the future of online retail
DESCRIPTION
Discusses emerging business models in retail e-commerce: mass customization and subscription commerce. Presents case study of Shoes of Prey. Outlines new directions for e-tail technology.TRANSCRIPT
The Future of Online Retail
Leighton Peter PrabhuPartner, Russia & CIS
Interstice Consulting LLPwww.intersticeconsulting.com
October 2011
Co-creation / mass customization
Other co-creation projects
Subscription commerce
curationcustomer service
style typespackaging
simplified choices
samplingcelebrity experts
negative-option billing
?
Other subscription commerce projects
Case study - Shoes of Prey
What we doWe make women happy. We bring out their creativity and allow them to wear something
they've created for themselves.
A shoe for every mood
Fanciful
Edgy Dreamy
CorporateElegant Trendy
Classic
FreshEnergetic
Bust a Move
Building the Shoes of Prey brandCreating awareness
and excitement
Delivering an outstanding brand experience
Generating positive word of mouth
- Encouraging sharing on social media- Offering incentives for referrals
- Online- Offline- Localized- Personalized
- Creating demand through PR, events, social media- Engaging opinion leaders
Creating awareness and excitement
• “Create” demand• Primacy of Internet –
“zero moment of truth”• Broadcast media, events,
social media• Engage opinion leaders• Special channels
Media mentions (Russia)
Delivering an outstanding experienceLocalized and personalized, both online and offline
Generating positive word of mouth
• Encourage sharing on social media
• Power of stories• Incentives for referrals– Social– Financial
• Blogs (internal and external)• Newsletter – easy to
forward
Results - customer survey(Net Promoter Score: 0 = neutral, 15+ above average, 50+ excellent)*
How satisfied were you with the level of customer service?
84.7How likely are you to recommend Shoes of Prey to a friend or colleague?
67.7Prior to purchasing from Shoes of Prey, did you know someone who had made a purchase from Shoes of Prey before?
11.3% of our customers knew someone who had purchased from us prior to ordering their shoes will no doubt grow as our customer base grows.
*some NPS comparisons: BMW (59) Apple (79) FedEx (56) Google (73) Amazon (73)
Recognition
• Best New Online Retailer• Best Online Retail
Marketing Initiative• Most Innovative Online
Retailer
What’s next?
“Bricks and Clicks”TESCO / Homeplus, Korea
Augmented realitywe’ve already come so far
Online fitting using webcam
Augmented reality - technologySRI International / Microsoft Kinect
AR - implementationsTOPSHOP / AR Door, Evropeisky
3-D virtual fitting roomFits.me
Some resources
i-accelerator.rustartupwomen.ruspringwise.com
Спасибо!
L.S. Peter PrabhuBCom MPhil CA CPAPartner
Interstice Consulting LLPTverskaya 9Moscow 125009Email: [email protected]: +7 916 404 97 52Blog: russkiebiz.wordpress.com