“Kaihan shows how large organizations, not just startups, can be a place where entrepreneurs innovate, build, and adapt for the future.”
“Essential if you are itching to become more creative and tap into the resources of your company to create something amazing.”
“Kaihan provides practical, actionable steps for breaking down siloes, and ignites the drive to collaborate and accept the new opportunities that will soon come your way.”
“Kaihan really understood the key messages we were trying to get across to our senior leadership team. He incorporated those key messages around strategy and innovation into his speech, which was energizing, practical and impactful.”
“Kaihan provides the guide that any business, government, and organizations should use to ignite innovation from the bottom up.”
“Kaihan is a uniquely engaging speaker; he energizes and inspires. He uses cutting-edge business examples to make complex subjects simple, and offers the right balance of entertainment and deep insight.”
“A fresh new approach of how to succeed in our highly uncertain business climate.”
“Refreshing... speaks the truth. Many offer tools that might work. Kaihan offers tools that have been proven to work at the most innovative companies.”
“Kaihan Krippendorff breaks down the complex into relevant, practical, and actionable insights that engage, entertain, and inspire your audience.”
“Kaihan shows leaders how to ignite the curiosity, tenacity, initiative, and willingness to take risks your organization needs to innovate at scale. Listen to him if you want to maintain the dynamism and creativity the future demands.”
“Kaihan inspires and empowers people broadly throughout the organization to sustain change and achieve agile and innovative growth.”
“Stunningly engaging.”
“Kaihan shares a toolset and process companies and employees can leverage to bring ideas, both incremental and transformative, to fruition, to change the world and create a better future.”
“Kaihan shows that with a bold idea, anyone can change the world.”
“Startups get the headlines, but established companies are often the real innovation heroes. Kaihan shares tools and practical examples that help internal innovators combine entrepreneurial energy with assets of scale to innovate with impact.”
“Kaihan had over 700 business leaders captivated with his relevant content on how to build a business that disrupts your industry and distances yourself from your competition. He delivered!”
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TOP RETAIL KEYNOTE SPEAKER
Accelerating change and uncertainty for the future are hallmarks of the retail industry. Kaihan Krippendorff has delivered successful keynotes and workshops for some of the biggest brands in retail including: QVC, PVH, Calvin Klein, Tommy Hilfiger, Speedo, Verizon, McDonalds, CVS, and Ethical Acquisitions.
Omnichannel retail, new payment systems, personalized experiences, repurposing of storefronts, supply chain challenges, and labor shortages are all top of mind challenges facing retail. Now is the time to ensure your organization is prepared to think strategically, embrace creativity, and drive growth. When change happens there is opportunity to re-imagine business models, test new products, re-think how you engage employees, re-evaluate what impact your organization has on the world, and develop creative solutions to complex problems. Kaihan Krippendorff will bring your event to life with hand-crafted keynote on the future of retail for your organization.
Selecting the right keynote speaker for your retail event is one of the most important decisions you will make this year. Content, energy, ability to connect to an audience, and actionability are all important factors to consider. Former McKinsey Consultant, NYU Professor, bestselling author, and globally recognized authority on strategy, growth, and transformation, Kaihan Krippendorff will make your event an undeniable success with a customized retail keynote that leverages his unique perspective and deep experience in the industry.
The time to act is now. Don’t just be a Thinker. Be an Outthinker.
An active leader in retail, Kaihan brings deep industry experience, proprietary research, and exclusive insights to every keynote he delivers.
IF YOU DON'T LIKE CHANGE, YOU'RE GOING TO LIKE BEING IRRELEVANT EVEN LESS.
KAIHAN'S RETAIL INSIGHTS AND PERSPECTIVE
Context
Context
- Seventy-five percent of consumers prefer a personalized shopping experience (Retail42).
- Retailers saw a 35 percent increase in credit and debit card spending between January 2020 and January 2021 (McKinsey).
- As a result of the COVID-19 pandemic, digital shopping saw a 50 percent increase year-over-year in revenue at the end of 2020; purchases stemming from social media references increased 104 percent (Salesforce).
- Between Q4 2018 and Q4 2020, the percentage of adults who purchased products directly through social media channels doubled from 13 percent to 25 percent (Salesforce).
- E-commerce sales are projected to pass $6.5T in 2022, to $7.3T in 2024 (Motley Fool).
- By 2040, 95 percent of all purchases will be made online (Retail42).
Trends in Retail
Omnichannel Retail
New Payment Systems
Personalized Retail Experiences
Repurposing Storefronts
Omnichannel Retail
- With mobile commerce closing in on 50 percent of all digital commerce in the United States, the mobile-first approach to the shopping experience is a growing opportunity (MuleSoft, Gartner).
- Omnichannel retail marries digital touchpoints to physical touchpoints by creating a seamless purchasing experience across multiple devices and multiple locations. Customers who purchase through omnichannel structures spend 15-30 percent more than conventional customers (MuleSoft). Additionally, those same customers tend to interact more often with retailers’ channels—most often other digital touchpoints like mobile applications, personalization portals, and others (HBR).
- Outdoor retailer REI found that 75 percent of their customers shopped online or on their app before visiting the store. In a move to be mobile-first, REI offers free Wi-Fi to customers, and equips each in-store sales associate with a mobile device to better assist in-store customers who shopped digitally first (Shopify).
- Warby Parker sells eyeglasses primarily through digital channels, but offers customers valuable product testing experiences, such as libraries, in its retail locations around the United States and Canada (Shopify).
New Payment Systems
- It is expected that by 2024, cash will only account for 12.7 percent of spending, while digital wallets will account for 33.4 percent (Motley Fool).
- Growth in technology and retail have unlocked numerous ways to pay and are carving the way for even more payment options for customers. Many retail establishments can already accept a variety of digital, contactless forms of payment such as PayPal, MasterCard PayPass, and Android Pay (MuleSoft).
- Biometric authentication as a form of payment is also entering the retail space. In an experiment, 80 percent of people were satisfied using their fingerprint as authentication for contactless payment (Thales).
- At Amazon’s Whole Foods locations around Seattle, customers are able to pay for their transaction using their palm print, which is connected digitally to their credit card through Amazon One, the system behind it (Reuters).
Personalized Retail Experiences
- Today, customers expect retail experiences that meet their individual needs. Eighty percent of customers want personalized experiences when they shop (Epsilon). Companies who implement personalization programs successfully have seen 20 percent higher customer satisfaction, a 10-15 percent increase in sales-conversion rates, and a 20-30 percent increase in overall employee engagement (McKinsey).
- Customers are increasingly willing to share personal data with companies if that information will be used to give them offers and discounts in the future (Salesforce). Using data collection, analytics, and implementation tools, companies can create personalized experiences for customers and increase positive interactions at the individual level.
- Members in Nike’s NikePlus program are given a number of personalized options to make their Nike experience better: access to an exclusive storefront, one-on-one appointments with Nike experts, and access to Nike by You, which allows members to fully customize their Nike shoes and view them in real time (McKinsey).
Repurposing Storefronts
- In correlation with the growth of omnichannel retail strategies, companies are seeing value in redesigning their storefronts to serve a different purpose.
- Customers are spending an increasing amount of time and money online, and visiting stores less often. The retail store must be treated as a brand-building experience rather than a transactional salespoint (McKinsey).
- Successful redesigning of storefronts in a customer-centric way has the potential to increase sales by 10-15 percent and customer satisfaction by 20 percent (McKinsey).
- Capital One is redesigning the meaning of in-person banking with the addition of cafes in which customers and non-customers can commune, collaborate, and caffeinate, all while having banking staff present for services such as financial coaching and account opening (Forbes).
- There is movement in the zero-inventory store (ZIS) category as well, with companies such as Bonobos keeping only display inventory in-store and moving all transactions and fulfilment to the digital space (Forbes); this allows customers to see, touch, and experience products while keeping outstanding inventory and associated costs at a minimum.
The Outthinker 8P framework – opportunities for disruption and innovation in retail
Outthinkers
- Nike is restructuring its business model to satisfy a digital-first, direct-to-consumer strategy, ending partnerships with wholesale chains like Belk, Dillard’s, and Zappos (Fast Company).
- In 2020, the athletic and athleisure apparel company saw an 83 percent explosion in digital sales.
- During the pandemic, Nike connected with its customers with free training videos uploaded on YouTube, and made its Nike Training Club app free, gaining 25 million members in Q4 2020.
- Nike also released the Nike Experience app, which connected members in cities to weekly activities, in-house workshops, and events hosted by recognized athletes (Fast Company).
- Shopify provides e-commerce and point-of-sale services to retailers.
- During the pandemic, Shopify targeted businesses most impacted by reduced foot traffic with a suite of tools to launch online retail operations “overnight” (Fast Company).
- In its Shop app, Shopify made local businesses visible to online shoppers in an effort to reduce the impact of reduced foot traffic and to assist shoppers in supporting businesses in their communities.
- At the end of 2020, Shopify completed a deal to allow stores to accept payment through Alipay.
- Additionally, Shopify designed ways to display “shoppable ads” on TikTok, creating a direct sales channel between social media and seller (Fast Company).
- The gross merchandise value of products in circulation in Shopify reached $41.1B in Q4 2020, with their revenue skyrocketing to $2.93B, an 86 percent increase.
- More than 60 percent of consumers start their online shopping searches on Amazon.com.
- Amazon’s revenue from its marketplace sellers increased by more than 50 percent in 2020 compared to 2019 (ECommerce Times). Net sales increased 38 percent (Forbes).
- In 2021, the most successful brands will embrace Amazon and its e-commerce as a top channel and an extension of their own website (ECommerce Times).
- Amazon has opened its own salon to offer hair services with new technologies including augmented reality hair consultations, entertainment options on Amazon tablets, and point-and-learn QR codes to order items for home delivery (WSJ).
