Retail Innovation: Omnichannel and The Future of Personalization

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Information about Retail Innovation: Omnichannel and The Future of Personalization

Published on October 13, 2016

Author: NationalRetailFederation

Source: slideshare.net

1. 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

2. In this session you will learn: §  Data > Guessing - let your customers lead §  Internal naviga,on & alignment is cri,cal §  Focus on delivering measurable results

3. About GameStop 2016: ≈$.5B2016: >$1B2016: $8B 2016: ≈$.85B 200+

4. Why Omnichannel? §  Consumer engagement is evolving §  Iden,fy and priori,ze strategic opportuni,es §  A unified vision §  Creates a customer-centric strategy

5. The Path to Omnichannel GameStop found that three areas were instrumental in evolving our strategy. Customer Data & Analy,cs Organiza,onal Acceptance & Alignment Delivering Growth & Value

6. Customer Data & Analy@cs Pre-2010 Fall 2010 Today GameStop Launches Power-up Rewards Loyalty Program GameStop lacked customer data and analy@cs. Insights were ‘guess-work’. GameStop has a wealth of customer data on our most valuable customers. 46M+ 71% Loyalty Members Worldwide That account for ….. of our Business GameStop Loyalty Programs

7. Case Study #1 A Focus on Mobile

8. Key Insights Our Customer was already engaging across channels Online is 5% of Sales But 60%+ of Customers Go There to Engage 5% 60% Buy Visit 26% of online Visitors (Non-buyers) Buy in Store Within 48 Hours 26% Buy Mobile App Users outperformed our Pro Members 81% Spend More: 53% Trade More: 79% Buy More Pre-owned:

9. Online influenced in-store sales Through Power-Up Rewards, we can beLer understand how customers engage with our online channels to drive in-store revenue. “Influenced Revenue” When a customer engages online with GameStop, then makes a relevant purchase, trade and/or reserva,on in-store within 72 hours of their online visit.

10. Key Insight For every $1 of direct sales online, our online channels are influencing 10X That amount in Stores

11. Mobile Opportunity How many people did we have thinking about and working on mobile full ,me? 0

12. Gaining Alignment How did we get the organiza,on on board with an investment into a new App? •  A/B tested our hypothesis and built a business case showing a large return on investment within the first 3 months. •  Added the incremental revenue and profit to our annual plan to back up the business case.

13. Delivering Results Allow me to look up the value of my old games. Simplify tracking my pre-orders and reserva,ons. I want to use my phone to hold a product and pick it up in store, but it’s too complicated. Make it easy to find the products I’m looking for. 180% increase of influenced in-store trades 460% increase of influenced in-store reserva,ons 5X increase in Pick-up at Store requests. 415% Increase in direct revenue growth.

14. Case Study #2 Ship from Store

15. Key Insight 66% of our unique SKUs could only be found in stores.

16. Ship from Store Opportunity What if we…. 1.  Could expose all of that inventory across our various channels, both physical and online? 2.  Expand our distribu,on op,ons beyond our warehouses? 3.  Provide closer ship-from loca,ons to our consumers, reducing transit ,mes and providing beLer service?

17. Gaining Alignment How did we get the organiza,on to even understand this? We didn’t…….at first. •  Quietly launched a small pilot in stores with only bringing in the cri,cal people who could make it happen, and stores received credit for the sales. •  By the ,me we introduced the concept to the rest of GameStop, we had a running pilot for 3 months and those stores were outperforming non-pilot stores by 15-20%. Alignment came from proof, not from verbal idea,on.

18. Delivering Results Ability to redirect orders to a store Unique, in-stock available SKUs across all channels Number of distribu,on points Average transit ,me to consumer (ground shipping) No 6,800 2 3-5 Days (from warehouse) Before Ship from Store (pre Feb 2016) Aler Ship from Store (post Feb 2016) Yes 18,000+ 3850 1-2 Days (from stores)

19. Distribu@on before Ship-from-Store

20. Distribu@on aler Ship-from-Store

21. Delivering Results 2016 YTD of our omnichannel revenue is ship-from-store. 13% of our omnichannel revenue is from cross-channel services (web-in-store, pick-up in store, and ship-from-store.) 66%

22. So…… ??? How are you thinking about your omnichannel strategies?

23. What’s right for the customer + What’s right for the business Success The sweet spot. Requires discipline and is more difficult to define opportuni,es that accomplish both. Common Sense

24. To recap on today’s takeaways… Understand your Customers Understand your Organiza,on Deliver Measurable Results

25. Case Studies

26. 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

27. Retention and Loyalty •  Re-activate your consumers! ! •  Continue and strengthen the relationship! •  Enhance the experience! ! •  3x more redemption of codes! ! Case Study #2

28. CRM ++ •  API Integration! •  Streamlining the process! ! •  Instant engagement with your client! Case Study #3

29. To recap on today’s takeaways… ▪  Being though,ul is GOOD for business ▪  Some7mes the Old becomes the NEW ▪  Content is KING

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