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The Store is Media: Reengineering Frontline Teams for the New Age of Retail
The document discusses the need for reengineering frontline retail teams in light of evolving consumer behavior and technology in the retail sector. It highlights the increasing importance of knowledgeable associates, the role of technology in enhancing customer experience, and the shifting demographics of the consumer base, particularly the rise of millennials. Additionally, it emphasizes the necessity for retail businesses to adapt to customer expectations and enhance their service and operational practices.
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The Store is Media: Reengineering Frontline Teams for the New Age of Retail
- 1. #CCS19 The Store isMedia: Reengineering Frontline Teams for the New Age of Retail SPONSORED BY:
- 2. #CCS19 Follow this eventon LinkedIn & Twitter Retail Touchpoints: @RTouchPoints Andrew Gaffney: @Agaffney Axonify: @Axonify Retail Prophet: @RetailProphet
- 3. #CCS19 About Retail TouchPoints Launched in 2007 Over 45,000 retail subscribers To provide executives with relevant, insightful content across a variety of digital medium Sign up for our weekly newsletter: www.retailtouchpoints.com/subscribe
- 4. #CCS19 Prize Pack:Register & Attend to Win Earn 1 automatic entry when you register and a second entry when you attend live. Register For & Attend #CCS19 Webinars For the Best Chance to Win! • Free Pass to #RIC19 in NYC May 6th-8th – 1 Winner Per Day • Apple AirPods – 1 Winner • $10 Starbucks Gift Cards – 1 Winner Per Session
- 5. #CCS19 Questions, Tweets &Resources Submit your questions here Download today’s resources Join the conversation #CCS19
- 6. #CCS19 Panelists Doug Stephens Founder &President Retail Prophet @RetailProphet Moderator: Andrew Gaffney Executive Editor Retail TouchPoints @Agaffney
- 7. The Store isMedia @RetailProphet RetailProphet.com Doug Stephens Reengineering Frontline Teams for the New Age of Retail
- 10. 2.9 Trillion in2018 + 22%
- 11. 0 3.75 7.5 11.25 15 18.75 2015 2016 20172018 2019 2020 Worldwide Ecommerce as a % of Total Retail Emarketer 2016 1.548 1.915 2.352 2.860 3.418 4.058 (Trillions)
- 12.
- 15. 0 8 16 24 32 40 ALIBABA SINGLES DAYSALES TIFFANY & CO MARKET CAPUSD Billions
- 16. 66% of productsearches begin on Google. Feedvisor 2019
- 17. 76% 10% 5% 4%4% Amazon Search EngineBrand Website Retailer Website Another Marketplace Where consumers go when ready to buy a specific product Feedvisor 2019
- 18. The End of theBeginning of Ecommerce
- 19.
- 20. 0 7.5 15 22.5 30 Total Global RetailTotalGlobal Ecommerce Trillions USD
- 21. 0 7.5 15 22.5 30 Total Global RetailTotalGlobal Ecommerce Trillions USD
- 27.
- 28.
- 29.
- 30. Smart Packaging IoTAppliances
- 32. • Step-in structure •Sensor driven sales and replenishment • Predictive inventory selection
- 35.
- 36. 1838 1980 2019 ThePurpose of a Store
- 37.
- 38. Media IS theStore
- 39. The Old RoleOf Stores • merchandise products • offer product information • facilitate purchase
- 40. Media IS theStore Magazines Videos Smart TV Out of HomeSocial Music/Sound Devices AI Internet of Things
- 43. So, why havestores?
- 44. The Store ISMedia
- 45. Media is effectivewherever people gather in numbers.
- 50. 98M / WK2.5M / WK
- 51. The Days ofthe Clerk are Over • Nearly half of shoppers (48%) believe that they typically know more about a retailer’s product than the store sales associate • 67% sometimes have doubts around whether associates are telling the truth
- 52. 0 25 5075 100 125 Loan Officers Receptionist and Information Clerks Paralegals and Legal Assistants Retail Sales People Taxi Drivers and Chauffeurs Security Guards Cooks/ Fast Food Computerizable Jobs Oxford University 2015
- 53.
- 54. • Nearly 50%said a knowledgeable store associate would encourage them to shop in- store • 72% that dealt with a store associate who uses a mobile device to provide things like product info, credit card checkout, and inventory look-up, said it resulted in a better shopping experience • 73% would be interested in having a store associate text or email them about the status of their order or that their order has arrived in the store And yet… Tulip Retail 2018
- 55. Customer Identification Customer Engagement AssociateTraining and Task Management Mobile POS People who work with outdated technology “feel less productive, are 750% more likely to be frustrated and 450% more likely to want to quit. “ Unisys 2018
- 57. The Role ofPeople • Inventory managers • Checkout processors • Data gatherers • Returns processors • Product trainees • Brand storytellers • Product geniuses • Dynamic problem solvers • Expert demonstrators • Goodwill ambassadors Present Future
- 58. Micro-learning • Onboarding • Microlearning •Gamification • Reward-based • Mixed-media format • Personalized and Adaptive Mobile Training
- 59. Service Priority: 3 Safety Priority: 2 Products Priority:1 Brand Priority: 4 20% 75% 55% 60% Service Priority: 3 Safety Priority: 2 Products Priority: 1 Brand Priority: 4 65% 75% 5% 20% • New to the company • Previous experience as Cashier at another grocery store Peter Alice SUSTAINEDKNOWLEDGE 100% 100% • 1 year with company • Changing roles from Stock Clerk to Cashier 82%85%88% 96% 94%96%93% 86% Image: Axonify
- 60. Agency to ProvideDiscounts and/or Promotions Career Growth Opportunities Perks and Benefits
- 61. 10 30 90 70 50 Projected US Populationby Generation Millions 2016 ‘19 ‘28 ‘36 ‘50 Millennial Boomer 74 71 Silent 66 23 Pew Research Center 2016 2019 marks the first year in which millennials outnumber baby boomers in the U.S.
- 62. 60.75 63 65.2567.5 69.75 72 74.25 76.5 They have poor service They don’t pay employees well They rely on business practices that are unethical CEO paid disproportionately to employees Morning Consult 2018 Q: Think of a company you currently buy from. If you found out a company did each of the following, how much LESS likely would you be to shop there?
- 63.
- 66.
- 67. #CCS19 Q&A // Panelists DougStephens Founder & President Retail Prophet @RetailProphet Moderator: Andrew Gaffney Executive Editor Retail TouchPoints @Agaffney
- 68.
- 69. #CCS19 Thanks for attending Catchup on all of the #CCS19 sessions here: http://webinars.retailtouchpoints.com/connected-consumer-series/2019/
Editor's Notes
- #5 #CCS19 Giveaway Slide We’re also hosting a special sweepstakes throughout the week-long series, where attendees can win prizes like Apple Airpods, Starbucks Gift Cards, as well as a free ticket to our annual Retail Innovation Conference in New York City, which will take place in May 2019. Each of you watching already earned one entry into the drawing by registering for this session, and if you’re attending this webinar live right now, you will receive a second entry as well. Throughout the series, you will earn one entry for each CCS19 webinar you sign up for and an additional entry for each session you attend live. We’ll be giving away a total of 5 free tickets and will be announcing a winner each day of the series so be sure to stay tuned in all week long for your best chance to win!
- #6 In addition to joining the conversation online and submitting your questions here, we also welcome and encourage you to participate by letting us know how we’re doing. In an effort to constantly improve the level of value we provide to our audience members, we’ve put together a very brief survey that will automatically launch once this webinar session ends. However, you can pull up, complete and submit the survey at any time during this webinar by clicking on the survey icon in the task bar on the bottom of your screen. You can see the survey icon circled here in black on this slide. Before signing off today, please take a moment to complete this quick questionnaire. We appreciate and value your feedback and look forward to hearing from you.
- #9 NUMBER OF STORES THAT ARE EXPECTED TO CLOSE IN NORTH AMERICA THIS YEAR.
- #11 DATA MIGHT SUPPORT
- #12 By 2023: 25% OF ALL US RETAIL
- #14 PER MINUTE
- #19 LAUNCHED IN BIRMINGHAM
- #23 Forrester BY 2017
- #24 LEVIS VIRTUAL STYLIST
- #31 SENSOR ENABLED PACKAGES AND APPLIANCES
- #34 2.3 BILLION IN FUNDING: ALIBABA
- #39 ANYTHING YOU WANT. EVEN BEFORE YOU KNOW YOU WANT IT.
- #57 BEVY UP and MESSAGE YES
- #60 Our adaptive learning engine is the driver behind the continuous, personalized learning that Axonify delivers to your employees on a daily basis. To illustrate how it works at a high level, here we have 2 new employees, Peter and Alice. <click> Knowledge across all 4 of these topics is critical to success as a sales associate. This organization knows that product knowledge is most important to the performance in the role, followed by safety, service and finally brand. The figures you see here is what we refer to as their knowledge baseline –something that Axonify measures during their first daily training sessions in each subject area. This helps our adaptive learning algorithm understand an individual’s strengths and weaknesses. <click> Peter has been with the company for about a year in a warehouse role but is shifting departments to be a sales associate where he’ll be interacting with customers in the storefront. He has a decent baseline knowledge (acquired while in the warehouse) on the products, brand and safety policies and procedure of the company. But because he’s been in the back office, he’s weak in the are of customer service. Alice on the other hand is brand new to the company and will also be starting as sales associate. She’s a seasoned sales associate bringing with her a solid baseline of safety and customer service knowledge. As she’s new to the company however, she isn’t familiar with the company brand or the specific details around the broad range of products they carry. <click> Based on each individual’s strengths and weaknesses along with priority of the training (topic priorities can be set), Axonify’s adaptive learning engine immediately tailors the daily learning experience for both peter and alice. In other words, Axonify starts to adapt learning for each based on their unique knowledge gaps (strengths and weaknesses). Peter’s daily learning experience will be different than Sarah’s The end goal is to get everyone to high sustained knowledge across all topics, in the most effective and efficient manner possible in a way that drives business results. Our Adaptive learning engine goes beyond path-based learning or branching – it’s the pinnacle of personalized.
- #61 A study conducted in 2017 by a pharmaceuticals company concluded that not only does this have positive implications for the employer and employee, but also makes a positive difference in customer retention.