Inventrak Blog

The retail cloud and Small and Mid sized business


Aug 12
2009

A Retail Trend: You can not afford not to know (1)

Posted by Donna Tang in retail cloud
Donna Tang

 

Some stores have begun to deliver a combined online and in store experience to their customers. These customers are not only enjoying convenience but also the accessibility to an expanded product line. The customer searches for products online then go to the physical store to make their final purchase decision; they return products purchased online at a physical store instead of shipping back.

Some retail giants use this ability to bring even more to their customers. Sears recently took advantage of kiosks to enhance their customers’ shopping experience. If a customer can not find what they want while walking around the store, they can go to the kiosk to search online and purchase the product (Sears will deliver this product for free), which said by Sears Holdings vice president Thomas Tisch differentiates themselves from their competitive market.

Small retailers who are beginning to build their own online business should consider incorporating this trend into their business model. Bring convenience to your customers, make shopping easier, and the result is satisfied customers who feel like they got more from their shopping experience.

Moreover, online stores and physical stores can be complementary parts to each other. Usually, yours physical store display is limited by the space. You can expand your product lines through an online store. Based on the best sellers at each store, adjust your product assortment at each location to maximize your profit.  


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I agree, the modern retailer has to think about mixing the channel. the Internet allows specialisation, to the benefit of the consumer. In the past my retail store only catered for the locality, so could only stock itmes that sold enough in my local rea. With the Internet, we can widen the range since we can now supply nationwide. By making the full online range available in store too, local consumers benefit.
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written by henrylow, December 16, 2009
1.Often we forget the little guy, the SMB, in our discussions of the comings and goings of the Internet marketing industry. Sure there are times like this when a report surfaces talking about their issues and concerns but, for the most part, we like to talk about big brands and how they do the Internet marketing thing well or not so well.

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We have seen it too.
written by Trampoline Man, August 17, 2009
We are also offering a combined experience. In our retail store we have put a sofa and a computer so customers can browse the web at the same time. It widens the product range, without increaseing display space or in store stock costs.

One issue we had was should we restrict access to our own website only. We decided to make the full web available, thinking it showed confidence that we could not be beaten on price.

There are issues with letting consumers have access to the web, but its under review.
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I Agree!
written by Michael Kromwyk, August 13, 2009
Donna
This trend is also increasing in Australia. I manage a sales distribution network that primarily sells insurance, subscriptions and travel. But in recent years I have developed a merchandise business that runs alongside the primary businesses. This is now $2m per year (& growing at +35% pa) with $9k online. I see the next avenue of growth to incorporate the long tail on the web site and offer buy online pick up instore. I'm also trying to integrate a POS online as well for real time stock locations and control.

I write about some of this at my blog http://newretailweb.wordpress.com/ and am looking for ways to optimise my site to close more sales of the other products as well.

Enjoyed your blog!
Cheers
Michael

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