Danish Retail Chains: Are They Taking Advantage of Multi-channel Retail?

Looks like the Danish retail chains are not yet taking advantage of the multi-channel marketing. The advancement in technology has brought forth e-commerce into the picture and conducting business on the online platform has become interestingly very easy and convenient. Multi-channel retail offers a wide range of channels through which the products and services are made accessible to the public at large.

Multi-channel retail then refers to reaching out to the customers through cross channel integration in service, information and management in a systematized and consistent manner. The growth or success of the multi-channel retail totally depends in the hands of the consumer. Consumer of today is a more informed person and hence is capable of taking more informed decisions. Before making any big purchase, he is using a minimum of two to three channels while shopping. Another basic advantage that comes with multi-channel retail is that of the strategic competitive advantage that it has over the other retail outlets.

When the retail outlets can have these and many more other advantages like establishing consumer loyalty and brand images, it is an opportune moment for the Danish retail chains to go in for multi-channel retail. The main reason as to why multi-channel retail and e-commerce are recommended for Danish retail outlets is that they can benefit both from organizational perspective as well as customer related perspective.

As far as the retail outlet is concerned, they could garner more growth and revenue opportunities. There is an increased interaction with the customer and leads to a better customer loyalty through this interaction. Customers too have an advantage with multi-channel marketing as they can choose their channel according to their convenience.

Though there may be a few challenges when trying to switch over to the multi-channel retail system, the thought of going more open and accessible to the consumer at large is what makes the entire multi-channel marketing very appealing to the retail chains. Older the retail outlet, more challenges they are going to face for the transition and vice versa. Therefore, with multi-channel one requires to integrate the disparate systems and technologies that the change brings along with it.

Danish Retail Chains do not Take Advantage of Multi-channel Retail

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.