FC Tech Group presented their SXSW recap at Olapic's NY office on April 4, 2016. These are the slides focus on the three themes pulled from SXSW sessions surrounding retail, e-commerce, fashion, digital marketing, & tech.
“61% respondents have more faith in technology based
solutions, than policy measures to combat society’s problems.
We cannot solve the problems in government and collectively
as a society, unless we the people are paying attention.”
Barak Obama
Tech Sector should do something about it.
U.S. is the most over-retailed country in the
world.
For every man, woman and child, we have 46
sqft of retail space.
75% of total retail spending happens within
15 miles of home
Healey Cypher, Oak Labs
SHOWROOMING
40% increase in basket when customers use
multiple touchpoints
WEBROOMING
72%
78%
Healey Cypher, Oak Labs
“We need to eliminate the
terminology of online &
offline, because really it’s
ONE experience.”
Ethan Song, Frank & Oak
Today that experience needs to be an
emotional one.
• Takes more than 7 days for average US consumer to
finalize a transaction.
• Visit more than 6 different websites to find products, read
reviews, check promotions, before completing a
purchase.
• Customers today put a lot of work into finding products
they identify with.
• For every minute your customer puts into their
experience with your brand, your brand should put in 10
xxOliver Lubin, ThreadUP; Orkun Atik, Mona; Ruth Hartman, Le Tote; Eliza Brooke, Fashionista
BRANDS + PRODUCTS AS A
RELATIONSHIP
Jess Beck, Alfred; Benjamin Doherty, Favor; Cory Rellas, Drizly; Jordan Metzner, Washio
Power to create real interaction, to carry on story, to connect
on individual level.
“Why do we need to rename paying customers?”
PARTICIPATION IS THE NEW BRAND LOYALTY.
THE ERA OF TRANSACTIONS IS OVER.
Now, we need to create experiences people want to engage
in, not just products that satisfy their needs.
LOCAL
Rick Badgley, Toms; Lacey Norton, Kit & Ace; Ethan Song, Frank and Oak
You never want people to feel that the time it took to interact
with your brand was a waste of time, and not worthwhile.
EFFICIENCY
Jess Beck, Alfred; Benjamin Doherty, Favor; Cory Rellas, Drizly; Jordan Metzner, Washio
• Fashion is a $2.5T dollar industry
• 80% women in the supply chain
• 1 in 6 people work in a fashion-related job
• Industry has 2nd highest use of water
• Contribute to 10% of the world’s carbon footprint
• 2nd highest polluting industry
• 85% of our textiles hit landfills
• In 38 of our 50 states, landfills at or near capacity
FACTS
Cara Smyth, Glasgow Caledonian University
• 18 bits of trash, from 7 different countries
• Just by making it 15 pieces saves millions of dollars/year
• Removed enough pins in 1 season to stretch from NY to
LA and back again
Cara Smyth, Glasgow Caledonian University
MEN’S DRESS SHIRT
MILLENNIALS & GEN Z
Anna Fieler, POPSUGAR; Jaclyn Ling, Kik; Michelle Castillo, CNBC; Shireen Jawan, Lucky Brand
• Millennials want to simplify their lives, don’t want
to be weighed down by traditional ownership
• Experience seeking, instead of Material seeking
MILLENNIALS
Anna Fieler, POPSUGAR; Jaclyn Ling, Kik; Michelle Castillo, CNBC; Shireen Jawan, Lucky Brand
• Differences in attention span, (8 seconds vs 12 seconds)
• 2x more likely to shop on mobile
• 2x more likely to use YouTube + much less likely to use
Facebook
• 3x more likely to open a push notification through a chat
message than an email
• Gender binaries are changing, less rigid definition of
what it means to be a boy or a girl.
• 44% Gen Z said always buy clothes designed for own
gender
GEN Z
Anna Fieler, POPSUGAR; Jaclyn Ling, Kik; Michelle Castillo, CNBC; Shireen Jawan, Lucky Brand