6. 4. INNOVATE LIKE ONLY ROMANIANS CAN COPY MODIFY CREATE Introduce global formats that already exist Modify existing concepts to better match local needs Develop new concepts, targeting specific local segments and needs DEGREE OF INNOVATION FUTURE LAB
7. POP Systems Online RETAIL INNOVATION, ACCORDING TO MANY FUTURE LAB
8. BRANDS Be the first to become friendly with your new customers Help your existing distribution to « make the jump » Pro-actively say goodbye to those who canât or wonât innovate. RETAILERS/INVESTORS Be first to bring a (modified) format into the market Come with something « unique » which internationals canât offer Get out of the way and sell as expensive as possible. FUTURE LAB THEN, GO TO WORK
9. FUTURE LAB Source: IBM Business Consulting Services â The Retail Divide, 2004 BUT WE WILL START WITH INNOVATION FROM A STRATEGIC PERSPECTIVE And to be more precise: « customer centric retail innovation »
23. Apple Retail 2001 Sorry Steve, Apple Stores Wonât Work (Business Week) Apple Retail 2004: Fastest retailer ever to reach the $1 billion mark a year Apple Retail 2006 Fastest retailer ever to reach $1 billion/quarter mark Apple Retail 2007 Sales per sq.meter = $ 30,176 (as comparison: BestBuy = $10,643) FUTURE LAB HOW DID THEY DO IT? Watch video on http://www.youtube.com/watch?v=m-Y7vZMEPrU
24. DRIVERS FOR RECOMMENDATION IN ICT Source: Net Promoter âą Economics: the Impact of WOM, Satmetrix, 2008 FUTURE LAB
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27. Source: Net Promoter âą Economics: the Impact of WOM, Satmetrix, 2008 Apple: 2007 Net Promoter Performance and 5 Year Trend vs. Overall B2C High Tech Computer Hardware Manufacturers RESULTS FUTURE LAB
28. Total Customer Value of an Apple advocate is almost twice that of the industry average Source: Net Promoter âą Economics: the Impact of WOM, Satmetrix, 2008 FUTURE LAB RESULTS
29. Revenue Growth % 2007 vs 2008 Source: Fortune Magazine, May 5,2008 RESULTS FUTURE LAB
30. HOW ABOUT YOU? FUTURE LAB 5 steps To Customer Centric Retail Innovation
31. Image by : Zombiefactory, CC-license 2.0 #1 TAKE THE CUSTOMER PERSPECTIVE FUTURE LAB
33. CUSTOMER PERSPECTIVE Flipchart Time Which are the steps in the customer journey when booking a holiday? How could you innovate on them? FUTURE LAB THE CUSTOMER JOURNEY
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35. TRAVEL Photo Nils Bremer, cc. 2.0 FUTURE LAB BANKING CARS FOOD How About You? CUSTOMER PERSPECTIVE THE CUSTOMER JOURNEY
36. #2 GET THE CUSTOMER HEARTBEAT FUTURE LAB Photo: Joeannenah, cc: 2.0
45. High Low Low High Customer Engagement Innovation Intensity CROSS YOUR INNOVATION LANDSCAPE WITH THE CUSTOMER ENGAGEMENT FUTURE LAB Opportunities for meaningful differentiation Areas to keep up or stay ahead Look at the niches Copy when proven only
46. #4 MAKE SURE YOUR PEOPLE ARE WITH YOU FUTURE LAB
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48. We show that we value our customers by serving them well, putting their needs and interests at the center of everything we do. (from the AOL mission statement) FUTURE LAB Watch video on: http://www.youtube.com/watch?v=xaaAYVUWP0I
50. Source: Norton, D. Aligning your Strategy to the Customer Value Proposition, 13/9/2005 ONLY 5% OF THE WORKFORCE UNDERSTANDS THE STRATEGY (when innovating this gets even worse). FUTURE LAB
51. WHILE THEY NEED TO DELIVER THE RETAIL (INNOVATION) PROMISE. FUTURE LAB
52. 76% of consumers donât believe that companies tell the truth in advertisements Yankelowich,2006 FUTURE LAB
53. BUT PEOPLE TYPICALLY DONâT HAVE âEMOTION MANAGEMENTâ IN THEIR JOB DESCRIPTION FUTURE LAB
54. WHEN YOU INNOVATE, TRANSLATE INTO 6 DIRECTIONS Remarkable Practice: Gemalto
61. Mobile THREE PRACTICAL OPPORTUNITIES FUTURE LAB Internet In-store Digitally Augmented Retail
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63. INTERNET LISTEN AND REACT FUTURE LAB US Online Review Users Identifying Review as Having Significant Influence on their Purchase Source: Comscore Inc., the Kelsey Group, Oct. 2007 Hi Joel, Sorry if we weirded you or your friend out by following you on twitter. @JetBlue isnât a bot, itâs merely me and my team keeping our ears to the ground and listening to our customers talk in open forums so we can improve our service to them. Itâs not marketing, itâs trying to engage on a level other than mass broadcast, something I personally believe more companies should try to do. Because corporate involvement in social media is a new and evolving discipline, I also take a specific interest on conversations revolving around our role here. Iâd have DMd you and Lisa directly if you allowed DMs, so please also forgive me for following the link on your twitter page here to send you this note. You and Lisa are no longer being âfollowedâ as you seem to indicate. Again, my apologies Morgan Johnston Corporate Communications JetBlue Airways Category % Restaurant 79% Hotels 87% Travel 84% Automotive 78% Home 73% Medical 76% Legal 79%
64. KEEP IT SIMPLE ON THE MOBILE FRONT On-Demand SMS push Location Based Push INFORMATIONAL (PART OF EXPERIENCE) PROMOTIONAL ! RELEVANCE PERMISSION FUTURE LAB
65. FUTURE LAB IN-STORE INSPIRATION Watch video on http://www.youtube.com/watch?v=gQBFaVfBi9w&feature=related#
66. Queenâs Arcade (Cardiff) WATCH THE CONTENT LESSONS IN NARROWCASTING FUTURE LAB McDonalds Amsterdam Veritas Antwerp INSTORE
67. FUTURE LAB COPY MODIFY CREATE DEGREE OF INNOVATION Turnover of Retail Trade in Romania 2001-2007, 2010 (⏠billions) ROMANIA IS ON THE VERGE OF SOMETHING BIG