confessions of a shopaholic dx3 - mar 6,13 pdf

Confessions of a Shopaholic:How Digital Connectivity has

Changed the Shopper

Dx3 Canada – Toronto, ONMarch 6th, 2013

Presented by: Ian S. Cruickshank

FIRST A FEW STATS

WHAT HAS CHANGED?

Access to Data

Digital Commerce

EMFX-Commerce

Mobility

Social

Cloud

Cloud

The Cloud

“The computer industry is the only industry that is more fashion-driven than women's fashion.

Maybe I'm an idiot, but I have no idea what anyone is talking about.

What is it? It's complete gibberish. It's insane. When is this idiocy going to stop?”

Larry Ellison, CEO Oracle Corporation

A LITTLE CONSUMER BEHAVIOUR

Time Spent Online

Changing Habits

Traditional Purchase Funnel

Purchase Decision Process

The Loyalty Loop

Harvard Business Review - 2010David Edelman - McKinsey & Co.

Information Overload

Omnichannel

The Digital Shopper

➜Better informed➜Savvy➜High Expectations ➜Busy➜Well Educated➜Online regularly➜Active in Social

The Digital Shopper

➜Affluent➜Loyal ➜Pre-qualified➜Pre-sold/Ready to

buy➜Spends more➜Likes shopping to

be easy

Shopper Expectations

➜Easily find products online

➜Product details➜Specifications➜Images➜Descriptions➜Objective reviews➜Stock availability

Shopper Expectations

SIMPLICITY

The Gap in thinking

Consumer reasons

61% Discount55% Purchase 53% Reviews

53% General Info 52% Exclusive Info

51% New product info49% Submit opinion

37% Customer service34% Event Participation

33% Feel Connected30% Submit product ideas22% Part of a Community

Our perceived reasons

New product info 73%General info 71%Submit opinion 69%Exclusive Info 68%Reviews 67%Feel connected 64%Customer service 63%Submit product ideas 63%Part of a community 61%Purchase 60%Discount 60%

The Gap in thinking

Consumer reasons

61% Discount55% Purchase 53% Reviews

53% General Info 52% Exclusive Info

51% New product info49% Submit opinion

37% Customer service34% Event Participation

33% Feel Connected30% Submit product ideas22% Part of a Community

Our perceived reasons

New product info 73%General info 71%Submit opinion 69%Exclusive Info 68%Reviews 67%Feel connected 64%Customer service 63%Submit product ideas 63%Part of a community 61%Purchase 60%Discount 60%

PRICE Books Fashion Grocery

Prices often lower online 5 3 1

Digitized products create lower cost 5 1 1

Value of price comparison 5 3 2

SELECTIONValue of broad selection 5 4 3

Value of customization 2 3 1

Searches in stores often futile 4 3 2

How Digital is your Industry?

CONVINIENCE Books Fashion Grocery

Research and information intensity 5 3 2

Web tools trump store experience 4 2 2

Ease of delivery and returns 5 3 1

TRUSTReliability of product description 5 2 2

Frustration in stores 4 4 2Trust online retailers 5 3 1

How Digital is your Industry?

INDUSTRY TOTAL

Books 54

Fashion 34

Grocery 20

How Digital is your Industry?

So what about your business?

TOOLS TO WIN IN THE DIGITAL WORLD

The Must Have’s

➜SEO➜SEM➜Social➜Mobile➜eCommerce

Savvy as Online Shoppers

➜Launch an eCommerce website➜Make your site mobile-ready➜Publish you product feed to multiple

shopping engines ➜Measure Everything—Usage, Fans,

Engagement, Popularity➜Deliver exceptional service—It’s your

online reputation

Launch an eCommerce Site

➜Get your products online➜Keep it accurate & current➜Offer lots of product details➜Add user reviews➜Offer stock inventory details➜Enable microformats➜Offer online purchase,

offline pickup➜Run online-only promotions

Enable Microformats

Be Mobile Ready

➜Your site needs to work in Mobile

➜Don’t use flash or java

➜Focus on usability➜Must load quickly➜Integrate with

native functions (maps, phone, email)

Publish a Product Feed

➜A product feed is a file containing information about the product list on an e-commerce website➜Search Engines➜Affiliate Website➜Shopping

Comparison➜Marketplaces

Get Social

➜Listen ➜Plan ➜Build ➜Engage

➜Content ➜Contesting ➜Advertising

➜Drive Traffic➜Measure

A QUICK LOOK FORWARD

Or just call me 1.778.997.9474