Dick's Sporting Goods

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A NEW STRATEGIC INITIATIVE

THE WEATHER ROOM PROJECT

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TABLE OF CONTENTS

>4 >6 > 16 > 28 > 30 > 32 > 38 > 41 > 42 > 46

Executive Summary Company Summary The New Strategic Initiative Market Analysi s Target Con sumer Communication & Promotional Plan Financial Plan Conclusion Appendix Bibliography

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Executive Summary

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Dick’s Sporting Goods wants to drive omni-channel growth by maximizing its potential through driving store traffic and productivity, as well as, further push effective merchandising techniques of bringing brands to life. Dick’s stores are approximately 50,000 square feet in size, which allows Dick’s to offer a wide and deep assortment of brands and products. Dick’s large array of products is what differentiates Dick’s from its competition. However, we want to make sure that the large assortment is not a hindrance, but that it provides customers with an easy and educational shopping experience. E-commerce has been so successful because customers can easily navigate through products by category, compare products based on their needs, and all the product information is easily accessible. That ease of an e-commerce shopping experience is what we want to offer in-store with the implementation of the Weather Room technology. The Weather Room focuses on outdoor equipment since it is a highly fragmented market. Dick’s heritage is firmly embedded in the outdoor category and they want to become a dominant player in the specialty outdoor market. The Weather Room technology works to educate consumers on what products they need for current activities and where they are located in-store. The creation of the Weather Room technology offers several advantages including accelerating performance within merchandise categories that aren’t highly penetrated like outdoors gear, faster turnover of product, elevated customer service, and customer retention. The Weather Room requires a meaningful investment, which can be considered a disadvantage, but it will yield significant long-term value by increasing Dick’s profitability and providing multiple strategic benefits. Which includes helping customers better navigate through a large assortment of products in-store, making visible products that customers may have overlooked or didn’t know Dick’s carried, and most importantly, educating customers on what products fit their needs the best. We want to make Dicks Sporting Goods the outdoor destination for whatever adventures our customer is about to partake in.

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COMPANY SUMMARY

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Hi story Dick Stack started his career working in an Army surplus store when he was 18 years old. His boss at the time asked him to compile a list of items needed to start a fishing section in the store; after compiling the list, Dick’s boss told him he was an idiot. Dick angered by this comment quit immediately. After telling his grandmother the story, she asked him how much it would cost to open his own store. Three hundred dollars he said and she went to the cookie jar and pulled out three hundred dollars. In 1948 with the help of his grandmother, Dick opened his first store in

Mi ssion Statement

Binghamton, New York. In 1958 he expanded the store into something similar to the current store operating

Our mission is to be recognized by our customers as

today from his small bait and tackle shop.

the #1 sports and fitness specialty Omni-channel retailer that serves and inspires athletes and outdoor enthusi-

Ed Stack is the current CEO, Chairman, and son of Dick.

asts to achieve their personal best through the relentless

Ed was responsible for taking two stores and turning

improvement of everything we do.

them into over 500 stores today.

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Current Revenue At the end of 2014, Dick’s had a revenue of $6.8 billion. That is an 11 % increase over 2013.

Current Ownership Structure Dick’s Sporting Goods is a publicly traded company on the New York Stock Exchange. Dick’s Sporting Goods is driven by both wide assortment and price. They want to be a store that everyone can shop at.

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Future Growth Plan s Future Growth Plans End of the 2017 goals:

• A sales target of $10 billion, over 800 Dick’s Sporting Goods stores

• E-commerce sales of approximately $ 1.1 billion

• Omni-channel growth, raise the number of Field and Stream stores to 55 and a sales target of $750 million

• Invest about $1.8 billion in new stores, store remodels, and e-commerce to drive business

Swot Analysi s

Strong Branding

ScoreCard

Quality Products and Brands

Higher Price Points

Knowledgeable Staff

Large Corporation

Easily Accessible

“Less Personal” Service

S

Diverse Product Selection

Strengths

W

Dicks’ Sporting Goods does very well with brand recognition, being easily accessible, and selling a variety of quality brands and goods.

Weaknesses One of Dick’s strengths was there

O

T

Improve ScoreCard Method

Smaller, Family Owned Stores

Personal Customer Service

Similar Products at Better Prices

Increase Productivity

Elsewhere

Hire More Staff

Not Enough Promotions on ScoreCard

expansion of product ranges and assortment, but this is also a weakness because it creates these large clustered stores that are hard to navigate and find product in.

Opportunities Overall the ScoreCard is both good and bad for Dick’s. It is great that they have a rewards program in place but it could use some improvement to better serve customers.

Threats The two main threats are smaller specialty stores and retailers at cheaper price points. Smaller retailers educate customers, while Dick’s is too small staffed to do so. 9


Current positioning in the market The perceptual map of outdoor products competitors against ourselves is based on price and accessibility. Dicks Sporting Goods dominated when it came to accessibility with 619 stores, Sports Authority and Big 5 Sporting Goods followed behind with about 450 stores. Academy Sports and Outdoors comes in fourth with about 200 stores. The other five competitors had less than 100 stores including Amazon.com that is only e-commerce based but still a huge contender. The second comparative analysis focused on price, which was based on the average price on similar items carried at each retailer. The items consist of kayaks, tents, jackets and other items typically sold at a sporting goods retailer. A detailed list of products is in the appendix. When it came to price Dicks Sporting Goods was fourth with the lowest average price of $150 their biggest competitor Sports Authority followed close behind. The cheapest competitors were Big 5 Sporting Goods and Academy Sports and Outdoor with an average of $115. These retailers were cheaper because of the smaller assortment and smaller brand names. The gap between Dick’s Sporting Goods and its competitors is due to its large accessibility, which reflects why they have such a large share in the sporting goods market. Dick’s Sporting Goods is currently a leader in the sporting goods market by being the only retailer that is omnichannel integrated. Many of Dick’s competitors have applications but in the technology spectrum lack behind other retailers that have implemented in-store technology. Our strategic initiative goal is to make Dick’s Sporting Goods the only destination for sporting goods and a leader in that industry.

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Perceptual map

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Current positioning in the market

Dick’s omni-channel distribution platform includes retail stores and e-commerce. The main performance of e-commerce sites give customers instant access to merchandise, information, and services conveniently on their mobile device whenever they please. Customers have the ability to browse product assortment, make purchases, locate stores, and take advantage of ScoreCard reward benefits through Dick’s app.

E-Commerce

All 619 Dick’s stores enable customers to

Retail Stores

ship from store-to-store and to buy online and pick up in store. Approximately 80%

9%

of orders are online and is shipped to customers within the trade area of Dick’s store. In the 2014 Fiscal year e-commerce 91%

sales penetration was 9.2% of total sales, and total sales were $6,814.5 million.

Dick’s Sale Penetration in Fiscal 2014 Dick’s Sales Penetration Total Sales: $6,814.5 million

in Fiscal 2014

Dick’s purchased merchandise from approximately 1,500 vendors. Nike and Under Armour are the two largest vendors during fiscal 2015 year. Dick’s doesn’t have long-term purchase contracts with any vendors, and all purchases from vendors are made on a short-term order basis.

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Dick’s distribution centers put the “goods” in Dick’s Sporting Goods, and creates an incredibly effective operation. Dick’s owns four distribution centers, which include Smithton, Pennsylvania, Plainfield, Indiana, Atlanta, Georgia, and Goodyear, Arizona. Vendors directly ship floor ready merchandise to distribution centers, and it is processed and allocated directly to stores or to temporary storage at distribution centers. Dick’s distribution centers are responsible for consolidating damaged or defective merchandise from stores that is returned to vendors. Dick’s has entered into licensing agreements for names that they do not own, which provide for exclusive rights to uses names such as “adidas” (baseball only), “Slazenger” (golf and racquets), “Louisville Slugger” (hosiery only), “Reebok” (performance apparel) and “Umbro” (performance soccer equipment, footwear and apparel).

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Current Communication and promotional activities

Annual Spending Figures In 2014 Dick’s Sporting Good’s advertising expense was 248.7 million. Dick’s Sporting Goods advertises through E-commerce and aggressively promotes dickssportinggoods.com, to get more people to go online and promoting the option to buy online and pick up in-store or ship from store to store from customers get their products quicker. There are weekly ads, hunt ad, and basketball catalog available, and this varies on the different locations. Dick’s Sporting Goods is also on social media such as Facebook Twitter, Pinterest, and YouTube.

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Current Advertising Activities Dick’s Sporting Goods also does mobile commerce, and they have their own phone app. This app has been changed to be more user friendly while being able to access promos, coupons, and view their Scorecard. Their app also geo-fences and sends out offers and weekly ads to people in a specific geographic area. This is to get customers aware of current offers and to get more foot traffic into brick and mortar stores. Discounted shipping offers or occasional free shipping without a minimum purchase, or free shipping on select items, garner customer attention. There are limited time specials such as spend 50 dollars and get 10 dollars off. Customers also get incentive for signing up for emails by getting 10% your first purchase after entering your email. Current CRM activities Dick’s Sporting Goods currently has a loyalty program called Scorecard. The Scorecard is a credit card that can be used to earn points for every dollar that is spent and redeem them. For every 300 points earned is equivalent to 10 dollars. Customers can earn points by shopping at Dick’s Sporting Goods, Golf Galaxy, and Field and Stream

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The New Strategic Initiative

Key Objectives & Rationale

Increasing foot traffic into Dick’s Sporting Good’s

brick and mortar stores to get more consumers to buy sports apparel. We plan on doing this by enhancing the in-store shopping experience by adding technology based interactive displays.

Consumer behavior shows that consumers mainly

go into stores for the experience, and our interactive technology will be a force to drive consumers into brick and mortar locations. Long-term benefits will include product growth, sales growth, brand recognition, and informing customers on what to buy.

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Technology

Intel Realsense Technology a platform for implementing gesture-based Human-Computer

Interaction techniques. It consists of series of consumer grade 3D cameras together with an easy to use machine perception library that simplifies supporting the cameras for third-party software developers.

Tempescope weather box is a small box that is programmed to display the current weather

or future weather of a specific geographic location. The small box can simulate all different kinds of weather from hour to hour. Using this technology we will create a much larger scale model that can simulate the weather for different sporting activities.

Granite Communications created Grid Granite which provides retailers with a flexible and

scalable bandwidth which is important to omni-channel retailers who are increasing the use of in-store technologies. Grid Granite is a reliable Internet connectivity that other retailers like Sephora and Simon Malls use.

Raj Maini, Intel’s Worldwide Director of Marketing for Visual Retailing, about the adiVerse Footwear Wall spoke about how it meets both brand and consumer goals. To quote Maini, “the wall brings the huge amount of information usually available on the Internet into the physical retail store, transforming each product into an access point into the brand’s universe that the customer can explore. This serves the consumer’s sense of value and time, and it helps the brand by allowing customers to browse all items, not just what’s physically in-store. It contributes to a seamless, easy buying experience (sometimes with discounts and incentives) that comfortably moves the customer along the purchasing path.” It seems to have worked; Mr Maini confirms that Adidas saw same-store sales increase 500% after installing the interactive wall.

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Implementation The Weather Room is based off the idea of being able to help consumers to navigate through products for different activities. It also educates consumers on what products would be the most appropriate for their activities and what equipment to buy as well. The consumer will be able to use and interact with the Weather Room is, there will be 4 weather rooms throughout the store that are put into designated areas. Areas for weather room:

• Hiking, climbing, fishing, and camping

• Water sports

• Winter sports

• Cycling

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Weather room VISUALIZATIOn

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Implementation IN DETAILS First, the customer enter personal data such as phone number, gender and age, and then they will pick their activity that he or she will go on. Customers will also have the option to pick a specific location if they are traveling somewhere for their activity. Afterwards the Weather Room will show all possible weather conditions while showing imagery of the activity such as hiking or cycling. After the weather demonstration on the interactive screen there will show the location information if there was location put in. This will give all of the current real time weather information for this place. The screen will also provide thermal body mapping formation based on how the consumer’s body would react with this weather and if they were wearing the same products in the Weather Room. Then there will be product recommendations that are appropriate and then customers can choose the option of having their product suggestion list link sent to the customer’s phone number via text message. The customer then has the option to view the link on their phone, which will direct them straight to the phone app if they already have it. And if the customer doesn’t already have the app available the customer will be sent directly to the app store to purchase the app and the link will connect to the customer’s Dick’s sporting good’s app. After the product suggestions are linked to their account and can later be viewed online as well. In the Weather Room there will be a mannequin that is wearing apparel of a specific brand such as North Face to demonstrate the durability and functionality of the brand the product and the clothing will be changed out every 2 weeks with another brand. Operational considerations of implementing our initiative would be first to contact Intel and Tempescope companies about putting their two technologies together to create the idea of a Weather Room. We will outline what goals we are trying to accomplish with it. They would have to work together to tie the technologies together and then would go over the technology, and how it would look. Then they will create a prototype and run tests to see if the screen is user friendly and meets the objectives we are looking for. We then will reach out to Granite Communications about a system that will make sure we have a strong bandwidth infrastructure for the technology. If the Tempescope is working, and if there are complications with the weather simulations such as drainage of the rain or connectivity we collaborate with the store operations team to make sure that it fits into the floor space and where it will be placed. We will then collaborate with the visual merchandising department to ensure that the product is merchandised to work along the Weather Rooms. Next educating associates about the technology how it works and the purpose of the display to be able to inform customers or help them find products and answer questions. 22


Operation Screen Design

STEP 2

STEP 1

STEP 4

STEP 3

WINTER SPORTS > MEN’S

Sort by

New Products

Burton Men's Clash 2014-2015 Snowboard $359.95

Burton Men's Breach Insulated Jacket $219.95

Burton Men's Ruler Snowboard Boots 2013- 2014

Burton Men's Freestyle Re:Flex Snowboard Bindings 2014-2015

$197.92

$129.95

STEP 5

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CHAMONXI - MONT BLANC, FRANCE today

mountain

daily

hourly

map

Summit 3275 m

Vertical Drop 2233 m

Base 1042 m

39 °F °C

Mostly Clear Feels Like 4° Barometer 1027.00 mb Humidity 64%

STEP 6

Wind 0 km/h Visibility 70 km Dew Point -2°

Beginner

14%

Intermediate

34%

Advanced

38%

Expert

14%

STEP 7

STEP 8

Intel, Tempescope, and Granite Communication will be outsourced teams to create the product. Technology teams will work with visual merchandising teams and store operations teams at Dick’s to make sure it’s located properly, because the store would have to be rearranged, and fixtures would have to be moved. They would have to alter the store layout to fit the display while still have a good foot traffic flow throughout the store.

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2. 5 yearS PLAN

RESEARCH AND DEVELOPMENT & MARKET RESEARCH (3 MONTHS) What merchandise categories are slow sellers? What merchandise in store doesn’t get the most foot traffic? Our team will research ways to get more customers to buy more of the slow moving merchandise. Find a way to implement the technology that meets our objective of being informative, interactive and user friendly.

TECHNOLOGY RESEARCH (6 months) Having the conversation of what technologies we’ll use. Once technology is found, changing the technologies to fit our needs. Like expanding the size of the Weather Room and making sure the two technologies work together seamlessly. Testing out the technology for any malfunctions and making sure our retail stores are able to handle its capabilities. Four P’s Working with store operations to make sure we have the right products in the right place at the best price points to work along this technology. Discussing how and where we will be launching the technology. Remodel of one store to see how the Weather Room fits. Discussion on what locations will get the Weather Rooms next and ways to get the word out about the technology used in Dick’s. Dick’s will also have to educate staff on the Weather Room in order to ensure customers to use the product to it fullest potential.

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2. 5 yearS PLAN in details

Timeline 1 Month

2 Month

3 Month

4 Month

5 Month

6 Month

7 Month

8 Month

17 Month

1.5 Year 18 Month

19 Month

20 Month

21 Month

22 Month

23 Month

Pre Launch Reseach Model Development Moving Platform Thermal Imaging

Initial Launch Logistics Instalation Launch

Flagship Launch Logistics Instalation Launch

16 Month

Pre Launch Reseach Model Development Moving Platform Thermal Imaging

Initial Launch Logistics Instalation Launch

Flagship Launch Logistics Instalation Launch

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1 Year 9 Month

10 Month

11 Month

12 Month

13 Month

14 Month

15 Month

Pre Launch Reseach Model Development Moving Platform Thermal Imaging

Initial Launch Logistics Instalation Launch

Flagship Launch Logistics Instalation Launch

2 Year 24 Month

25 Month

26 Month

Pre Launch Reseach Model Development Moving Platform Thermal Imaging

Initial Launch Logistics Instalation Launch

Flagship Launch Logistics Instalation Launch

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27 Month

28 Month

29 Month

2.5 Year 30 Month


MARKET ANALYSIS

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MARKET OVERVIEW The sporting goods market had a projected value of more than 64.8 billion in 2015. The figure takes in account consumer purchases of many different product types. Dick’s Sporting Good’s store sales in the US were 44.36 billion dollars in 2014. U.S. e-commerce sales of sporting goods were $7,844 million dollars. Athletic apparel wholesale sales in the U.S. were $32.78 billion.

$ in Billions 2014 Revenue in Billions

FUTURE COMPETITION Wal-Mart is the leading sporting goods footwear and apparel retailer in the U.S. with 9.3 billion dollars. Dick’s Sporting Goods comes in second with 6.5 billion dollars in revenue in 2014. Third is Target with $4.3 billion, Academy Sports + Outdoors was 4.1 billion, then Bass Pro Shop at 4 billion. Sports Authority has $3.4 billion in sales in and Cabela’s had $3.2 billion. In the sporting goods realm no one is using interactive product walls or linking virtual content with the physical experience. Customers like to feel as if they are making informed buying decisions, and interactive product walls are a way to engage them with targeted information and promotions that converts to more in-store sales. Retailers utilizing these new technologies are P&G with their 5D Experience and The Wall created by the Arts Fact Group. Dick’s Sporting Goods wants to utilize those technologies that feature multi-touch capabilities to deliver content according to a shopper’s gender, the current weather conditions, available inventory, and to highlight sales and specials. All of Dick’s Sporting Goods competition can take on this initiative. Sports Authority especially since they are such a close contender as far as locations and price points. However, once Dick’s implements this initiative, the company will be on to a new initiative to improve the Weather Room or on to creating something completely new and different to incise the consumer. In the long term, this technology will become better equipped to cater to the consumer’s needs like personalization and recommendation of products to consumers based on their buying history, size and weight. 29


TARGET CONSUMER Dick’s Sporting Good’s target market includes athletes, sport enthusiasts, and adventure seeking individuals. Demographics can range from a variety of different ages, gender and income levels. There are two main target groups divided by age, which includes high school and college students ages 16 to 25, and outdoor enthusiasts and parents over the age of 26. There is a small portion of the target group that have a degree from college, and have a career that isn’t sport related, but are passionate about sports. Most of them live in the North-East, West Coast, and South Coast. The target customers of Dick’s Sporting Goods are outdoor enthusiasts; they enjoy outdoor activities such as hiking, skiing, basketball, baseball, softball, soccer, football or tennis. They love adventure and understand the spirit of sporting. They enjoy doing outdoor activity to reduce stress, or enhance personal physique. Consumers are shopping for others as a gift or buying the necessary products necessary for the sporting activities their lives. They are focused on the functions of products rather than having products to be stylish. They prefer to shop online or through mobile apps due to their convenience.

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CUSTOMER PROFILEs

Katherine McDonnell

John Smith

Gender: Female

Gender: Male

Status: Single

Age: 45 years-old

Education: A senior college student in Miami

Status: Married with two children

University,

Location: Stanford, CA

Location: Miami, FL

Education: Graduated from Cornell University

Income: Monthly income from parents, about $1200,

Career: An interior designer

part-time job at Whole Foods.

Income: $45000 per year.

Activities: Paddle-board, Swimmer, other outdoor

Activities: Hiking and Camping with family and friends

activities.

and drawing on his free time.

Media Consumed: She often shares some of her

Belief: To build a stronger and better relationship with

exercise images and special experiences on her

others, especially to his children.

Facebook, Instagram and blog.

Technology Usage: John uses his smart phone to connect

Lifestyle: She loves hanging out with friends, and her

with people by phone calls, text and using Facebook

favorite place is Miami Beach.

Shopping Habits: He doesn’t shop often, most of his

Shopping Habits: She often shops at sporting stores

apparel is bought by his wife. However, he buys all of his

with friends, and every 3 or 4 weeks. She cares

hiking and other outdoor equipment himself by directly

about function buy still likes her apparel to be

visiting and shopping in stores. John buys his product

trendy.

solely for the function. 31


COMMUNICATION & PROMOTIONAL PLAN

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Integrated communication plan

Dick’s Sporting Goods communication and promotional plan will consist of using social media, digital media, advertising, and media buzz. Social Media will be used for the Pre-launch of the Weather Room to inform people that the Weather Room will be available in stores and show them how it is used and the purpose of it.

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Instagram will have short snippet videos and showcasing the weather to get people excited to see that the weather box simulates actual weather. This will focus on those that are more visual and want to see how it works rather than reading the information. There can also be a hash-tag for people that have used the Weather Room to show their experience, how they used it and to get the customer involved or interested. Twitter will allow customers to direct tweet Dick’s about what they think, if they are happy with their experience, and recommendations. Dick’s also currently has their customer service via twitter they can directly help with any questions they have. Customers can use the customer service from twitter to get more information about the recommended products after using the Weather Room if they would like.

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Facebook page will post YouTube videos of the Weather Room. The post can be the general idea of the Weather Room and then have the next video or recommended video going into detail of the process when using it in-store, weather simulation and being able to tell the body temperature during the simulation. For digital media Dick’s will be using their website, app and email. Their website will have a tab for information on the Weather Room. This tab will consist of the same videos from Facebook to show customers how the Weather Room works. There will be an overview of everything the Weather Room’s capabilities and how Dick’s hopes to help inform customers to pick the best appropriate products for their sporting needs. Dick’s app will geo-fence to customers to send a notification of those who are in the geographic region of the Weather Room and inform that they are near a location with the display. For advertising, Dick’s will continue to have television ads as well as Billboards that will be up for duration of 3 months. Media buzz will include press releases and an article featuring Dick’s Sporting Good’s Weather Room in Wired and VMSD Magazine.

Product/Service

Introducing a new experience in our -Store The Weather Room.

Sporting goods chain with equipment, apparel & footwear for athletics, outdoor recreation & fitness.

http://www.dickssportinggoods.com/

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Pre-launch, launch, and post launch promotional activities

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FINANCIAL PLAN During research to find companies that have or are developing the technology for a Weather Room, we could only find one, Tempescope. With only one company we have made a financial plan that full depends on Tempescope. The prices for In-store Displays, technology development, and logistics are as follows:

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In-store Display (per store)

Weather Box Weather Screen Instalation

Price ($) $ 50,000.00 $ 50,000.00 $ 5,000.00

Number

Total 3 $ 150,000.00 3 $ 150,000.00 3 $ 15,000.00

Total

Technology Development

Research Development Model Moving Platform Thermal Imaging

$ 315,000.00 Price ($) $ 500,000.00 $ 500,000.00 $ 100,000.00 $ 100,000.00

Number 1 1 1 1

Total

Logistics & Other

Logistics (per store) Human Resources Operations

Total $ 500,000.00 $ 500,000.00 $ 100,000.00 $ 100,000.00 $ 1,200,000.00

Price ($) $ 10,000.00 $ 1,000,000.00 $ 250,000.00

Number

Total 3 $ 30,000.00 1 $ 1,000,000.00 1 $ 250,000.00

Total

$ 1,280,000.00

Total

$ 2,795,000.00

In-store Display is in multiples of three because each store with this initiative will have three weather rooms. Bringing the cost per store to be $315,000.

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Conclusion

Dick’s Sporting Goods is trying their best to stay on track with what customers want while keeping in mind the advancements that are happening with technology. We hope to bring more customers to our brick and mortar stores by enhancing the in store shopping experience with our Weather Room. We are catering to our customer by still giving them the ability to shop online through our website or app but seeing the products in store. We want to inform our customers and help them pick the best products to fit their needs.

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Appendix

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Qiaoning Gu Natalie James Lisa Pham Annastasha Willis Non-Traditional Retailing Fall 2015

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