Omnichannel 2014

Omnichannel 2014

Published: April 2014
Publisher: ResearchFarm Ltd
Product ref: 208181
Pages: 163
Format: PDF
Delivery: Immediate download

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Across the globe omnichannel retailing is becoming the new normal. Retailers that have not yet embraced it will need to start transforming their business models now to remain relevant with shoppers. Becoming omnichannel means progressing from a bricks & mortar retailer to becoming a platform that successfully intertwines offline and online channels and on which retailers will serve their customers’ needs (even those not traditionally considered as retail).

It requires a fundamental reorganisation of the business to build an all encompassing ecosystem around the consumer.

The challenge for any consumer brand, but especially a bricks and mortar retailer, is to make sure they are as relevant outside the four walls of their store as they are inside. In other words it’s all about engagement first, because that is the ultimate driver of conversion and hence sales growth.

An omnichannel strategy adds multiple layers of complexity and is not simply about bolting on new channels to the existing business. A true omnichannel strategy will revolutionise the entire business. Insights (and action plans) gained from the collection and analytics of real time customer data, linking up the off and online shopper, will drive a total transformation of all steps of the value chain. Omnichannel players will need to continuously find the optimum infrastructure, they will need maximum flexibility in their sourcing strategies, the supply chain set up, which needs to remain open to change, and in the home delivery solution mix. Moreover all the flexibility and agility required now will increase in volatility as business needs evolve on an even faster pace going forward. Omnichannel needs constant attention.

This report caters to both novice and experienced retailers and analyses the thoughts and processes needed to make the difficult art of omnichannel retailing a successful reality.

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