on The Impact of Technology on the Retail Environment.

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Presentation transcript:

on The Impact of Technology on the Retail Environment

bringing market driven solutions to companies with significant property portfolios bringing market driven solutions to companies with significant property portfolios operational strategists at the cutting edge operational strategists at the cutting edge focus on infrastructure integration focus on infrastructure integration specialists in retail property and e-commerce specialists in retail property and e-commerce value adding to property portfolios value adding to property portfolios expertise with telco’s and financial institutions expertise with telco’s and financial institutions setting performance measurements and benchmarks for CRE and IRE, who are each examining new ways of doing business and setting up more flexible infrastructures setting performance measurements and benchmarks for CRE and IRE, who are each examining new ways of doing business and setting up more flexible infrastructures bringing market driven solutions to companies with significant property portfolios bringing market driven solutions to companies with significant property portfolios operational strategists at the cutting edge operational strategists at the cutting edge focus on infrastructure integration focus on infrastructure integration specialists in retail property and e-commerce specialists in retail property and e-commerce value adding to property portfolios value adding to property portfolios expertise with telco’s and financial institutions expertise with telco’s and financial institutions setting performance measurements and benchmarks for CRE and IRE, who are each examining new ways of doing business and setting up more flexible infrastructures setting performance measurements and benchmarks for CRE and IRE, who are each examining new ways of doing business and setting up more flexible infrastructures

OutlineOutline The Retail environment The Retail environment US and Australian experience US and Australian experience Impact of technology and the Retail quandary Impact of technology and the Retail quandary Convergence implications Convergence implications Business models - from Place to Space Business models - from Place to Space Impact on property and business management Impact on property and business management The Retail environment The Retail environment US and Australian experience US and Australian experience Impact of technology and the Retail quandary Impact of technology and the Retail quandary Convergence implications Convergence implications Business models - from Place to Space Business models - from Place to Space Impact on property and business management Impact on property and business management

What’s happening now in Australia Retailing accounts for > 30% of Aust. economy($120b) Retailing accounts for > 30% of Aust. economy($120b) 50% of Aust. families own computers and half on net 50% of Aust. families own computers and half on net Australians 5th largest internet users in world Australians 5th largest internet users in world 3.5 m. users; predicted to double by m. users; predicted to double by 2002 Internet generated revenue $2.1b to grow to $16b by 2002 Internet generated revenue $2.1b to grow to $16b by % of internet users are>30 year old bracket 63% of internet users are>30 year old bracket US market growing at an annualised rate of 190%; Australian market 18 months behind US market growing at an annualised rate of 190%; Australian market 18 months behind Recent ACRS report showed: Recent ACRS report showed: 42.5% of retailers have an e-commerce strategy, with a focus on information and brand building; 42.5% of retailers have an e-commerce strategy, with a focus on information and brand building; specialty retailers’ internet sales to increase from 15.8% this year to 61.9% in 2002 specialty retailers’ internet sales to increase from 15.8% this year to 61.9% in 2002 Retailing accounts for > 30% of Aust. economy($120b) Retailing accounts for > 30% of Aust. economy($120b) 50% of Aust. families own computers and half on net 50% of Aust. families own computers and half on net Australians 5th largest internet users in world Australians 5th largest internet users in world 3.5 m. users; predicted to double by m. users; predicted to double by 2002 Internet generated revenue $2.1b to grow to $16b by 2002 Internet generated revenue $2.1b to grow to $16b by % of internet users are>30 year old bracket 63% of internet users are>30 year old bracket US market growing at an annualised rate of 190%; Australian market 18 months behind US market growing at an annualised rate of 190%; Australian market 18 months behind Recent ACRS report showed: Recent ACRS report showed: 42.5% of retailers have an e-commerce strategy, with a focus on information and brand building; 42.5% of retailers have an e-commerce strategy, with a focus on information and brand building; specialty retailers’ internet sales to increase from 15.8% this year to 61.9% in 2002 specialty retailers’ internet sales to increase from 15.8% this year to 61.9% in 2002

Why the Net?... Information Historic trade-off Catalogues REACH (Customers contacted) RICHNESS (amt. of info, degree of interaction) INTERNET (rich info at zero management cost) LO HI

The retail quandary how to open new distribution channels without losing old ones (replacing bricks and mortar with digital assets) how to open new distribution channels without losing old ones (replacing bricks and mortar with digital assets) direct to consumers via web, or protect traditional channels direct to consumers via web, or protect traditional channels the new consumer mantra - my time, my place the new consumer mantra - my time, my place successfully tying together digital and physical commerce is not easily replicable by online firms successfully tying together digital and physical commerce is not easily replicable by online firms managing the supply chain to meet increased demand managing the supply chain to meet increased demand the delivery chain that runs forwards towards customers has hardly changed at all in the past 100 years …until now the delivery chain that runs forwards towards customers has hardly changed at all in the past 100 years …until now inadequacy of online ordering unless linked with real world fulfilment inadequacy of online ordering unless linked with real world fulfilment how to open new distribution channels without losing old ones (replacing bricks and mortar with digital assets) how to open new distribution channels without losing old ones (replacing bricks and mortar with digital assets) direct to consumers via web, or protect traditional channels direct to consumers via web, or protect traditional channels the new consumer mantra - my time, my place the new consumer mantra - my time, my place successfully tying together digital and physical commerce is not easily replicable by online firms successfully tying together digital and physical commerce is not easily replicable by online firms managing the supply chain to meet increased demand managing the supply chain to meet increased demand the delivery chain that runs forwards towards customers has hardly changed at all in the past 100 years …until now the delivery chain that runs forwards towards customers has hardly changed at all in the past 100 years …until now inadequacy of online ordering unless linked with real world fulfilment inadequacy of online ordering unless linked with real world fulfilment

Impact of technology - US trends Online US chains (Wal-mart, GAP, Nordstrom) are considering a multi-channel approach that includes aggressive global expansion policies including major on-line strategies Online US chains (Wal-mart, GAP, Nordstrom) are considering a multi-channel approach that includes aggressive global expansion policies including major on-line strategies stores are creating effective feedback loops: stores are creating effective feedback loops: store - website - catalogue - store store - website - catalogue - store physical retailers are setting up effective feedback loops between stores and websites physical retailers are setting up effective feedback loops between stores and websites bricks and mortar sites become the best advertisements that online brands can buy bricks and mortar sites become the best advertisements that online brands can buy big box retailers on the move : big box retailers on the move : Kmart with Yahoo Kmart with Yahoo Wal-Mart with AOL Wal-Mart with AOL Microsoft and Best Buy Microsoft and Best Buy Online US chains (Wal-mart, GAP, Nordstrom) are considering a multi-channel approach that includes aggressive global expansion policies including major on-line strategies Online US chains (Wal-mart, GAP, Nordstrom) are considering a multi-channel approach that includes aggressive global expansion policies including major on-line strategies stores are creating effective feedback loops: stores are creating effective feedback loops: store - website - catalogue - store store - website - catalogue - store physical retailers are setting up effective feedback loops between stores and websites physical retailers are setting up effective feedback loops between stores and websites bricks and mortar sites become the best advertisements that online brands can buy bricks and mortar sites become the best advertisements that online brands can buy big box retailers on the move : big box retailers on the move : Kmart with Yahoo Kmart with Yahoo Wal-Mart with AOL Wal-Mart with AOL Microsoft and Best Buy Microsoft and Best Buy

From Market Place to Market Space value creation has moved from Place to Space value creation has moved from Place to Space currently, retail chains have value creation distributed through both Place and Space: currently, retail chains have value creation distributed through both Place and Space: Place (mfg, packaging, distn, mktg) Place (mfg, packaging, distn, mktg) Space (e-payment, EDI from mfrs, info on purchasing patterns) Space (e-payment, EDI from mfrs, info on purchasing patterns) value creation has moved from Place to Space value creation has moved from Place to Space currently, retail chains have value creation distributed through both Place and Space: currently, retail chains have value creation distributed through both Place and Space: Place (mfg, packaging, distn, mktg) Place (mfg, packaging, distn, mktg) Space (e-payment, EDI from mfrs, info on purchasing patterns) Space (e-payment, EDI from mfrs, info on purchasing patterns) manufacturerwholesalerretailerconsumer

Impact on Property substantial changes are taking place - most visible in finance and services - up to 50% space under stress - which will progressively alter the ‘face of offer’ of shopping centres as consumers become ‘connected consumers’ substantial changes are taking place - most visible in finance and services - up to 50% space under stress - which will progressively alter the ‘face of offer’ of shopping centres as consumers become ‘connected consumers’ harness change by business mix planning, taking care not to take a historical ‘set’ on shopping centre design and mix harness change by business mix planning, taking care not to take a historical ‘set’ on shopping centre design and mix formulate strategies to mirror centre management approach to manage the new economy formulate strategies to mirror centre management approach to manage the new economy policies to encourage non-commodity lifestyle retailers: policies to encourage non-commodity lifestyle retailers: Borders coffee/bookshop Borders coffee/bookshop BMW café - Southbank BMW café - Southbank substantial changes are taking place - most visible in finance and services - up to 50% space under stress - which will progressively alter the ‘face of offer’ of shopping centres as consumers become ‘connected consumers’ substantial changes are taking place - most visible in finance and services - up to 50% space under stress - which will progressively alter the ‘face of offer’ of shopping centres as consumers become ‘connected consumers’ harness change by business mix planning, taking care not to take a historical ‘set’ on shopping centre design and mix harness change by business mix planning, taking care not to take a historical ‘set’ on shopping centre design and mix formulate strategies to mirror centre management approach to manage the new economy formulate strategies to mirror centre management approach to manage the new economy policies to encourage non-commodity lifestyle retailers: policies to encourage non-commodity lifestyle retailers: Borders coffee/bookshop Borders coffee/bookshop BMW café - Southbank BMW café - Southbank

Impact on management creating an e-commerce business culture creating an e-commerce business culture ensuring staff own the project ensuring staff own the project treating the website as a separate business treating the website as a separate business reduction of inventory costs reduction of inventory costs ensuring efficient physical distribution ensuring efficient physical distribution database management, application of direct marketing skills to capture knowledge database management, application of direct marketing skills to capture knowledge simple, reliable technology simple, reliable technology branding to achieve consumer quality branding to achieve consumer quality no duplication of high labour costs or physical facilities no duplication of high labour costs or physical facilities commitment to e-commerce by all stakeholders - suppliers, manufacturers and retailers commitment to e-commerce by all stakeholders - suppliers, manufacturers and retailers creating an e-commerce business culture creating an e-commerce business culture ensuring staff own the project ensuring staff own the project treating the website as a separate business treating the website as a separate business reduction of inventory costs reduction of inventory costs ensuring efficient physical distribution ensuring efficient physical distribution database management, application of direct marketing skills to capture knowledge database management, application of direct marketing skills to capture knowledge simple, reliable technology simple, reliable technology branding to achieve consumer quality branding to achieve consumer quality no duplication of high labour costs or physical facilities no duplication of high labour costs or physical facilities commitment to e-commerce by all stakeholders - suppliers, manufacturers and retailers commitment to e-commerce by all stakeholders - suppliers, manufacturers and retailers

Clicks and Bricks Pty Ltd -advisors to CRE and IRE managers tailored property and technology solutions for CRE and IRE managers tailored property and technology solutions for CRE and IRE managers property infrastructure planning (CIR) and associated systems integration property infrastructure planning (CIR) and associated systems integration development of on-line/offline business strategies, with a focus on retail property development of on-line/offline business strategies, with a focus on retail property venture creation within new economy venture creation within new economy business development business development tailored property and technology solutions for CRE and IRE managers tailored property and technology solutions for CRE and IRE managers property infrastructure planning (CIR) and associated systems integration property infrastructure planning (CIR) and associated systems integration development of on-line/offline business strategies, with a focus on retail property development of on-line/offline business strategies, with a focus on retail property venture creation within new economy venture creation within new economy business development business development

PropertyTechnologye-Business operational strategies PropertyTechnologye-Business Collins Street, Melbourne VIC Collins Street, Melbourne VIC 3000 Ph: (03) Fax: (03)