{"id":13988,"date":"2021-01-13T09:00:02","date_gmt":"2021-01-13T09:00:02","guid":{"rendered":"\/gb\/en\/blog\/?p=13988"},"modified":"2023-01-17T10:25:16","modified_gmt":"2023-01-17T10:25:16","slug":"the-guide-to-multi-channel-retail","status":"publish","type":"post","link":"\/gb\/en\/blog\/the-guide-to-multi-channel-retail\/","title":{"rendered":"The Guide to Multi-Channel Retail (and Why it Matters)"},"content":{"rendered":"

Gone are the days when retail existed only in a store on the high street. People are shopping less in person these days. More than that, though, people want options to shop in a variety of ways. And they might use any or all of the available options in each purchase.<\/span><\/p>\n

Customers today expect to be served by a business across a <\/span>wide range of channels<\/span><\/a>. Those channels extend from traditional shopfronts at physical stores to the myriad of digital offerings, including eCommerce platforms, social media, and more.<\/span><\/p>\n

Not only is the adoption of a multi-channel strategy good for consumers, but it\u2019s also good for businesses. In fact, customers who shop online and install were found to be worth more to a business. That translates to <\/span>10% more per visits online and 4% instore<\/span><\/a>, compared to single-channel shoppers. Therefore, it is in a business\u2019s best interest to investigate multiple avenues.<\/span><\/p>\n

More channels mean more opportunities, and that\u2019s the case for consumers and retailers alike. There are so many websites out there, and so many digital retail platforms. This shouldn\u2019t be overwhelming, but it does mean that there are lots of options available. An online presence has become vital for any retail business.\u00a0<\/span><\/p>\n

Retailers now find themselves competing for customer attention through different channels. Connecting with once-loyal customers has become increasingly difficult. That is unless businesses are prepared to adapt their communication and product offerings consistently.\u00a0<\/span><\/p>\n

Retailers need to work on engaging consumers naturally both on and offline. This is where multi-channel retail becomes incredibly important.<\/span><\/p>\n

What is Multi-Channel Retail?\u00a0<\/strong><\/h2>\n

Multichannel retailing is a concept that is always evolving. Essentially, it refers to offering customers different platforms on which to purchase products. It may refer to businesses having a brick and mortar store and an online store<\/a>. It often refers to multiple online outlets and channels, and these days there are a lot of different options.<\/span><\/p>\n

Regardless of the avenues, the fundamental principle of multi-channel shopping remains the same. It involves using multiple channels to maximise revenue, by offering customers greater choice. Customers can then engage with your business in the most convenient method for them.<\/span><\/p>\n

\"multi-channel-buyers-journey\"<\/p>\n

Source: <\/span>BigCommerce<\/span><\/a><\/p>\n

The multi-channel opportunity for retailers is one that comprises giving consumers choice and options. You let them decide where, what, and how they engage with your business and products to make a purchase. It gives customers the option to experience your brand in the most convenient way for them.<\/span><\/p>\n

Retail might be the most competitive element of global commerce and eCommerce. The adage of staying in your own lane is becoming less relevant. These days, you need to be across multiple lanes. Multichannel retailers are those best positioned to face the future.<\/span><\/p>\n

Retailers who engage in price comparison and effective competitor monitoring campaigns have an advantage. They are strategically placed on developing strategies that boost sales and increase margins. To do this, you need to be in the game, ready to cover multiple offline and online channels to get and keep those customers.<\/span><\/p>\n