Retailers, adopt a multi-channel strategy to survive!

Retailers must adopt a “strategic” multi-channel approach to stay competitive in today’s marketplace, Hitachi Consulting UK has warned.

The business IT strategies and technology solutions provider recommended brands start with the customer to understand their channel preference to engage with the products or services offered alongside re-orienting operations to deliver this engagement.

All areas of the business – including buying, supply chain, merchandising, marketing, retail operations, IT and finance – will be affected when attempting to deliver a seamless customer experience, said the firm.

In terms of channels, Hitachi calls on brands to harness all available customer channels, such as email, telephone, catalogues, direct mail, advertising and social media, as well as improving the in-store customer experience, will provide trading capabilities to take retailing far beyond the traditional high street.

Chris Gates, director of retail at Hitachi Consulting UK, said: “Multi-channel retailing goes much further than the internet alone: it’s about forming meaningful relationships with customers in a way that will have a positive effect on the bottom line and generate greater customer loyalty.

“We strongly urge more retailers to adopt a multi-channel approach as it’s simply not enough to think that an online ordering service alone will enable businesses to maintain a competitive edge. Today’s consumers are highly discerning, demanding and media-savvy, and will therefore gravitate towards retailers that can offer an all-round multi-faceted shopping experience.”