darko dujić: key challenges in managing the consumer journey
TRANSCRIPT
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Key Challenges in Managing the Consumer Journey
Darko Dujić
CEO Ceneje Group
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Why we belive ecommerce is the place to be now?
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What drives (e)commerce growth?
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Key opportunity areas for ecommerce growth and development• Internet penetration
• Ecommerce penetration
• Categories bought on internet
• Consumer tech penetration
• Speed of internet
• Mobile penetration
• Internet access price
• Growth of m-commerce solutions
• Empowered customer
• Information transparency
• Emerging technologies
• Emergence of aggregators/ marketplaces/ virtual platforms – increased speed and quality of decisionmaking.
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Key competitive threats - local perspective• Global and regional players domination (and subsidies)
• Scale and data driven approach – distribution and data analysis
• Legal restrictions and diversity – expansion
• Language restrictions and adaptations – going global
• Access to the relevant knowledge and resources – learning by doing
• Communication efficiency
• Industry and tech dynamics – high speed
• Traditional retail role and attitude (they will have to disrupt themselves)
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Oil and Gas#11
Travel#7
Pharmaceuticals#12
Utilities#10
Healthcare#9
CPG and Manufacturing
#8
Education#6
Telcom#5
FinancialServices
#4
Retail#3
Media#2
Technology#1
Global Center for Digital Business Transformation, 2015
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What it means for traditional business?
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What it means for traditional business?
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Our real day2day challenges while walking on the „new business way“
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Traffic
Transparency
Technology
Trust
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The Technology challenge in ecommerce
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MobTech as driver of consumer behaviour
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Speed of change - user adoption time
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Where we stand?
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Where we stand in reality? How ready are we for mobile user among evaluated ecommerce sites in Croatia?
61%
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The Traffic challenge in ecommerce
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Who in this room thinks that he/she really cracked the purchase funnel and now understand it?
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We will never really understand purchase funnel!
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„Buy“ button everywhere!? Are we ready as consumers?
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No! We have to follow „the measure“ of our success?
„Her majesty CPO“
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Do conusmers have „the right“ to take time and re-think?
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How we define relevant traffic we aim for? What are the most relevant sources we have available?What kind of measures of success we should use?
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The Transparency and Trust challenge in ecommerce
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Is price a measure for everything?
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Commerce used to be driven by information asymmetry!
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Broadly accepted traditional industry opinion is……that transparency and comparability is one of the key business issues and challenge to competitiveness! Do you agree?
Is there something wrong with this statement? What is the underlying condition of perfect competition?
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“A cynic is a man who knows the price of everything, and the value of nothing.”
Oscar Wilde
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Only when we shall understand our price position we will be able bring non-price value in to the equation!• Understanding and harnessing the role of technology advances in purchase funnel
• Accept the fact that „consumers are informed“ also from sources where we as a brand/retailer do not
have exclusive power to influence, at best to co-create and curate.
• Data driven approach for content creation, value development and assortment optimization.
• Bringing online to offline for omnichannel retailers (showrooming – Target case)
• Building verified and objective references and trust across platforms.
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Comparison shopping platforms are the source of transparency – let us check the role of price within its user experience!Four cases
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User interest in the category segmented by price
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Advertising impact
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Impact of objective product tests on interest and trust
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Decisions take mysterious ways! The outcome of trust!
Ceneje.si – internal data 2015
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The „analytics“ of trust related building bricks in ecommerce in Croatia!
Basic info Share of totalExistence and visibility of General Terms 47%Return policy - hidden or non-existent 56%Delivery information - no or not valid 44%Secure server transactions (not available) 44%
sMind – Web Trgovac Godine 2016 by Jeftinije – ecommerce technical analysis – n =225
Customer careNo respond to email 16%No respond to call 19%Comments and reviews (no) 59%
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We all need our trusted shortcuts!
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Thank you!