11 Jun Saving the future of retail
French retailers are still waiting for the President Macron’s effect…
French retail leaders have been expecting a 2018 Macron’s effect which was supposed to involve an accelerated growth and consumption rise. Even though employment and business investments have evolved in a good way in France, consumption remains at half-mast.
Since the beginning of the year, French retailers (especially in the food or fashion industries) are struggling. Some players mention strikes, others the weather, the school calendar or also the competition from the car market which is doing well (+ 4.4% over the first 4 months).
At B.D.C, we strongly believe that those cyclic factors just partly explain the underperformance of French retailers.
Jerome Gayet, Founder & President of B.D.C.
How to adapt, bounce back and more in Q3/Q4 2018, while remaining in a logic of digital transformation?
We believe it is important to act on 3 time-related levers that mobilise different energies and skills:
1. On the short term: it is important to finish the year correctly by prioritising 10 actions or projects with high commercial leverage or profitability.
2. On the mid-term: it is a question of laying down the foundations which will create, from 2019, a significant growth: new concept, new countries, new services…
3. On the long term: a deeper transformation of your business model is needed to stay competitive in the era of new retail that is rapidly opening before us.
For the past 9 years, we have been supporting dozens of retailers on these short, mid- and long term issues, with great successes and learnings… Let’s discuss if you recognise yourself in the following verbatims:
Christel Hennion, VP Marketing & Digital de Petit Bateau: “Thanks to the support of B.D.C., we were able to project more precisely the future customer experience that Petit Bateau will offer in its new concept of stores. The quality of the benchmark realised and the protocol for animation allowed us to generate a large number of ideas that will nourish effectively our project. We were able to confirm the strength of the co-design method used for the occasion”
Karl Hoquante, International Development Director at La Redoute: “We enjoyed the pragmatism of B.D.C. in the support of the activity transfer from our Milan office to our French team as well as the efficient implementation of the new cross-border model. The traffic management expertise and the management of a “pure-player” activity by B.D.C. was appreciated by the teams who were intelligently guided in their decisions. At the end, the switch was made without impacting our italian clients and the commercial results are encouraging ever since, far above our initial forecasts.”
Quick-wins from B.D.C. to bounce back quickly
Quick-Win # 1 – Identification of innovations relevant to your brand
In order to generate a significant digital/physical incremental turnover, we identify for each retailer digital innovations with high added value; from customer loyalty to artificial intelligence, social connect, payment or digital in-store…
Quick-Win # 2 – Improving the shopping journey
Knowing your strengths and areas for improvement is essential for retailers to offer a seamless customer experience. We test purchase journeys (from the product search to the return of the order through the analysis of the product page, the creation of the customer account or the methods of payment and delivery). We compare with your main competitors, carry out co-design workshops to create the customer experience of the future involving then your customers, your team and retail experts.
Quick-Win # 3 – Inspiration to accelerate its digital transformation
To make your team more comfortable with omnichannel, we realise Learning Expeditions for retailers in key locations of connected commerce (London, Paris, New York York, Shanghai, Barcelona, LATAM, etc.). A full and tailor-made program that includes meetings with disruptive Retail Tech startups, exchanges with local retailers to share experiences, retail tours focused on omnichannel, customer experience or digital in-store and workshops for your current project.