REI Presentation

67
CONNECT TO THE GREAT OUTDOORS

Transcript of REI Presentation

CONNECT TO THE GREAT OUTDOORS

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

HOW CAN REI CONTINUE TO GROW AND THRIVE?

CONNECT PEOPLE TO

THE OUTDOORS

ELEVATE VALUE OF REI CO-OP

DRIVE MEMBERSHIP

GROWTH

TRAILHEAD YOUR ASK & OUR STRATEGY

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

INTEGRATE ONLINE + IN-STORE

FOSTER MEMBERSHIP COMMUNITY

SIMPLIFY CUSTOMER

EXPERIENCE

myREI TRAILHEAD YOUR ASK & OUR STRATEGY

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INDUSTRY ANALYSIS & TRENDS

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ONLINE RETAILERS

SPECIALTY LOCAL SHOPS

BRICK & MORTAR RETAILERS

ENVIRONMENT INDUSTRY ANALYSIS & TRENDS

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54 MILLION

AMAZON PRIME MEMBERS

ENVIRONMENT INDUSTRY ANALYSIS & TRENDS

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ONLINE RETAILERS

ENVIRONMENT INDUSTRY ANALYSIS & TRENDS

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BRICK & MORTAR RETAILERS

SOCIAL MEDIA MENTIONS

3.2 MILLION

THE NORTH FACE

58 THOUSAND

REI

ENVIRONMENT INDUSTRY ANALYSIS & TRENDS

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SPECIALTY LOCAL SHOPS

4,000+

SPECIALTY BIKE RETAILERS

PREVELANCE OF ONLINE &

MOBILE SHOPPING

INCREASE IN MILLENNIAL

PURCHASING POWER

GROWING POPULARITY OF FITNESS APPS

ENVIRONMENT INDUSTRY ANALYSIS & TRENDS

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INCREASE IN MILLENNIAL

PURCHASING POWER

MILLENNIALS SPEND MORE THAN

$200 BILLION

ANNUALLY

ENVIRONMENT INDUSTRY ANALYSIS & TRENDS

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PREVELANCE OF ONLINE &

MOBILE SHOPPING

64% OF MILLENNIALS USE THEIR

SMARTPHONES TO PURCHASE PRODUCTS ONLINE

ENVIRONMENT INDUSTRY ANALYSIS & TRENDS

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GROWING POPULARITY OF FITNESS APPS

62% GROWTH IN DAILY USE

OF FITNESS APPS VS. 33% IN ALL OTHER APPS

ENVIRONMENT INDUSTRY ANALYSIS & TRENDS

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S W

O T

GEAR STRATEGIC RESOURCES & CAPABILITIES OF REI

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  6 Million Loyal Members   High Employee Satisfaction   In-store Experience   Brand Equity

Strengths W

O T

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GEAR STRATEGIC RESOURCES & CAPABILITIES OF REI

  Under-Promotion of Co-Op Structure   Lack of Member

Engagement

S Weaknesses

O T

GEAR STRATEGIC RESOURCES & CAPABILITIES OF REI

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  Personalize Customer Experience   Leverage Social Media   Incorporate Technology In-Store

and Outdoors

S W

Opportunities T

GEAR STRATEGIC RESOURCES & CAPABILITIES OF REI

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  Changing Demographics   Showroom Effect   Low Outdoor Interest Among

Millennials

S W

O Threats

GEAR STRATEGIC RESOURCES & CAPABILITIES OF REI

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WEARABLE TECHNOLOGY

FASHION VS. FUNCTION

MEMBER COMMUNITY APP

GEAR STRATEGIC RESOURCES & CAPABILITIES OF REI

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BRAND EQUITY

PROMOTES CO-OP

ATTRACTS MILLENNIALS

& WOMEN

PROFIT- ABILITY

RISK / FEASIBILITY

BENEFITS MEMBERS

GEAR STRATEGIC RESOURCES & CAPABILITIES OF REI

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

BRAND EQUITY

PROMOTES CO-OP

ATTRACTS MILLENNIALS

& WOMEN

PROFIT- ABILITY

RISK / FEASIBILITY

BENEFITS MEMBERS

+6

GEAR STRATEGIC RESOURCES & CAPABILITIES OF REI

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

BRAND EQUITY

PROMOTES CO-OP

ATTRACTS MILLENNIALS

& WOMEN

PROFIT- ABILITY

RISK / FEASIBILITY

BENEFITS MEMBERS

+6 +3

GEAR STRATEGIC RESOURCES & CAPABILITIES OF REI

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

BRAND EQUITY

PROMOTES CO-OP

ATTRACTS MILLENNIALS

& WOMEN

PROFIT- ABILITY

RISK / FEASIBILITY

BENEFITS MEMBERS

+6 +3 +8

GEAR STRATEGIC RESOURCES & CAPABILITIES OF REI

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

myREI

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

SUMMIT OUR RECOMMENDATIONS

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

DRIVE MEMBERSHIP GROWTH

ELEVATE VALUE OF REI CO-OP

CONNECT PEOPLE TO THE OUTDOORS

Members-Only Benefits: Coupons | Dividend Management | Personal Shopper

Increased Member Engagement | Targeted Marketing & Consumer Research | Post-Purchase Follow Up

Community Activities | Group Challenges | Social Sharing

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

KEY FUNCTIONALITIES

Personalized Membership Profile Monitor Activity Levels Membership Community & Social Feed Quick Access to Coupons, Dividend Payments, & Personal Shopper

SUMMIT OUR RECOMMENDATIONS

LEVERAGE SOCIAL MEDIA

IMPLEMENT IN-STORE

PROMOTION

SUMMIT OUR RECOMMENDATIONS

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

SUMMIT OUR RECOMMENDATIONS

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

SUMMIT OUR RECOMMENDATIONS

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

SUMMIT OUR RECOMMENDATIONS

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TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

RISK & MITIGATION

SWITCHBACKS RISKS & MITIGATION

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ONLINE RETAILERS

SPECIALTY LOCAL SHOPS

BRICK & MORTAR RETAILERS

SWITCHBACKS RISKS & MITIGATION

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RISK MITIGATION

E-Commerce Competitors

Rapid Expansion of Brick & Mortar Retailers

High Social Media Engagement of Competitors

Unknown Demand for Community App Among Members

myREI Makes Mobile & In-Store Shopping Easier & More Dependable

myREI Can Help Determine Strategic Locations for Expansion

App Feature & #myREI Campaign Will Elevate Social Media Presence

Previous Success with MeetUp.com for #OptOutside

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

IMPLEMENTATION

  Finance New Projects

  Design with Adventure Projects

  Design Website Changes

  Develop myREI App

  Implement Website Changes

  Launch Marketing Campaign

  Evaluate Customer Response

  Improve App Based on Feedback

  Launch App Abroad

JUN|JUL|AUG|SEP|OCT|NOV|DEC|JAN|FEB|MAR|APR|MAY

ROADMAP IMPLEMENTATION

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ROADMAP IMPLEMENTATION

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6 MILLION ACTIVE MEMBERS

300,000 ADOPT

THE APP

YEAR 1 FINANCIAL ASSUMPTIONS

15,000

NEW MEMBERS FROM APP

$50 INCREASED SPENDING BY 10% OF APP USERS

$355 CURRENT REVENUE PER ACTIVE MEMBER

$266 EXPECTED REVENUE PER NEW MEMBER

ROADMAP IMPLEMENTATION

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

-$5,000,000

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

yr.0 yr.1 yr.2 yr.3 yr.4 yr.5

NET PROFIT $1 MILLION

INITIAL INVESTMENT - DEVELOPMENT

COSTS

  Marketing   Servers   Maintenance

REVENUES

  From Active Members   From New

Members   Membership Fee

ROADMAP IMPLEMENTATION

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

$0

$10,000,000

$20,000,000

$30,000,000

$40,000,000

$50,000,000

$60,000,000

$70,000,000

$80,000,000

$90,000,000

1% 2% 3% 4% 5% 6% 7% 8% 9% 10%

NEW MEMBER ACQUISITION SENSITIVITY

NPV

ROADMAP IMPLEMENTATION

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$0

$10,000,000

$20,000,000

$30,000,000

$40,000,000

$50,000,000

$60,000,000

$70,000,000

25% 50% 75% 100%

NEW MEMBER SPENDING (% OF CURRENT SPENDING)

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

myREI

INTEGRATE ONLINE + IN-STORE

FOSTER MEMBERSHIP COMMUNITY

SIMPLIFY CUSTOMER

EXPERIENCE

CONNECT PEOPLE TO

THE OUTDOORS

ELEVATE VALUE OF REI CO-OP

DRIVE MEMBERSHIP

GROWTH

APPENDIX

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FINANCE PROJECTIONS

ALTERNATIVES MATRIX

SWOT ANALYSIS

MARKET EXP. GRID

VRIO FRAMEWORK

ROOT CAUSE ANALYSIS

FITNESS APP GROWTH

FOREIGN EXPANSION

ONLINE SHOPPING

2ND APP ADOPTION

myREI MOCK-UPS TRAILHEAD

ENVIRONMENT

GEAR

SUMMIT

SWITCHBACKS

ROAD MAP

CRITERIA EVALUATION

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

Convert To Sales Easy Access to Dividends Coupon Use Statistics Members-Only Personal Shopping

SUMMIT OUR RECOMMENDATIONS

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

In-App Messaging for Member Interaction Friends can see where are people are doing activity outdoors, encouraging them to tag along

SUMMIT OUR RECOMMENDATIONS

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

HiAlex,Letusknowhowyoulikeyournewboots!

ReviewNow

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

FINANCIAL PROJECTIONS

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

FINANCIAL PROJECTIONS

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

BRAND EQUITY

GEAR STRATEGIC RESOURCES & CAPABILITIES OF REI

  Likelihood That Initiative Will Improve / Compromise Customers’ Trust In:   Quality Of Products   Fulfillment Of Co-op Mission

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

PROMOTES CO-OP

GEAR STRATEGIC RESOURCES & CAPABILITIES OF REI

  Raises Awareness About REI’s Co-op Structure   Highlights Key Benefits of Co-Op Membership   Improves Accessibility To Membership

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

ATTRACTS MILLENNIALS

& WOMEN

GEAR STRATEGIC RESOURCES & CAPABILITIES OF REI

  Integrates Technology In Customer Experience   Capitalizes On Mobile Shopping Trends   Capitalizes On Growth In Mobile App Use   Makes The Outdoors More Accessible To These Demographics

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

PROFITABILITY

GEAR STRATEGIC RESOURCES & CAPABILITIES OF REI

  Short-Term Profitability   Initial Investment   Revenues Generated In First 2 Years

  Long-Term Profitability   Membership Growth   Return On Investment

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

RISK / FEASIBILITY

GEAR STRATEGIC RESOURCES & CAPABILITIES OF REI

  Long-Term Relevance To Customers   Aggressive Competitor Response   Related Vs. Unrelated Diversification

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

BENEFITS MEMBERS

GEAR STRATEGIC RESOURCES & CAPABILITIES OF REI

  Creates Value For Existing Members   Increases Benefits To Attract New Members   Improves Member Engagement

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

FULL ALTERNATIVES MATRIX

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Criteria Importance MemberCommunity

WearableTechnology

Fashionvs.Func;on

B2B–CorporateAdventures SpecialtyShops

BrandEquity HIGH +2 +1 -1 +2 0

PromotesCo-Op&Mission HIGH +2 +2 0 +1 +1

AUractsMillennials HIGH +2 +2 +2 +1 +1

AUractsWomen MEDIUM +1 +2 +2 0 0

AUractsDiversePopulaXons LOW 0 0 0 0 0

ProfitabilityST MEDIUM -1 -1 +2 +1 -2

ProfitabilityLT HIGH +1 0 +1 +2 +2

Risk/Feasibility MEDIUM +1 -1 -1 -1 -2

CompeXtorResponse HIGH -1 -1 0 -1 0

BenefitsMembers HIGH +2 +1 +1 0 +1

EnvironmentalImpact HIGH +1 -0 0 0 -1

TOTAL 10 5 6 5 0

BENEFITS MEMBERS

COMPLETE SWOT ANALYSIS

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

THREATS •  Amazonandotherlowprice

compeXtors•  ITchallenges-integraXon•  Shi]toonlinepurchases/people

whogotothestorebutfindthedealonline

•  Showroomeffect

•  Corporatemindsethasregionalappeal

•  SocialmediamenXons•  Changingdemographics•  OmnichannelcompeXtors•  LowfitnesslevelsinUS•  EnvironmentaldegradaXon

OPPORTUNITIES •  Moresocialmediapresence•  BeUeradverXseandpromoteCSR

pracXces•  SporXnggoodsgrowthpotenXal•  BeUerreachingofnon-members•  Socialresponsibilityand

consciousnessmovement•  Loyaltyprograms•  Youth/corporatesponsorships

•  ConnecXonbetweenonline&brickandmortar

•  Technology/Omnichannel•  Increaseproductreviews•  Elevatebrand•  Globalexpansion•  Morepersonalizedcustomer

experienceusingtechnology•  Capturefemaleshare

STRENGTHS •  6millionmembers•  Extremeloyalty•  Highmarketshareinoutdoor

equipment•  Co-opstructure•  →dividendsalesincenXves•  →ownershipstructuredifficultto

buyout;independence

•  Brandequity•  Moderateonlinepresence•  Economiesofscope•  In-storeexperience•  EmphasisonsustainablepracXce•  Growingindustry•  NewmemberacquisiXonsrising•  Employeebenefits

WEAKNESSES •  Co-opmakesithardtoraise

capital•  Employeeperformancemetrics

(unclearexpectaXonsandsuccessmetrics)

•  Generousreturnpolicycreatesfinancialloss

•  REIprivate-labelbranding

•  Globalexpansioneffortshavefailed

•  RelaXvelymatureoutdoorindustry

•  UnderuXlizaXonoffemalemarketshare

BENEFITS MEMBERS

MARKET EXPANSION GRID

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

•  Extend“optoutside”markeXngcampaign;brandproducts/bagswithit

•  EnhancedadverXsingonco-opstructure-makeitrelevanttoyoungerconsumer

•  Outdoorschoolexperiencesforcorporate/othergroups:partneringwithcompaniesinsteadofjustaskingforsignups.Chargehighfees

•  Morefashionableproducts(clothes,highpopularitygearbrands,etc.)

•  Wearabletechnology(i.e.fitbit),trackingofoutdooracXvity

•  MembershipCommunityApp•  Expandprivatelabeltoallproductsegments

•  SpecialtyShops;targeXngthelocalspecialtystoresbytakingoneREIsportorlineandcreaXngabrickandmortarstoreforthatline.

•  ExpandintosporXnggoodsmarkets(fishing,hunXng,etc.)

Existing Products New Products

Exi

stin

g

Mar

ket

s N

ew

Mar

ket

s

Is th

e m

yRE

I ap

p:

VRIO FRAMEWORK

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

• Tothemember?Yes,makesshoppingatREIandvisualizingyouroutdooracXvityeasier

• TotoCo-Op?Yes;promotesfurtherengagementwiththebusinessandthereforesalesandoutdooracXvity

VALUABLE?

• Yes;differentelementsoftheappexistalready(inseparateoutdoorappsordifferentcompanies)butthemembershipmanagementandcommunityaspectsoftheappdon’texisttogetherinasimultaneousexperience.REIfillsthatgap

RARE?

• No;TheadvantageoftheappincorporatestheREImemberbasewhichisuniquetoREIandinherentintheirCo-Opstructure

• No;theappenhancesthein-storeexperience,whichisextremelydifficultforothercompaniestore-create.

EASY TO IMITATE?

• Yes-REIalreadysupportsoneapp.Thiswillbeintegratedwiththecurrentshoppingappandmemberswillbeabletousethemtogether.

ORGANIZED TO CAPTURE

VALUE? Is th

e fi

rm:

ROOT CAUSE ANALYSIS

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

LowAIrac;venesstoMillennials

PriceSensi;vity

REIfocusesonfuncXon&qualityoverlowprices

Highpricecommunicateshighquality

REIcarriesalmostexclusively

premiumbrandsHighpricedmaterialsmakelowerpricesdifficult

Urban>Suburban/ruralliving

Youngadults“seUlingdown”laterthanearliergeneraXons

VolaXlejobmarket

Millennialsgoing

outsideless

ViewasagroupacXvity

SpendmoreXmewithtechnology

UndereducatedonoutdoorrecreaXon

products&skills

LackofXme

VolaXlejob

market

Demandingschoolschedules,elevatedratesofhighereducaXon

FITNESS APP GROWTH

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

WOMEN ARE

18% MORE LIKELY THAN MEN

TO SPEND TIME OUTDOORS WITH FAMILY AND FRIENDS

BRAND EQUITY

FOREIGN EXPANSION

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

  Japanese chatting app was banned by Chinese government in 2015   Line now sells cupcakes, coffee mugs, tote

bags and gained huge popularity

ONLINE SHOPPING TREND

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

ADOPTION OF SECONDARY APP

TRAILHEAD | ENVIRONMENT | GEAR | SUMMIT | SWITCHBACKS | ROAD MAP | Q&A

Techcrunch.com reports that Facebook Messenger has been downloaded over 1 billion times from the Google Play store. Our two apps will have similar connectivity that the main Facebook app and Facebook Messenger app have, so we anticipate a similarly positive response to having two separate, faster functioning apps http://techcrunch.com/2015/06/09/the-new-facebook/