Understanding Omnichannel Retail - A Detailed Report

( 83 pages )

Not longer than 10 years ago, eCommerce was expected to become the sales channel for the future. Online entrepreneurs, as well as established retail companies rushed to open online sales facilities. Fast-forward to today and eCommerce is not enough anymore. Neither is any other channel, on its own. The battle between brick and mortar stores and online pure-plays is no longer relevant.

Consumers drive a revolution in retail, empowered by connected devices. Using mobile devices, they expect cross-channel service within brick and mortar stores, online in the web store, on their mobile, on social media and when dealing with phone order operators. Probably the biggest enabling technology has been the rise in smartphone usage. Its adoption created a bridge between previous silo-ed operations. Previously, companies added separated structures for new sales channels.

The ecommerce team, the mCommerce team, the social media commerce team and of course the central retail unit. Once technology was available, and omnichannel became a possible course of action, consumers deemed it not only possible, but expected. However, there is a huge gap between consumer expectations and retailer abilities at the moment.

First - there are organizational challenges, such as boardroom buy-in, as well as employee training and culture adoption.

Second - there are technological barriers that need to be overcome. “What technologies should we use”? “How can we integrate existing software”? These are common questions within retail companies contemplating change. Challenges are often found outside the company, just like within.

Getting suppliers and partners on the same page is essential to implementing actual omnichannel policies and processes. Getting customers to know about these new found benefits is just as important. Marketing and communication is essential when finally, companies are ready to roll-out omnichannel implementations.

This eBook provides a framework used to understand the causes, previous enablers and inhibitors for retail change as well as the practical steps in adapting to an omnichannel retail world.

Table of contents:

  • Executive summary
  • Market overview
  • Previous inhibitors
  • Enabling Technology
  • Mobile devices
  • Big Numbers and Big Data analytics
  • Omnichannel Building Blocks
  • Omnichannel retail facilities
  • Inventory consistency
  • Supply chain integration
  • Personalized retailing
  • Seamless commerce
  • Building a B&M store for the omnichannel future
  • Beyond the legacy POS
  • The store as a personal shopping hub
  • The store as a fulfillment hub
  • Supply chain management implications
  • Omnichannel Supply Chain
  • Implementing omnichannel retail
  • Stage 1: Boardroom buy-in
  • Stage 2: Executive Management adoption and coordination
  • Stage 3: Company wide adoption and implementation
  • Stage 4: Communicating change to customers, evaluation and improvement
  • Fastest growing omnichannel retailers
  • Trends shaping the future of retail
  • Mass customization
  • A need for improvement in the attribution model
  • Predictive personalization
  • Brick and Mortar retailers closing stores
  • Showrooming markets
  • Drop-shop / Pop-up Stores
  • Omnichannel retail in-sourcing
  • Conclusions

You will get a PDF (20MB) file.

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