Retail Innovation: Omnichannel and The Future of Personalization
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Retail Innova,on: Omnichannel and The Future of Personaliza,on Jason Allen VP Mul,channel GameStop Inc Presented: September 28, 2016 at Retail’s Digital Summit MaL White Director of Sales Bond, a division of Newell Brands
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Transcript of Retail Innovation: Omnichannel and The Future of Personalization
RetailInnova,on:OmnichannelandTheFutureofPersonaliza,on
JasonAllenVPMul,channelGameStopInc
Presented:September28,2016atRetail’sDigitalSummit
MaLWhiteDirectorofSales
Bond,adivisionofNewellBrands
Inthissessionyouwilllearn:
§ Data>Guessing-letyourcustomerslead
§ Internalnaviga,on&alignmentiscri,cal
§ Focusondeliveringmeasurableresults
AboutGameStop
2016: ≈$.5B 2016: >$1B 2016: $8B 2016: ≈$.85B
200+
WhyOmnichannel?
§ Consumerengagementisevolving
§ Iden,fyandpriori,zestrategicopportuni,es
§ Aunifiedvision
§ Createsacustomer-centricstrategy
ThePathtoOmnichannelGameStopfoundthatthreeareaswereinstrumentalinevolvingourstrategy.
CustomerData&Analy,cs
Organiza,onalAcceptance&Alignment
DeliveringGrowth&Value
CustomerData&Analy@cs
Pre-2010 Fall2010 TodayGameStopLaunchesPower-upRewardsLoyaltyProgram
[email protected]‘guess-work’.
GameStophasawealthofcustomerdataonourmostvaluablecustomers.
46M+ 71%LoyaltyMembersWorldwide
Thataccountfor…..
ofourBusiness
GameStopLoyaltyPrograms
CaseStudy#1
AFocusonMobile
KeyInsights
OurCustomerwasalreadyengagingacrosschannelsOnlineis5%ofSales
But60%+ofCustomersGoTheretoEngage
5% 60%Buy Visit
26%ofonlineVisitors(Non-buyers)BuyinStore
Within48Hours
26%Buy
MobileAppUsersoutperformedourPro
Members
81%SpendMore:
53%TradeMore:
79%BuyMorePre-owned:
Onlineinfluencedin-storesales
ThroughPower-UpRewards,wecanbeLerunderstandhowcustomersengagewithouronlinechannelstodrive
in-storerevenue.
“InfluencedRevenue”WhenacustomerengagesonlinewithGameStop,thenmakesarelevantpurchase,tradeand/orreserva,onin-storewithin72
hoursoftheironlinevisit.
KeyInsightForevery$1ofdirectsalesonline,our
onlinechannelsareinfluencing
10XThatamountinStores
MobileOpportunity
Howmanypeopledidwehavethinkingaboutandworkingonmobilefull,me?
0
GainingAlignment
Howdidwegettheorganiza,ononboardwithaninvestmentintoanewApp?
• A/Btestedourhypothesisandbuiltabusinesscaseshowingalargereturnoninvestmentwithinthefirst3months.
• Addedtheincrementalrevenueandprofittoourannualplantobackupthebusinesscase.
DeliveringResultsAllowmetolookupthevalueofmyoldgames.Simplifytrackingmypre-ordersandreserva,ons.Iwanttousemyphonetoholdaproductandpickitupinstore,butit’stoocomplicated.MakeiteasytofindtheproductsI’mlookingfor.
180% increaseofinfluencedin-storetrades
460% increaseofinfluencedin-storereserva,ons
5X increaseinPick-upatStorerequests.
415% Increaseindirectrevenuegrowth.
CaseStudy#2
ShipfromStore
KeyInsight
66%ofouruniqueSKUscouldonlybe
foundinstores.
ShipfromStoreOpportunity
Whatifwe….1. Couldexposeallofthatinventoryacrossourvarious
channels,bothphysicalandonline?
2. Expandourdistribu,onop,onsbeyondourwarehouses?
3. Provideclosership-fromloca,onstoourconsumers,reducingtransit,mesandprovidingbeLerservice?
GainingAlignment
Howdidwegettheorganiza,ontoevenunderstandthis?
Wedidn’t…….atfirst.
• Quietlylaunchedasmallpilotinstoreswithonlybringinginthecri,calpeoplewhocouldmakeithappen,andstoresreceivedcreditforthesales.
• Bythe,meweintroducedtheconcepttotherestofGameStop,wehadarunningpilotfor3monthsandthosestoreswereoutperformingnon-pilotstoresby15-20%.Alignmentcamefromproof,notfromverbalidea,on.
DeliveringResults
AbilitytoredirectorderstoastoreUnique,in-stockavailableSKUsacrossallchannelsNumberofdistribu,onpointsAveragetransit,metoconsumer(groundshipping)
No6,8002
3-5Days(fromwarehouse)
BeforeShipfromStore(preFeb2016)
AlerShipfromStore(postFeb2016)
Yes18,000+3850
1-2Days(fromstores)
Distribu@onbeforeShip-from-Store
Distribu@onalerShip-from-Store
DeliveringResults
2016YTDofouromnichannelrevenueisship-from-store.13%ofouromnichannelrevenueisfromcross-channelservices(web-in-store,pick-upinstore,andship-from-store.)66%
So……
???Howareyouthinkingaboutyour
omnichannelstrategies?
What’srightforthecustomer+
What’srightforthebusiness
SuccessThesweetspot.Requiresdisciplineandismoredifficulttodefineopportuni,esthataccomplishboth.
CommonSense
Torecapontoday’stakeaways…
UnderstandyourCustomers
UnderstandyourOrganiza,on
DeliverMeasurableResults
Case Studies
Engagement!!
• Create a meaningful experience !!• Separating yourself from competition!!• Make them customers for life!
• 8x ROI in two weeks!
• Consumers returning 2/3 less products!!
Case Study #1
Retention and Loyalty
• Re-activate your consumers!!• Continue and strengthen the relationship!
• Enhance the experience!!• 3x more redemption of codes!!
Case Study #2
CRM ++
• API Integration!
• Streamlining the process!!• Instant engagement with your client!
Case Study #3
Torecapontoday’stakeaways…
▪ Beingthough,ulisGOODforbusiness
▪ Some7mestheOldbecomestheNEW
▪ ContentisKING
