Retailers can drive significant competitive advantage by focusing on the four key elements of Integrated Multi-Channel Retailing – customer relationship, channel strategy, retail operations and integration of systems and processes.
Multi-channel capability is currently in the forefront of retailers’ minds as a “must have” for driving customer loyalty and sales. And though many retailers are selling through more than one channel, those channels are often not linked cohesively to create a competitive multi-channel advantage.
Customers have increasingly high expectations: They want to move among channels throughout the sales journey and have consistent customer service and product offerings as they do so. At the same time, retailers are beginning to realize that when channels are implemented in silos rather than as an integrated whole they fail to deliver on these expectations, with predictable consequences in terms of lost sales.
To capitalize on these growing customer expectations and the market share that can be gained as a result, retailers must rethink their approach: They need a customerfocused integrated multi-channel strategy covering all aspects of their operations and technology. This paper offers a framework within which to develop such a strategy for Integrated Multi-Channel Retailing.