贝恩-2017-2018年假日零售通讯：假日零售回顾与2018展望（英文）-2018.1-13页-2mb

BAIN RETAIL HOLIDAY NEWSLETTER Summary

Core Content

This document provides a post-holiday recap and strategic resolutions for retailers in 2018, highlighting the success of the 2017 holiday season and offering insights into how retailers can leverage this momentum for long-term growth.

Key Highlights

• Retail Sales Growth:
  Retail sales during the 2017 holiday season grew by 5.6%, the highest since 2014.

  • In-store sales increased by 4.3%, a significant jump compared to last year, with categories like building materials (8.1%) and furniture and home furnishings (7.5%) showing strong performance.
  • E-commerce also saw robust growth, with estimates ranging from 10% to 18%, and the author predicts it will end up in the mid-teens.
  • Mobile commerce was a key driver, with mobile website sales up 28% and mobile app usage rising by 62%.
  • Amazon dominated e-commerce, accounting for 50% of online holiday sales, up from 39% the previous year.
  • Prime membership growth was significant, with over 4 million people starting free trials or paying for memberships in one holiday week alone.

• Tax Breaks:
  Lower tax rates on income and foreign-cash repatriation provided an additional financial boost for retailers.

• Omnichannel Strategy:
  The success of in-store and online sales reinforces the importance of omnichannel integration. Retailers must create seamless, differentiated experiences across all channels.

• Customer Experience:
  Retailers must focus on key moments in the customer journey and ensure that checkout processes are optimized across all touchpoints. They should use real-time feedback and social listening to understand and improve customer satisfaction.

• Talent Utilization:
  Retailers should empower top talent by giving them more responsibility and removing hierarchical barriers. This leads to greater innovation and productivity.

• Cost Management:
  Zero-based budgeting (ZBB) is recommended to identify and eliminate waste, but it must be combined with zero-based redesign (ZBR) to support innovation and growth.

Main Resolutions

1. "Don't be an idiot" – Change the Game

   • Retailers should move beyond short-term fixes and invest in long-term innovations.
   • They should think from the future back, developing initiatives that could change the retail landscape in 5 to 7 years.
   • Budgeting should be strategic and flexible, allowing for adaptation and iteration.

2. Give Investors, Employees and Customers Beacons of Hope

   • Retailers should create integrated solutions that wow all stakeholders.
   • They should focus on creating systems that support innovation and customer-centric approaches.
   • Empowerment and trust are essential to driving long-term success.

3. Improve Products and Services

   • Product quality and innovation are critical.
   • Retailers should reinvest in merchandising and design, while also enhancing customer services.
   • Use storytelling and exclusive offerings to differentiate and add value.

4. Improve Customer Experiences Where They Matter Most

   • Retailers must identify and prioritize the most important customer experiences.
   • They should break down silos and empower cross-functional teams to deliver a seamless experience.
   • Focus on iterative improvements and quick fixes for the most pressing issues.

5. Unleash Wasted Talent

   • Retailers should remove hierarchical layers and empower employees.
   • Top talent should be given more responsibility and autonomy.
   • A culture of innovation and professional development is key to retaining and motivating employees.

6. "Zero-Base" to Fuel Growth and Innovation

   • Implement zero-based budgeting to cut waste and improve productivity.
   • Combine it with zero-based redesign to simplify and improve operations.
   • The goal is to reduce costs and complexity while supporting innovation.

Conclusion

Despite warnings of a retail apocalypse, the document suggests that retailers who survive and thrive will focus on customer-centric decisions and long-term changes. It encourages retailers to capitalize on the momentum of the 2017 holiday season and invest in omnichannel integration, product innovation, and employee empowerment to secure a competitive edge in 2018 and beyond.