Multi-Channel Retailing: Pros and Cons

//Multi-Channel Retailing: Pros and Cons

Multi-Channel RetailingOnce upon a time, going down to physical shop was a customer’s only option. Now, the smart phone is part and parcel of every day’s shopping mission. Along with the rapidly increasing online trade, businesses need to do some changes. This is because it influences the overall purchasing behavior of customers. Technology is key part, which can make it possible. Multi-channel retailing is a new virtual selling platform which enables businesses to offer multiple options to customers, and thus allows customers to interact more.

Why Multi-Channel Retailing Is Important?

Multi-channel retailing is a marketing concept that is evolving on continuous pace. An obvious benefit it offers is that customers get variety of ways to shop.  What today’s customer really wants is convenience. They want to accomplish things right at the moment. Multi-channel retailing offers plenty of benefits to customers as well as retailers. Few of them are:

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Top Multichannel Retailer Examples

Advantages

More Control over Buying Process

Through multi-channel retailing, you can predict future growth and analyze customer behavior. With this high tech system, you can get true picture of your business like- where your business stands in terms of sales.

More Sales

Multi-channel selling gives an obvious benefit of more sales as compare to your single store. The more stores you have, the more goods you’ll sell.

Multi- Channel Makes Easy To Sell Your Different Products

Multi-channel retailing also allows you deliver specific product to target audience. If your company sells more than one type of product, let’s say shoes and clothing. You can sell shoes on a marketplace that’s more popular for its shoes sales. The same approach will work for clothing items. Besides it, the added benefit is that, sellers can possibly reach out and offer remarkable customer experience to people located differently.

Disadvantages

Increased Expense

When you expand sales channels for your retail business, it means you raise your expense. While, traditional brick and mortar shops will only cost you rent and maintenance. On the other hand, different ecommerce platforms will ask you to pay the percentage fees associated with it.

Stock Control

To manage all your online stores and marketplaces like one store is a hard piece of business. The problem with selling through multiple channels is your sales orders are in different places which could trick to sell more stock than you actually have it.

Conclusion

Multi-channel retailing is nothing but a choice to interact with your customers across multiple channels. By deploying a multi-channel platform, you will know customer’s value, and allow you to succeed.

2018-04-24T12:51:34+00:00
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