buying behavior
“Acquiring new customers can be up to five times more expensive than retaining
existing customers
25
Case Study : Kroger Retail
© RapidValue Solutions
Kroger’s In Store App has Loyalty features which
assists in reviewing reward points, status and
upcoming rewards
Loyalty Cards can be:
• Registered once the App is downloaded
• Added in the App at later points
Can be linked to check fuel points at participating
tie ups and view the rewards history
Customer feedback forms which are directly sent to
Kroger
Check – in loyalty rewards – Customer earn points
for every check in via social media
Link to mobile wallets
26
Why Store Locator Apps?
© RapidValue Solutions
Provide convenience of search to the
customers
Store locator apps can provide
information on product availabilities at a
particular store
Store locators can indicate the closest
store based on a customers current
location
Indicate store working hours
27
Case Study : Target Corporation
© RapidValue Solutions
Target’s Store locator feature can:
Define the present location via GPS
Identify nearby stores to your default
location
Set your default store based on proximity
Outcome:
• Increased footfalls at store
• Assists customers in checking
availability of an item at a particular store
28
Enterprise Apps
© RapidValue Solutions
HRMS Apps
In Store
Audit Apps
Dashboard Apps
Mobile POS Apps
Sales Floor Assistant
Apps
Inventory Apps
30
Why Sales Floor Assistant Apps?
© RapidValue Solutions
Engage meaningfully with the customers
Increased proliferation in the market – Increased need to have loyal customers
Enable your sales force to have information on their fingertips
31
Case Study: Brighton Retail
RapidValue developed the Sales Floor Assistant App for Brighton Retail
Outcome:
• Measure of Customer satisfaction – Customers who were exposed to the experience of
the Sales Floor Assistant App were seen to have higher customer satisfaction levels
versus the other customers
• High Training costs reduced for Brighton through the implementation
• Customer analytics information provided better insight to management
• Reduced cost on wastage of paper, shipping – Retention of paper based catalogues by
customer are low
© RapidValue Solutions 33
Why Mobile POS?
Effective “Linebusting” mechanism
Improved customer satisfaction via streamlined checkout processes
Improved customer loyalty thereby adding to topline
© RapidValue Solutions 34
Case Study: Nordstrom
Outcome:
• Both the average selling price as well as the number of items sold increased in the year
of implementation
• Measure of satisfied customers – There was an increase in repeat customers post
implementation of this app
• Nordstrom – a Fashion and beauty based Retailer introduced Mobile POS devices – a
modified iPod touch with a merchandise scanner and a credit / debit card slider
• Allows employees to check out customers anywhere in the store
• Allows employees to check the company’s entire inventory (alternative size / color)
across stores
© RapidValue Solutions 35
Why Inventory Apps?
Enable employees with access to inventory information
across stores to avoid loss of sale
Real time and immediate information on inventory levels
Improved customer experience
Customer loyalty increases on account of confidence
earned by sales force
© RapidValue Solutions 36
Case Study: Moosejaw Retail
• Low turnaround time - Quick conversion of enquiries into sales
• Customer Experience -“Wow” factor among customers
• Engaged sales force with access to the whole enterprise in their pocket
Outdoor gear Retailer Moosejaw have Inventory tracking Apps that allow:
• Checking enterprise inventory on the spot via Mobile Apps integrated with Enterprise
systems
• Place an order from the warehouse
• Have the merchandise shipped to the customer at no additional cost in no time at all
Outcome:
© RapidValue Solutions 37
Why In Store Audits?
Effective management of Audit requirements
Mobile based Audit assists in reduction of manual efforts of transfer from paper to system
Real time access of information by Management level employees
Customized solutions based on Audit requirements
© RapidValue Solutions 38
Case Study: Heinz
• Enable management to pull detailed or summary reports without any need to collate data
• Considerable lag in time decreased
• Heinz implemented Retail Audits Mobile Apps with smartphones
• Transition from the traditional paper based audits
• The audits covered distribution, placement and display of their products
• Moving from paper enables lesser collation, lesser errors, faster report access to
management
Outcome:
© RapidValue Solutions 39
Why Dashboard Apps?
• Tailor made content for management level / CXO level employees
• Dashboards to reveal critical information on store performance, store revenue, what if
analysis, overall store audit results etc.
• Various department level information can be displayed to draw analysis and devise
corrective actions
© RapidValue Solutions 43
Why HRMS Apps?
Enable employees with access to their salary information, personal information etc.
Improve the employee employer relationship by empowering employees with information
Increased employee satisfaction levels
Recruitment Apps to engage with right candidates and hire the right people
© RapidValue Solutions 47
Augmented Reality : Trend Watch
“Mobile Augmented reality to reach 200 Million unique users by 2018”
– Juniper Research
“By 2017, over 2.5 billion mobile Augmented Reality apps will be downloaded to
smartphones and tablets per year”
– Juniper Research
“Mobile Augmented Reality apps will generate $5.2 billion in 2017”
– Juniper Research
© RapidValue Solutions 49
Why Augmented Reality Apps?
Introduction of Augmented Reality Concept stores
Virtual fitting rooms
To view products within boxes
Discover stores in the vicinity
Access detailed product information on an object of interest
Provide direction to a user on where to go and what to do
© RapidValue Solutions 50
Augmented Reality Today
Augmented
Reality
Concept Stores
Augmented
Reality
Fitting Rooms
Augmented
Reality Catalogues
Augmented
Reality
Coupons
Augmented
Reality
Shopping Assistant
Augmented
Reality
Product Information
© RapidValue Solutions 51
About RapidValue
RapidValue is a leading provider of end-to-end mobility solutions to enterprises worldwide. Armed with a team of 200+ experts
in mobility consulting and application development, along with experience delivering over 350 mobility projects, we offer a range
of mobility services across industry verticals. RapidValue delivers its services to the world’s top brands and Fortune 1000
companies, and has offices in the United States and India.
www.rapidvaluesolutions.com www.rapidvaluesolutions.com/blog
+1.925.980.8033 [email protected]
This document contains information that is confidential and proprietary to RapidValue Solutions Inc. No part of it may be used, circulated, quoted, or reproduced for distribution
outside RapidValue. If you are not the intended recipient of this report, you are hereby notified that the use, circulation, quoting, or reproducing of this report is strictly prohibited and
may be unlawful.
Disclaimer:
© RapidValue Solutions 52