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Fuel your retail multi-channel strategy with advanced analytics

MultiChannel & Analytics RetailCustomers have welcomed the concept of multichannel retail with open arms – the fact that nearly 50% of customers today are multi-channel purchasers tells us this. Why should retailers take note? Because the ones who’ve been successful in this space understand a couple of crucial aspects such as how their customers want to shop with them, and consistently take advantage of the opportunity of being able to present a single view of their brand, regardless of which touch point the customer is using to interact with them. Multi-channel retail also gives retailers more opportunities to present their products in front of customers whom they wouldn’t have been able to reach with a single channel.

The most important aspect of multi-channel retail, however, is that it is the gate-way to the concept of omni-channel retail. So what exactly is the difference between multi-channel and omni-channel? Like we mentioned above,
multi-channel means that your brand is present across key channels like brick-and-mortar stores, social media & mobile and still making sure that your brand can reach potential and existing customers on every channel does take a considerable amount of time, money and energy. Omni-channel retail takes this infrastructure to the next level: it links activities among offline shopping and the many digital channels so that a customer can begin an engagement on one channel and conclude the transaction on another. This is especially critical as shoppers are increasingly using a number of channels to complete their transactions, as a recent survey of US online shoppers done by PriceGrabber reveals, 45% of respondents said that they were choosing to combine online, brick-and-mortar and mobile shopping while just 12% said they shopped only in brick-and-mortar shops.

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Ajith Nayar
Ajith Nayar
Director of Marketing at Manthan
As a marketer, I’ve keenly watched the retail and consumer trends for a couple decades. But never has it been more exciting than now. Because everything we used to know about shopping is changing, and fast. As consumers, it’s great to be at the center of this technology-led evolution, becau
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e it’s unfolding in our everyday lives. I’m happy to share my views on related trends and issues. You’ll see me writing on the digitally empowered consumer, shopper behavior and marketing, consumerization of retail, internet of things, analytics technologies, cloud computing and digital marketing. Presently, I’m Director of Marketing at Manthan, a cloud analytics and big data solutions provider, focused on consumer industries. I’d love to hear and learn from your thoughts and experiences too, so please write to me at ajith.nayar@manthan.com. Google+ Profile
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