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Published byRandolf Welch Modified over 9 years ago
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Introduction: Richard Guiney, CEO DublinTown
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A TIME OF RAPID CHANGE THE WORLD IS CHANGING VERY FAST & WE NEED TO ADAPT USE OF CITIES IS BEING REDEFINED 21st century will be defined by technology ADVENT OF M-COMMERCE Mobile enabled website Retailers must be multi-channel Evenings & Sundays
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We’re talking big numbers here & the rate of change is rapid: Gone are the days when we had to wait to share our experiences by word of mouth. Now we upload videos, share photos, chat, tweet and connect instantly. - It is estimated there will be 50 billion connected devices in the world by 2020 - 500m photos are uploaded and shared online every day - Today 100 hours of video are uploaded to Youtube every minute (compared to 0 hours in 2007)
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Customers demand digital… Nearly 20% of consumers surveyed by PWC are spending more than half of their disposable income online [PricewaterhouseCoopers] 72% of consumers use their smartphone in-store and 42% make use of in-store multimedia shopping aids [DigitasLBi] By 2016, 23% of total retail spend, and 37% of total advertising revenues will be online. Small businesses that use the web frequently have higher sales growth (x3) those that don’t. [Boston Consulting Group] Mobile devices are the fastest growing technology for consumers to access content and services online, accounting for 20% of all ICT sales in 2013, and 57% of ICT market growth [International Data Corporation]
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DIRECT IMPACT OF M-COMMERCE
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Retailers lacking digital experiences risk sales £156.8 BN of spend is influenced by digital. What happens if digital channels are not offered? CONSUMERS WHO WOULD BUY LESS WITHOUT DIGITAL OFFERING: 5.5% TOTAL SPEND LOST FROM THIS GROUP: £4.3BN CONSUMERS WHO WOULD USE ANOTHER RETAILER: 4.1% TOTAL SPEND LOST FROM THIS GROUP: £7.9BN TOTAL CONSUMERS WHO WOULD TAKE ACTION: 9.6% TOTAL SPEND LOST FROM THIS GROUP: £12.2BN
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FACING THE CHALLENGE THE BUILDING OF EXPERIENCE EVENING TIME USE 65% would shop and socialise if shops stayed open 80% want to socialise as part of the same trip DISTRICT IDENTITIES Each district must have its own identity & range of offer
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UNDERSTANDING THE PSYCHOLOGY
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FOOTFALL COMPARISON
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