The goal is to sell anything, anywhere, on any platform, with advanced personalization. Customers expect it, and retailers know that the roadmap is key. The starting point can be anywhere – because where you begin is less important than having an end-to-end vision:
The ability to transact with any payment methodThe ability to use any fulfillment methodEfficient, mobile-based inventory managementMobile store fulfillment capabilities
The roadmap begins with the end-goal in mind: a single cloud-based view of inventory across the network, a single view of the customer across all selling channels and the transactional capability to bring those things together in purpose-built manner for both call center and store associates.
Dave Cherry's insight:
These are three critical "foundational steps"...
2. Transportation Management
3. Distribution Center
...however, retailers must also address mobile/digital, customer experience, analytics/insights and more to have a robust omni-channel experience. These foundational capabilities are critical, but won't be effective without additional strategy and execution.
Mobile commerce continues to grow at a prolific rate and has become a top boardroom topic. Why? The sheer growth opportunity that mobile e-commerce has to offer. In fact, when it comes to customer touch points, mobile traffic is starting to exceed desktop traffic. This year alone, global sales on mobile devices are expected to grow to over $280 billion (from $150B in 2014.)Due to limitations in mobile web, many companies are seizing the opportunity by developing native mobile shopping apps. Companies across all industries are coming out with native shopping apps to create a more social a
There is an African proverb, “If you want to go fast, go alone. If you want to go far, go together.” Most large companies excel at going far and going together. But these days every company has to go fast. Is it possible to be both bigger and faster?
Remember the old adage that “retail follows the rooftops”? If you do, then you probably have fond memories of the Eisenhower administration. Maybe it’s time to adopt a new mantra. Namely, that retail follows the population and the population follows jobs and new technology.
Dave Cherry's insight:
"Will the cheap leases signed during the recession, now coming to an end, throw a lot of excess real estate into the market?
With that as a guide, we should be looking at two major factors that are already having an enormous impact on store development:
Migration of younger consumers (Millennials) to urban areas in top tier as well as secondary and tertiary cities.Channel migration in which omnichannel and e-commerce initiatives, including mobile, are cannibalizing in-store sales and more than making up for any reductions in physical square footage."
Beacons are taking the world of mobile by storm. They are low-powered radio transmitters that can send signals to smartphones that enter their immediate vicinity, via Bluetooth Low Energy technology. In the months and years to come, we’ll see beaconing applied in all kinds of valuable ways.
For marketers in particular, beacons are important because they allow more precise targeting of customers in a locale. A customer approaching a jewelry counter in a department store, for example, can receive a message from a battery-powered beacon installed there, offering information or a promotion that relates specifically to merchandise displayed there. In a different department of the same store, another beacon transmits a different message.
Before beacons, marketers could use geofencing technology, so that a message, advertisement, or coupon could be sent to consumers when they were within a certain range of a geofenced area, such as within a one-block radius of a store. However, that technology typically relies on GPS tracking, which only works well outside the store. With beaconing, marketers can lead and direct customers to specific areas and products within a store or mall....
In 2014, DICK’S Sporting Goods realized the bottom-line impact of omnichannel strategies.
The sporting goods retailer’s e-Commerce business reached 14.4% of total sales in Q4 2014, up more than 2% from Q4 2013. Executives also found that e-Commerce sales increase by up to 50% in a local market when a brick-and-mortar store was present. This leads to increased sales, since omnichannel customers typically spend three-times more on average than those who just visit DICK’S Sporting Goods stores.
In its second year, the Retail Innovator Awards is honoring 27 retail executives who are innovative thinkers and business strategists. Awards were presented during a luncheon ceremony at The Yale Club in New York City today, June 16, 2015.
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