The evolution of retail from a channels point of view can be examined in 4 different groups. These groups represent the variety of channels and also how channels are treated as a whole. These groups are Single Channel, Multi-Channel, Cross-Channel and Omni-Channel.
The retail industry faces several challenges. One major challenge is adapting to constant shifts in the market. Customers now research purchases online and consider customer experience, forcing retailers to engage customers. While e-commerce grows, customers still prefer shopping in-store but use online for information. Retailers must create engaging experiences across online and in-store to build loyalty. Technological advancements are also imperative, like digital payment options, or retailers risk losing customers. Indian retailers additionally face infrastructure issues like underdeveloped transportation and poor storage facilities that drive up costs.
Challenges faced by 3pl businesses - an Anchanto Document devin simon
New business models have led organisations to change their course. With the fast changing eCommerce industry, 3PL businesses are struggling hard to meet the demands of their customers across APAC.
Download this insightful whitepaper to understand how 3PL businesses can overcome these challenges & enhance their operational excellence with new age technology solutions.
A commentary on various aspects of multichannel retailing. The article presents an approach for retailers strategizing integration of their retail channels.
The document discusses the future of online grocery shopping in the UK. It predicts that online grocery sales will increase dramatically over the next decade and will represent 40% of total grocery sales by 2025. This growth will be driven by factors like personalization of the online shopping experience and the increasing comfort of all generations with online shopping. Retailers can benefit from this growth by increasing revenue through higher online penetration and conversion rates, building loyalty, and improving targeted advertising. The key to growth is personalizing the online experience for each shopper.
Amazon has been successful during the pandemic by providing essential supplies. This has challenged even Amazon's supply chain capabilities. The "Amazon effect" refers to how online shopping has impacted traditional retailers due to changes in customer expectations and the competitive landscape. Strategies for retailers to compete include partnering with online platforms, adopting ecommerce, using social media, focusing on product interaction and impulse purchases, and emphasizing local products and employees. Amazon has seen steady revenue growth since 1995 and fluctuating but increasing net income since 1997.
Omninomics Creating a more connected value chainFrank Smith
The document discusses how the fashion industry is adapting to meet the demands of omni-channel retail and empowered consumers. It introduces the concept of "omninomics" - how the fashion value chain has evolved into an interconnected network to collaborate and provide seamless shopping experiences across channels. It provides examples of how companies like Bonobos are personalizing experiences through both physical stores and digital channels to better understand customers, create improved products, and drive higher online conversions. The key is for all partners across the value chain to work together using shared data to quickly get the right products to consumers through their preferred channels.
This document discusses trends in bringing offline and online retail together. It provides examples of companies that are collaborating across channels, such as Proyog selling on multiple marketplaces and YepMe expanding from online to offline retail. It also discusses the technology infrastructure needed to support an omni-channel approach, including elements like order management systems, store systems, warehouse management, and master data management. Customers now expect flexibility and convenience across channels, including options like store pickup, lockers, and same-day delivery. Retailers can benefit from collaborations that increase sales through new channels and provide customers a seamless experience.
The document outlines 13 themes for retailers in 2013, focusing on omnichannel retailing, reinventing physical stores, the rise of non-store formats, using mobile and social media for personalized engagement, managing transparency and complexity across channels, developing strong retailer brands, addressing societal responsibilities, and the risks of not adapting to changes in the retail environment. Key themes include leveraging data and technology to provide a seamless shopping experience across online and offline channels, reimagining physical stores, harnessing social sharing, and delivering more customized and localized experiences.
The retail industry faces several challenges. One major challenge is adapting to constant shifts in the market. Customers now research purchases online and consider customer experience, forcing retailers to engage customers. While e-commerce grows, customers still prefer shopping in-store but use online for information. Retailers must create engaging experiences across online and in-store to build loyalty. Technological advancements are also imperative, like digital payment options, or retailers risk losing customers. Indian retailers additionally face infrastructure issues like underdeveloped transportation and poor storage facilities that drive up costs.
Challenges faced by 3pl businesses - an Anchanto Document devin simon
New business models have led organisations to change their course. With the fast changing eCommerce industry, 3PL businesses are struggling hard to meet the demands of their customers across APAC.
Download this insightful whitepaper to understand how 3PL businesses can overcome these challenges & enhance their operational excellence with new age technology solutions.
A commentary on various aspects of multichannel retailing. The article presents an approach for retailers strategizing integration of their retail channels.
The document discusses the future of online grocery shopping in the UK. It predicts that online grocery sales will increase dramatically over the next decade and will represent 40% of total grocery sales by 2025. This growth will be driven by factors like personalization of the online shopping experience and the increasing comfort of all generations with online shopping. Retailers can benefit from this growth by increasing revenue through higher online penetration and conversion rates, building loyalty, and improving targeted advertising. The key to growth is personalizing the online experience for each shopper.
Amazon has been successful during the pandemic by providing essential supplies. This has challenged even Amazon's supply chain capabilities. The "Amazon effect" refers to how online shopping has impacted traditional retailers due to changes in customer expectations and the competitive landscape. Strategies for retailers to compete include partnering with online platforms, adopting ecommerce, using social media, focusing on product interaction and impulse purchases, and emphasizing local products and employees. Amazon has seen steady revenue growth since 1995 and fluctuating but increasing net income since 1997.
Omninomics Creating a more connected value chainFrank Smith
The document discusses how the fashion industry is adapting to meet the demands of omni-channel retail and empowered consumers. It introduces the concept of "omninomics" - how the fashion value chain has evolved into an interconnected network to collaborate and provide seamless shopping experiences across channels. It provides examples of how companies like Bonobos are personalizing experiences through both physical stores and digital channels to better understand customers, create improved products, and drive higher online conversions. The key is for all partners across the value chain to work together using shared data to quickly get the right products to consumers through their preferred channels.
This document discusses trends in bringing offline and online retail together. It provides examples of companies that are collaborating across channels, such as Proyog selling on multiple marketplaces and YepMe expanding from online to offline retail. It also discusses the technology infrastructure needed to support an omni-channel approach, including elements like order management systems, store systems, warehouse management, and master data management. Customers now expect flexibility and convenience across channels, including options like store pickup, lockers, and same-day delivery. Retailers can benefit from collaborations that increase sales through new channels and provide customers a seamless experience.
The document outlines 13 themes for retailers in 2013, focusing on omnichannel retailing, reinventing physical stores, the rise of non-store formats, using mobile and social media for personalized engagement, managing transparency and complexity across channels, developing strong retailer brands, addressing societal responsibilities, and the risks of not adapting to changes in the retail environment. Key themes include leveraging data and technology to provide a seamless shopping experience across online and offline channels, reimagining physical stores, harnessing social sharing, and delivering more customized and localized experiences.
Omni Channel Best Practices Guide by RaymarkRaymark
Omni-channel retail is getting a lot of buzz these days. For good reason: consumers are shopping in new ways, and they expect to relate with brands on their own terms, whenever, wherever and however they desire. Faced with a world of options at their fingertips, gaining consumer loyalty can be an uphill battle. In this guide, Raymark explores the best practices retailers must consider when implementing omni-channel point of sale, clienteling and other retail systems.
For more information, visit www.raymark.com.
Omni-channel Retail - Bridging the Digital and Brick & Mortar DivideAdrian Teo
Ok, so you have a website, facebook page, even mobile apps, but how is that helping you to engage your consumers when you need it most… when they are at your outlets!
I mean how do you drive footfall and sales from digital to your brick & mortar channels? How do you identify your consumers, personalized that engagement and get them to buy before they step out?
And we don’t mean spamming everyone with the same promotion at that outlet, but personalized according to their profiles, transaction history and location. Better yet, it’s all automated, you really don’t want to be pouring through and interpreting heaps of customer data.
In this presentation, I share the challenges faced by retailers, shop owners, F&B and mall operators in bridging the digital and brick & mortar divide. While each solution is unique to your retail business, vertical or consumer behaviours, it is about breaking down the silos that exist in your consumer touch points, enterprise solutions, best practices and how TAO OF SHOP can help you to bring it all together.
[Online Business Case Competition 2020] Suncream TeamBich Nguyen
Business Case Study Competition is a nationwide online business case competition organized by Company Insider, patronized by The Trainee Club, attracted more than 300 participating teams.
Our team of 2 members has to make a deep analysis of the business situation and propose solutions to boost revenue & sales.
Looking forward to receiving your feedback.
10 Digital Commerce Trends from the Fashion and Apparel, 2020 ReportAlaina Carter
COVID-19 made this season quite unfashionable as, just like other industries, the fashion industry also faced the consequences of this pandemic. Thanks to digital transformation, the fashion and apparel industry has a fair chance to bounce back. Read more to know what are the 10 Digital commerce trends from the fashion and clothing, 2020 report.
Omni-Channel Retailing: The Future Trend in Fashion and Luxury Industry - Par...Fashionbi
This publication offers you insights into:
-The most important findings from various surveys that were recently conducted on the changing behauviors of consumer
-Best Omni-Channel marketing practices of more than 60 famous brands and retailers.
-More than 25 successful future retail trends and opportunities in Fashion
The document discusses strategies for retailers to engage with tomorrow's shoppers in a changing retail environment. It outlines three key strategies: 1) Combating new disruptive entrants by reimagining the industry with a focus on future consumers. 2) Providing personalized shopping experiences using new technologies. 3) Creating a digitally integrated enterprise that can respond quickly to changes. Leading retailers will anticipate and exceed customer expectations rather than just meeting them, and personalization will be important for competitive advantage.
The document summarizes retail industry trends in Vietnam from 2009 to 2014. It shows that the retail market grew significantly over this period, with store-based retailing growing at a CAGR of 17.3% and non-store retailing growing at a CAGR of 28.8%. Grocery retailers make up the largest share of store-based retailing, while internet pure play retailers dominate non-store retailing. The top trends include rising incomes boosting retail growth, the emergence of private labels, Vietnam as an attractive market for foreign retailers, and increasing popularity of internet retailing.
This document outlines a proposed loyalty business model to bridge the gap between retailers and consumers using mobile technology. It discusses setting up a platform where retailers can publish offers and consumers can access them on their mobile devices. Retailers would pay an annual fee to join, and revenues would come from signing up individual stores, small/large chains, and nationwide retailers. The proposal estimates customer acquisition, store signups, operational costs, and projected revenues over two years, with revenues reaching $434,000 by the end of the second year. Successful similar loyalty programs already operating in other markets are provided as examples. Initial steps outlined to launch the business include hosting the software, setting up demonstrations, and beginning sales efforts with consumer brands in a target
This whitepaper discusses the challenges facing traditional brick-and-mortar grocers in expanding their businesses to include e-commerce grocery shopping. It notes that while e-commerce currently accounts for less than 1% of the $700 billion food and beverage market, there is significant growth potential. Traditional grocers can leverage their existing networks of stores to overcome limitations faced by pure online grocers. The whitepaper examines options for order fulfillment, including in-store picking, dedicated e-commerce facilities, and automated locker systems. It emphasizes the importance of providing convenient delivery and pickup options to attract online grocery customers.
Tesco launched a "virtual store" mobile app in South Korea that allowed customers to scan product barcodes to view information and place orders for delivery, leveraging the country's tech-savvy population and widespread smartphone usage to provide a more convenient shopping experience without needing to expand its physical store presence. However, the initiative struggled with high delivery costs and failed to gain significant customer traction.
FINAL_StitchLabs_InventoryVisibility_Report_v2Thomas Marks
This document discusses the challenges retailers face in achieving omnichannel success and profitability. Some key barriers include siloed backend systems that make it difficult to get a complete view of inventory levels and sales across channels. This can lead to inaccurate inventory data and missed sales opportunities. The document recommends that retailers integrate their systems to break down data silos, automate manual operations to improve efficiencies, and increase inventory visibility across all fulfillment locations and sales channels in order to unlock omnichannel control and profitability.
Innovation in the Retail Sector - DenaveAmitNagar38
The document discusses the global retail industry, which was valued at approximately $25 trillion in 2018 and is expected to rise to $28 trillion by 2020. It notes that the industry is undergoing significant transformation driven by technological innovation and changes in consumer behavior. Retailers are innovating through omnichannel retail, personalized experiences, and technologies like artificial intelligence and analytics to remain competitive in the evolving landscape. The future of retail is expected to increasingly incorporate elements like contextual customer recognition, conversational commerce, gamification, and intelligent supply chains.
Obstacles:
• Turning customer data into usable insights.
• Effort of implementing new technology.
• Integrating with other platforms.
• Integrating channels, e.g., ecommerce, in store, marketplaces
• Store issues: competition, margin compression, store capacity
TrustRobin...app health education....https://youtu.be/57ghR94SYXM
Digital Strategy For Retail: Omnichannel (The Hive Think Tank)iVentures Consulting
DIGITAL STRATEGY FOR RETAIL: OMNICHANNEL
The Hive Think Tank on May 7th, 2014 at General Assembly in San Francisco with Christophe Biget (iVentures Consulting, co-CEO), Tyler Kohn (RichRelevance, CTO), Kerem Tomak (Macy's, VP, Marketing Analytics and CRM) and Greg Tanaka (Bay Sensors, CEO)
More information about eShopper Index:
- Overall ranking: http://www.slideshare.net/aureliaa/2014-eshopper-index-overall-ranking
- Presentation & subscription: http://www.iventures-consulting.com/eshopper-index
This document provides an overview and summaries of Evolution Insights' 2014 report on multi-channel shopping. It includes summaries of key findings on channel penetration, shopping trips by demographic groups, and top categories and drivers for each channel including premium supermarkets, convenience stores, discount supermarkets, and high street discounters. The methodology section describes Evolution's use of secondary research, surveys of over 1,000 UK shoppers, and analysis of shopping behaviors, motivations and demographics for each channel.
The document summarizes an analysis of opening a new supermarket mall in the city of Erqi. It discusses the mall's opportunities such as its central location and transport facilities. Threats include high rent costs and competition from nearby department stores and large shopping malls. A SWOT analysis is provided comparing the new mall to competitors like Walmart. Market research shows the area has potential for commercial development. The conclusion recommends opening a large supermarket at the proposed site, due to its high commercial value and accessibility.
This presentation was given by Mark Strella and Mike Massey of Locally at the June 2017 Grassroots Outdoor Alliance in Albuquerque, New Mexico. Mark and Mike covered the changing landscape of omni-channel shopping, and how brands can leverage their retailer network to effective serve this ever evolving breed of shopper.
A Guide to Crafting an Effective Omnichannel Strategy (1).pdfchristiemarie4
Omnichannel is a marketing approach that offers an integrated shopping experience to the customers. Keep reading to know more about this omnichannel strategy.
Thats what did you do you just wrote on sentences i need more detail.docxjonghollingberry
Thats what did you do you just wrote on sentences i need more details plz
2 and 1\2 pages
i dont want it to look like qustion and you already used and have the source
Literature Review
E - Commerce Strategies.
Definition and origin of Omni-channel retailing:
i.
What is Omni-channel
retailing
?
Omni-channel refers to a
multichannel
approach to sales that seeks to provide the customer with seamless shopping experiences. It provides the customer with the capability of either
buying
products online from a mobile device or a desktop. Also, customers can shop in bricks and mortar store or by telephone.
ii.
Describe the origin of Omni-channel?
Its
reason for implementing it?
It is a marketing strategy that begun way back 2003 whereby it has evolved from unfamiliar
concept
to trendy buzzword, to a critical component
of
successful marketing. Omni-channel began and
mainly
based itself on Customer Centricity in stores.
Its origin was figured out by
Best Buy
when they realized they could not beat
Walmart
on price. Therefore, the strategy ventured by Best Buy aimed at competing with Walmart
to
out do
them in online retailing.
It is in this regard that technology can blur the distinction between online and physical retailing, hence enabling the retailers and their supply chain partners rethink their competitive strategies.
References
Morse, G. (2011). Retail Isn't Broken. Stores Are. Harvard Business Review, 89(12), 78-82.
Bernstein,
F.,
Song,
J.,
& Zheng, X. (2008). “bricks-and-mortar” vs. “clicks-and-mortar”: An equilibrium analysis
. European
Journal of Operational Research,
187
(3), 671-690.
Brynjolfsson,
E.,
Hu,
Y.
, &
Rahman,
M.
(2013).
Competing in the age of Omni-channel retailing.
MIT
Sloan Management Review, 54(4), 23-29.
Current issues in Omni-channel retailing:
i.
What are the current issues of retailers and merchants?
Currently, most retailers and merchants are “Omni-channel” in their behavior and outlook. It is because they are majorly venturing into the offline and online retails channel to do their marketing and sales to clients. Merchants and Retailers in new environment flourish through re-examining their strategies for delivering products and information to their customers.
ii.
What are the impacts of online-offline integration of Omni-channel retailing?
There is a rise of non-significant cannibalization of the physical stores, the small merchants and retailers from the channel integration. The retailers mostly advocate a competitive advantage through channel integration of both offline and online retailing. It has led to the willingness of the customers paying across channels.
iii.
Outline general consideration of innovation in regards to Omni-channel retailing?
Innovations have to address industry, consumer, and regulatory-based challenges in order
to facilitate the globalization of markets. Distinct changes have to be incorporated in the current mature, emerging and less develope.
Omni Channel Best Practices Guide by RaymarkRaymark
Omni-channel retail is getting a lot of buzz these days. For good reason: consumers are shopping in new ways, and they expect to relate with brands on their own terms, whenever, wherever and however they desire. Faced with a world of options at their fingertips, gaining consumer loyalty can be an uphill battle. In this guide, Raymark explores the best practices retailers must consider when implementing omni-channel point of sale, clienteling and other retail systems.
For more information, visit www.raymark.com.
Omni-channel Retail - Bridging the Digital and Brick & Mortar DivideAdrian Teo
Ok, so you have a website, facebook page, even mobile apps, but how is that helping you to engage your consumers when you need it most… when they are at your outlets!
I mean how do you drive footfall and sales from digital to your brick & mortar channels? How do you identify your consumers, personalized that engagement and get them to buy before they step out?
And we don’t mean spamming everyone with the same promotion at that outlet, but personalized according to their profiles, transaction history and location. Better yet, it’s all automated, you really don’t want to be pouring through and interpreting heaps of customer data.
In this presentation, I share the challenges faced by retailers, shop owners, F&B and mall operators in bridging the digital and brick & mortar divide. While each solution is unique to your retail business, vertical or consumer behaviours, it is about breaking down the silos that exist in your consumer touch points, enterprise solutions, best practices and how TAO OF SHOP can help you to bring it all together.
[Online Business Case Competition 2020] Suncream TeamBich Nguyen
Business Case Study Competition is a nationwide online business case competition organized by Company Insider, patronized by The Trainee Club, attracted more than 300 participating teams.
Our team of 2 members has to make a deep analysis of the business situation and propose solutions to boost revenue & sales.
Looking forward to receiving your feedback.
10 Digital Commerce Trends from the Fashion and Apparel, 2020 ReportAlaina Carter
COVID-19 made this season quite unfashionable as, just like other industries, the fashion industry also faced the consequences of this pandemic. Thanks to digital transformation, the fashion and apparel industry has a fair chance to bounce back. Read more to know what are the 10 Digital commerce trends from the fashion and clothing, 2020 report.
Omni-Channel Retailing: The Future Trend in Fashion and Luxury Industry - Par...Fashionbi
This publication offers you insights into:
-The most important findings from various surveys that were recently conducted on the changing behauviors of consumer
-Best Omni-Channel marketing practices of more than 60 famous brands and retailers.
-More than 25 successful future retail trends and opportunities in Fashion
The document discusses strategies for retailers to engage with tomorrow's shoppers in a changing retail environment. It outlines three key strategies: 1) Combating new disruptive entrants by reimagining the industry with a focus on future consumers. 2) Providing personalized shopping experiences using new technologies. 3) Creating a digitally integrated enterprise that can respond quickly to changes. Leading retailers will anticipate and exceed customer expectations rather than just meeting them, and personalization will be important for competitive advantage.
The document summarizes retail industry trends in Vietnam from 2009 to 2014. It shows that the retail market grew significantly over this period, with store-based retailing growing at a CAGR of 17.3% and non-store retailing growing at a CAGR of 28.8%. Grocery retailers make up the largest share of store-based retailing, while internet pure play retailers dominate non-store retailing. The top trends include rising incomes boosting retail growth, the emergence of private labels, Vietnam as an attractive market for foreign retailers, and increasing popularity of internet retailing.
This document outlines a proposed loyalty business model to bridge the gap between retailers and consumers using mobile technology. It discusses setting up a platform where retailers can publish offers and consumers can access them on their mobile devices. Retailers would pay an annual fee to join, and revenues would come from signing up individual stores, small/large chains, and nationwide retailers. The proposal estimates customer acquisition, store signups, operational costs, and projected revenues over two years, with revenues reaching $434,000 by the end of the second year. Successful similar loyalty programs already operating in other markets are provided as examples. Initial steps outlined to launch the business include hosting the software, setting up demonstrations, and beginning sales efforts with consumer brands in a target
This whitepaper discusses the challenges facing traditional brick-and-mortar grocers in expanding their businesses to include e-commerce grocery shopping. It notes that while e-commerce currently accounts for less than 1% of the $700 billion food and beverage market, there is significant growth potential. Traditional grocers can leverage their existing networks of stores to overcome limitations faced by pure online grocers. The whitepaper examines options for order fulfillment, including in-store picking, dedicated e-commerce facilities, and automated locker systems. It emphasizes the importance of providing convenient delivery and pickup options to attract online grocery customers.
Tesco launched a "virtual store" mobile app in South Korea that allowed customers to scan product barcodes to view information and place orders for delivery, leveraging the country's tech-savvy population and widespread smartphone usage to provide a more convenient shopping experience without needing to expand its physical store presence. However, the initiative struggled with high delivery costs and failed to gain significant customer traction.
FINAL_StitchLabs_InventoryVisibility_Report_v2Thomas Marks
This document discusses the challenges retailers face in achieving omnichannel success and profitability. Some key barriers include siloed backend systems that make it difficult to get a complete view of inventory levels and sales across channels. This can lead to inaccurate inventory data and missed sales opportunities. The document recommends that retailers integrate their systems to break down data silos, automate manual operations to improve efficiencies, and increase inventory visibility across all fulfillment locations and sales channels in order to unlock omnichannel control and profitability.
Innovation in the Retail Sector - DenaveAmitNagar38
The document discusses the global retail industry, which was valued at approximately $25 trillion in 2018 and is expected to rise to $28 trillion by 2020. It notes that the industry is undergoing significant transformation driven by technological innovation and changes in consumer behavior. Retailers are innovating through omnichannel retail, personalized experiences, and technologies like artificial intelligence and analytics to remain competitive in the evolving landscape. The future of retail is expected to increasingly incorporate elements like contextual customer recognition, conversational commerce, gamification, and intelligent supply chains.
Obstacles:
• Turning customer data into usable insights.
• Effort of implementing new technology.
• Integrating with other platforms.
• Integrating channels, e.g., ecommerce, in store, marketplaces
• Store issues: competition, margin compression, store capacity
TrustRobin...app health education....https://youtu.be/57ghR94SYXM
Digital Strategy For Retail: Omnichannel (The Hive Think Tank)iVentures Consulting
DIGITAL STRATEGY FOR RETAIL: OMNICHANNEL
The Hive Think Tank on May 7th, 2014 at General Assembly in San Francisco with Christophe Biget (iVentures Consulting, co-CEO), Tyler Kohn (RichRelevance, CTO), Kerem Tomak (Macy's, VP, Marketing Analytics and CRM) and Greg Tanaka (Bay Sensors, CEO)
More information about eShopper Index:
- Overall ranking: http://www.slideshare.net/aureliaa/2014-eshopper-index-overall-ranking
- Presentation & subscription: http://www.iventures-consulting.com/eshopper-index
This document provides an overview and summaries of Evolution Insights' 2014 report on multi-channel shopping. It includes summaries of key findings on channel penetration, shopping trips by demographic groups, and top categories and drivers for each channel including premium supermarkets, convenience stores, discount supermarkets, and high street discounters. The methodology section describes Evolution's use of secondary research, surveys of over 1,000 UK shoppers, and analysis of shopping behaviors, motivations and demographics for each channel.
The document summarizes an analysis of opening a new supermarket mall in the city of Erqi. It discusses the mall's opportunities such as its central location and transport facilities. Threats include high rent costs and competition from nearby department stores and large shopping malls. A SWOT analysis is provided comparing the new mall to competitors like Walmart. Market research shows the area has potential for commercial development. The conclusion recommends opening a large supermarket at the proposed site, due to its high commercial value and accessibility.
This presentation was given by Mark Strella and Mike Massey of Locally at the June 2017 Grassroots Outdoor Alliance in Albuquerque, New Mexico. Mark and Mike covered the changing landscape of omni-channel shopping, and how brands can leverage their retailer network to effective serve this ever evolving breed of shopper.
A Guide to Crafting an Effective Omnichannel Strategy (1).pdfchristiemarie4
Omnichannel is a marketing approach that offers an integrated shopping experience to the customers. Keep reading to know more about this omnichannel strategy.
Thats what did you do you just wrote on sentences i need more detail.docxjonghollingberry
Thats what did you do you just wrote on sentences i need more details plz
2 and 1\2 pages
i dont want it to look like qustion and you already used and have the source
Literature Review
E - Commerce Strategies.
Definition and origin of Omni-channel retailing:
i.
What is Omni-channel
retailing
?
Omni-channel refers to a
multichannel
approach to sales that seeks to provide the customer with seamless shopping experiences. It provides the customer with the capability of either
buying
products online from a mobile device or a desktop. Also, customers can shop in bricks and mortar store or by telephone.
ii.
Describe the origin of Omni-channel?
Its
reason for implementing it?
It is a marketing strategy that begun way back 2003 whereby it has evolved from unfamiliar
concept
to trendy buzzword, to a critical component
of
successful marketing. Omni-channel began and
mainly
based itself on Customer Centricity in stores.
Its origin was figured out by
Best Buy
when they realized they could not beat
Walmart
on price. Therefore, the strategy ventured by Best Buy aimed at competing with Walmart
to
out do
them in online retailing.
It is in this regard that technology can blur the distinction between online and physical retailing, hence enabling the retailers and their supply chain partners rethink their competitive strategies.
References
Morse, G. (2011). Retail Isn't Broken. Stores Are. Harvard Business Review, 89(12), 78-82.
Bernstein,
F.,
Song,
J.,
& Zheng, X. (2008). “bricks-and-mortar” vs. “clicks-and-mortar”: An equilibrium analysis
. European
Journal of Operational Research,
187
(3), 671-690.
Brynjolfsson,
E.,
Hu,
Y.
, &
Rahman,
M.
(2013).
Competing in the age of Omni-channel retailing.
MIT
Sloan Management Review, 54(4), 23-29.
Current issues in Omni-channel retailing:
i.
What are the current issues of retailers and merchants?
Currently, most retailers and merchants are “Omni-channel” in their behavior and outlook. It is because they are majorly venturing into the offline and online retails channel to do their marketing and sales to clients. Merchants and Retailers in new environment flourish through re-examining their strategies for delivering products and information to their customers.
ii.
What are the impacts of online-offline integration of Omni-channel retailing?
There is a rise of non-significant cannibalization of the physical stores, the small merchants and retailers from the channel integration. The retailers mostly advocate a competitive advantage through channel integration of both offline and online retailing. It has led to the willingness of the customers paying across channels.
iii.
Outline general consideration of innovation in regards to Omni-channel retailing?
Innovations have to address industry, consumer, and regulatory-based challenges in order
to facilitate the globalization of markets. Distinct changes have to be incorporated in the current mature, emerging and less develope.
A Guide to Crafting an Effective Omnichannel Strategy.pdfLaura Miller
Omnichannel is a marketing approach that offers an integrated shopping experience to the customers. Keep reading to know more about this marketing strategy.
attune Whitepaper - How Fashion Businesses Can Win the Race for Omnichan...Andy Larsen
Fashion businesses face challenges in meeting evolving consumer demands and expectations in an omnichannel marketplace. Existing fragmented systems that operate in silos hinder businesses' ability to gain insights across their value chain. SAP's new Fashion Management Solution integrates operations to provide end-to-end visibility and allow businesses to better align supply with consumer demand in real-time across channels. This helps reduce costs and out-of-stocks while improving customer experience.
Creating an Omnichannel Supply Chain for BrandsMichael Hu
Branded manufacturers can take advantage of the unprecedented omnichannel opportunity to get closer to the consumer, if they manage to acquire the requisite fulfilment and supply chain capabilities. European Business Review
Digitization of Telecom and Smartphone Business: Post-COVID-19 Effects on the...ELEKS
"Digitization of Telecom and Smartphone Business: Post-COVID-19 Effects on the Industry" by Haroon S Khan, Founder & Chairman, SANSO.
The topic covers:
— The need for Digitalization of Telecom/Smartphone Business;
— Pros & Cons;
— Trend Changing;
— Post COVID-19 Effects forecast for the businesses in Telecom;
— Human & Digital world interaction especially in these days
these would be base points mainly;
— Digital currency and its need in this era of digitalization.
This report highlights the increasingly competitive nature
of the retail market, identifying changing consumer
behaviour as a key driver behind this. Consumers today
own much more ‘stuff’ than previous generations, making
it more difficult to persuade them to purchase additional
products. Consumers are also time-pressured, so convenience
and speed has taken priority.
All these factors, combined with supply side considerations - more intense focus on price, a deflationary retail environment and even greater choice - means retail growth will be much harder to achieve over the next ten years. For this reason, it is vital that retailers secure customer loyalty.
Understanding consumers’ behaviour, wants and needs is essential to build this loyalty. This isn’t just about knowing what customers want to buy, but truly understanding how and where they want to buy, their motivations and what they expect from their overall shopping experience.
This also means that retailers need to re-evaluate how to reach customers and reappraise traditional marketing techniques – many of which are still relevant, but are less impactful and influential in today’s environment. This deeper understanding will ultimately help retailers secure loyalty in the era of the unfaithful consumer.
The document provides 6 steps for retailers to build an omnichannel retail strategy: 1) create a unified shopping experience across channels, 2) align in-store and digital channels, 3) empower sales staff with real-time access to inventory and customer data, 4) establish an online presence and social proof, 5) integrate modern payment solutions across channels, and 6) use business intelligence to gain actionable insights. Following these steps can help retailers engage customers seamlessly across channels to improve sales and customer experience.
Outside of the Apple Stores - the highest performing stores in the history of retailers - the retail market has hit a quandary: e-commerce has seen year-over-year increases of retail market share and brick and mortar locations are left wondering what to do next.
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Rise of Omni-commerce and Its Reflections on Supply Chain Management
1. The Rise of Omni-commerce and
its reflections on
Supply Chain Management
Erhan Musaoğlu
Çağdaş Yıldız
Büşra Kurt
www.la.com.tr
2. As of today it’s obvious that evolution in
technology has a direct and breakthrough
impact on evolution of retail. No doubt
internet coming into our lives deeply and the
unlimited no of customer touch points for
people have the primary impact in this
evolution. Retail is facing a more demanding
and more powerful customer every day.
As a result of evolution in technology and
change in consumer behaviors, many different
sales channels have risen to access the
consumers.
The evolution of retail from a channels point of view can be examined in 4 different groups. These
groups represent the variety of channels and also how channels are treated as a whole. These groups
are Single Channel, Multi-Channel, Cross-Channel and Omni-Channel.
Single channel is called to be the brick-and-mortar companies who operate only in physical stores. The
physical stores are the only touch point between the brand and consumer and the consumer shops in
the physical stores with no other alternatives.
In cross channel which was an inevitable consequence of multi-channel, the consumer is able to go
through shopping experience in multiple channels of the same brand. Besides, the brand can offer
logistics services with common stocks and operations for the all channels. E.g the order of e-commerce
channel can be fulfilled by physical stores depot. On the other hand, cross-channel offers use of mobile
devices and applications in shopping experience and allows time saving for the consumer.
The Rise of Omni-commerce and
its reflections on Supply Chain Management
www.la.com.tr
3. Omni-commerce
We live in a fast-changing world. The number of customer
touch points is exploding. Innovation and agility are
critical factors for business success. Today, companies
need to be able to sell and communicate consistently
across online stores, smart phones, tablets, social
networks, and any internet-enabled devices.
New customer touch points are emerging every day and no one knows which touch points will be
respected by consumers. That’s why companies need to keep up with new innovations and they should
be ready to take advantage of those as they emerge. However, there are some challenges:
The pace of innovation accelerates dramatic: Leading brands such as Apple and Samsung, as well as
growing social media phenomena like Facebook, Twitter and Instagram are innovating continuously at
dramatic speeds. Customers are also keeping pace with the innovation speed hence often pushing these
channels for innovation. However, many retailers are struggling to keep up with evolving expectations
and the exponential increase of customer touch points.
Channel and product based processes and infrastructure fail to respond to innovation: Many
companies have developed processes and systems with the channel and the product, not the customer.
Furthermore, they are mostly standalone solutions with no communication with other systems. The
ultimate result is that they fail to deliver value to the customer and lack the functionality required in
today’s omni-channel world.
Cumbersome IT inhibits agility: It is difficult to come with a conclusion that which touch points will be
widely welcome by the consumers and which ones are destined to extinct. It is also difficult to estimate
the potential business benefits of a new touch point. This brings out the conclusion that companies
can’t afford to invest in lengthy, cumbersome IT processes to integrate each new touch point.
Commerce Universe: Unique Shopping Experience through
different retail parties
The most outstanding feature of omni-commerce is providing a seamless shopping experience to the
consumer across all channels. This means that when the consumer purchases an item of a brand from
any channel, he/she will encounter the standard service personalized for him/her. Many retailers create
their own e-commerce sites without considering that it’s a challenging business case without adequate
scale of fulfillment business. The alternative of selling through e-Retailers such as Amazon.com or
Hepsiburada.com and other consolidator sites can bring large
amount of sales potential. Today, many retailers are doing this well
since they fail to develop extensive strategies for collaborating
with e-retailers. As a matter of fact, omni-channel model and its
ultimate purpose to offer consumers unique service will push
retailers to collaborate with e-retailers, department stores and any
consolidative businesses.
Many retailers create
their own e-commerce
sites without considering
that it’s a challenging
business case without
adequate scale of
fulfillment business.
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4. As a result of this collaboration, the consumer will get the same level of standard service for the same
brand in different retailers; hence wherever he/she buys the item of the brand, he/she will face the
same service and standards. E.g when a consumer a purchases an i-phone at consolidator sites such as
amazon.com, he/she will be able to return it at an Apple Store in Atlanta or the other way round.
Omni-channel will push all parties of retail for a tight and extensive collaboration thus the competition
between brands will run through their overall retail chains. This is called “Commerce Universe” that
means collaboration between brands and retail parties letting them taking the full responsibility of
another brand.
Not an extension of brick-and-mortar
Many brick-and-mortar retailers try to setup their e-commerce, m-commerce businesses and many
others. Most of these companies address e-commerce and other channel businesses as an extension of
their brick-and-mortar business, keeping it in the center. With ignoring the different processes and
strategies required for different channels, they do a completely wrong startup. In order to leverage the
sizeable opportunity in different channels and compete profitably, the retailers need to orient their
organizational capabilities, internal processes, and content. Besides, they must do these without
jeopardizing their relationships with their traditional channel partners. The retailers must embrace a
truly omni-channel strategy.
SCM Impact of Omni-commerce
The history offers a big deal of changes where at certain points in time, several forces gather to spur
significant change. The industrial revolution, the age of computers, and the internet, are all examples of
these landmarks that rapidly shift the trajectory of the world. The supply chain is in the middle of one
such landmark caused by a retail model called omni-channel. The companies and brands who can
transform their supply chains fast to offer omni-channel shopping experience for the consumer will be
the ones who deserve to move forward. Those who don’t are destined to extinct.
Why is omni-channel causing a landmark? In omni-channel, there are changes in three key areas the
role of the store, the role of the DC and the way product is positioned.
The changing role of the store is obvious when offering superior services such as shipment or pickup of
online orders is considered. However, stores are also now being used by consumers as research sources.
Before ordering online, consumers want to see, touch and try on the product or ask questions. This
change definitely affects how product is positioned; how store staff is trained, equipped and
compensated.
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5. Innovations in Retail
With the rise of omni-channel, many technological innovations are brought into the retail world. These
innovations common purpose is to offer consumers better, standard, personalized and unique customer
service. Of course retailers apply these innovations to be one step closer to the consumer and move
forward in the competition.
The retailers started using “technology
desks” in their physical stores in order to
offer faster and more effective service to
the consumers. GSM companies started
building “technology desks” in their
service centers. At these desks, the
consumers are offered first-line expert
support for tasks such as phonebook
transfer, application installation, internet
and mobile modem settings.
Omni-channel model also has dramatic impact on distribution centers. As mentioned above, when
e-commerce channel is first embedded into the sales model of a brand, order fulfillment was mostly
done in separate operation centers. In order to simplify fulfilling the increasing volume of omni-channel
orders and benefit a single pool of stocks and operations and, workforce; fulfillment operations are
being gathered in single operation centers. However, fulfilling small e-commerce orders and shipping
small parcels requires totally different processes than replenishing stores with pallet and picking
algorithms and truckload shipments. The way of doing business in the distribution centers need to be
reengineered, workforce needs to be retrained, and maybe automation equipment needs to be
implemented. All of these similar changes must be implemented together to provide seamless and
superior shopping experience for consumers.
Merchandising should also change with the rise of omni-channel. The omni-channel model represents
the radical state of the consumer-driven economy and the consumer-driven economy will never be
satisfied with the traditional push strategy based on the product and channel. The consumer and
his/her preferences should be understood well, responded fast.
The combination of the change in the store, distribution center and merchandising cause the landmark
in retail and supply chain management.
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6. M-commerce is rising rapidly in the whole world. Today 65% of world population is using smart-phones
and people are surfing the internet mostly with these devices. Retailers are now providing free Wi-Fi
and also developing mobile compatible e-commerce sites. M-commerce is definitely being one step
closer to the consumer since through their smart-phones they have access to the brands anytime, and
they have the opportunity shop even while walking their dogs.
In retail, the consumer has a greater role than a king. The
consumer, even with a one touch of a finger, makes a purchase on
the other side of the world and receives the item in 24 hours,
regardless of the location, also 7/24. In this case, speed is one of
the most important success factors in this new generation of retail.
Popup stores that provide fast access to the consumers,
self-service kiosks, same day delivery are the new trends to be
applied by retail.
The retail is evolving with new technologies and innovative players
continuously. The players in the market such as Amazon are
developing superior technologies to be closer the consumer.
Amazon’s dash button lets you stick a wireless button on your washing
machine for you to order washing detergents as soon as you need it.
There are innovations such as fast delivery drones, delivery to lockers, NFC, scan as you shop, buy online
pickup in store, hologram, augmented reality, virtual store etc. that simplify the shopping experience for
the consumer.
THE KING OR MORE?
The consumer, even with
a one touch of a finger,
makes a purchase on the
other side of the world
and receives the item in
24 hours, regardless of
the location, also 7/24.
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7. Customer Loyalty Through Gamification
Despite massive marketing investments in websites, mobile apps, and social networking channels, the
new generation consumers hop from one site to the other and product to product faster than ever
before. Efforts to harness them and turn them into customer advocates are failing. Marketing people
are fighting for consumers’ time, attention, and loyalty. The result of this engagement crisis is more than
50% of consumers are completely inactive in loyalty programs. Marketing people need a new way to
recognize, influence, and reward valuable behaviors that shape consumers who will be both active and
loyal for long time.
Offering enhanced gamification features empowers retailers to build stickier user experiences for
consumers across all their channels. Applying gamification methods and strategies, companies can
drive, influence and reward valuable user behaviors everywhere.
What’s there around the
next corner?
Parallel to the acceleration of the rate of change in the
world and in business, the next landmark is coming right
on top of the current one. The emergence of the Internet
of Things (IoT) and 3D printing will drastically change
supply chain operations faster than you might think. The
retailers will need to complete their omni-channel
transformation before facing this next step.
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