Multi-channel retail strategy 2017 the three triangle challenge

The only thing that is constant is change and in today’s retail era that is the only thing we can be certain of. Retaining our customers and market position means taking a bold new stance and phasing out the old ways of doing retail and the systems they run on.

Seamless Retail

Many retailers run a traditional shop model that looks, from the outside, to be smooth and seamless. But their fulfilment process and shop network exist as siloed elements, making order fulfilment unprofitable and inefficient – and that’s before online and click and collect is even thrown into the equation.

A recent PwC Total Retail 2017 Report revealed, that the most important in-store attributes in relation to the UK in-store shopping experiences were identified as sales assistants with a deep knowledge of the product range and the ability to check stock and extended ranges online and in-store. But how many retailers, including big brand names, can profitably do this?

Similar challenges face pure-play ecommerce retailers. The goal is to create great customer experiences, convenience and speed, whilst also finding the most profitable, low-friction fulfilment route.

So how do we start to overcome the profit challenge of meeting and exceeding customer expectations, raising the desired levels of personalisation and extending in-store experiences never dreamt of before including unimagined AR technology or personalisation with social share mirrors?

The answer lies in coordinating three challenge triangles.

Challenge Triangle One: In-store, Online, Mobile

There is an increasing need for retailers to maintain simplicity throughout the ever-evolving customer journeys and beyond. No matter where your customer choses to interact with you, at any time and at any place, the expect an instantaneous flow of information and omni-experience.

Challenge Triangle Two: Choice, Convenience, Speed

The increasing need for extended product choice, information and availability in-store is driven by the consumer’s online experience. Whether online or in-store, we must satisfy the modern and hopping shopper’s thirst for instant choice or risk losing their transaction. Equally, fuelled by the super convenience and exceptional speed of Amazon, today we no longer have the luxury of dictating timescales, delivery and collections to suite our commercial needs. Technology has changed shopping behaviour forever and retailers who don’t change how they operate and the systems that support the operation, will suffer.

Challenge Triangle Three: Order fulfilment, inventory control and customer experience.

In-order to fulfil orders with cross-channel consistency, accuracy and efficiency, a real time visible inventory is today not a luxury but an essential to control inventory across the multi-channel retail operation is customer service and experience are not to be destroyed.