02.2020 Office Talk
Linking the new economy of points and money based on experience and data.
Supply / group comprehensive efficiency and retail planning headquarters
Is physical retailing in winter?
In September 2019, Forever21, one of the most popular fast fashion brands, announced its exit from Taiwan. Earlier, Kiko, Nine West, diesel and other well-known brands, even the century old chain department stores of Sears and Barneys NewYork, also went bankrupt indirectly in the past two years. According to the investigation of coresight research, an authoritative market research institution in the United States, by the end of August 2019, the number of stores in the U.S. market had been closed Far more than the number of stores closed in 2017, the tide of store closing seems to hit the real retail.
In the US market, is Taiwan facing the same crisis? Executive director Li Jingfang quoted the data provided by Dongfang online, a well-known market research consultant company in Taiwan, to show that the number of online shoppers and overseas tourists in Taiwan is rising sharply, the consumption situation is moving towards the two poles of seeking unique experience and meeting convenience demand, and the retail channel of department stores seems to gradually fall into the U-shaped trough.
Do you have a chance to warm up in winter?
Just as the real retail industry has adjusted its financial deficit through tarry Festival, the report of Bain company, a global well-known strategic consultant, in April 2018 still put forward that "it is estimated that 75% of sales will be carried out in the real retail by 2025, and the key is how the Retailers design the experience that is difficult to replicate with the changing environment".
CEO Li started from two strategic directions and provided consideration to the attending directors:
1. Provide differentiated consumption experience
With the blurring of the boundary between retail venues and the surrounding of powerful enemies, the delicate differences in the consumer experience provided by physical venues will become the key to survival. Taking the new index of Thailand department store, iconsiam, as an example, not only will Thailand's traditional aquatic market be brought into the store, but also the exhibition space and large-scale UAV performance that can accommodate 10000 people will be planned in the outdoor area It not only grabs topics and pages, but also meets the needs of the new generation of consumers for entertainment.
CEO Li also gave an example to the Asian retail pioneer, Japan. Focusing on the trend of aging, he customized community stores suitable for the elderly, such as the GG Mall (Grand generation's Mall) opened by AEON in Japan. It opened at 7 a.m. and provided a wide starting line for wheelchair access. At the same time, it set up a rehabilitation center, provided go and other experience courses in leisure and entertainment Heart, etc., is to attack the elderly customers, so that customers and stores "stick to the strip.". There is no substitute for differentiated consumption experience in the physical field. If starting from entertainment or community retail, it may become an opportunity point for future growth.
2. Integrate consumption footprints and understand customers' needs from data
According to the survey of Accenture, a global management consulting firm, 91% of consumers prefer to consume in stores providing personalized services, which shows that personalized services are an important retail consumption trend.
Executive director Li pointed out that to perform accurate personalized services, we need to rely on digital integration of consumer footprints. However, due to the inconsistency of systems and the protection of individual assets laws, numerous retail businesses often encounter fragmentation of consumers' data (offline), lack of unified customer identity, and real-time and accurate lines The three major pain points (target marketing in store) of difficult execution of the pin make it impossible to tailor a complete personalized service. Although it is not easy to carry out the practice, the overall collection and integration of consumer digital footprints has gradually become a trend. In the future, the opportunity for success lies in how to integrate fragmented data and find out the goods or services that meet the needs of customers.
Executive director Li pointed out that many world-famous enterprises are forced to withdraw from the historical stage due to the insufficient pace of reform. In addition to making people feel sad, he also reminded us to be alert at all times. In a rapidly changing environment, transformation is absolutely urgent. The action payment service "happy go pay" launched by far eastern group in the third quarter of 2019 not only integrates the advantages of such channels as bonus point platform of happy go, cross-border action application platform of Far Eastern group bank, group retail system and consumer service affiliated enterprise, but also shows the four main directions of future retail value-added of Far Eastern Group: comprehensive effect of the group again Upgrade, retail service integration, digital convergence point, and new consumption of member economy.
"Retail app will be the ultimate choice for consumer service integration. "Said Li Jingfang, executive director. According to foreign research reports, 67% of smart phone users will download retail apps, more than 50% of which are for coupons and member discounts. Compared with special payment apps, more customers choose to use retail app for payment.
As the most authoritative point counting platform in the whole platform, happy go under Far Eastern Group has more than 9 million active members. The development of happy go pay is aimed at the market trend and consumer demand. Therefore, it is not only the only payment platform that starts from the concept of member card Friend service upgrade, but also the only one that can connect various channels of APP in series, starting from the retail department store channel of Far Eastern Group Through the advantages and experience in points, payment and field, it will gradually expand to the channels outside the group. In the future, the application scenarios will be from the physical field, o2o (on-line to off-line), and even cross-border can carry out accumulation or exchange point services, so that the use of points in happy go has no far-reaching scope. Through the seamless connection of points and gold flow, customers' accumulation points, exchange points, and consumption payments will all be realized It can be completed between fingers and palms, collect consumption journey more completely, understand consumer habits more deeply, speed up the integration of consumption footprints at the same time, connect customers' life situations with new digital applications, and create a golden ecosphere and a upgraded member economy of service experience for the common prosperity of consumers and businesses, so as to break through in the cold winter of physical retail.
