A Vision for Multi Channel Retail

in 2010

by

Imtiaz Kaderbhoy

Overview– 3 Consumer Behaviour Trends– 3 Retail Industry Trends– 3 Online/ECommerce TrendsFocus Sessions1. What can established Multi Channel Retailers do to retain

competitive advantage when now "everyone is doing it“? 2. What are the most important things for retailers to get right

in the multi-channel world? 3. How can pure-play retailers such as Amazon compete in a

Multi-channel market? Summation

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What’s happening in the market?

Customer Behaviour Trends

1. Customers now have a voice

2. Social Commerce is the new consumer playground

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3. Consumers now expect choice and convenience

Retail Industry Trends

1. Credit Crunch

2. Mobile Channel is now integral

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3. Experience is Everything

On-Line and E-Commerce Trends

1. Immersive experience will be a key differentiator

2. Checkout Security and Flexible Delivery Options will continue to drive consumer

confidence

3. Vouchers, Discounts and Promotions will be a deciding factor in driving digital

sales.

Focus: 1

What can established Multi Channel Retailers do to retain

competitive advantage when now "everyone is doing it“?

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think before you act, create a clear vision

..to leverage Multi Channel and niche advantages

..to maximise return from every interaction with every customer

..to create a seamless internal management of resources and

customers

….is implementation

Focus: 2

What are the most important things for retailers to get right in the multi-

channel world?

What are the most important activities to follow

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prioritise the plan and deliver the benefit

1. Customer Engagement

Social Commerce is the new consumer playground

What are the benefits for Multi Channel Retailers?

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186,990 fans

Communication channels

Communication landscape has changed dramatically

Company to Consumer: Shut up and Listen

Image Source: BK Group

Web 2.0We’re in a 2-Way conversation

…that enables greater understanding of customers wants and needs

…that ensures a Multi Channel Retailer is positioned to maximise the potential of

its channels

2. Channels

Many channels to focus on

..but let’s focus on

The High Street today

1. Easy to access

2. Look, feel and try me on for size

3. I will always help and advise you

The High Street tomorrow

Information and rich experiences will drive in-store innovation

…experiences that will represent true cross channel retailing

…and create brand loyalty and competitive advantage over the pure

plays

..so

Focus: 3

How can pure-play retailers such as Amazon compete in a Multi-channel

market?

Play to your strengths

1. Online/E-Commerce2. Customer Centric3. Innovative Culture4. Technology/Data

..and then innovate into

1. New Channels to market and maybe

2. New Products3. New Customers

4. New Geographies 5. Acquisitions

..to create cross channel customer experiences throughout the entire

buying lifecycle.

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Summary

1. 2010 will continue to be very challenging times for retailers and customers

2. It is essential for retailers to engage with customers

3. Retailers need to start creating cross channel experiences

4. Be Agile and Innovate

thank you for readingany questions please contact

imtiaz@rayjconsulting.co.uk

http://multichannelworld.blogspot.com