Chapter 8 : Multi-channel Success and The Future of E-Retailing

Type of multi-channel

  • Stores
  • Catalogs
  • Internet

Unique Benefits Provided by Store Channel

  • Browsing
  • Touching & feeling
  • Personal service
  • Cash & credit payment
  • Entertainment & social interaction
  • Immediate gratification
  • Risk Reduction

Consumer buying decision process in multi-channel

  • Need Recognition
  • Information Search
  • Information evaluation
  • Purchase decision
  • Post-purchase behavior

Key to Multi-Channel Retailing

  • Create a Seamless Experience
    -synchronized & consistent service regardless of channel
  • Know the customer - Needs & preferences
  • Provide support - call center, shopping advice,customer service
  • Make it easy -ordering, returns, refunds

Challenges

  • lack of skills to succeed in internet retailing
  • lack of trust in internet retailing
  • locale limitations
  • high start up of overhead cost

The Multi-channel retailer - A retailer that sells merchandise or service through more than one channel. By using a combination of channels, retailers can exploit the unique benefits provided by each channel

Future Trend

  • Electronic Kiosk - An interactive electronic would be one of the future trend in the retailing.
  • Electronic Payment -is any digital financial payment transaction involving currency transfer between two or more parties.
  • Audio visual shopping trolley
    -will be one of the future trend which assist & support shoppers as they negotiate a bricks store.
    -the function of this with shopper. It provide the information & really reliability &conveniences

Benefits provided by internet channel

Broad Selection - The vast number of alternatives available to consumers.

Detailed problem solving information - to help customers make better purchase decision

Personalization- offering live, online chat-opportunity - access to more retailers &deeper merchandise