Tuesday Feb 12, 2013

The Evolution of Experience Retailing: Russia Results Now Available

Today saw the unveiling of the Russian results from Oracle Retail’s Evolution of Experience Retailing global consumer research. Anton Pershin, Regional Director of Oracle Retail in Russia, announced the results at today’s launch event in Moscow.

Russian findings indicate that consumers in the region value their store experiences highly and place importance in the product showcases delivered through this channel. While store-based retailing continues to dominate, Russian consumers indicated a willingness to shop via mobile or social channels, though were less keen to shop online, contrary to other countries targeted in this research. This research formed part of a global survey undertaken by Oracle Retail to explore the Evolution of Experience Retailing investigating consumer perceptions of retail in Russia, the UK, Germany, USA, China, Japan and Brazil.

Key findings from the Russian research indicated:

  • Russians rate the importance of the shopping experience at 77%, less than Brazil and China but more than the other regions surveyed
  • 87% rate good service as important, equally valuing the availability of products at the point of purchase, alongside a quick and easy payment process
  • Despite the importance of social networks to Russian consumers, they are unwilling to share negative experiences via these channels
  • More than any other region, Russians want retailers to interact with them only at the consumers’ instigation and in relation to products or order updates

With a population of 141.9 million, Russia is expected to become Europe’s largest consumer economy, making it a priority for retailers, who must ensure they can deliver cross-channel integration to enable consumers, who have indicated a willingness to shop via mobile and social channels, in the way they want, that is ‘good for me’. Retailers need to focus on collecting consumer data and utilise it to gain actionable insights into customer behaviour, which can then be applied across all touch points.

Visit the Evolution of Experience Retail research website and download the research whitepaper as well as a range of further resources in Russian including byline articles, a fact sheet and an infographic showcasing the key global results.

Tuesday Feb 05, 2013

UK Results of The Evolution of Experience Retailing Unveiled Today

UK results from The Evolution of Experience Retailing research were unveiled today during a breakfast roundtable event in London. Sarah Taylor, Senior Director EMEA & JAPAC of Oracle Retail, took delegates through UK findings, looking at comparisons with results from other countries and what the findings means for UK retailers in the current global marketplace.

The Evolution of Experience Retailing research asked consumers in the UK, USA, Germany, Russia, Brazil, China and Japan on their views to fundamental retail principles, looking at issues such as customer service, overall experience, preference, shopping trends and attitudes to technology. The global results of this research were recently announced at the Oracle Retail Exchange event held in January in New York.

British consumers have unprecedented options in a highly competitive domestic retail economy, in addition to the global environment. With access to vast amounts of product information from multiple sources, consumers can compare retailers, brands and products in seconds. As such, they expect high value, targeted assortments, competitive offers and uninterrupted availability from a retail brand, whenever and wherever they choose to shop. This was reflected in the aspects of the research that looked at experience, with 66% of British consumers listing ease of use as the best definition of the term “shopping experience”, followed by the ability to shop anytime, anywhere (59%).

In the current economic environment, it was unsurprising that price remains a priority when shopping, however 90% of respondents also stated that good service was important, or very important. Store associates were identified as the primary cause of bad service, followed by poor fulfillment, but British consumers did not react as strongly as other nations to a bad experience, and were less likely to switch to an alternative retailer, or to actively recommend others from using one.

Some of the research findings were:

  • British consumers want what the global marketplace has to offer with 76% stating that the internet offers no barriers to where they can shop
  • 76% list price as the priority when shopping, followed by choice and convenient store locations
  • Although British consumers are relatively open to sharing information with retailers, in comparison to other mature economies, there is an expectation for lower prices and exclusive offers that are 'good for me' in return for engaging in a more collaborative relationship with a retailer
  • While respondents prefer not to shop on their mobile device, interpretations of personalisation relate most strongly to receiving offers and discounts to their mobiles (21%), followed interestingly by a willingness to be identified when shopping online (13%)

To fulfill on British consumer expectations, retailers must optimise their operations to fulfill on the complex supply chain flows to ensure that home delivery and customer pick up is available if the customer requires. The logistics behind the process matter little to the consumer, they just need to be right to support customer priorities.

UK results from The Evolution of Experience Retailing can be downloaded from the research website, where you can also access the global results. Available resources include a whitepaper and byline articles, as well as a research infographic and fact sheets on country and global results.

Wednesday Jan 30, 2013

Record Number of Delegates Participate in the Oracle Retail Exchange

This year’s Oracle Retail Exchange took place in New York from 13-16 January with a record number of delegates attending. 137 senior retail executives, from 66 companies across 25 countries convened at Le Parker Meridien to meet and discuss the issues facing the global retail marketplace, and take in the highlights of the NRF Big Show taking place at the same time.

Oracle runs the Retail Exchange programme each year, facilitating networking between an exclusive group of senior retail business and IT executives. Delegates gain access to high-level business content designed specifically for our audience, including presentations from some of the leading players in the market who share how Oracle is supporting their businesses to succeed.

As part of the programme, delegates also attend a series of exclusive events, dinners and social gatherings, and this year were taken to The American Museum of Natural History for a VIP reception, providing the focal point for the launch of “The Evolution of Experience Retailing” research.

Oracle Retail commissioned this research, interviewing consumers from Brazil, China, Germany, Japan, Russia, the UK and USA, to help retailers identify what consumers really want from their shopping experiences and how they can create strategies and business priorities to meet consumer demand and compete more effectively in the global market. The results of this research are available to download on our Evolution of Experience Retailing microsite, where you can access a range of research resources including a whitepaper and an infographic showcasing the key results.

A further highlight of the Retail Exchange programme are the Store Showcase visits to New York retailers, where delegates are able to see best practice retailing in action. This year, delegates visited Deckers Outdoor’s UGG Australia store on Madison Avenue to hear about the journey Deckers is taking to develop a globally consistent consumer-direct operating model that unifies the customer experience across all touch points, streamlines operations, drives sales and improves profitability. The group learnt how Deckers is using Oracle Retail Point-of-Service, in addition to Oracle Retail Merchandise Operations Management and Oracle Retail Merchandise Planning and Optimization. Take a look at the recent press release detailing this journey.

In addition to events and visits to retailers, the Retail Exchange programme offers a rich and engaging series of presentations from Oracle customers, who share their experiences of how Oracle Retail solutions are supporting their retail businesses. This year, delegates heard from:

  • Simon Russell, Director Retail Operations Development at John Lewis in the UK: Oracle Commerce: Supporting the Omni-Channel Journey at John Lewis
  • Chris Mangham, CIO at M.Video in Russia: Developing a Complete Customer Experience with Oracle Commerce
  • Dimitrios Bairaktaris, General Manager Merchandise and Logistics of IT from Coles in Australia: Optimising Replenishment at Coles to Improve the Customer Experience
  • Jeremy Spencer, Regional Vice President Consultingat Oracle Retail EMEA; Marion Marees, Program Manager Retailbox Core, Senior Business Consultant at Ahold IM Europe; Mario Torres, Head of Delivery at Oracle Retail EMEA Consulting; and Andre Weigandt, CEO and Founder, Weigandt Consulting: The Changing Role of Oracle Retail Consulting in Supporting Customer Deployments in EMEA, with a focus on Ahold
  • Frederieke Ubels, Manager IT Innovation and Feike Groen, Manager IT Architecture at bol.com from the Netherlands: Oracle Commerce – Supporting Growth, Customer Service and Market Share at bol.com

These sessions focused on how each organisation is working with Oracle Retail and Oracle Commerce solutions and the impact that each implementation is having or has had.

If you are interested in attending a future Oracle Retail Exchange event, please join our group on LinkedIn, where you can keep up to date with news and updates from Oracle Retail. This year’s attendees included:

A5, Academy Sports + Outdoors, Åhléns, Ahold, Al Nahdi Medical, AOKI Holdings, Auchan, Azizia Panda, Benetton, bol.com, Boulanger, Breuninger, Carrefour, Celio, Coles, Computer Plaza, Coop Switzerland,  Darty, Dixy, Ecco, Euroset,Farmatodo,  Fashion Continent, Gerry Weber, Gucci, ICA, John Lewis, Konzum, Lego, Leroy Merlin France, Leroy Merlin Vostok, M.Video, Manor AG, Marks & Spencer, Milan Zao (Izhtrading), Myer, NBTY Europe, Nilson Group, Norman Vivat, Pandora Jewellery, Peek & Cloppenburg, Pharmacor, Rewe, Rogers Communications, Scandlines, Siam Makro, SPAR Middle Volga, Sportmaster, Sprint, Teknosa, The Aldo Group, The Body Shop, The TJX Companies Inc., The Warehouse Group, TOP-TOY, Vodafone, Waitrose and WM Morrisons. 

Thursday Jan 24, 2013

The Evolution of Experience Retailing: Japanese Results Unveiled

Japanese findings delivered by The Evolution of Experience Retailing research were unveiled in Japan today by Steve Ouzounian, Group Vice President of Oracle Retail.  Following last week’s announcement of the global research, this regional roll out revealed that consumers in the tough and mature Japanese economy provided some of the most extreme results contrasting significantly with global average responses.

The Oracle Retail research, conducted in August 2012, interviewed men and women between 18 and 60 years in Brazil, China, Germany, Japan, Russia, the UK and USA on their views to fundamental retail principles, including customer service, overall experience, preferences and shopping trends and attitudes to technology in the retail process.

These regional findings emphasise that while the Japanese may not be so keen to interact with the global market place at this stage, there is no doubt that it will infiltrate the local market in the future. Retailers also face challenges in engaging better with this group of consumers and facilitating seamless commerce anywhere fulfilment.

Some of the research findings indicated:

  • 50% of Japanese consumers identify with the concept of there being no barriers to shopping in an online retail world, which was a much lower level than other countries surveyed
  • More Japanese respondents want access to a single shopping basket across channels
  • Japanese consumers are not as unforgiving as other regions, when faced with poor service, and although almost 60% would immediately transfer their custom to another retailer, they were less likely to broadcast a negative experience, particular on social media platforms

These results reveal that price, choice and availability are very important factors in the selection of a retailer, and the consolidation of commerce anywhere merchandising and inventory information combined with the support of efficient transaction systems to move products to fulfil consumer demand, is no longer optional, but rather a necessity.

Download Japan specific results from the research, as well as global results, at The Evolution of Experience Retailing website, where you will find a whitepaper as well as a range of other research resources.

Click here to access a Japanese language infographic, showcasing the results.

Wednesday Jan 16, 2013

Oracle Retail Exchange: Daily Review of Activities on Wednesday 16th January

Today was the final day of Oracle Retail Exchange in New York and ended an event that saw some great discussion and networking between retail executive delegates  from around the world, as well as visits to a number of New York’s finest retailers, and culminated in the launch of Oracle Retail’s The Evolution of Experience Retailing research.

In our last Customer Showcase, attendees heard from Frederieke Ubels, Manager IT Innovation of bol.com, an organisation with over 3.4 million active customers in the Netherlands and Belgium, making bol.com the largest online retailer in the region and a market leader in the field of online sales of books, entertainment, electronic devices and toys. Ubels discussed bol.com’s longstanding use of Oracle Commerce products – Endeca Search and ATG Commerce - and how these have supported bol.com’s growth and strategies to improve customer service and market share.

A digital retailing roundtable concluded activities for the morning, featuring input from Teknosa, bol.com and Computer Plaza, on the challenges and opportunities facing ecommerce and traditional retailers as they seek to gain marketshare in this dynamic and competitive retail sector.

In addition, delegates recounted their perspectives on last nights VIP reception at the American Museum of Natural History, where Mike Webster, Senior Vice President and General Manager of Oracle Retail, launched The Evolution of Experience retailing research, and our guests were enthralled by the exclusive space show at the Hayden Planetarium.

Download the research now and understand how the results will impact your business strategy. A range of research resources are available including a comprehensive whitepaper.

Oracle Retail launches global consumer research: “The Evolution of Experience Retailing”

Oracle has launched its new research entitled “The Evolution of Experience Retailing”, examining the views of consumers on the global marketplace and what this means in terms of meeting their needs, to help retailers to define their strategies and key business imperatives and enable them to compete more effectively.

Oracle recognises that the pace of change in the global marketplace is unprecedented. The view we have is that consumers are now in charge, demanding the provision of commerce anywhere, the benefits of the competitive marketplace and the latest technologies to enhance their shopping experiences. This is the age of the individual that wants every retail interaction to be ‘good for me’, to be defined and dictated by ‘my’ preferences.

Consumers between 18 and 60 years old from Brazil, China, Germany, Japan, Russia, UK and USA were interviewed in August 2012 for the ‘Evolution of Experience Retailing’ survey on their views to fundamental retail principles, including customer service, overall experience, preferences and shopping trends and attitudes to technology in the retail process.

This new piece of research was officially launched last night at a VIP reception at the American Museum of Natural History, by Mike Webster, Senior Vice President and General Manager of Oracle Retail.

Some of the key findings of the research include:

  • Consumers want retailers to co-create interactions that are ‘good for me’ - that meet local and cultural expectations and are appropriate in terms of the level, frequency and intimacy of the interaction between the retailer and the consumer
  • Led by price, product and choice, the Amazon effect is driving growth, acceptance and demand for the global marketplace
  • The importance of service indicates retailers must empower their associates and operations to deliver accurate and connected, information-driven interactions at every touch point
  • There is no ‘one size fits all’ approach to meeting customer expectations of a good experience – these differ culturally, regionally and across touch points
  • Delivering a poor service and experience is damaging to your business – you will lose customers, reputation and diminish your brand value
  • Retailers are missing vital opportunities to personalise communications, as they fail to engage appropriately with customers
  • Retailers should ignore the growing importance of mobile and social at their peril
  • Consumers are demanding that this ‘good for me’ experience be consistent across multiple touch points, driving the need for retailers to deliver commerce anywhere

Download the global results from the “Evolution of Experience Retailing” research now, and access the free whitepaper detailing the insights gained from the research and a range of other resources.

Country specific results will be announced over the following weeks – stay tuned for further updates.

Thursday Jan 10, 2013

“The Evolution of Experience Retailing” set to be launched next week

Next week during our Oracle Retail Exchange event in New York, Mike Webster Senior Vice President and General Manager, will unveil new global research from Oracle Retail, during a VIP reception at the American Museum of Natural History on Tuesday 15th January.

Oracle recognises that the pace of change in the global marketplace is unprecedented. The view we have is that consumers are now in charge, demanding the provision of commerce anywhere, the benefits of the competitive marketplace and the latest technologies to enhance their shopping experiences. This is the age of the individual that wants every retail interaction to be ‘good for me’, to be defined and dictated by ‘my’ preferences.

To substantiate these views, Oracle undertook a global survey in August 2012 looking at the views of consumers in Brazil, China, Germany, Japan, Russia, the UK and USA about the global marketplace and what this means in terms of meeting their needs. The findings of the research entitled ‘The Evolution of Experience Retailing’ will help retailers to define their strategies and key business imperatives and enable them to compete more effectively in an increasingly powerful consumer-led world.

This new research explored the views and expectations of consumers on:

  • Attitudes and preferences around shopping globally and locally
  • Which retail attributes matter to consumers
  • Getting the most from interactions with retailers
  • Understanding what service, experience and personalisation mean to consumers
  • The importance of service, experience and personalisation in the shopping process
  • Consumer reactions to poor retail experiences and service
  • Use of mobile and social media in the shopping process
  • The factors that drive consumers to make decisions around shopping with particular retailers
  • Acceptance and interaction with the global marketplace
  • The imbalance in the retail market and how traditional retailers are competing effectively or otherwise in the global landscape

Further details regarding the Evolution of Experience Retailing research will be announced on this blog over the coming week. Visit again, or subscribe to our blog RSS feed to receive future posts.

You can also join Oracle Retail online communities to hear what your peers have to say about the research and for details of how to download it following the launch.

Tuesday Jan 08, 2013

It’s Oracle Retail Exchange 2013 next week!

Oracle Retail is once again running the Retail Exchange programme next week alongside the NRF Big Show in New York. This invite only event brings together a select group of retailers, providing access to a unique set of events specifically designed for an international audience, ensuring attendees get the very most from the BIG Show programme as well.

Oracle Retail Exchange gives retailers the chance to network, learn and share ideas with an exclusive group of senior business and IT executives, alongside the Oracle Retail executive team. Attendees will hear from leading retailers on how Oracle solutions support their businesses.

This year the following retailers will be presenting:

  • Simon Russell, Director Retail Operations Development, John Lewis: Oracle Commerce: Supporting the Omni-Channel Journey at John Lewis
  • Chris Mangham, CIO, M.Video: Developing a Complete Customer Experience with Oracle Commerce
  • Dimitrios Bairaktaris, General Manager Merchandise and Logistics, Coles IT: Optimising Replenishment at Coles to Improve the Customer Experience
  • Jeremy Spencer, Regional Vice President Consulting, Oracle Retail EMEA; Marion Marees, Program Manager Retailbox Core, Senior Business Consultant, Ahold IM Europe; Mario Torres, Head of Delivery, Oracle Retail EMEA Consulting; Andre Weigandt, CEO and Founder, Weigandt Consulting: The Changing Role of Oracle Retail Consulting in Supporting Customer Deployments in EMEA, with a focus on Ahold
  • Frederieke Ubels, Manager IT Innovation, bol.com: Oracle Commerce – Supporting Growth, Customer Service and Market Share at bol.com

In addition, delegates attend exclusive events, networking dinners and store showcases at some of New York's most celebrated venues.

One of the event highlights is the VIP reception at the American Museum of Natural History, where Mike Webster, Senior Vice President and General Manager of Oracle Retail, will unveil new global research entitled ‘The Evolution of Experience Retailing’  from Oracle Retail. Further details will be announced in due course.

If you are interested in learning more, please join our Retail Exchange LinkedIn Group, where we will post event updates and details of “The Evolution of Experience Retailing” research following its launch on 15 January.

Watch our video “What's in store for Oracle Retail Exchange 2013, New York”.

About

Everything Retail.


Principal contributors:

Sarah Taylor, Senior Industry Director, Oracle Retail.


Marie-Christin Hansen, Senior Industry Campaigns Manager, Oracle Retail.


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