A multi-pronged marketing strategy can only be executed as fast as your slowest retail channel.
Do you know which channel is preventing your organization from moving as fast as it should be? For most retailers, it’s their brick-and-mortar stores whose merchandising processes and technologies have not been able to keep pace with new retail mediums.
In-store execution is critical to the success of any retail operation. Consider the AMR report, “Bridging the Merchandising and Store Operations Divide,” which highlights this issue.
Retailers know that:
• 85% of purchasing decisions are made at the shelf, therefore optimizing merchandising and promotional strategies are critical.
• Only 37% of retail merchandisers are confident in the ability of store operations to execute these strategies.
Retailers frequently coordinate merchandising execution across hundreds or thousands of unique stores-fronts using outdated processes and technologies that create waste and confusion. Because of this, there is a high level of non-compliance.
AMR reported that 89% and 75% of retailers are using the phone and fax, respectively, as their primary communication methods to stores.
The result is inaccurate in-store execution and merchandising, slow time to market and a broken marketing process. The incorporation of e-commerce into the retailers merchandising strategy has highlighted the inefficiencies of in-store marketing.
A retailer’s Web channel can launch campaigns with the click of a button and have complete visibility into what the consumer is viewing in order to provide customized offers based on the visitor’s past behavior.
Part 2 of The Multi-Channel Merchant will focus on creating a single platform for the merchandising process