E commerce has taken selling to a new altar. Danish retail chains are found to not take advantage of the multi-channel retail but in the long run this will prove to be a great revenue winner for the retail chain owners. Establishing partnership with a retail industry and following the multi channel retail procedures will bring in an increase in the number of sales. The main purpose of following the multi-channel retail is to tap the customer resource and get connected with them in all the possible routes so that there is no scope of missing out on a potential customer.
A retail outlet can establish well itself as a multi-channel enterprise by identifying the different routes to retail and following the multi channel marketing at all levels possible. A retail outlet can benefit from a multi-channel m-commerce (done through mobile), multi-channel call center, multi-channel kiosks, multi-channel POS, and e-commerce comprising a standard interface of customer relationship management, distribution, transportation, warehousing, ERP and others.
When a multi channel retail business is established, there is a link established at every step of this multi-channel and at multi location too wherein the link is established between sales, marketing, financials and inventories. There are in fact a lot of benefits that the multi-channel retail has to offer. Though there are enough benefits there are also equal numbers of challenges that come along with them.
As embedding a multi-channel retail will take some time and will also involve a technological shift too in way of functionality, one has to focus on the kind of investment they are going to make which will have a clear impact on the return on investment centered on multi-channeling.
But, all said and done, one main thing to keep in focus is that of the long term value which is bound to be higher and the competitive advantage which it will eventually bring in for the retail chain. When the Danish retail chains wish to develop their respective business cases, they will undoubtedly have to go in for the multi-channel marketing wherein the loyalty exhibited by the customers will also help in progressing further.