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It really comes down to the types of goods that would determine the success of retailers who mix online and in-store.
It’s interesting to note what types of retailers would fall somewhere in the middle and would benefit from a strong blend of in-store and online strategies. It really comes down to the types of goods that would determine the success of retailers who mix online and in-store. My thoughts on the kinds of goods that would be great for the mix are:
- Goods that are not commodities. If there are physical differentiators for a product set, then it becomes more important to have a physical store channel for consumers to validate a choice that they might make online.
- Goods that are actually physical. Music is essentially a virtual ‘product’. The distribution lends itself to a strictly electronic form. Books are another example of this class of virtual product.
- Fashion is a prime industry for an online and in-store mix. The goods are differentiated physically in terms of cut, material, and colors.
- Technical physical products are another category that benefit from an online and in-store presence - gear that requires good maneuverability or feels good in the hand.
Perhaps another way to think about it is - what kinds of products carry a higher risk of disappointing the customer if they only ever had exposure to it online?
Physical stores can offer consumers experiences that are difficult to replicate online.
Here are my top 3 tips for how retailers can remain competitive within the growing trends of E-commerce:
The future of retail is not deciding between physical or online but finding a way to bring the best of both experiences together.
Foot Locker has implemented endless aisle and drop ship concepts to pull together their omnichannel efforts. The article covered a lot of interesting trends that we’ve seen popping up all over the retail landscape.
View the Mo's Mobiles case study above.
Every day it becomes more challenging for retailers to deliver the best customer experience through seamless omnichannel strategies. They must integrate back-end and front-end processes while keeping a close watch on delivering consistency across channels. Winning strategies are focused around a centralized platform that can update data such as purchase history, inventory, POS and CRM in real time.
This white paper details the six key benefits to a centralized commerce platform, and includes case study examples of each tactic from Walgreens, Apple, Walmart, Amazon, Verizon and Warby Parker.
As TEAM Wireless began to grow, the company needed a more sophisticated way to manage the expanding business and handle increasingly complex inventory. What TEAM Wireless needed was a system that could grow with the company and, for TEAM Wireless, security was
the number-one priority.
On Sunday (July 26), the Financial Times' Andrea Felsted and Hannah Kuchler told the story of Clodagh Pickavance, a 23-year-old Briton (pictured above) who admits that a fear of being seen wearing the same outfit too often on Instagram motivates her to buy new outfits.
TechCrunch reported yesterday that Nordstrom is expanding its Trunk Club subscription clothing service to serve female customers.
We came across a couple articles today that outline e-commerce best practices. The first article, written by NYU Stern marketing professor (and L2 Founder & CEO) Scott Galloway, looks at e-commerce through the lens of "Amazon strategy." The second article (by Benjamin Spiegel, CEO of MMI Agency, which specializes in digital advertising) took a more generic approach. But the two cover a lot of the same points.
On Dec. 10, Apple and IBM launched the first apps of their new partnership: enterprise iOS apps for companies like Citi, Air Canada, Sprint and Banorte.
New stats from Teen Vogue show that in spite of growing e-commerce sales across the board, the mall is still central to millennials' Christmas shopping.