Waterstones Brand Reposition Report

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Curious about your future?


Authors have created lasting legacies for centuries by sharing stories, experiences, opinions and skills. Should this not be an everyday part of anyones life?


W

e cannot be certain about what the future holds, but the retail and bookselling industries will undoubtedly continue to change. We looked deeply into your brand and the future world it will act in, and asked ourselves - what could Waterstones be 20 years from now? In order to suggest a strong future path, we took a step back. What do traditional books do? What happens once we’ve read a book? We wondered if and how Waterstones can retain the ability to give people something they will love, value and pass on. Waterstones has always given authors the opportunity to make a mark and share their views, and it has successfully enabled people to discover these for many years. However, this may no longer be enough to ensure a positive future. Increased urbanisation, a shift in consumer values and the digitisation of everything will impact traditional forms of interaction and communication. Furthermore, with high-street stores increasingly becoming showrooms and places that offer experiences, Waterstones can no longer rely on the appeal of their products alone in order to stay strong and resilient. It will have to provide something more meaningful, which will attract both the customers it currently engages, and those who don’t care much for reading or books at all. Could we emphasize the truly indispensable aspects of books to ensure that they, and Waterstones, remain valuable and relevant to us? Books have been, and should always be, part of our individual and collective legacies. In both physical and non-physical form they, and the things you learn and experience with them, are something you should pass on. However, books are just one way in which you can leave a mark, and may not be an option for everyone. But everyone will, and usually wants to leave a legacy. And doesn’t almost everyone have a Waterstones within reach? Could there be ways to link these? Could your brand enable the sharing of legacies beyond books? Absolutely. We believe Waterstones can encourage anyone to share their small, “everyday legacies”. If we see every interaction, no matter how ordinary, as an opportunity to make an impact, then the possibilities are endless. Our idea is to create tangible, physical ways in which to inspire these interactions, and to ensure that their outcome can become part of our legacy.


THINGS ARE CHANGING

PRIVATE / SHAR ED What will a home be?

Mine, yours, ours?

minimalism and decluttering as the norm

blurred lines between owning and sharing

New shared and compact models of living in urban contexts and a sense of nomadic freedom will redefine how we use and value space. City life can be lonely. When friends and family are elsewhere, and neighbours are strangers, we will crave human connection in different ways.

In a world where ownership is rare sharing goods and services will be part of everyday life. We may unlearn how to enjoy being alone, or find ourselves longing for privacy and ways to truly express our individuality.

Books are physical and often sentimental objects- how can they fit into mobile lifestyles whilst retaining the experience, homeliness and memories they enable? • • • •

More people than ever are living outside their home countries [1] People living in urban areas will increase to 66% by 2050 [2] The freelance economy will enable mutliple, flexible careers [3] Half of 18- to 24-year-olds describe their home as a ‘large bedsit’ [4]

Reading is a time when you can indulge in privacy and choose your own endless world of stories. Could Waterstones encourage non-authors to share their highly individual experiences and thoughts? •

The sharing economy is a vital part of the ‘new consumerism’ trend and personalisation will be a key selling point [5] Our possessions and lives will be public through shared use/data, increased access to the internet, and social media - therefore ownership and privacy will be luxury goods [6]


MAKE THE MO ST OF IT...

DIG ITAL / PHYSIC A L Tactile objects, invisible function?

How will legacies look?

when screens become a nuisance

between online lives and emotional objects

The amount of digital and visual information around us will increase exponentially. We will need ways to engage our other senses and will long for human touch and real emotions

Our legacies will automatically accumulate online through the digital transactions we make. However, the underlying thoughts, lessons learned and reflections from these moments will not be captured. The same can be said for books and other physical objects.

Waterstones has been successful and remained resilient in the business of tactility, and a future desire to escape the digital is an opportunity to exploit this. What if the sense of physicality and focus associated with reading could help us connect more meaningfully? •

• •

Information overload from more devices and wearables, multi-tasking and a constant pursuit of productivity will affect physical, mental and social health Attention spans and the ability to focus will continue to decrease [7] We are losing skills needed to make real, human connections [8]

What if Waterstones as a trusted, and accessible brand could help encourage people to create lasting legacies by sharing and ‘leaving’ them with others? • • •

Collecting and curating digital lives for loved ones is becoming a widespread online service [9] Licences and security can be threats to digital legacies [10] Leaving donations that reflect values rather than leaving physical objects is becoming popular [11]


E XPLOIT AD VANTAGES

W

aterstones is the local, friendly bookstore that is tailored to the individuals that make up its community. It is unique in its combination of accessibility, affordable quality and offerings around the wider reading experience.

whsmith

amazon

daunt

foyles

waterstones

budget utility nondescript

convenient expansive anonymous

classic curated pretentious

modern spacious unconventional

approachable cosy cluttered

focused experiential fresh

collective attainable encouraging

compact quick integrated

uniform stores

present future

physical tailored instant

luxurious sentimental unconventional

The biggest threat has always been the greater convenience and lower cost of online services and digital devices. The brand must adapt in order to defend and justify both the printed book and the brick and mortar stores. Future high streets will consist mostly of showrooms, fiercely competing for customer attention, so the products sold and the experience around them will need to stand out...


D ON’ T FALL BEHIND

T

he retail industry is currently undergoing radical changes. Even though stores are unlikely to die, they are declining due to the popularity of e-commerce [12]. Expectations of the in-store experience are higher than ever and in order to survive traditional retail needs to ramp up its capabilities. [13] People are focusing more on acquiring lasting memories rather than physical things, and these memories are meant to be shared with others- almost 70% believe, that attending live experiences helps them connect better with their friends, community and people around the world. [14]

78%

Millennials prefer spending money on experiences rather than things

[14]

With the number of sources influencing customer’s purchases, there is no small scale consideration anymore. [15] Shoppers are redefining what great service means, looking for an emotional connection with the product they’re paying for. They search for products which can reflect who they are as a person and which they can tell others about. For Waterstones this means that customers should not only visit to purchase a book, but be drawn in by the opportunity to have memorable experiences which are worth sharing with others. Introducing an aspect of co-creation should also be part of the new strategy, as the increasing interest and access to user-generated content is already changing the approach of many publishers and booksellers. [16] In all this we see not only an opportunity, but also a necessity for Waterstones to evolve.


E V OLVE YO UR VALUES

browse & buy relax & chat reconnect show & tell

experiences involved comfy interactions

welcoming witty friendly storiesconnected widespreadcafesharing dedicated offers events profitable

browse humble

aware fiction kids

legacyworn cluttered connection clubs

community cosy local

cultural warm everyday tactile expert physical wonder break inspiration bookslocal social trust relax indulge gifts stationary choice emotionalaccessible calm habit

messy

chintz

discover

resilient

Waterstones key values, features and offerings will need to adapt in order to stand out and stay relevant. We analysed the brand by researching how it presents itself on and offline, visiting various store typologies, and investigating social media feeds and recent headlines. We identified some aspects we feel should remain and be emphasized, some that should be added in order to tailor the ethos to the future, and some that may not be relevant 20 years from now.


E X TEND YO UR RE ACH

every interaction is a chance to leave a legacy Waterstones, with its sensitivity to different environments can be more involved in them to help create everyday legacies.

friends family personal neighbours strangers

In between: People often go to the store to wander around and browse alone. Waterstones could be there to provide these moments of personal ‘me-time’ both in and out of the store, but also facilitate the next steps of reflecting and sharing. In the store: This is where people will be encouraged to bond over commonalities. Strangers can be encouraged to discuss common interests and neighbours can connect through the local section, which the store already has, and which, in the future, will still be one of the brands strong points.

Outside the store: Waterstones is already part of many intimate moments such as childrens bed time stories and thoughtful gifts between friends. It can integrate seamlessly and add value to interactions between family and friends.


O UR PR OP O S AL TO YO U

W

ith key future trends, competitors, the market and Waterstones strengths in mind, we would like to suggest a range of new experiences that can help the resilience and strengthen the social value of the business 20 years from now. The range will aim to create small legacy moments from everyday encounters, and will be tailored to different situations both in and out of the store.

There are various common features which will ensure it fits the brand and spirit of Waterstones.

The in store atmosphere is warm and welcoming,

with a natural, wholesome interior feel. Time spent at Waterstones is all about tangible interactions with books and other items. We want to use these elements throughout our product experiences, with emphasis on intuitive use, tactility and low/invisible tech.

Books mature with time,

and become personal and sentimental to the reader. Our solutions will embrace the wear and tear of use, utilising materials that patina over time in order to emphasize it as an intentional feature.

Stores are organized in specific ways,

with genre specific areas, particular zones for gifts and accessories and dedicated break out spaces. However, we predict that this will change and areas will be differentiated according to the kinds of experiences they provide. Our ideas will integrate into these new in-store areas and therefore be seen and used in the intended moment and by the intended customers.


why? When we have less space, things, time and information to ourselves, where does that leave those precious moments we spend alone, often with a book in our hands? The times when we wander, discover, learn and reect? Could we keep these moments private but still make them part of the everyday legacies we create and pass on?

how? A bookmark is a visible, physical indication of the discoveries we are making. When we stop using it, it means that we have absorbed the content and have gained something from it. These aspects could be translated into a new kind of product experience.

what legacy? It’s all about personal perspective- opinions, thoughts and ideas are brought to the surface so that others may stumble upon them.

where? This legacy can be made wherever someone is alone - both in store at Waterstones and in the wider environment.


why? With more and more of us living away from home, the love, nurture, and protection we get from our families will increasingly by delivered by digital means. Traditionally, the most inuential and physical legacies are passed on within families and across generations. How can the essence of this be preserved ?

how? Warmth, comfort, emotion are all keystones of a family. A product experience will help translate these into something more physical and tangible during digital interactions with family members.

what legacy? A certain memory or feeling can elicit a poweful connection to family, and so emotional aspects are the primary focus.

where? Waterstones’ books are re already part of intimate family moments at home. A new product experience that lives with family members is a natural progression to this.


why? Connecting with friends happens mostly in the digital realm already and this trend is bound to continue. Real encounters are becoming rarer, but rather than focusing on each other when they do happen, screens and interfaces divert our attention away from these moments where legacies could be created. What can be done about this?

how? Emotional connections nections (that often happen through things like eye contact and physical touch) are crucial components of healthy and memorable interactions. The aim is to help friends engage in activities together which can encourage these.

what legacy? Advice is what friends aree for, and there a few better ways in which we can make an impact than by helping out and inspiring someone close to you.

where? Friends can meet et and connect anywhere so Waterstones should be there- wherever they may be.


why? More frequent changes of jobs and homes will mean even less chances to get to know our neighbourhood. We will find ourselves craving the feeling of belonging, but becoming a part of the local, social fabric can be difficult. How could we better integrate into our environment, especially when many aspects of our future lives will be shared?

how? Creating a scenario that initially helps locals to connect, and then allows them to continuously contribute to their neighbourhood will ensure that they can leave a legacy before moving on to their next destination.

what legacy? It is often the favour you receive, the tool you share, and the help you offer that makes the biggest mark on others.

where? The local section within Waterstones is the perfect spot to explore and enrich your neighbourhood. And even when you do move on, the next store probably won’t be far.


why? As more peoplee live in bigger cities anonymity and detachment from others will be the norm. Wouldn’t it help if, in those brief moments when life stops, people connected to each other rather than to their devices? They are opportunities to leave a small legacy with someone, so should they really go by unnoticed as we are glued to our screens?

how? Discovering a common interest or habit can break down initial barriers and spark conversation. However, people often feel safer in their anonymity so using an external impulse to reveal a link between strangers is the focus of this idea.

what legacy? We all carry around specks of knowledge and small anecdotes that we could share and touch people’s minds and hearts with.

where? Being at a Waterstones automatically provides a common context. There can be further initiators for interactions whilst browsing, relaxing and waiting.


A

ll these concepts connect different people in different contexts. They celebrate the moments you cherish alone and the ones you experience together, but always result in a small, everyday legacy. Waterstones understands what individuals want and how to create communities. We believe that it can make sharing a natural and meaningful part of anyone’s life. “Look for a mans legacy, in anothers heart” Rumi


S O UR CES OF O UR INSPIR ATION [1] United Nations, International Migration Policies Government Views and Priorities [Online] New York: 2013. [Accessed on 29 September 2016] Available from: http://www.un.org/en/development/desa/population/ publications/pdf/policy/InternationalMigrationPolicies2013/Report%20PDFs/z_International%20 Migration%20Policies%20Full%20Report.pdf [2] United Nations. World’s population increasingly urban with more than half living in urban areas. [Online] 2014. [Accessed on 29 September 2016]. Available from: http://www.un.org/en/development/desa/news/ population/world-urbanization-prospects-2014.html [3] sparks & honey. Gen Z 2025: The Final Generation. [Online]. 2015. [Accessed 8 October 2016]. Available from: http:// www.slideshare.net/sparksandhoney/gen-z-2025-the-final-generation-preview/19-The_new_ way_of_working [4] Kemp, N. Made.com makes space for ‘Generation Squeeze’ in new era of urban living. [Online] 2016. [Accesed on 29 September 2016]. Available from: http://www.campaignlive.co.uk/article/madecom-makesspace-generation-squeeze-new-era-urban-living/1409391 Priorities [5] Passport Euromonitor International. The New Consumerism: Redefining Ownership Values and Priorities. [Online] 2016. [Accesed 18 October 2016]. Available from: http://blog.euromonitor.com/2016/04/the-newconsumerism-redefining-ownership-values-and-priorities.html [6] Rainie, L., Anderson J. The Future of Privacy. [Online]. Pew Research Center: 2014. [Accessed 18 October 2016]. Available from: http://www.pewinternet.org/2014/12/18/future-of-privacy/ [7] Egan, T. The Eight-Second Attention Span. [Online]. 2016. [Accessed 18 October 2016]. Available from: http://www.nytimes.com/2016/01/22/opinion/the-eight-second-attention-span.html [8] Shellenbarger, S. Just Look Me in the Eye Already. [Online] 2013. [Accessed 18 October 2016]. Available from: http://www.wsj.com/articles/SB10001424127887324809804578511290822228174 [9] Fowler, G. Online Memorial Services: After a Death, Celebrating a Life Online. [Online] 2014. [Accessed 8 November 2016]. Available from: http://www.wsj.com/articles/SB1000142405270230355320457934875226 2042642 [10] Rumsey, S. A. When We Are No More: How Digital Memory Is Shaping Our Future. Bloomsbury Press: 2016. [11] Cleaver, J. How Boomers Are Redefining ‘Legacy’. [Online]. 2015. [Accessed 8 November 2016]. Available from: http://money.usnews.com/money/personal-finance/mutual-funds/articles/2015/06/18/how-boomersare-redefining-legacy [12] Lisa, K. In-store retail experience evolves with the demands of tech-savvy shoppers. [Online]. 2014. [Accessed 7 Dec. 2016]. Available from: http://www.computerweekly.com/feature/In-store-retail-experienceevolves-with-the-demands-of-tech-savvy-shoppers [13] Sheldon, J. Transforming the retail experience. [Online]. 2016. [Accessed 8 Dec. 2016]. Available from: http://www.futuresmag.com/2016/07/17/transforming-retail-experience [14] Morgan B. NOwnership, No Problem: Why Millennials Value Experiences Over Owning Things [Online]. 2015. [Accessed 8 Dec. 2016]. Available from: http://www.forbes.com/sites/blakemorgan/2015/06/01/ nownershipnoproblem-nowners-millennials-value-experiences-over-ownership/#1acc81421759 [15] Rogers, D, The Science of Shopping and Future of Retail. [Online]. 2013. [Accessed 8 Dec. 2016] Available from: https://www.youtube.com/watch?v=qVJAr5eGOKA&spfreload=10 [16] Tagholm R. Exploring “Smart Bookstores” and Libraries of the Future. [Online]. 2015. [Accessed 8 Dec. 2016] Available from: http://publishingperspectives.com/2015/04/exploring-smart-bookstores-and-librariesof-the-future/#.WEwq1qKLSK5


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