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The Challenges and Choices Fashion Brands face when going Mobile
Jonathan Setty, Sales Director, MoPowered PLC
1
Lancaster London Lancaster Terrace,
London W2 2TY
8th April 2014
I love this slide…!
• 2008 – this is the year of mobile
• 2009 – THIS is the year of mobile
• 2010 – this IS the year of mobile
• 2011 – this is THE year of mobile
• 2012 – this is the YEAR of mobile
• 2013 – this is the year of MOBILE
• 2014 – this is the year of mobile SHOPPING
2
Consumer adoption vs. Mobile Shopping lag Popula
tion
Time
Mobile Adoption
Mobile Shopping
3
Challenges Facing Fashion Retailers – what to consider ?
4
• Key Challenge I – Checkout Abandonment : Monetising Mobile
• Key Challenge II - Apps - “…but all the other stores have one”
• Key Challenge III - Future proofing your fashion brand
• Wearable tech - …would you wear this ?!
5
The MoPowered PLC story
6
2007 2009 2012 2014+
120 customers across mobile
web/apps/tablet Developed the MoPowered
m-commerce Platform
Additional in-App commerce
functionality
Pioneered Mobile
Banking
“MoBank”
The MoPowered PLC story
Partners with Leading e-commerce Technology Companies
7
120+ retailers on our platform
and over 50 more.
8
9
Key Challenge I – Monetising the Mobile Channel
• What am I looking to achieve for my fashion brand. Revenue Uplift? Customer Experience? Engagement?
• How do I demonstrate an ROI?
• What do I need to address to achieve the above?
In mobile,
you need to
rethink payment
and provide the
best user
experience M-commerce
is set to
quadruple to 2017
10
Factors that affect success on Mobile
Speed/performance
Navigation
Checkout
• Page weight
• Image size
• Web technology
• Simple/mobile specific
• Task driven
• Quick/text light
• Mobile payment
options
Lots of ££ spent on branding & acquiring traffic…
Paid Display Paid Search Affiliate Sponsorship
Earned SEO WOM Buzz Viral
Owned Websites Mobile Blogs Social Accounts
ROI
Traffic acquisition spend
“For every £80 spent on acquisition only £1 is spent on conversion.”
Forrester Research
Low relevance and poor experience produces low:
• Engagement • Conversion rates • Average order value • Retention
3%
11
12
Checkout abandonment is the biggest challenge
97%
Mobile
shopping
basket attrition
rates are
around 97%
13
Mobile Channel Business Case
Solving the Problem by Addressing the Issues
14
Every
100ms delay
costs
1% of sales
• Turn frustrated browsers into happy buyers through speed and performance improvements
• Develop navigation on mobile which is contextual and follows best practice
• Tailor your checkout to the mobile experience
“There’s a direct correlation between page load speed and conversion”
Andy Harding (Executive Director,
Multi Channel @ House of Fraser)
Streamlining Checkout – Fast. Light. Easy
Streamlining Checkout – Fast. Light. Easy
= £££
Challenge I - Summary
17
• Select a partner with demonstrable mobile experience with live “successful” sites
• Ensure any partner is willing to commit to an ROI based on conversion uplift
• Ensure the cost of support and maintenance is in-line with an on-going ROI – no
nasty surprises!
Before Difficult to
view, browse, checkout
After Easy to shop and purchase
18
The Mobile vs. App debate…
Key Challenge II – I want an App too…
Mobile vs. App
Not strictly an either or decision.
Use
r E
xp
eri
en
ce
Cost & Time to Market
Mobile Web RIM
iOS
Windows
Android
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Challenge II - Summary
20
• Use data to determine the outcome
» – your customers are your insights!
• Leverage off the existing integration / mobile site
» Speed
» Navigation
» Checkout
Key Challenge III - Future-Proof your Fashion Brand
21
1
2
3
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Key Challenge III - Future-Proof your Fashion Brand
If possible, leverage off the existing integration / mobile site when building for new devices
NFC
Heartbeat
Service Availability
QR Codes
Uptime
MI
Vouchers
Messaging
CMS
Data Access Layer
Business logic
HMTL rendering/device API
A truly modular architecture, delivers across devices
CLIENT
23
iBeacon
How times have changed…
24
And finally… would you ever wear this ??!
25
Holographic leather reacts to sound. As volume increases, it begins to illuminate and make "visual music." The bathing suit reacts to light, with the centre panel turning into purple dots in the sun
Eye-tracking technology, - move when someone is looking at them. When the garment is gazed at for a time, tiny motors move parts of it in patterns. They also glow. covered in photo-luminescent thread