A guide to developing and managing a well‐integrated multi‐channel retail strategy

Abstract

A well‐integrated multi‐channel format enables consumers to examine goods at one channel, buy them at another channel, and finally pick them up at a third channel. Multichannel retailing offers synergies, as it can result in an increased customer base, added revenue, and higher market share. Common characteristics of a well‐integrated retail strategy include: highly‐integrated promotions, product consistency across channels, an integrated information system that shares customer, pricing and inventory data across multiple channels, a process that enables store pick‐up for items purchased on the Web or through a catalog, and the search for multi‐channel opportunities with appropriate partners. This article provides a check‐list to enable a retailer to assess its readiness to undertake a multi‐channel strategy.