Social Commerce and Local: The New Retail Environment: Jody Ford, VP Marketing eBay
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Jody Ford, VP of Marketing for eBay Marketplaces presented at BIA Kelsey's Leading in Local to discuss how social and local commerce are changing the global commerce landscape.
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Social Commerce and Local: The New Retail Environment: Jody Ford, VP Marketing eBay
- 1. Jody Ford VP, North America Marketplaces Social Commerce and Local: The New Retail Environment
- 2. VIDEO
- 3. A new retail is emerging. It’s consumer driven and technology enabled.
- 4. THE PHONE IS BECOMING A MISSION CONTROL DEVICE
- 5. CONSUMERS ARE ENGAGING ACROSS EVERY SCREEN
- 6. People want to get what they want, when they want it, wherever they are.
- 8. WE ARE UNIQUELY POSITIONED TO HELP BUSINESSES OF ALL SIZES WIN
- 9. $175 Billion
- 10. UTILITY search and buy Ave time/ visit ~4 mins GMV/ active user ~$500 p.a. ENGAGEMENT browse and discover Ave time /visit ~7 mins GMV/active user ~$20 p.a. OUR UNIQUE MARKET POSITION
- 11. 160M Active users 7 out of 10 Items sold are new 7 out of 10 Items sold are fixed price 190M+ Downloads of apps $13B mobile volume 2012 $20B expected in 2013 5.6M new users via mobile in Q3 EBAY MARKETPLACES
- 12. We’re innovating around customer needs.local
- 13. 75%OF TOTAL RETAIL SPENDING OCCURS 15 MILES FROM HOME
- 14. Source: Forrester Research Web-Influenced Retail Sales Forecast, 2011 To 2016 (US) 40% OF ALL RETAIL SPENDING INVOLVE SOME KIND OF ONLINE TRANSACT
- 15. We’re innovating around customer needs.local
- 17. User Valet
- 18. User Valet
- 19. ValetUser 2123
- 21. ChicagoChicago
- 22. Dallas London
- 23. We’re innovating around customer needs.local
- 24. 39%OF US CUSTOMERS PAID ONLINE & PICKED UP IN STORE
- 25. in-store pickup
- 27. 150 PICK-UP LOCATIONS 50K LISTINGS 25 SELLERS Consumer adoption is strong. Feedback is extremely positive.
- 28. We’re innovating around customer needs.local
- 30. MOBILE SITE “INTERACTIVE STOREFRONT” ONE-HOUR DELIVERY PAYPAL HERE A START TO FINISH EXPERIENCE WITH AVERAGE DELIVERY IN 49 MINUTES
- 31. Digital Storefront at Westfield Mall: REBECCA MINKOFF, SONY, TOMS, EBAY, PAYPAL
- 32. AND WE’RE PARTNERING WITH TOP BRANDS AND MERCHANTS AND PROPERTIES TO CREATE THE MALL OF THE FUTURE TOUCH STORE-FRONTS MALLS & AIRPORTS MOBILE MARKETPLAY
- 33. LESSONS LEARNED CUSTOMERS value choice & control RETAILERS appetite to partner for technical capabilities, reach, and footfall. TECHNOLOGY is not enough. Managing end-to-end is critical.
- 34. EBAY PARTNERS WITH BUSINESS OF ALL SIZES TO CONNECT BUYERS TO THE LOCAL INVENTORY THAT THEY NEED AND LOVE.
- 35. THANK YOU.
Notes de l'éditeur
- Hi everyone - thanks for coming today. I’m excited to be here to share with you where ebay sees commerce heading in the coming years and how we’re partnering what we’re doing to enable it. We’re on a journey to be the shopping destination of choice for buyers and the partner of choice for businesses of all sizes. Before I jump into it, let me show you a brief video that captures why I’m so excited about our future. You’ll see what the future of digital commerce might look like … and how it will impact peoples lives. Role the video
- VIDEO Let me show you a brief video that captures why I’m so excited about our future. You’ll see what the future of digital commerce might look like … and how it will impact peoples lives. [play video]
- At eBay we believe that commerce will change more in the next 3 years than it has in the past 20. This rapidly evolving environment is creating a “new retail.” It’s consumer driven, and technology enabled. Consumer behavior is clearly changing. Consumers are increasingly more engaged with brands and merchants that deliver the products and experiences they’re looking for, and they’re more informed than ever before. And it’s being led by mobile.
- Mobile commerce and social media are also having an impact. First, consumers are using tablets and smart phones as a mission control device– they’re doing research, they’re finding inspiration, they’re discovering coupons or other discounts from retailers who are taking advantage of mobile’s convenience – they’re chatting, checking out the weather. And then they’re buying, straight from their mobile devices. Second, consumers are using the ‘always-on’ nature of social media to get advice on where to shop and how to buy. They’re increasingly taking their shopping cues from the people they admire – in fashion, in consumer electronics, and more. Social media drives discussion about trends, brands, items, and experiences. More and more, social media is one of the first places consumers turn to discover what they want and how to get it.
- But it’s more than mobile. To engage with consumers in the “new retail”, you need to take a multi-screen approach. We must stop thinking of experiences across individual devices - and start thinking of holistic shopping experiences, where consumers can seamlessly engage with your brand across multiple screens, literally from wherever they are. At eBay, we’re finding that the multi-screen consumer is more highly engaged. They visit sites more frequently, and they buy significantly more when online. Multiscreen is device agnostic; that means every screen is shoppable. And because we can’t predict what the next great device will be, we must focus on providing customers with the best possible experience - regardless of the device – so consumers can shop when they want, for what they want.
- They want cheaper and faster shipping, better returns, improved customer service, and endless selection. These may seem like the basics of digital commerce, but the bar has been set high, and it is still rising. At the same time, an entirely new category of digital shopping has emerged, in just the last 18 months. This is shopping through browsing, discovery and even entertainment. It is less about fulfilling a mission – a need – and more about fulfilling a want or a passion. It is about being inspired, and about the joy and serendipity that often comes from physically shopping in stores. It’s clear, retail and commerce are fundamentally changing – and technology is the driving force. We expect this will cause the $10 Trillion commerce market to be turned on its head in the years to come. Retailers, brands and smaller sellers must now look for new ways to bring their goods to a more demanding and technology savvy customer. And that requires new thinking; a new way of merging the best of digital and traditional shopping. All of which points to a very exciting – and very different – future for both buyers and sellers.
- called on/offline cross over.. it’s the new battle ground… a way to tell story from commerce perspective?? If I research a product online, download a coupon, and then walk into a store and buy the product -- is that online or offline? And if I walk into a store, scan a product, and then buy it on my mobile device -- is that online or offline? Right. It’s both. And that changes everything. PAUSE Not surprisingly, advancements in how people can shop are leading to more-demanding shoppers. Today’s consumers want it all.
- We believe eBay Inc. is uniquely positioned to win in this new retail environment. Why? First, we have strong eBay and PayPal businesses – global commerce and payments platforms with 120 million and 132 million active users, respectively, and growing. Each business has ample growth opportunities in both established and emerging markets. We also have a third strong business –eBay Enterprise – formerly known as GSI Commerce gives us global enterprise commerce capabilities and extends our omnichannel demand generation capabilities. Combined with eBay and PayPal, eBay enterprise significantly strengthens our ability to partner with retailers and brands of all sizes and enable growth in an omnichannel world. I
- $175 billion…that’s a huge number by any standard. And guess what? This is how much commerce eBay Inc. enabled in 2012 … that’s through eBay, PayPal, and eBay Enterprise. This means that our company is now enabling 19 percent of global ecommerce and almost 2 percent of total global retail. That’s the power and the potential of eBay Inc. And we’re just getting started.
- The most important change we see in the retail space is this rising demand for both utility AND engagement. When we think about utility, we think about what buyers and sellers “need” from their shopping experience. Things that help reduce friction, speed up the shopping process and build trust. Things like fulfillment. Making sure that consumers have choices in how they can get their goods, and have confidence they will receive them. And we believe we can do that by occupying a very specific market position.. On the left, are big ecommerce players that look more and more like shopping utilities. They are efficient, and they have built standards around trust, price, buying and shipping that are reliable and well understood. On the right, there are a whole group of emerging players that are very engaging—even entertaining. They are less about find and buy, and more about browse and inform. But they are collectively getting enormous consumer attention and we are seeing the first signs of them achieving real commerce velocity. We believe we can occupy this unique market position. We will continue to build out all of the standards that will make us a better and more reliable place to buy and sell - while adding engagement, inspiration, curation and personalization to our experience. WHY IS THIS IMPORTANT?
- Today’s eBay isn’t what it used to be. Many people think of us only as an auction site. But that perception hasn’t kept up with reality. The reality is that more than 70% of what is sold on eBay is new merchandise, available for purchase immediately. We have more than 500 million items listed for sale, effectively making us the world’s biggest shopping destination. And we are making important changes to our business that put us in position to be the right partner for merchants, and the right platform for consumers – now and into the future.
- We’re innovating around customer needs. I’m going to cover three very different examples on how we approaching the local opportunity. We are partnering with retailers of all sizes to create engaging customer experiences. These innovations are address the consumer need for convenience and immediacy. Next year, you’ll see us begin to scale some of these models, and more innovations in parallel.
- So let’s take a look at the local market. It’s big. Of the total commerce market which is estimated to be about $10 Trillion, more than $2 Trillion of that is Local. Why is that important? Because 75% of total retail spending happens with 15 miles from home.
- This is important because 40% of all retail spending involves some sort of online interaction.
- A year ago, we introduced a new service called eBay Now. It was built on the idea that shoppers should be able to shop their local stores from anywhere - and have items delivered to them quickly, in about an hour.
- Let me walk you through the experience…
- You place the order… A courier who is on duty receives the order…
- And then you can keep track of the status as the courier moves closer to delivery…
- We are also enhancing the eBay Now shopping experience. Soon, we’ll be releasing one of the most requested features by eBay Now shoppers: scheduled delivery. This expands how people can think about and use eBay Now. Effectively, it becomes “eBay When I Want It.” Customers can buy something on their mobile phone, pick a time that works for their schedule, and have their items delivered to them then.
- A little over a month ago, we announced we were expanding the service to Chicago. In Chicago,we’re testing an entirely new fulfillment model through a strategic partnership with Shutl, a marketplace that uses a network of couriers to deliver local goods that same day. And we’re not stopping there. Dallas – another large metropolitan area - is about to launch. we are targeting to be in 25 cities by the end of 2014, including London in early 2014.
- Later this year we’ll be taking the service to shoppers in Dallas. And we’re not stopping there. We are targeting to be in 25 cities by the end of 2014, including London in early 2014.
- In October, we hit another important milestone in our local fulfillment strategy, adding local delivery and pick-up capabilities to the core eBay experience.
- This important because in the US, 39% of customer paid online and picked the item up in the store. And as we innovate to meet customer needs, we want to be sure people could shop the way they want to, on their terms.
- In October we enhanced our local fulfillment strategy even more, by adding local delivery and pick-up capabilities to the core eBay experience. Today, shoppers who buy items from North American retailers like Toys “R” Us, RadioShack or Best Buy on eBay.com can pick up their items in local stores, at a time that’s convenient to them.
- We are offering same-day delivery for local goods on eBay.com. This brings what consumers love about eBay Now – speed and convenience – to a much broader universe across our site. With these changes, we are getting closer to our ultimate vision of fulfillment on eBay. Customers shopping on eBay.com will be able to choose between having an item shipped to them; delivered quickly the same day, or ready for them to pick up at the store when it’s convenient. That’s a great and unmatched set of options for shoppers. Working with our retail partners, we intend to make eBay the most convenient way to shop locally. That’s a winning combination for consumers and retailers alike.
- In the UK, we announced plans to offer Click & Collect – which is what in-store pickup is called in the UK - for all large merchants who have capabilities to allow customers to pick up in their stores. We are currently running a pilot with Argos – a large retailer in the UK similar to Best Buy. As part of the pilot, we are partnering with 25 sellers, and at any given time, there are 50 live listings so consumers can take advantage of a large selection of items. To date, this option is proving extremely popular with a significant # of buyers choosing this option. Seller NPS is also extremely high. We’re very pleased with these initial results.
- And now I want to talk about Retail Innovation that leverages the power of the eBay Inc portfolio. We partner with Kate Spade to try something completely different…a digital storefront in 5 locations across Manhattan. Now Kate Spade didn’t have any physical stores in the area, so we what we did was work with them to deliver an experience that would engage shoppers in a natural way.
- eBay partnered with Kate Spade Saturday to launch 24-hour shoppable storefronts on the streets of downtown Manhattan. This experience brings the best of online shopping into the physical world. Kate Spade Saturday is tapping into eBay’s best innovations in mobile technology, same-day delivery, and seamless payment to create a fun, unique experience that allows pedestrians to shop an array of colorful fashion and lifestyle products 24-hours a day—with the added bonus of free delivery - in about an hour. All consumers have to do is touch the screen…and they can move from screen to screen using a swiping motion like you would with an ipad. Select from a selection of merchandise. Select the products you want Simply press the “CHECKOUT” button, securely enter in your phone number and receive a text message to schedule delivery. People could then schedule a free one-hour delivery using their mobile device. And then pay upon delivery using PayPal Here.
- All consumers had to do wais touch the screen…and they can move from screen to screen using a swiping motion like you would with an ipad. Select from a selection of merchandise. Select the products you want Simply press the “CHECKOUT” button, securely enter in your phone number and receive a text message to schedule delivery. People could then schedule a free one-hour delivery using their mobile device. And then pay upon delivery using PayPal Here. Of the 450,000 people passed in front of the storefronts over the 7 days, 100,000 of them stopped to try it out. Each person spent a little over a minute engaging with the screen. The average basket size delivered increased. And the ‘one-hour delivery’ via eBay now, actually took about 49 minutes on average. The results in Gansevoort were so good they ended up opening a pop-up shop in a place they wouldn’t have otherwise.
- Bay Inc. and Westfield Labs said Wednesday the companies were partnering with retailers Rebecca Minkoff, Sony and TOMS to power a trio of digital storefronts in the Westfield shopping mall in San Francisco. Consumers will be able to buy curated merchandise from each brand via a shoppable window, pay with PayPal, and then arrange for free home delivery or pick up within the mall for select items.
- Key lessons: 1) Customer values Choice & Control. 2) Retailers have strong appetite to partner – access to technical capabilities & Buyers/ footfall 3) Great tech is not enough. Managing end-to-end is critical …