The Future of Online Retail
Leighton Peter Prabhu Partner, Russia & CIS Interstice Consulting LLP www.intersticeconsulting.com October 2011
Co-creation / mass customization
Other co-creation projects
Subscription commerce simplified choices negative-option billing
style types celebrity
experts customer service
Other subscription commerce projects
Case study - Shoes of Prey
What we do We make women happy. We bring out their creativity and allow them to wear something they've created for themselves.
A shoe for every mood Fresh
Bust a Move
Building the Shoes of Prey brand Creating awareness and excitement - Creating demand through PR, events, social media - Engaging opinion leaders
Generating positive word of mouth - Encouraging sharing on social media - Offering incentives for referrals
Delivering an outstanding brand experience - Online - Offline - Localized - Personalized
Creating awareness and excitement • “Create” demand • Primacy of Internet – “zero moment of truth” • Broadcast media, events, social media • Engage opinion leaders • Special channels
Media mentions (Russia)
Delivering an outstanding experience Localized and personalized, both online and offline
Generating positive word of mouth • Encourage sharing on social media • Power of stories • Incentives for referrals – Social – Financial
• Blogs (internal and external) • Newsletter – easy to forward
Results - customer survey (Net Promoter Score: 0 = neutral, 15+ above average, 50+ excellent)* How satisfied were you with the level of customer service?
84.7 How likely are you to recommend Shoes of Prey to a friend or colleague?
67.7 Prior to purchasing from Shoes of Prey, did you know someone who had made a purchase from Shoes of Prey before?
11.3% of our customers knew someone who had purchased from us prior to ordering their shoes will no doubt grow as our customer base grows.
*some NPS comparisons: BMW (59) Apple (79) FedEx (56) Google (73) Amazon (73)
Recognition • Best New Online Retailer • Best Online Retail Marketing Initiative • Most Innovative Online Retailer
“Bricks and Clicks” TESCO / Homeplus, Korea
Augmented reality weâ€™ve already come so far
Online fitting using webcam
Augmented reality - technology SRI International / Microsoft Kinect
AR - implementations TOPSHOP / AR Door, Evropeisky
3-D virtual fitting room Fits.me
Some resources i-accelerator.ru startupwomen.ru springwise.com
L.S. Peter Prabhu BCom MPhil CA CPA Partner
Interstice Consulting LLP Tverskaya 9 Moscow 125009 Email: firstname.lastname@example.org Mob: +7 916 404 97 52 Blog: russkiebiz.wordpress.com