The Brave New World of Retail:
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Transcript of The Brave New World of Retail:
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The Brave New World of Retail:
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The Brave New World of Retail
Wade AllenVice President of Retail at Rockfish Interactive
Devora RogersDirector of Product, Retail IPG Media Lab and Shopper Sciences
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Supplier powerSupplier power
Distribution
Retailer powerRetailer power
Negotiation
Shopper powerShopper power
Information
Shopping transformation
Retail 1.0 Retail 2.0 Retail 3.0
Retail Evolution
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Are we giving shoppers what they want?
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Can Evolution of Retail Tech Ease Shopper Barriers?
Information Confidence Validation
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Across all categories, shoppers get stuck in the purchase process based on three ‘barrier nodes’ at or above SHS norms
Across all categories, shoppers get stuck in the purchase process based on three ‘barrier nodes’ at or above SHS norms
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Smart Phone Growth & Shopper Influence
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Changing the way we shop• Mobile barcode scanning TRIPLES on Black
Friday
• Paypal cites 310% increase in mobile shopping on Black Friday
• 73% of mobile users prefer to use their smartphones for simple tasks rather than interact with an employee.
Sources: MobileMarketer, Paypal, Accenture
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Retail 2020
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Augmenting Retail Reality
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Invisible Pop-Up Store Airwalk and GoldRun
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Creating Interactive Brick and Mortar
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Interactive Gestural Experiences
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Easing Apprehension
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Adding Transparency
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Virtual Sampling
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Simplifying Digital Couponing
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In-Hand Research and Purchase
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Check out Anywhere…with anything
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Centralized Customer Service 4G Content Delivery
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Group Clout
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Social Persuasion
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Purchase Show and Tell
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Dynamic Audience Measurement
In-store content management system that uses face recognition to capture audience information and dynamically serve demographically relevant messaging as traffic fluctuates during business hours.
System also provides metrics.
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The most profound technologies are those that disappear. They weave themselves into the fabric of everyday life until they are indistinguishable from it.
-Mark Weiser, 1991 “The Computer for the 21st Century” Scientific American
Powerless Printed Coil Technology
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But technology isn’t enough.
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Virtual Tour of IPG Media Lab’s Retail Center
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APPENDIX
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Q17 - If haven't bought yet, what prevents you from purchasing? (CIRCLE ALL THAT APPLY)
Lack of confidence was the top factor inhibiting purchase
Despite being highly confident
before shopping, the sample
reported the shopping experience
was still significantly confidence-
inhibiting