1/19/2016
#inspiringretail
In-Store Analytics: How to Organize Internally for Maximum Impact
Meet The Panel Kent Bassett VP, Corporate and Retail Consumer Insights VF Corporation
Jeff Fisher Global Store Experience & Visual Merchandising Director Sunglass Hut at Luxottica Group
Shelley E. Kohan VP, Retail Consulting RetailNext, Inc. Professor, Fashion Institute of Technology, State University of New York
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RETAILNEXT OVERVIEW
250+
50+
10,000+
customers globally
countries
stores and malls
$184M
200%
2007
total funding
YOY growth
year founded
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MATURITY CURVE/LADDER
Foundational measurements Adherence to procedures Management reporting
Points of friction removed Traffic & engagement measurements
Merchandising, visual displays
U N D E R S TA N D I N G SHOPPERS IN STORE
New–repeat–loyal shoppers Demographics & Geo-origin Shopper mobile browsing &
Staff/shopper Guest Wi-Fi personalization Proximity marketing
searches
& window effectiveness
STORE PERFORMANCE O P T I M I Z AT I O N
Full path to purchase Marketing effectiveness Predictive analytics
INCREASING VALUE
STORE O P E R AT I O N A L EFFICIENCY
STORE EXPERIENCE O P T I M I Z AT I O N
SHOPPING ENGAGEMENT & P E R S O N A L I Z AT I O N
I N C R E A S I N G M AT U R I T Y & S O P H I S T I C AT I O N
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RETAIL 2020 OUTSIDE THE STORE
1.
Shopper journey well understood & optimized
INSIDE – THE SHOPPER
2.
Friction points removed
3.
Role of associates revised
AT THE DOOR
INSIDE – THE EXPERIENCE
How do retailers get to this level and win the organizational support to maximize the impact of the shopper journey? 5
An Overview
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For decades, people everywhere - and by everywhere, we mean the over 3,000 Sunglass Hut locations in over 40 countries - have flocked to our brand. A true industry leader, Sunglass Hut has helped fuel a modern phenomenon that’s too easy to love: the democratization of luxury.
FOUNDER Dr. Sanford Ziff
FIRST SUNGLASS HUT STORE, FOUNDED IN 1971 Miami, FL
Shoppers, rejoice.
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Our Mission
Establish Sunglass Hut as the authority and key destination for fashion, style and premium sunglasses
Our Vision
Create loyalty beyond reason through consistently delivering our brand experience, leaving our customers surprised and delighted
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PRODUCT
PLACE
PEOPLE
CULTURE CULTURE
We We offer offer the the world’s world’s most most iconic, iconic, desirable, desirable, authentic brands. authentic designer brands.
We We tell tell stories. stories. We We make make itit fun fun and and easy easy to to shop. shop. Always inspiring, stimulating Always inspiring, stimulating and and surprising. surprising.
Our Our people people have have a a passion passion for for fashion. fashion. They’re They’re sunglass sunglass junkies, junkies, style style leaders leaders and and people people people. people.
Our culture culture isis our our Our differentiator. differentiator.
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Our brand promise
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A truly
GLOBAL BRAND… With a truly
GLOBAL PRESENCE
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OVER 3,300 STORES Australia, Bahrain, Brazil, Canada, Chile, China, Egypt, Germany, Hong Kong, India, Ireland, Italy, Jordan, Kazakhstan, Kuwait, Lebanon, Malaysia, Mexico, Morocco, Namibia, New Zealand, Peru, Philippines, Portugal, Qatar, Saudi Arabia, Singapore, South Africa, Thailand, The Netherlands, Spain, Turkey, UAE, United Kingdom, United States
Selling 15 PAIRS of sunglasses A MINUTE
Opening 1 STORE PER DAY
Present in 40+ COUNTRIES
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Corporate Services • Coordinate Retail Labs for brands; identify shopper behavior Shopper principles Insights • Build shopper insight capabilities at corporate and our brands; provide resourcing, best practices, seed money • Identify, experiment and test solutions to shifting shopper behavior / industry transformations / macro trends with VF capabilities
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Brand-Led Initiatives • New store prototyping Shopper • Retail lab findings Insights • Path-to-purchase drivers / barriers • Merchandise and product testing • CRM • ETC
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Corporate Services • Traffic and conversion tracking Direct To • CRM services and best practices Consumer • Real estate location and negotiation Services • DTC Technology roadmap and implementation (DTC) • Store operations best practices, e.g.; • Labor • District Manager competencies • Merchandise excellence • Ecom fulfillment
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HOW TO ORGANIZE INTERNALLY FOR MAXIMUM IMPACT Representing over 30 prominent brands in the industry, VF Corp is a complex business model encompassing both wholesale and retail operations. How are analytics decisions made across the brands and are there economies of scale in play to reduce costs and optimize execution strategies to help reinvent the store experience?
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HOW TO ORGANIZE INTERNALLY FOR MAXIMUM IMPACT Based on SGH‘s global nature of business model across over 40 countries, how can you navigate the various cultures, customs and legalities of deploying “best in class shopper experience” in the stores and, at the same time, gain support from the internal functions to support the initiatives?
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HOW TO ORGANIZE INTERNALLY FOR MAXIMUM IMPACT Given the amount of “brand” identity and differentiation across the VF brands, are you able to benchmark or use best practices to help reduce friction points across the shopper journey? Are these friction points varied by brand?
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HOW TO ORGANIZE INTERNALLY FOR MAXIMUM IMPACT The business model for SGH is unique in that you represent almost 40 brands with a small foot print of retail floor space so from a logistics perspective the operational model is complex. How can you make decisions about which capabilities to deploy to enhance the in-store shopping experience and remove shopper friction points?
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HOW TO ORGANIZE INTERNALLY FOR MAXIMUM IMPACT There is a plethora of enabling technologies on the market which have clear ROI, positive attributes to grow sales or build brand loyalty, or improve operational aspects of the business, how can you determine the best fit for the individual VF brands?
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HOW TO ORGANIZE INTERNALLY FOR MAXIMUM IMPACT When looking at insights from SGH data collected in the stores, can you find patterns that are similar across the various countries? How can these be communicated consistently throughout the various countries with different management teams and functions that are leading the business?
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Talk to Us After the Panel!
[email protected]
[email protected]
[email protected] @retailshelley
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