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You Be You - 3 Ways to Stand Out From Amazon

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Amazon is a beast. There’s no denying this, and their impact is continuing to bleed into other retailers performance and business strategies. But, it’s not all Amazon’s fault. Your customers expect more.

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You Be You - 3 Ways to Stand Out From Amazon

  1. 1. You Be You 3 Ways to Stand Out From Amazon
  2. 2. Welcome! Todd Harris Director of Marketing Molly Shaw VP of Retail Solutions José Chan VP of Business Dev © 2017 Celect, Inc. All Rights Reserved. jose@celect.com todd@celect.com molly@celect.com
  3. 3. Background • Predictive analytics SaaS platform to help retailers optimize inventories through data- driven decisions. • We leverage a groundbreaking advance in Machine Learning and Optimization. • An MIT Artificial Intelligence Lab Top 50 Technology Innovation © 2017 Celect, Inc. All Rights Reserved.3
  4. 4. 1. Strategies for differentiated store assortments. 2. Why shoppers want to go to your stores and what they are looking for. 3. Tactics to consider to optimize your inventories. © 2017 Celect, Inc. All Rights Reserved.4 WE WILL COVER 3 TOPICS TODAY
  5. 5. … Customers are always beautifully, wonderfully dissatisfied, even when they report being happy and business is great. Even when they don’t yet know it, customers want something better, and your desire to delight customers will drive you to invent on their behalf … © 2017 Celect, Inc. All Rights Reserved.5 - Jeff Bezos, CEO Amazon – 2017 Annual Shareholder Letter
  6. 6. There’s a retail inventory epidemic today, being exacerbated by Amazon. © 2017 Celect, Inc. All Rights Reserved.6 OVERBUYS / UNDERBUYS | LESS IN-STORE TRAFFIC | SHRINKING MARGINS WHY ARE WE TALKING ABOUT THIS?
  7. 7. Strategies for differentiated store assortments. © 2017 Celect, Inc. All Rights Reserved.7 TOPIC #1
  8. 8. Why should retailers care about stocking different and unique products? © 2017 Celect, Inc. All Rights Reserved.8
  9. 9. What strategies can retailers use to create differentiated assortments? © 2017 Celect, Inc. All Rights Reserved.9
  10. 10. Are any retailers actually carrying a unique and special product assortment? © 2017 Celect, Inc. All Rights Reserved.10
  11. 11. Is this what makes a retailer Amazon-proof? © 2017 Celect, Inc. All Rights Reserved.11
  12. 12. KEY TAKEAWAY #1: The right differentiated products will give customers a reason to shop in your store, since they cannot obtain the product anywhere else. • Have exclusive product, experiment with new vendors and invest in private label. • Invest in big buys for key items based on future demand. © 2017 Celect, Inc. All Rights Reserved.12
  13. 13. Shoppers want to go to your stores, so give them a reason to go. © 2017 Celect, Inc. All Rights Reserved.13 TOPIC #2
  14. 14. How would you define a positive customer experience? What does this mean? © 2017 Celect, Inc. All Rights Reserved.14
  15. 15. Which retailers offer positive customer experiences? © 2017 Celect, Inc. All Rights Reserved.15
  16. 16. Are you allocating what your customers want to stores? © 2017 Celect, Inc. All Rights Reserved.16
  17. 17. What role does technology play in this? © 2017 Celect, Inc. All Rights Reserved.17
  18. 18. KEY TAKEAWAY #2: Stores have a unique opportunity to create a positive customer experience for shoppers - to create a lasting bond. A win-win for both you and your customer. • Unique in-store experience to drive store traffic and differentiate. • Engage senior level and cross-functional teams to create a customer experience roadmap for all channels. • Allocate based on localized future demand. © 2017 Celect, Inc. All Rights Reserved.18
  19. 19. How (and why) to optimize your inventory. © 2017 Celect, Inc. All Rights Reserved.19 TOPIC #3
  20. 20. 55% of shoppers turn to Amazon to begin their product search - 2016 BloomReach Survey How has the current retail landscape shaped the way that retailers think about their inventory? © 2017 Celect, Inc. All Rights Reserved.20
  21. 21. Why is optimizing retail inventory so important? © 2017 Celect, Inc. All Rights Reserved.21
  22. 22. Many retailers ship-from-store. © 2017 Celect, Inc. All Rights Reserved.22 Is it working to their advantage?
  23. 23. KEY TAKEAWAY #3: Embrace strategies to help you be more productive with your inventory (e.g. Increase sales, margin, turnover, sell-through, etc.) • Take action while considering your specific business model (specialty retailer, department stores, etc). • While optimizing your store inventories, also consider how to use them to fulfill online orders. © 2017 Celect, Inc. All Rights Reserved.23
  24. 24. Drive towards product exclusivity, experiment with new vendors in the process. 1 © 2017 Celect, Inc. All Rights Reserved.24 IN SUMMARY – 3 TAKEAWAYS Start a x-functional team to kick off a customer experience roadmap for all channels. 2 Embrace inventory optimization strategies leading to quick action specific to your biz model. 3
  25. 25. THANK YOU! © 2017 Celect, Inc. Confidential. Do Not Distribute.25 Questions? info@celect.com More webcasts and information celect.com/resources Twitter Email us @celect todd@celect.com jose@celect.com molly@celect.com

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