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Retail Management

Retail Management. Module 3: Multichannel Retail. Single Channel, Multi-Channel, and Omni-Channel Retailing. Describing Retailers and Channels. Parts of the product distribution channel: Logistics: assembly, warehousing, and transportation

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Retail Management

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  1. Retail Management Module 3: Multichannel Retail

  2. Single Channel, Multi-Channel, and Omni-Channel Retailing

  3. Describing Retailers and Channels Parts of the product distribution channel: • Logistics: assembly, warehousing, and transportation • Facilitation: channel coordination, marketing, promotion, financing, and post-purchase service and maintenance • Transaction buying and selling What are the four marketing channels? Why is it important to understand the activities and actors of each channel?

  4. Single Channel, Multi-Channel, and Omni-Channel Retailing • Single channel: Refers to a producer or retailer’s effort to reach customers through only one distribution option, regardless of whether it’s online, face-to-face selling or traditional retail. • Multi-channel: Refers to a producers or retailer’s effort to combine and blend different distribution channels to accommodate where and how consumers shop, ensuring that the producers and retailers will be present when the purchase decision is made. • Omni-channel: Marketing that is an expansion of the multi-channel concept by incorporating all the communication and interactions between customer, brand, and retailer, regardless of whether it’s at a point of purchase or not.

  5. Key Differences Between Single Channel, Multi-Channel, and Omni-Channel Retailing Think about your own shopping behavior. How do you prefer to shop? • (it’s most likely several ways!) Why would a retailer choose to engage in anything but multi-channel?

  6. Non-Store Retail Channels

  7. Retailers and Non-store Channel Types • Non-store retailing is the selling of goods and services outside the confines of a retail store, off the premises of fixed retail locations • Can be divided into direct selling and distance selling What does direct and distance selling look like?

  8. Comparison of Store, Catalog, and Internet Channels • Store • Higher costs because of things like rent, utilities, inventory, and staffing • Catalog • When they are effective they are high-involvement marketing materials • As e-commerce has grown, catalog sales have eroded • Costs of catalog: creation, photography, copy, design • Internet Channels • Costs are still present: transaction processing, electronic fund transfer, inventory management

  9. Electronic Retailing

  10. Role of the Web to Retailers • The overarching benefit of “e-tailing” is that it extends the reach of retailers to more consumers • What else does e-tail do?

  11. Advantages and Disadvantages of Electronic Retailing Advantages: • Consumers can be reached out of immediate market area • Retailer is more convenient • Maximizes retailers ability to fulfill orders • Provides a lot of information for the retailer Disadvantages: • Maintaining e-commerce infrastructure is very expensive • E-tailing does not provide the same social or emotional experience as in-store shopping does for the consumer • Shoppers are responsible for the return of incorrect purchases • Data breaches are always something to be wary of!

  12. Mobile Apps and Customer Interaction Apps vs. Internet Channels: • Apps have design constraints • Designed with an interface to support specific activity and functionality • Can be meaningful transaction tools • Average order value is greater on apps than traditional e-commerce • Conversion rates on apps are twice that of mobile websites

  13. Mobile Apps and Customer Interaction Apps have better engagement because they’re specifically designed for the needs of a mobile user to facilitate transactions • Leverage mapping technology • Tie-in social media • Store payment methods

  14. Challenges of Multichannel Retailers

  15. Multichannel Factors to Consider Factors to consider: • Pricing • Promotion • Analytics • Technology How could these factors play a part in planning a trip to Disney World?

  16. Customer Impressions and the Seamless Experience Questions to ask to test exactly how seamless your experience is: • Are there specific activities that require transition from one channel to another? • Is the experience optimized for the specific channel interface? • Are there systematic roadblocks, which prevent shoppers from completing transactions or discourage them from using the tools in the future?

  17. Data to Support the Multi-channel Shopping Experience How to multi-channel retailers track data to measure the effectiveness of their shopping experience?

  18. Quick Review • What are the three types of retail channels? • Single Channel • Multi-Channel • Omni-Channel • How are they similar? How are they different? • Role of the web to retailers • Advantages and disadvantages • Multichannel factors to consider: • Price • Promotion • Analytics • Technology

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