Tuesday Oct 25, 2011

World Retail Congress in Review

Last month’s World Retail Congress in Berlin was an exciting event for Oracle Retail.  As I’ve shared on this blog previously,  Mike Webster SVP and GM of Oracle Retail  presented the results of our Digital Natives research project to a packed auditorium at the ‘Retail Consumer in the Year 2025’ session on Tuesday morning. 

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Wednesday Oct 05, 2011

Digital Natives Demand a Better Multi-Channel Experience

In an earlier blog post we announced that we were surveying over 1,500 young consumers and would be publishing the results at World Retail Congress in Berlin.  Mike Webster from Oracle presented the results to a busy room at the conference last week and the results have been hugely popular both with retailers and with the press. 

You can download a white paper of the results at http://www.oracle-retail.com/digitalnatives/ for your own perusal, and please see the official press release below for the key information.  If you're interested in looking at the raw data then please get in touch. 

Digital Natives Demand a Better Multi-Channel Experience, Reveals Oracle Research

Price, Product, Choice, Promotions and Technology are Key to Creating a Winning Shopping Experience

Redwood Shores, Calif. – September 27, 2011

News Facts
Oracle’s latest research on the future of retail in 2025 according to the digital native generation born after 1980, reveals that the shopping experience of the future needs to be connected, fit-for-purpose and always available.
Oracle commissioned the survey in July 2011 to examine the views of digital natives to current shopping needs and their expectations of these needs in 2025 as they come of age, interviewing 1,514 young consumers between 19-23 years from the UK, Germany and France.
Results revealed that digital natives love to shop but they are discerning, wanting differentiated products, pricing and services based on their preferences, to interact with retailers when and how it suits them, and for this experience to be seamless and connected whatever channel they choose.
Technology is the key to expediting the shopping experience, whether in-store to facilitate a sale, or using online channels to research and compare price, promotions and choice, suggesting that retailers must optimize their operations in support of customer priorities and operate in a connected 24/7 environment.
German consumers are the most internet savvy using online channels to shop and research more than their international counterparts, while British digital natives are more likely to use self-service technologies in stores, and in particular are keen to be given the opportunity to do so in fashion stores.
Findings also reveal that stores remain the channel of choice for digital natives and will remain critical to the shopping experience of the future, which has meaningful impact for bricks and mortar retailers.
When it comes to online shopping however, this group prefers pure-play internet retailers over multi-channel retailers who have expanded their businesses online, illustrating that the latter must continue to invest in developing their multi-channel strategies from an organizational, operational and technical perspective to meet the growth of online commerce.
Price is the most important purchasing criteria for this group and is perceived to remain so in 2025 along with promotions; and while product range is also a key motivator, brand appears to be less important than price, range and assortment.
Retailers appear not to be targeting this group correctly with personalized promotions, indicating that there is opportunity for retailers to make better use of actionable insight and create a winning shopping experience for all.
A whitepaper titled: ‘The Future of Retail: Through the Eyes of Digital Natives’ providing key findings and analysis on the results is available to download at: www.oracle-retail.com/digitalnatives.
Key findings of the research were announced by Oracle® Retail’s Senior Vice President and General Manager, Mike Webster, at a session on The Retail Consumer in the Year 2025 at the World Retail Congress in Berlin today.

Supporting Quote

“This research presents a number of interesting findings for retailers outlining considerable opportunities,” said Mike Webster, Senior Vice President and General Manager, Oracle Retail. “To drive long-term growth, retailers need to provide superior experiences that consumers are demanding. The research supports the importance of creating a solutions platform that provides a connected multi-channel shopping experience.”

Notes for Editors

to The Future of Retail: Through the Eyes of Digital Natives survey were generated from 1,514 European consumers aged between 19 and 23. The two-part survey covering retail today and perceptions and expectations of retail in 2025 was conducted using Redshift Research in July 2011 using its online consumer panel. The study compiled online responses from 506 respondents in the UK, 503 in Germany and 505 in France.

Supporting Resources

About Oracle Retail

Oracle provides retailers with a complete, open and integrated suite of business applications, server and storage solutions that are engineered to work together to optimize every aspect of their business. 20 of the top 20 retailers worldwide - including fashion, hardlines, grocery and specialty retailers - use Oracle solutions to drive performance, deliver critical insights and fuel growth across traditional, mobile and commerce channels. For more information, visit our Web site at http://www.oracle.com/goto/retail

About Oracle

Oracle (NASDAQ: ORCL) is the world’s most complete, open and integrated business software and hardware systems company.  For more information about Oracle, visit http://www.oracle.com.

Trademarks

Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

Contact Info

Jessica Moore
Oracle
+1.650.506.3297
jessica.moore@oracle.com

Emma Quinn
JD Marketing
+44 20 8297 5388                  
emmaq@jdmarketing.co.uk

Friday Sep 23, 2011

Tim Danaher on World Retail Congress and the Oracle World Retail Awards 2011

In this video Tim Danaher, editor at Retail Week, gives an insight into what he's looking forward to at World Retail Congress 2011 and why the Oracle World Retail Awards are so important to the global retail industry. 

To find out more about Oracle's sessions and involvement at the World Retail Congress and the Oracle World Retail Awards, please visit http://www.worldretailcongress.com/programme.cfm

Tim Danaher on Digital Natives at World Retail Congress

In this video Tim Danaher, editor at Retail Week, talks about 'digital natives' and what he expects to see in the results of Oracle Retail's survey of 1,500 young consumers across the UK, Germany and France.  The results of the survey will be revealed and explored in a special session at World Retail Congress 2011 on Tuesday morning by Senior VP and General Manager of Oracle Retail, Mike Webster. 

To find out more about the session please visit: http://www.worldretailcongress.com/pdf/downloads/2011/Tuesday-27-September-Agenda.pdf

 

Thursday Sep 01, 2011

Digital Natives – the evolving consumer

Tim Berners-Lee launched the first World Wide Web server and browser in 1990.  It opened for commercial use in 1991.  In 1994 German company Intershop pioneered the online shopping system and Amazon followed hot on their heels in 1995.

In 2012, children born in 1994 will turn 18, becoming the first adults to have lived their entire life in the presence of online retailing.  Of course, many consumers both older and younger than 18 have grown up with the internet and computers being an inherent part of their social development.  Known as ‘Digital Natives’, these consumers are driving the way that retailers adapt the way they sell their products.  They represent an ever growing proportion of the consumer population, particularly those with disposable income.  Between now and 2025, the population of Digital Natives in Britain alone will have increased by roughly 9.5 million people (based on figures from Office for National Statistics).

So what do these Digital Natives expect from their shopping experience?  They have grown up in a world where they can find an answer to any question in less than ten seconds on Google; they can research products online before deciding what to buy; they are used to a marketplace vastly larger than their local high street; they share their likes and dislikes with hundreds (or thousands) of people through social media, and in turn depend more and more on social trends to generate demand rather than just advertising.  How will these trends develop in the next 14 years?  Where will the retail world be in 14 years’ time?

Oracle Retail is currently conducting a survey of about 1,500 Digital Natives aged 18-23 across three countries to explore how they perceive the retail world and what they expect from their shopping experience.  We will be finding out how they make their purchasing decisions, how price-conscious they are, what media they pay most attention to and how they use social media and mobile technology to shop. 

The results of the Digital Natives survey will be launched at a special seminar at this year’s World Retail Congress in Berlin by Mike Webster, Oracle Retail’s Senior Vice President and General Manager.  In this session, Mike will explore the implications of the research and pose questions on how retailers in 2025 will have adapted their business models in response to the development of digital technology and social media.  The presentation will take into account the impact of Digital Natives on stores, commerce, price, communication, marketing and promotions.  To find out more about the session and how to book your place, visit the World Retail Congress website here: http://www.worldretailcongress.com/programme-day-three.cfm

We will also be publishing our findings on this blog.  Subscribe to the blog to stay up to date with the findings.  

Tuesday Aug 30, 2011

World Retail Congress – What’s in store?

It’s just under a month until the next annual World Retail Congress in Berlin.

The World Retail Congress is the culmination of global retail development, and each year hosts the retail industry to share experience and insight from around the world with other businesses and experts. 

The past 11 months have seen some landmark developments in the retail industry, as well as some exciting advances in retail technology and the way people shop.  This year has seen the rise of ‘multichannel’ as a retail imperative  to become the number one target in boardroom agendas.  Mobile technology has finally been embraced by mainstream retailers and shopping by mobile device is a fast evolving consumer trend.  As a result of this, retailers are experiencing an increase in operational complexity that they have had to meet head on in order to maintain logistical efficiency.

All of these advances have been driven by the increased perception of data as a valuable commodity within a business.  Encouraging consumers to use technology to shop – whether on the high street or online - is not only a strategy to increase sales across all channels, but it is also a way to gather a greater level of understanding about how each shopper behaves.  The analysis of this data will in turn drive a retailer’s ability to anticipate supply and demand, assist product development and optimize the way the product is priced and marketed. 

In turn, the consumer is becoming more data-savvy.  Shoppers are more regularly comparing prices of products online before they buy.  Price comparison websites are driving the trend, but smartphone apps that scan barcodes and offer reviews and prices in various shops are also making it easier for consumers to ‘shop smart’.  This is putting extra pressure on retailers of all sizes to become more aware of their competitors’ prices and ensure that their inventory is available across more channels. 

This evolution is what is driving developments in retail across the world, and we will many examples of how businesses are adapting to this change of pace at World Retail Congress this year.  The key topics of the 2011 Programme are ‘Understanding Multi Channel Retailing’, ‘The Rise in Mobile Communications’ and ‘How to deliver international growth through an understanding of shopper behaviour both on and offline’.

It will be very exciting to see what insight the different industry experts will have to offer on these topics, and how pioneering retailers are meeting the challenges head on.  Oracle Retail will also be presenting some research we are conducting on the growth of the technology-savvy consumer and what it means for businesses.  Stay tuned to the blog for more information about this research. 

If you’re heading to the World Retail Congress then make sure you book yourself in for our sessions.  Our Digital Natives session will be at 7.45am on Tuesday, and we’re hosting a discussion on Multichannel Retailing at 3.30pm, again on Tuesday. 

We will also be hosting the presentation about the winners of the Oracle World Retail Awards on Wednesday morning.

Other key speakers we’re looking forward to include:

Alex Cara, Former Group Franchise Managing Director, New Look

Joseph Gromek, President and CEO, Warnaco

Tommy Hilfiger, Founder, Tommy Hilfiger Group

Ian Moir, CEO, Woolworths SA

Eric Broussard, Vice President – International Seller Services, Amazon

We look forward to seeing you there!  For more information, go to http://www.worldretailcongress.com/programme.cfm

Sunday Jul 17, 2011

Oracle Retail and the Fashion Retail Academy - Retail Futures Challenge

In this video Karen Dennison, principal of the Fashion Retail Academy, explains Oracle Retail's involvement in supporting students at the World Retail Congress 'Retail Futures Challenge'.  For more information about the Retail Futures Challenge visit the official website.

 

Monday May 16, 2011

The Oracle World Retail Awards 2011

The Oracle World Retail Awards have come to be recognized globally as a measure of true prestige in the retail industry.  Indeed, they are now touted as the highest accolade in global retail and the winners set the benchmark by which the rest of the industry measures its own success.

Taking place alongside the World Retail Congress in Berlin, the Oracle World Retail Awards recognise and reward those retailers that strive for excellence and spearhead innovation, creativity and value to their customers around the world. Now in its fifth year, these Awards have become an annual fixture in the diaries of board-level retailers seeking to celebrate the success of this industry’s outstanding organisations and its dynamic individuals.

Last year, we saw representatives of Amazon, Burberry, Truworths, Woolworths and Ocado to name a few, become Oracle World Retail Award winners. There are several exciting categories, including Retailer of the Year, Outstanding Leadership, Multimarket Retailer of the Year, Emerging Market Retailer of the Year, Store Design of the Year and Etailer of the Year. 

The judging panel is selected from the crème of the industry, each judge being a leading expert in their respective area. The judges scrutinize each category against rigorous criteria and debate the nominees in fine detail to ensure that each emerging winner really does represent the global leading standard in that category.  This year Oracle Retail’s own Senior Vice President and General Manager Mike Webster will be joining the panel. 

The entries are open now and the deadline for entries is 20th May.  The shortlists will be announced in June. 

To enter, visit http://www.worldretailcongress.com/world-retail-awards-judging-process.cfm and follow the instructions.  The contact details for the organisers can also be found here for any queries. 

The World Retail Congress itself goes from strength to strength each year.  It is shaping up to be a very interesting year for retail and the WRC is an ideal place for businesses from all over the world to ‘test the water’ and share their thoughts on the developments in the industry. 

Stay tuned on the blog for updates on World Retail Congress and the other events which Oracle Retail is involved in.

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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