Retail Management Module 3: Multichannel Retail

Transcript:Retail Management Module 3: Multichannel Retail:
Retail Management Module 3: Multichannel Retail Single Channel, Multi-Channel, and Omni-Channel Retailing Learning Outcomes: Single Channel, Multi-Channel, and Omni-Channel Retailing 3.1 Compare and contrast single channel, multi-channel, and omnichannel retailing 3.1.1 Define single channel, multi-channel, and omnichannel retailing 3.1.2 Match descriptions of retailers with single, multi, or omni-channel retailing 3.1.3 Explain the main difference between multi-channel and omnichannel retailing Activity Not only do consumers have the same expectations of accessibility and consistency for retailers, but they may have elevated expectations around service regardless of whether it’s online or offline. Specifically, they may also expect that retailers will accept orders online, complementing and copying in-store service while adding delivery. What are some factors that manufacturers and retailers must manage with their retails channels going forward? Describing Retailers and Channels Parts of the product distribution channel: Logistics: assembly, warehousing, and transportation Facilitation: channel coordination, marketing, promotion, financing, and post-purchase service and maintenance Transaction buying and selling What are the four marketing channels? Why is it important to understand the activities and actors of each channel? Practice Questions 1 and 2 What are the four marketing channels? Why is it important to understand the activities and actors of each channel? Understanding Single Channel, Multi-Channel, and Omni-Channel Retailing Single channel: Refers to a producer or retailer’s effort to reach customers through only one distribution option, regardless of whether it’s online, face-to-face selling or traditional retail. Multi-channel: Refers to a producers or retailer’s effort to combine and blend different distribution channels to accommodate where and how consumers shop, ensuring that the producers and retailers will be present when the purchase decision is made. Omni-channel: Marketing that is an expansion of the multi-channel concept by incorporating all the communication and interactions between customer, brand, and retailer, regardless of whether it’s at a point of purchase or not. Practice Questions 3 and 4 Think about your own shopping behavior. How do you prefer to shop? Why would a retailer choose to engage in anything but multi-channel? Non-Store Retail Channels Learning Outcomes: Non-Store Retail Channels 3.2 Describe a wide variety of non-store retail channels 3.2.1 Match a retailer description with its non-store channel type 3.2.2 Compare and contrast the benefits of store, catalog, and internet channels Retailers and Non-store Channel Types Non-store retailing is the selling of goods and services outside the confines of a retail store, off the premises of fixed retail locations May be divided into