The number of consumers shopping across multiple channels is expanding while retailers everywhere face margin challenges and an uncertain economy. Consumers will seek information both on-line, and through mobile technology but will only shop in the most convenient channel. Multi-channel retail has become theexpectation (and a competitive advantage). This strategy allows the company to be everywhere the consumer is shopping, and lowers the risk the shopper will inquire at their outlet, and spend their money elsewhere. The difficult part of multi-channel retail is making the transition and keeping up with the consumer trends. How are multi-channel retailers reacting to this change in consumer shopping?
- 67% of retailers currently enable cross-channel returns ( buy it on the internet, return instore)
- 64% of retailers provide product availability across channel
- 31% provide loyalty point redemption through multiple channels
- 23% provide transparency/consistency of pricing
- 18% provide in store self-serve kiosks
These are pretty staggering numbers. The retail industry is changing based on consumer dollars, because in this kind of unstable economy retailers have to follow the money, and find consumers on the consumer's terms. What do you think? Leave us a comment and let us know how you use multi-channel retailers, or how you see the technology being used in the industry.
