NRF Big Show
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The document discusses insights from the National Retail Federation's annual convention, focusing on key trends like omni-channel retailing, the importance of big data, and advancements in point-of-sale systems. It highlights the evolution of consumer engagement and the necessity for retailers to adapt by integrating digital and physical shopping experiences. Additionally, it emphasizes the necessity for businesses to leverage data as a strategic asset to remain competitive in the rapidly changing retail landscape.
NRF Big Show
- 1. The NRF “Big Show” Lunch & Learn ~ February 27, 2014 Proprietary & Confidential 1
- 2. The National Retail Federation NRF Big Show = Annual Convention Shop.org = Digital retail industry Proprietary & Confidential 2
- 3. Why We Attend 01 Stay on top of industry trends and innovations 02 Build deeper client and partner relationships 03 Business development Proprietary & Confidential 3
- 4. Credit: LAI Video via Vimeo Proprietary & Confidential 4
- 5. Credit: NRF via Flickr 5 Proprietary & Confidential
- 6. Credit: Proprietary & Confidential http://onegociodovarejo.com.br/ 6
- 7. Credit: NRF via Flickr Proprietary & Confidential 7
- 8. Credit: NRF via Flickr Proprietary & Confidential 8
- 9. Credit: NRF via Flickr Proprietary & Confidential 9
- 10. Trends and Observations 1. 2. 3. 4. Omni-everything Big data gets real POS and the connected store Mobile as the unifier Proprietary & Confidential 10
- 11. Omni-everything The omni-channel concept is now accepted, the focus has shifted to expanding capabilities and integrating the user experience. Proprietary & Confidential 11
- 12. Supporting a variety of retail scenarios 1. Multi-channel • Transact separately in more than one channel 2. Cross-channel • Engage in one-channel, continue and complete in another 3. Omni-channel • One customer - many touchpoints, many journeys, one brand Proprietary & Confidential 12
- 13. Customers are driving the evolution Credit: Redefining the Customer Experience Gives a Whole New Meaning to Window Shopping - January 13, 2014 Proprietary & Confidential 13
- 14. Omni-Channel Customer Journey Credit: Redefining the Customer Experience Gives a Whole New Meaning to Window Shopping - January 13, 2014 Proprietary & Confidential 14
- 15. Omni-Channel Model Credit: The Future of Retail: Trends To Act On, by PSFK, 2014 Proprietary & Confidential 15
- 16. Omni-Channel Fulfillment Credit: Mobile Innovation As A Roadmap to Customer Success, NRF, January 13, 2014 Proprietary & Confidential 16
- 17. Omni-Channel Supply Chain Microwarehousing • • • • Credit: Hointer, www.hointer.com Stores act as warehouse network Inventory control Order pick-up Integrated data Proprietary & Confidential 17
- 18. Online going offline Credit: Beyond Bricks: A Conversation About Merging Physical and Digital Retail With Warby Parker and Fast Company, NRF Proprietary & Confidential 18
- 19. Online going offline Credit: Beyond Bricks: A Conversation About Merging Physical and Digital Retail With Warby Parker and Fast Company, NRF Proprietary & Confidential 19
- 20. Online going offline Credit: Beyond Bricks: A Conversation About Merging Physical and Digital Retail With Warby Parker and Fast Company, NRF Proprietary & Confidential 20
- 21. Online going offline Credit: Beyond Bricks: A Conversation About Merging Physical and Digital Retail With Warby Parker and Fast Company, NRF Proprietary & Confidential 21
- 22. Online going offline Credit: Beyond Bricks: A Conversation About Merging Physical and Digital Retail With Warby Parker and Fast Company, NRF Proprietary & Confidential 22
- 23. Asymmetrical merchandising • Group dissimilar products to tell a story • Respect people‟s limited focus • Showcase breadth with fewer products Credit: New Thinking to Drive Sales: Asymmetrical Merchandising Online and Off, January 12th, NRF Proprietary & Confidential 23
- 24. Big data gets real Data as a critical resource for building business value through informed decisions and personalized experiences. Proprietary & Confidential 24
- 25. Big Data Credit: http://www.onlineevent.com/NRF/annual13/A-New-Era-of-Value-A-Conversation-with-Ginni-Rometty/ Proprietary & Confidential 25
- 26. Big Data • The mind-shift = data as a natural resource that can create competitive advantage • Structured and unstructured data / front and back-end • Descriptive > Predictive > Prescriptive • 2X business benefits Proprietary & Confidential 26
- 27. POS and the connected store 70% of retail executives state their organization is currently deploying or planning to refresh its existing POS system in the next 3 years Proprietary & Confidential 27
- 28. The POS Cycle Analog Digital Java Based Scanners mPOS 60s 70s 80s 90s 10s Proprietary & Confidential 28
- 29. The future of Nordstrom point of sale systems is completely mobile. - Jamie Nordstrom, President, Nordstrom Inc. Proprietary & Confidential 29 2
- 30. The unified commerce platform Credit: Digitizing the Store: What’s the Future of POS?, January 14th, NRF Proprietary & Confidential 30
- 31. The next wave of POS • Nearly 40% of retailers are considering a single consumer platform to manage interactions and transactions across channels • Twice as many retailers globally plan to leverage e-commerce over traditional POS for their next-generation store software • Retail executives are considering cloud (30%) over on-premise (19%) for their POS software applications Credit: Digitizing the Store: What’s the Future of POS?, January 14th, NRF Proprietary & Confidential 31
- 32. The POS Innovations Removing hardware and functional silos to deliver better in-store and cross-channel customer experiences. Credit: www.toshibacommerce.com; http://www.motorolasolutions.com/ Proprietary & Confidential 32
- 33. Hointer – the connected store Omnicart eTag Sales Associate Tools Connected Change Rooms Credit: Hointer, www.hointer.com Proprietary & Confidential 33
- 34. Rethinking the fitting room Proprietary & Confidential 34
- 35. Redefining the store Credit: Redefining the Customer Experience Gives a Whole New Meaning to Window Shopping - January 13, 2014 Proprietary & Confidential 35
- 36. Redefining the store Credit: Redefining the Customer Experience Gives a Whole New Meaning to Window Shopping - January 13, 2014 Proprietary & Confidential 36
- 37. Interactive Store Fronts Credit: Redefining the Customer Experience Gives a Whole New Meaning to Window Shopping - January 13, 2014 Proprietary & Confidential 37
- 38. Interactive Store Fronts Credit: Redefining the Customer Experience Gives a Whole New Meaning to Window Shopping - January 13, 2014 Proprietary & Confidential 38
- 39. Mobile the unifier Mobile has become the principle platform for how people live, work and shop, and for retailers it‟s emerging as the most important connection to their customers. Proprietary & Confidential 39
- 40. We‟ve entered an era in which the only sustainable competitive advantage is knowledge of, and engagement with customers. - Forrester Research Proprietary & Confidential 40 4
- 41. Top eCommerce Priority in 2014 - Mobile Credit: The State of Online Retail 2014, Forrester Research, Sucharita Mulpuru January 13, 2014 Proprietary & Confidential 41
- 42. Positioning mobile at the centre Credit: Mobile Innovation As A Roadmap to Customer Success, NRF, January 13, 2014 Proprietary & Confidential 42
- 43. Customer Context Estimote Beacon • Allows you to “program” environments to deliver contextual information and offers http://www.youtube.com/watch?v=sUIqfjpInxY Credit: The Future of Retail: Trends To Act On, by PSFK, 2014 Proprietary & Confidential 43
- 44. Loyalty is a mobile killer app PC Plus Starbucks Google Wallet Credit: Personalizing the Customer Experience, Peter Lewis, NRF 2014; http://www.mobilecommercedaily.com/starbucks-app-surpasses-70m-mobile-payments-transactions; www.google.com/wallet/business/loyalty Proprietary & Confidential 44
- 45. Implications for Nurun & Clients Proprietary & Confidential 45
- 46. Implications for Nurun and our Clients • We’re in the midst of a transformative time in retail, we need to be out in front of our clients • Know the trends and how they apply to our client‟s business • Understand evolving consumer behaviour • Be aware of how our key platform partners are addressing these trends • Consider data as strategic asset and think about how we can use it to differentiate our solutions • Making solutions „smarter‟ • Optimization our solutions • Digital store will become more prominent as POS shift occurs Proprietary & Confidential 46
- 47. Reference Material • Ginni Rometty video - http://www.onlineevent.com/NRF/annual13/A-New-Eraof-Value-A-Conversation-with-Ginni-Rometty/ • NRF Presentations - http://www.freeman-cloud.com/bigshow2014/ Proprietary & Confidential 47
- 48. Thank You. Proprietary & Confidential 48
Editor's Notes
- #3: Retail Industry * More engineers and analysts than Silicon Valley and Wall Street * Advocacy group, lobbying on taxes, immigration, etc
- #10: Craig Jelinek, CEO Costco
- #16: Key points where a forward thinking retailer or brand can effectively employ data, connected technologies and human service to meet the shopper where they are and anticipate where they will go next, enabling better interactions at every stage of the sale.
- #26: http://www.onlineevent.com/NRF/annual13/A-New-Era-of-Value-A-Conversation-with-Ginni-Rometty/1:3510:23
- #27: http://www.onlineevent.com/NRF/annual13/A-New-Era-of-Value-A-Conversation-with-Ginni-Rometty/1:3510:23
- #44: http://www.youtube.com/watch?v=sUIqfjpInxY
- #45: Loblaws - 3X Lift from loyalty offers is better than lift from flyer >6,000 members per storeStarbucks - 10% of store sales on Starbucks appGoogle - Google Wallet Objects API. New customers can instantly sign-up and get real-time messages, loyalty status, and rewards balance.