Private & Confidential How Product Intelligence Can Help Boost Merchandising Performance Greg Girard, Program Director of Worldwide Omni-channel Retail Analytics at IDC Retail Insights Sudhir Holla, SVP, Ugam April 2015 Webinar Series Sponsored by Don Davis, Editor in Chief Internet Retailer MODERATOR
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Private & Confidential
How Product
Intelligence Can
Help Boost
Merchandising
Performance
Greg Girard, Program Director of Worldwide Omni-channel Retail Analytics at IDC Retail Insights
Sudhir Holla, SVP, Ugam
April 2015Webinar Series
Sponsored by
Don Davis,Editor in Chief
Internet RetailerMODERATOR
INTERNETRETAILER.COM RESEARCH | NEWS | ANALYSIS |DATA |EVENTSIR
E-commerce Stores AmazonSource: U.S. Department of Commerce,
Amazon.com Inc., Internet Retailer
(Year-over-year growth. E-commerce and stores, U.S. data; Amazon, North America)
E-retail growth is not all about Amazon
19.8%
18.4%
18.1%
17.1%
12.3%
8.8%
Web-only w/o Amazon
Retail chains
Web-only with Amazon
Amazon
Consumer goods manufacturers
Catalog/TV/call center
Year-over-year % growth 2014 vs. 2013
16.5%15.8%
12.7%
18.5%
15.5%
1-100 101-200 201-300 301-400 401-500
Growth by Top 500 size
And it’s not all about the biggest companies
5%
41%
49%
58%
76%
85%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
Other
Seek advice from store staff
More convenient to have item delivered to home
Item out of stock in store
Wanted to see/touch/try on merchandise
Better prices online
Showrooming: Price is paramount, but selection counts, too
Source: PwC
(Have you ever deliberately browsed products in a store, then bought online? Why?)
37%
48%
51%
61%
61%
65%
0% 10% 20% 30% 40% 50% 60% 70%
Item out of stock online
To read reviews online
To compare prices of competitors
Didn't want to wait to get item
Wanted to see/touch/try on merchandise
To avoid paying for delivery
Webrooming: They hate to pay for shipping
Source: PwC
(Have you ever deliberately browed products online, then bought them in a store? Why?)
Private & Confidential8 Private & Confidential
Agenda
Greg GirardProgram Director of Worldwide
Omni-channel Retail Analytics
Sudhir HollaSVP at Ugam
• What is Product Intelligence?
• Why is Product Intelligence Important?
• What is the End Result?
Speakers
What is Product Intelligence?Greg Girard
Why is product intelligence important?
IDC Retail Insights Opinion:
By the end of 2016, product intelligence will inform 80% of the top 10 ecommerce retailers' pricing decisions and drive mainstream adoption of high-velocity pricing.
It’s nascent now but by 2020 product intelligence will influence $3.7 trillion of retail spending in the U.S. alone,18% GDP.
The keenest strategic concern of pricing is competing against race-
to-the-bottom pricing wars…The fetish of price is the medieval
bloodletting of 21st century retail.
IDC Retail Insights, March 2015
Accumulating “Data Lakes”
Consumer behavioral fingerprints and feedback
Digital evidence of competitors’ strategies/tactics
Manufacturers’ product content
Publisher’s and journalists’ content
Market and economic data
Product Intelligence….Applies a range of technologies to collect, aggregate, and analyze data about products that a retailer and its competitors sell…
from a variety of online and in-store sources…
to inform pricing, merchandising, marketing, and product development decisions…
with timely, relevant insight into market conditions, competitors’ strategies and tactics, and consumer behavior and sentiment.