Keeping up with today's always-connected shopper can be difficult – it's time to embrace omni-channel retailing.
The retail industry is changing on a seemingly daily basis and at the core of this change is the customer. They are increasingly comfortable with technology making the retail landscape increasingly digital. Besides giving customers more control of their shopping experiences, this omni-present retail landscape enables shoppers to “channel-hop” throughout their shopping journeys as they browse, purchase and fulfill orders from the combination of channels that best suits their needs.
The traditional planning process is conceptually straightforward: identify what to sell, to whom to sell it, at what price to sell it and then ensure the product is where it needs to be on time. This is simple in concept, when applied to individual selling channels. However, with customers expecting a seamless experience across channels, it has become very complex to deliver customers the experience they expect while maintaining a healthy bottom line.
As retailers added channels, they often set up silos of planning and inventory for each channel. This worked well when most consumers shopped within specific channels. However, today’s shopper moves seamlessly between channels and expects flexible fulfilment options, like buy online and pick up in store. Retails must plan and manage inventory across all their channels in order to satisfy customer demand and meet their financial objectives.
However, rather than focus on how this challenge can be hurting their businesses, industry experts encourage retailers to face it head on and create an omni-channel experience that creates a competitive advantage. Fortunately, there are technology tools available today that enable intelligent omni-channel planning which incorporate consumer insights and trends, competitive information and real-time data. However, technology is only a part of the solution – to truly offer customers a seamless experience across all channels requires alignment of the organization and processes to support the technology solution.
JustEnough is helping many of the world’s leading brands to deliver the omni-channel experience customers expect and the bottom line results they deserve. Contact us to learn more.