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Litterateur review (From multi-channel to omni-channel retailing (multi…
Litterateur review
From multi-channel to omni-channel retailing
introduction
disruptive technological development
affecting industries differently
travel industry
food-retailing
multi-channel retailing
multi-channel customer management
def.
the design, deployment, coordination, and evaluation of channels to enhance customer value through effective customer acquisition, retention, and development
channel types
offline channels
online channels
traditional direct marketing channels
the channels are often been managed seperatly
omnichannel retailing
changes/phenomena
the natural boarders between channels has been blurred and is beginning to disappear
customer behavior
showrooming
search offline buy online
search information in the store while they at the same time search information on their mobile for more information about offers
webrooming
search online buy offline
Customer experiences
Wi-fi
integrating new technology in customer experience
creating interactive experiences
Netflix
Pokemon go
technology
digital and mobile channels
def
the synergistic management of numerous available channels and customer touch points, in such a way that the customer experience across channels and the performance over channels is optimized
multi-channel litterature
major topics
impact of channels on performance
shopper behaviour across channels
retail mix across channels
online-offline channel integration
integrating access to and knowledge about the offline channel into the offline channel
findings
leads to channel synergies rather than cannibalization
showrooming
Future of retailing
introduction
technologies
data collection
transactional data
consumer data
environmental data
segmentation and targeting
The retail landscape
business model
product market strategies
omnichannel
segmentation and targeting
new
subscription
consumer experiences
attention economy
bombarded with information about goods and services
decisions
system 1
system 2
five topic areas
technology and tools to facilitate decision making
new technologies
scan-and-go technologies
shop without interaction with cashier
varients
Use smartphone to scan items they shop
Amazon go
no need to scan products
computer vision, sensor fusion and deep learning, keeps track of items in a visual cart as they are picked of the selves
mobile apps
self-check-outs
Value adding
buisness
saves labor costs
advanced data collection
segmentation and targeting
offer relevant offers reflecting locational information
time of day etc
whether
personalizing offerings
consumers
quick
waiting times reduced from 4 min to 30 s
personalized offerings
value extracting
personalization-privacy paradox
can both enhance and diminish customer engagement
interaction with product marketing strategies
might be more synergistic with high low pricing strategies
visual displays and merchandise offers decisions
How to design and deliver offers that stand out?
The importance of ensuring that consumers pay attention to the offering
visual salience bias
KSF assists the consumer in processing the information
product market strategies
promotion
organization on shelf
making sure each item relates to the assortment context
carefully thinking though the spatial positioning of merchandise
1 more item...
reducing the size of the assortment presented
reducing information intensity
product packing
important visual components
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roles of three layers in affecting
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sales promotion
sales price is more effective when placed right of the offering
sales price is more effective when placed right of the reference price
distribution (place)
price
consumption and engagement
creating superior customer experience
holistic approach of addressing customers cognitive, affective, emotional, social and physical responses to the retailer
factors
inside of control
service interface
retail atmosphare
assortment
price
outside of control
influence of others
purpose of shopping
building customer engagement
incorporating a higher purpose and values to center the mission of the company
leveraging social media
social media engagement
drivers
connected
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network
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information
dynamic
timeliness
category specific strategies
food retailing
mission promote healthier eating
tools/components
3 more items...
visual cues contained within digital displays or dynamic messages
dynamic messages (video)
help to mentally transport customers into the experience
creates stronger emotional connection
reduces customer price sensitivity
enhances their consumption of more hedonistic options
building employee engagement
important research topic because emotional engage employees are more likely to engage customer
big data collection and usage
helps retailers and researchers to understand customer behavior
clearer assessment of causality between independent and dependant variable
independant
promoted price
display location
assortment etc
dependant
store sales
profitability
brand switching etc
analytics and profitability
further future
internet of things
smart appliances
reorder when out of milk
virtual and augmented reatlity
virtual fashion shows
Pokemon go
AI
answer questions replacing store clearks
where things are located
make suggestions of complementary products
robots
replacing humans in distribution centers