the always open storefront
TRANSCRIPT
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Chris [email protected] Global Head – Growth, Strategy and Marketing
www.teamhgs.com
The “Always Open” Storefront: Driving Retail Revenue through Digital Channels
@teamhgs
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2 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
Canadian Retail Landscape is Evolving
Source - Globe and Mail, Report on Business – Saturday May 9, 2015
“Retail Sector posted a loss of 20,500 workers” as “retailers eliminated thousands of sales, cashiers and clerk positions”… now four months in a row
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3 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
CustomerOptimizing the
Experience…helping our Clients
to BecomeMore Competitive
“
”
@teamhgs
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4 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
Consumer Engagement is Still Changing
Right Channel. Right Time. Right Convenience.
Chan
nel
ConvenienceExpectation
@teamhgs
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5 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
How Consumer Engagement is Rapidly EvolvingMore new channels, self-service and social will make dramatic gains; while voice and IVR based interactions will drop dramatically
SELF-SERVICE
2014
65%
20%
7%
2018
22%
30%
28%
Source: Gartner 2014
Not all channels represented on this slide, see appendix
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6 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
Retail Industry
In person shopping drops dramatically with reduced shopping frequency
Daily
Weekly
Monthly
Few times a year
Once a year
Never
8%
28%
34%
24%
3%
2%
3%
17%
34%
34%
7%
4%
3%
8%
13%
16%
7%
52%
2%
8%
14%
15%
6%
54%
Products purchase frequency (in-store vs. online channels)
In-store Online via PC Online via mobile/smartphone Online via tablet
Daily shopper in-store and online are equal @teamhgs
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7 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
Retail Channels PreferencesFactors driving customer purchase - Online vs. Bricks & Mortar Shopping
61% 53% 46% 44%27% 27% 23% 21%28% 24% 16%
29%16% 7% 9% 11%
Advantage OnlineOnline Bricks & Mortar
Hassle-free returns
Routinely shopping there already
Can buy multiple things at
the same time
Get products sooner
See and feel before buying
10%21% 23% 16% 9%
35% 39% 44%53% 58%
Advantage Bricks & MortarOnline Bricks & Mortar
Source: GFK FutureBuy 2014 report
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8 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
Consumer Engagement is Still Changing
Right Channel. Right Time. Right Convenience.
3X decrease in voice
4X increase in social media
Chan
nel
ConvenienceExpectation
Save money and easy to do business - onlineVs.
Touch it and Feel it – in store
Daily shopper in-store and online are equal
24X7X365
Easy to do business.
@teamhgs
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9 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
Customer Life Cycle
Consumers interact at many different end-to-end lifecycle points
Consider
1
Shop
2
Buy
3
Fulfill andDeliver
4
Activate /Setup
5
Bill, Transactional
Reporting, Claims
6
Pay and Collect
7
Compliments, Inquiries and Complaints
8
Fix, Repair, General Support
9
Track, Moves Changes,
Adjustments
10
Leave / Terminate
11
@teamhgs
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April 15, 202310 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels
Unified Customer Experience strategy creates value for our clients, and their customers
Unified Customer Experience Strategy
Voice
SMS
Mobile Apps
Chat
Online Self Service
IVR
Social Media
Video Chat
Website
Revenue generation and optimization
Customer Experience – with NPS/RTF measure of loyalty
Availability – Always open
Ease of doing business – How the customer prefers
Brand management across consumer channels
Business and cost transformation
Enabling the Optimized Consumer Journey… with clear objectives in mind
“Consumer Strategy”
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11 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
Optimizing the customer journey with a unified experience
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12 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
The Customer’s Online Journey Begins Here
Customer self service portal is open for business 24/7
@teamhgs
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13 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
Always Open, Easy Experience
Infiniti Concierge(brings showroom to your HOME)
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14 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
Always Open, Easy Experience
Step 1 Step 3Step 2
Infiniti Concierge(brings showroom to your HOME)
Let me send you the latest
brochure.
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15 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
Always Open, Easy Experience
Infiniti Concierge(brings showroom to your TABLET)
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16 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
Always Open, Easy Experience
Infiniti Concierge(brings showroom to your MOBILE)
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17 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
Complaints as Opportunities
Consumers who have never had a problem are less loyal than those who had their problem resolved…
Source : BenchmarkPortal Inc / Purdue University
Re-PurchaseProbabilityCustomer Situation
78%
32%
89%
Purchased product and you had no problems
Product had problems and you had a poor customer service experience
Product had problems and you had a positive customer service experience
@teamhgs
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18 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
Turing Compliments into Repeat Purchases
Customer has negative experience
at one of 14,000 restaurant locations
“Easy to Find”
Contact Customer Service
“Always Open”
Phone, Email, Twitter, Facebook
“Personalized”
HGS provides personalized interactions
Fulfillment services, personalized letterscoupons, gift cards
Recorded conversation sent to
franchise owners
“Easy to do Business”
Franchise owners follow up
Customer for Life
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19 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
What the “Always Open Digital Storefront” Is
Easy to find Integrated across channels Multiple entry points Multiple forms of support Easy to do business 24X7X365
@teamhgs
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20 HGS Confidential – www.teamhgs.comDriving Retail Revenue through Digital Channels April 15, 2023
Visit HGS at Booth 17
https://www.youtube.com/watch?v=IZ8VPpTh9F0
http://www.teamhgs.com/thought-leadership/videos @teamhgs