This article is brought to you by Retail Technology Review: Successful omnichannel retailing guide launches to help bricks and mortar retailers rise to the online challenge.
FACT-Finder, an ecommerce specialist serving some of Europe's leading retail chains, has published an "Omnichannel Playbook", written by Founder and CEO Carsten Kraus.
To help bricks-and-mortar retailers rise to the online challenge, ecommerce business FACT-Finder has published an e-book detailing five key steps to blending digital and physical sales channels most effectively.
The Omnichannel Playbook - 5 Steps to Digitally Linked Retailing states that the "future belongs to those who combine online and offline sales channels". However, the author, FACT-Finder Founder and CEO Carsten Kraus, says simply setting up an online shop won't be enough to increase market share.
"Such goals are seldom attained if the online shop is operated independently from the actual stores as part of a multichannel strategy," he says. "This is because the intense price competition online creates a dilemma for multichannel retailers: online prices cannot be offered cost effectively in branches, because of the costs incurred by personnel and prime location. If the retailer does not take part in the price competition, customers buy from the online competition. However, if the retailer offers products in its online shop at a better price than in branches, then branch purchasers are driven online."
The key to success, according to Kraus, is to offer customers real additional value in terms of their shopping comfort and experience.
"Retailers should, therefore, link their online and offline worlds, and realise an omnichannel strategy that clearly differentiates them from the competition. This can give bricks-and-mortar retailers major advantages over those purely selling online."
FACT-Finder's e-book offers five important tips to help retailers pursue the right omnichannel strategy to put them in a strong position in the marketplace by getting the most from their physical location, strong brand and already loyal following.
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