The Future of Retail: Finding the multi-channel recipe
RETAILERS are finding that simply tacking on a website to their high street offering is not enough to succeed.
“Multi-channel” is the phrase that dominates discussions on the future of the sector and reflects a far more sophisticated approach.
John Temperley, retail specialist at Leeds Metropolitan University business school, says: “Any retailer that is forward looking would take a view that they need to make an offer that makes it easy for consumers to shop, whatever channel they choose.”
The prospects for the retail sector are considered in detail in a new free 19-page supplement, available to download here, from TheBusinessDesk.com in partnership with Deloitte and DWF.
For consumers, multi-channel means being able to deal with a store at their convenience, for example by being able to buy goods online and return them in store.
While for retailers, the multi-channel approach means looking at how they best use their online and physical space to generate sales.
[VIDEO: 525]Duncan Vaughan, retail expert at DWF in Leeds, says: “Retailers talk more about having stores that are destination or flagship locations.
“The benefit of having mixed use is that people are coming for the experience.”
“It’s adding virtual space to the high street, leading to a reduced need for physical space. In store, space is limited, but online there’s a limitless range,” adds Paul Feechan, partner in charge of consumer business, at Deloitte in Yorkshire.
“Research shows 30% of consumers would prefer to see everything in store, whilst 70% would rather see part of the range with the remainder accessible
online.”
Click here to read more in this series and to download our new supplement, The Future of Retail.
