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NRF Big Show

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Earlier this year we attended the National Retail Federation’s (NRF) Annual Convention and EXPO, also known as “Retail’s Big Show”. Held in New York City, this year’s hot topics included omni-channel retail, big data, mobile-first initiatives, point of sale (POS) innovation, and the connected store of the future.

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NRF Big Show

  1. 1. The NRF “Big Show” Lunch & Learn ~ February 27, 2014 Proprietary & Confidential 1
  2. 2. The National Retail Federation NRF Big Show = Annual Convention Shop.org = Digital retail industry Proprietary & Confidential 2
  3. 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. 4. Credit: LAI Video via Vimeo Proprietary & Confidential 4
  5. 5. Credit: NRF via Flickr 5 Proprietary & Confidential
  6. 6. Credit: Proprietary & Confidential http://onegociodovarejo.com.br/ 6
  7. 7. Credit: NRF via Flickr Proprietary & Confidential 7
  8. 8. Credit: NRF via Flickr Proprietary & Confidential 8
  9. 9. Credit: NRF via Flickr Proprietary & Confidential 9
  10. 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. 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. 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. 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. 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. 15. Omni-Channel Model Credit: The Future of Retail: Trends To Act On, by PSFK, 2014 Proprietary & Confidential 15
  16. 16. Omni-Channel Fulfillment Credit: Mobile Innovation As A Roadmap to Customer Success, NRF, January 13, 2014 Proprietary & Confidential 16
  17. 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. 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. 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. 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. 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. 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. 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. 24. Big data gets real Data as a critical resource for building business value through informed decisions and personalized experiences. Proprietary & Confidential 24
  25. 25. Big Data Credit: http://www.onlineevent.com/NRF/annual13/A-New-Era-of-Value-A-Conversation-with-Ginni-Rometty/ Proprietary & Confidential 25
  26. 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. 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. 28. The POS Cycle Analog Digital Java Based Scanners mPOS 60s 70s 80s 90s 10s Proprietary & Confidential 28
  29. 29. The future of Nordstrom point of sale systems is completely mobile. - Jamie Nordstrom, President, Nordstrom Inc. Proprietary & Confidential 29 2
  30. 30. The unified commerce platform Credit: Digitizing the Store: What’s the Future of POS?, January 14th, NRF Proprietary & Confidential 30
  31. 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. 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. 33. Hointer – the connected store Omnicart eTag Sales Associate Tools Connected Change Rooms Credit: Hointer, www.hointer.com Proprietary & Confidential 33
  34. 34. Rethinking the fitting room Proprietary & Confidential 34
  35. 35. Redefining the store Credit: Redefining the Customer Experience Gives a Whole New Meaning to Window Shopping - January 13, 2014 Proprietary & Confidential 35
  36. 36. Redefining the store Credit: Redefining the Customer Experience Gives a Whole New Meaning to Window Shopping - January 13, 2014 Proprietary & Confidential 36
  37. 37. Interactive Store Fronts Credit: Redefining the Customer Experience Gives a Whole New Meaning to Window Shopping - January 13, 2014 Proprietary & Confidential 37
  38. 38. Interactive Store Fronts Credit: Redefining the Customer Experience Gives a Whole New Meaning to Window Shopping - January 13, 2014 Proprietary & Confidential 38
  39. 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. 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. 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. 42. Positioning mobile at the centre Credit: Mobile Innovation As A Roadmap to Customer Success, NRF, January 13, 2014 Proprietary & Confidential 42
  43. 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. 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. 45. Implications for Nurun & Clients Proprietary & Confidential 45
  46. 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. 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. 48. Thank You. Proprietary & Confidential 48

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