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Multichannel Retailing

Multichannel Retailing. Chelsea Kjerstad. Multichannel retailers sell merchandise or services through more than one channel. Stores Catalogs Internet. Stores. Browse Touch & feel Pay cash Instant gratification Personal service Entertainment & interaction Reduction in risk. Catalogs.

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Multichannel Retailing

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  1. Multichannel Retailing Chelsea Kjerstad

  2. Multichannel retailers sell merchandise or services through more than one channel. Stores Catalogs Internet

  3. Stores • Browse • Touch & feel • Pay cash • Instant gratification • Personal service • Entertainment & interaction • Reduction in risk

  4. Catalogs • Convenient • “magalogs” • Safe • Portable

  5. Internet • Convenient • Safe • Personalization • Multiple assortment • Consumer reviews • Virtual communities

  6. Increasing Conversion Rates A conversion rate is the percentage of consumers who buy a product after viewing it online. • Brand consistency • 3D imagery • Providing services • www.rei.com/adventures

  7. Multichannel Retailing • Offers opportunity to overcome limitations of existing retail format • Reaches new markets • Builds “share of wallet” • Enables insight into consumers’ shopping behavior

  8. Overcoming Existing Format • Size of store & assortments offered • Inconsistent execution • Catalog limitations

  9. Increasing Share of Wallet Share of wallet is the percentage of total purchases made by a customer from that retailer. 19% 16% 5% 43% 11% 6% Percentage indicates proportion of customers browsing in one channel and purchasing in another.

  10. Effective Operation • Develop assortments & manage inventory • Manage store operations & employees • Distribute merchandise & accept returns effectively • Undertake nonstore retail activities • Process orders electronically • Provide seamless customer experience across channels

  11. Disintermediation Manufacturer selling directly to consumers Retailer Manufacturer Consumer

  12. Multichannel Issues • Technology upgrades • Brand image • Pricing • Shopping experience • Assortment & consumer expectations

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