No secret that multichannel retailing is the profitable modern mode of doing business. Transforming all customer contact platforms into selling points is the surefire strategy of being a step ahead of the competitors. However, customer experience is static. Whether you are operating single or multiple channels, offering seamless customer experience is the determiner of your revenue. Great experience will always lead to more revenue, and the opposite is true.
In particular, ensuring the customer gets the same level of experience regardless of whether they shop on your in-store, online store, marketplace, or social media platform. But how do you achieve this objective? By enhancing end to end integrations. Why is this essential? Here are the three reasons:
Customers have different buying behavior
While treating each customer meeting point as a selling platform, it is critical to understand that customers have different buying habits. There is a portion of customers who will check for a product on your online store or marketplaces and then proceed to buy it at your physical store. Others will visit your e-commerce site, check the customer’s views on the social pages, place orders through the marketplaces, and visit your in-store to pick them. For this reason, you need to integrate your selling channels to ensure they tally with the customers shopping behavior.
Easy business management
As you are aware, how you manage your business determines whether it will fail or succeed. Mainly, multichannel retailing calls for seamless management of inventories to avoid a case of overstocking or overordering. Having an end to end integration will enhance your business management. This is because you will always display the right information which is uniform across all selling platforms. Also, it will be easier for customers purchasing through virtual platforms to pick or return their items in the in-store. Through this, you will have a seamless customer experience by bringing both suppliers and customers on board.
Better price setting decisions
The reason for doing business is to make profits. For you to achieve this, you must have a solid pricing strategy that allows you to come up with competitive prices that covers your costs, earns you some profit, and affordable to the customers. When it comes to multichannel retailing, you need to treat each channel as a separate selling point with suiting prices. However, you must do so without affecting your revenue status. At this point, an end to end integration helps in setting prices without hurting your revenue.
Other topics that you can check in:
E-commerce in action at Newcastle M&S. Seamless use of multichannel retailing pic.twitter.com/F1Tjox8F14
— Mark Mitchell (@mitchellbiz) 28 de marzo de 2016