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Experiential Retail: New Data Reveals the Opportunities (and Challenges) of This Growing Trend

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Access the full event here: https://event.on24.com/wcc/r/1943213/38846AF00F46D5307C0D6A919EC74D9C

"Retailers across categories are rethinking their brick-and-mortar strategies, shifting from pushing sales to building communities. In fact, new data from Retail TouchPoints and TimeTrade reveals that more brands are experimenting with pop-ups, product launch events, influencer events and classes to drive in-store traffic, build local engagement and even drive bottom-line results. During this webinar, RTP and TimeTrade will provide an exclusive first look at the results, delving into:

• Trends in experiential retail, including top tactics, promotion and amplification trends, and more;
• Common challenges in experiential strategy and execution; and
• Missed opportunities and areas where retailers can improve."

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Experiential Retail: New Data Reveals the Opportunities (and Challenges) of This Growing Trend

  1. 1. #CCS19 Experiential Retail: New Data Reveals the Opportunities (and Challenges) of This Growing Trend SPONSORED BY:
  2. 2. #CCS19 Follow this event on LinkedIn & Twitter #CCS19 Retail Touchpoints: @RTouchPoints Alicia Esposito: @Alicia_FioEspo TimeTrade: @TimeTrade Lauren Mead: @LaurLeMe
  3. 3. #CCS19 About Retail TouchPoints  Launched in 2007  Over 45,000 retail subscribers  To provide executives with relevant, insightful content across a variety of digital medium Sign up for our weekly newsletter: www.retailtouchpoints.com/subscribe
  4. 4. #CCS19 Prize Pack: Register & Attend to Win Earn 1 automatic entry when you register and a second entry when you attend live. Register For & Attend #CCS19 Webinars For the Best Chance to Win! • Free Pass to #RIC19 in NYC May 6-8 – 1 Winner Per Day • Apple AirPods – 1 Winner • $10 Starbucks Gift Cards – 1 Winner Per Session
  5. 5. #CCS19 Questions, Tweets & Resources Submit your questions here Download today’s resources Join the conversation #CCS19
  6. 6. #CCS19 Panelists Moderator: Alicia Esposito Senior Content Strategist Retail TouchPoints @Alicia_FioEspo Lauren Mead Chief Marketing Officer TimeTrade @LaurLeMe
  7. 7. #ExperientialRetail Growth is on the horizon Retail sales will rise between 3.8% and 4.4% this year. - The National Retail Federation
  8. 8. #ExperientialRetail The growth gap is closing E-Commerce: 10%-12%(NRF) Brick-and-mortar: 3.04% (IBM)
  9. 9. #ExperientialRetail …as stores face a relevance crisis 59% of store operators say store traffic was flat or down in 2018. (CSP 2018 Outlook) Six weeks into 2019: 2,187 store closures announced (Coresight Research)
  10. 10. #ExperientialRetail A new Retail Renaissance is emerging
  11. 11. #ExperientialRetail Events & classes cultivate community
  12. 12. #ExperientialRetail We had some questions 1. What role do events and classes play in the experiential retail movement? 2. What challenges are retailers facing in planning and executing upon their goals? 3. How do brands measure success? 4. Who oversees event/class budgets and strategies? 5. What tactics will lead in 2019?
  13. 13. Experiential Retail: New Data Reveals the Opportunities (and Challenges) of This Growing Trend
  14. 14. Intelligent Customer Engagement for Retail Convert interest to purchase Confidential and Proprietary. Copyright ©2018 TimeTrade, Inc. All Rights Reserved . Connect Acquire Retain
  15. 15. Confidential and Proprietary. Copyright ©2018 TimeTrade, Inc. All Rights Reserved Technology & Services Financial Services Retail 550+Enterprise Brands 30,000+Businesses 550M+Appointments Scheduled 10of the top 20North American Banks Proven Experience with Top Brands 15
  16. 16. 16Confidential and Proprietary. ©2019 TimeTrade, Inc. All Rights Reserved Our Survey Respondents Retail Category Number of Locations Retail Type
  17. 17. 17Confidential and Proprietary. ©2019 TimeTrade, Inc. All Rights Reserved Q. Has your retail brand held in-store events and classes in the past? The majority of retailers are already embracing in-store events and classes
  18. 18. 18Confidential and Proprietary. ©2019 TimeTrade, Inc. All Rights Reserved Why not events & classes? Q. If no, what has prevented your business from investing in events and classes?
  19. 19. 19Confidential and Proprietary. ©2019 TimeTrade, Inc. All Rights Reserved It takes time Events Classes Q. How frequently are you holding events and classes? Q. How far in advance are you planning events and classes?
  20. 20. 20Confidential and Proprietary. ©2019 TimeTrade, Inc. All Rights Reserved So why do it? Q. What are your primary business objectives for hosting in-store events and classes? (Select up to 3.)
  21. 21. 21Confidential and Proprietary. ©2019 TimeTrade, Inc. All Rights Reserved Q. What results have you seen to date from hosting events and classes? (Select up to 3.) Brand Revenue Engagement And does it work?
  22. 22. 22Confidential and Proprietary. ©2019 TimeTrade, Inc. All Rights Reserved Q. Who owns the budget for experiential programs? Q. Who develops the larger strategy for events & experiential marketing? Who owns it?
  23. 23. 23Confidential and Proprietary. ©2019 TimeTrade, Inc. All Rights Reserved What are you doing now? Q. What types of events and classes has your brand invested in to date? (Select all that apply.)
  24. 24. 24Confidential and Proprietary. ©2019 TimeTrade, Inc. All Rights Reserved Q. What types of events and classes do you plan to test over the next 24 months? (Select all that apply.) What do you plan on doing?
  25. 25. 25Confidential and Proprietary. ©2019 TimeTrade, Inc. All Rights Reserved Q. What is your biggest challenge when planning and running in-store events/classes? It’s not as easy as it looks
  26. 26. 26Confidential and Proprietary. ©2019 TimeTrade, Inc. All Rights Reserved It’s scheduled, now what? Q. What channels/tactics do you use to promote in-store events? (Select all that apply.)
  27. 27. 27Confidential and Proprietary. ©2019 TimeTrade, Inc. All Rights Reserved Q. Do you require shoppers to pre-register for events or classes? Q. If yes, how? To register, or not to register: that is the question
  28. 28. 28Confidential and Proprietary. ©2019 TimeTrade, Inc. All Rights Reserved If you charge them, will they come? Q. Do you charge for in-store events and classes?
  29. 29. 29Confidential and Proprietary. ©2019 TimeTrade, Inc. All Rights Reserved A look ahead Q. How will your investments in events and classes change over the next 24 months (thru 2020)?
  30. 30. 30 Key takeaways • If you haven’t yet considered adding events and classes to your retail strategy- it’s time to consider it! • Events and classes can take many forms- get creative • Plan ahead- this is a cross functional initiative which the majority of respondents spend 6 months or more planning • What works for one, might not work for all. Try, test and measure to find what works best for your customers, brand, staff and goals.
  31. 31. Confidential and Proprietary. Copyright ©2018 TimeTrade, Inc. All Rights Reserved Experiential Marketing Drives Business & Loyalty Reduce product returns & exchanges TimeTrade customers see the results Lift in sales of featured products by 24-32% Increase store/branch traffic by 3-5% Raise customer loyalty – attendees average 91 Net Promoter Score
  32. 32. Centralized Corporate Management Store level execution TimeTrade Events & Classes solves the administrative headaches related to event management
  33. 33. Confidential and Proprietary. Copyright ©2018 TimeTrade, Inc. All Rights ReservedConfidential and Proprietary. Copyright ©2018 TimeTrade, Inc. All Rights Reserved Omni-channel customer acquisition Your appointments, events and classes must be visible everywhere your customers are. Intelligent personalization To monetize Experiential Marketing, you must intelligently personalize follow-up actions. Success at scale Businesses require consistent branding and messaging, but local control for store operations. 33 Delivering Experiential Marketing at Scale TimeTrade’s new Events and Classes capabilities allow Experiential Marketing to be part of a comprehensive intelligent customer engagement strategy. 33 Confidential and Proprietary. Copyright ©2018 TimeTrade, Inc. All Rights Reserved
  34. 34. Confidential and Proprietary. Copyright ©2018 TimeTrade, Inc. All Rights Reserved CONTACT INFORMATION Confidential and Proprietary. Copyright ©2018 TimeTrade, Inc. All Rights Reserved Web www.timetrade.com sales@timetrade.com Phone +1.978.654.6800 Social @TimeTrade Facebook.com/TimeTrade
  35. 35. #CCS19 Q&A // Panelists Moderator: Alicia Esposito Senior Content Strategist Retail TouchPoints @Alicia_FioEspo Lauren Mead Chief Marketing Officer TimeTrade @LaurLeMe
  36. 36. #CCS19
  37. 37. #CCS19 Thanks for attending Catch up on all of the #CCS19 here: http://webinars.retailtouchpoints.com/connected-consumer-series/2019/

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