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7/30/2019 Final Presentation Mobile Shopping v5
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ADDING VALUE TO THE MOBILESHOPPING EXPERIENCESarah Pak
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2 MONTHS
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WHAT TEAM DID YOU LIKE THE BEST?
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WHAT KIND OF RELATIONSHIP DOCUSTOMERS HAVE WITH LOTTE?
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A companys greatness is grounded... in...employees,customers, suppliers, the community and the planet in
order to generate the greatest value over the longest termfor all parties, including the shareholders.
-Tony Schwartz, chief executive of the Energy Project
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We believe that a fundamental measure of our success
will be the shareholder value we create over the longterm...take a long term view, and the interests of
customers and shareholders align.-Jeff Bezos, CEO and founder of Amazon.com (and Princeton graduate)
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AMAZONS SALES REVENUES$61 billion vs Lottes $22.2 billion (2012)
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ALMOST NO PROFIT
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Apple, Facebook, Google,
AmazonWednesday, August 28, 13
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TRULY GREAT COMPANIES
ALL HAVE ONE THING INCOMMON.
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THEY ADD MORE VALUETHAN THEY TAKE AWAY.
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TRULY GREAT COMPANIES
Google created great internetsearch.
Facebook allows us tobefriend anyone andeveryone.
Amazon allows us to get
almost anything at great prices.
Apple created the first truesmartphone for the masses
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The world has changed. There are far more choices, butthere is less and less time to sort them out...the answer isto create something remarkable...something of value.
-Seth Godin, author of The Purple Cow
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CREATING VALUEFOR OUR STAKEHOLDERS.
1. WHAT DO OUR CUSTOMERS
LOOK LIKE?2. HOW?
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WHO IS OUR TARGETDEMOGRAPHIC?
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CREATING VALUE FOR OUR STAKEHOLDERS:TARGET DEMOGRAPHIC
Women and men, ages18-25
Heaviest mobile users
Most open-minded
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WHAT KIND OF APP WOULD
BE OF MOST USE TO OURCUSTOMERS?
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INSTEAD OF REPLICATING A FEATURE FROM A WEBSITE, WE TRY TO THINK ABOUT THE PLATFORM AND
SEE HOW WE CAN USE THE FACT THAT ITS THAT
PLATFORM TO MAKE IT EVEN BETTER.
- Yon Feldman, vice president of mobile for Gilt
CREATING VALUE FOR OUR STAKEHOLDERS:VALUE CREATION
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HOW DO PEOPLE USE THEIRMOBILE PHONES FOR SHOPPING?
Store locator
Comparing prices
Creating shopping lists
Using mobile coupons
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WHAT TYPE OF APPS DO THEBEST ON THIS PLATFORM?
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TOP FREE APPS4 of the top 5 apps are games
9 of the top 10 are gamesWednesday, August 28, 13
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TOP PAID APPS3 of the top 5 are games
5 of the top 10 are gamesWednesday, August 28, 13
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TOP GROSSING APPS4 of the top 5 are games
8 of the top 10 are gamesWednesday, August 28, 13
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Because games are fun
Because people are bored
WHY DO PEOPLE PLAY GAMES?
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THE PROPOSAL?
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TRANSFORM SHOPPING INTO(SOMETHING AKIN TO)
A GAME.
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ANIPANG
Reasons for success:
Based on Kakao Talk - friendssend friends hearts
Competition betweenfriends
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BUDGET MANAGEMENT GAME + SHOPPING
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FEATURES
Set spending goals
Create smart alerts
Friends can send you money to buy things (using Facebook)
Ranking system w/ prizes and rewards for reviewing
products
Integrated with an existing social network with a large userbase (Facebook, Kakao).
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CREATING LEVELSCreating a goal is crucial - games need to have clear incentives
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1. SET SPENDING GOALSAllow consumers to see purchase history and trends in their spending over
time, as well as decide how much they want to spend on different items (Mint)
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ENCOURAGE RESPONSIBLE SPENDINGA sustainable long-term strategy for growth.
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PURCHASES SHOULD BE CATEGORIZEDExpensive items could be listed as hard, and cheaper items
listed as easy
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BENEFITSBy having people provide us with their budgeting and planning, we
can get intimate details about their spending habits and psychology
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2. CREATE SMART NOTIFICATIONSCreate buy now or wait recommendations
e.g. Sale coming up - people should wait to buy something,or, people should buy now because the item is hot and selling fast (Kayak)
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3. ORGANIZE RECEIPTSKeep all your receipts, physical or digital, in one place.
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A CENTRAL REPOSITORY FOR ALL RECEIPTSMake it easier to return items and qualify for customer loyalty
programs (e.g. Angel-in-us card).
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DETAILED KNOWLEDGE OF CUSTOMER SPENDINGHABITS
We know exactly what you bought, and where you bought it.
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4. SOCIAL SPENDINGWork towards your goals - send friends money or
encouragement in the form of coupons (similar to Anipang)
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I.E. GROUP PURCHASEUse the elLotte app to coordinate purchases of extra-expensive
items, or birthday gifts.
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I.E. BIRTHDAY GIFT FOR TOADLets say that you want to buy a birthday gift for a friend, and you want to
contribute some amount of money. The app should help coordinatepurchases, and reward social spending activities more.
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5. RANKING SYSTEM WITH PRIZESAs you buy and review items, youre promoted to higher levels (get
rewarded with more coupons and invitations to private events)
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POTENTIAL CHALLENGESFOR
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BUDGET
We need to fully explore thecosts and benefits of creating
the app and collecting,storing, and using all this data.
Who is going to analyze thedata?
Where are we going to storethe data? How long are wegoing to keep this data?
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PROFITABILITY
Even though short-termprofit is not the goal, theapp needs to earn its keep.
May not immediately lead tohuge increases in sales.
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IMPLEMENTATION
Have to make sure that itmatches the Lotte image.
We have to make sure theapp is fun and useful inpeoples lives.
Fun with a sense of business- people are spending realmoney on this app.
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SECURITY AND PRIVACY
How is the privacy of
customers to be protected?
What will be the terms ofservice?
Will they vary acrosscountries?
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ENCOURAGING ADOPTIONThere needs to be a concrete plan to ensure that after the app
is created, customers know about it and download it.
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CONCLUSIONS
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NEW COMPETITORS
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A BRAVE NEW WORLD
Coming convergence
between physical and digitalretail.
Defining the future of
mobile shopping and service- developing an incrediblemobile experience will putLotte ahead in all the VRICs