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CHAPTER 8 : Multi-channel Success and The Future of E-Retailing - Coggle…
CHAPTER 8 :
Multi-channel Success and The Future of E-Retailing
Multi-channel Success and The Future of E-Retailing
Introduction to Retailing
Types of Retailers
The important of Multi-channel
Future Trend
Benefits of Multi-channel
Challenges
The important of Multi-channel
Benefits of Multi-channel
Type of Multi-Channel
Catalogs
Internet
Stores
Unique Benefits Provided by Store Channel
1 .Browsing
Touching and feeling
Personal service
Cash and credit payment
Entertainment and social interaction
Immediate gratification
Risk Reduction
Introduction
Retailers that sell merchandise or services through more than one channel
Retailers can influence the unique benefits provided by each to attract and satisfy more customers.
Consumer Buying Decision Process in Multi-Channel
-Need Recognition
-Information Seach
-Information Evaluation
-Purchase Decision
-Post-purchase Behavior
Key to Multi-Channel Retailing
Know the customer
Make it easy
Create a seamless experience
Provide support
Challenges
=Lack of Skills to Succeed in Internet Retailing
=Lack of trust in Internet retailing
=Locale Limitations
=High start up of overhead cost
More Reasons for Becoming a Multi-Channel Retailer
Increase Share of Wallet
Overcome Limitations of Existing Format
Expand Market
Provide services more cost-efficiently
Leverage Existing Assets
Brand Name, Inventory, Customer Database
Develop Insights in Customer Shopping Behavior