retail trends & innovation€¦ · top purchase influencers 19% 35% 0% 10% 20% 30% 40% retailer...
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Ottawa Real Estate Forum
October 8, 2015
Retail Trends & Innovation
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Retail Landscape
Competition in the luxury market
Outlet retailers coming to Canada
Benefits of the weak CAD dollar Emergence of vertical and mixed-use
developments
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State of Online Retail
93% of Canadians are online shoppers
70% are recent shoppers who have made a purchase in the past 3 months
% of Online Shoppers
% of Online Cross-Border Shoppers
74%
56% 68%
48% 73%
57%
68%
49%
Most likely to purchase online
Consumers under 44 Females
Shopping Behaviour in Major Cities
Canada Vancouver GTA Montreal
% Online Shoppers 70% 76% 82% 69%
% Online Cross-Border Shoppers 52% 60% 67% 52%
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State of Online Retail
Delivery Preferences
47%
37%
16% Buy online,
deliver home
Buy in-store,
take home
immediately
Other
Top Purchase Influencers
19%
24%
35%
0% 10% 20% 30% 40%
Review sites
Retailer websites & flyers
Online ratings and reviews
Consumer Spend
Online expenditure increased in all categories in
Quarter 2, except for Health & Beauty Products
Top Satisfaction Rates by Category
66%
66%
70%
74%
80%
0% 50% 100%
Kitchenware…
Footwear
Appliances
Electronics
Entertainment
$106 $88 $116
$53
$149
Kitchenware
& Homeware
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Key Trends in Retail Innovation
Key Trends in Innovation
Curated Collections
Hyper Local Online Offline
Mashup
Customization Experiential Retailing 2.0
Retailvention Technology
Intervention
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Curated Collections
The heart of successful retailing rests in creating a coherent and compelling assortment
Customers have access to goods from a much broader and global variety of providers
Retailers are under pressure to deliver a clear and meaningful offer
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Trunk Club, USA
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Customization
Retailing and manufacturing now offer increasingly customizable options to meet high customer expectations
Customization in retailing is reaching critical mass
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BIRCHBOX, USA
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BIRCHBOX, USA
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Experiential Retailing
Retailers must rethink the role of the store
Showcase merchandise in a way that boldly delivers an experience
Gain more relevancy to consumers:
• Social gathering places
• Centres for knowledge, learning, and information
• Places of recreation, relaxation
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Hedonism, UK
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Hedonism, UK 13
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Hyper Local Power in truly being local
and eco-friendly
Having the right products sourced from the local community resonates with many trends and influences consumers:
- Freshness
- Sustainability
- Supporting local community
- Safety
- Consumer interest in understanding the products they consume 14
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Au Bout du Champ, France
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Au Bout du Champ, France
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Online Offline Mashup
Seamlessly blending the online and offline retail experience
Allowing customers to shop where and how they want
Online tools are being adopted for in-store use
Bringing the immediacy of online into the brick and mortar world
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Argos, UK
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Argos, UK
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Retailvention
New models challenge the very nature of what retailing can be
Retailvention poses high-impact questions:
- How do you think about an existing business in a completely different way, shattering the tried and true methods of distribution and selling?
- How do you build and take a business directly to the customer, by-passing traditional selling channels?
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Bilder & deClercq, The Netherlands
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22 Bilder & de Clercq, The Netherlands
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Technology Intervention
Technology itself is not innovation
What technology enables customers to do provides true innovation
Arms consumers with more choice, more access, and more information than ever before:
- 24 hour access to goods
- Access to more detailed information; customized offers
- Seamless checkouts
- Real-time visibility into inventory 23
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TeamLabHanger, Japan
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For a free copy of Retail Innovations 10
Visit: www.jcwg.com
Or scan:
Lisa Hutcheson J.C. Williams Group 90 Richmond St. E., Suite 100
Toronto, ON
T 416.921.4181
M 416.986.3035 [email protected]
Twitter: @_lisahutcheson
www.jcwg.com