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Digital Marketing in Retail Digital Marketing in Retail What are the Benefits a Swiss Premium Department Store Could Reap When Adapting to the Changing Environment of Digitization? A Maturity Model. Bachelor’s thesis Date of submission: May 24, 2017 Zurich University of Applied Sciences School of Management and Law Lecturer: Brian Rüeger Student: Pascal Schöni, Blatterstrasse 13, 8400 Winterthur [email protected] Number: S14676662 Management summary The force of digitization has empowered customers with an omni-present access to a worldwide bazar of products and information. This shift has compelled traditional retail- ers to expand their channels and touchpoints to wherever the customer wishes to be served. The new scattered landscape of touchpoints and the rapid development of increas- ingly sophisticated technology have confronted marketers with new challenges and op- portunities alike. Meanwhile, Swiss premium department stores, are still considered ‘non- digital’. This thesis addressed their need for both an analysis of digital marketing tools and a guideline for its implementation. Therefore, the aim of this Bachelor’s thesis was to outline the benefits of a digital marketing transformation and to offer a new customer- centric digital marketing maturity model tailored to Swiss Premium Department Stores. The research therefore focused on determining maturity stages and goals through an anal- ysis of current marketing-, retail- and customer trends. Furthermore, digital marketing tools have been evaluated based on their benefits and were aligned to the corresponding stages. The findings show that a digital transformation is a rapidly evolving process retailers essentially need to keep up with. The thesis suggests three key milestones of a digital transformation to build an essential basis for the implementation of future technology: Mobile, big data and RFID. The major benefits of a digital transformation result from the increased connectivity of the customer that allows real-time interaction throughout the entire shopping journey. With new technological solutions, such as beacon technology, marketers are able to identify a customer before entering a store. Another major benefit, presents the increased on- and offline convergence, especially through interactive shop- ping tools such augmented reality. Both of the mentioned technologies benefit from big data, which allows to use a unified customer view to apply personalization as a powerful tool for almost any marketing appliance. Another significant finding is the extension of existing maturity models from a current final maturity stage of ‘omni-channel’ to ‘No- Line retail’. No-Line refers to collaboration with suppliers and competitors to jointly pro- mote a shopping area. The digital marketing maturity model has been tested at the example of Magazine zum Globus AG. Testing the model has proved its applicability. Nevertheless, it is not univer- sally valid. The model is tailored to Swiss Premium Department stores. Further research should focus on the possible synergies that can be generated within the retailing sector through emerging trends, such as smart-cities, to enhance ‘No-Line’ retail. Table of contents 1. Introduction ............................................................................................................... 1 2. Theoretical Framework ............................................................................................. 3 2.1. Premium department store ................................................................................. 3 2.2. Digitization in retail ........................................................................................... 3 2.3. Digital marketing ............................................................................................... 6 2.4. Maturity model .................................................................................................. 8 2.5. Methodology .................................................................................................... 10 3. Analysis ................................................................................................................... 12 3.1. Swiss retail landscape ...................................................................................... 12 3.2. Swiss digital landscape .................................................................................... 13 3.3. Paradigm shifts ................................................................................................ 17 3.3.1. Retail paradigm shifts ............................................................................... 17 3.3.1.1. Merger on- and offline channels ....................................................... 17 3.3.1.1. Interim conclusion ............................................................................. 20 3.3.2. Marketing paradigm shifts ........................................................................ 21 3.3.2.1. Short-term to Long-term relationships .............................................. 21 3.3.2.2. Customer centricity ........................................................................... 23 3.3.2.3. Push to pull marketing....................................................................... 24 3.3.2.4. Co-creation of value .......................................................................... 26 3.3.2.5. Interim conclusion ............................................................................. 27 3.3.3. Customer paradigm shifts ......................................................................... 28 3.3.3.1. Channels ............................................................................................ 28 3.3.3.2. Convenience ...................................................................................... 29 3.3.3.3. Experience ......................................................................................... 29 3.3.3.4. Personalisation .................................................................................. 30 3.3.3.5. Choice................................................................................................ 32 3.3.3.6. Price ................................................................................................... 32 3.3.3.7. Trust .................................................................................................. 33 3.3.3.8. Interim conclusion ............................................................................. 34 3.3.4. Conclusion Paradigm Shifts ..................................................................... 34 3.3.5. Customer journey mapping ...................................................................... 36 3.4. Technology ...................................................................................................... 40 3.4.1. Setting up touchpoints .............................................................................. 40 3.4.2. Website and e-commerce.......................................................................... 40 3.4.3. Display Ads .............................................................................................. 43 3.4.4. Search Engine Marketing ......................................................................... 44 3.4.4.1. SEO ................................................................................................... 45 3.4.4.2. SEA ................................................................................................... 46 3.4.5. Affiliate marketing ................................................................................... 47 3.4.6. Social media ............................................................................................. 47 3.4.6.1. Facebook ........................................................................................... 48 3.4.6.2. Instagram ........................................................................................... 48 3.4.6.3. Youtube ............................................................................................. 49 3.4.6.4. Others ................................................................................................ 49 3.4.6.5. Content marketing ............................................................................. 50 3.4.6.6. Viral marketing ................................................................................. 51 3.4.6.1. Application in retail ........................................................................... 52 3.4.7. Review sites .............................................................................................. 52 3.4.8. Mobile app and m-commerce ................................................................... 53 3.4.1. Loyalty programs ...................................................................................... 54 3.4.2. Connection of online and offline .............................................................. 56 3.4.3. No-Line ..................................................................................................... 58 3.4.1. Big Data .................................................................................................... 59 3.4.1.1. CRM-technology ............................................................................... 59 3.4.1.2. Application in retail ........................................................................... 61 3.4.2. IoT ............................................................................................................ 62 3.4.2.1. Retail tag; Barcodes .........................................................................
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