Multi Channel Retailing Definition: Everything You Need to Know
What is multi channel retailing definition? How multichannel retailing works? What are the benefits of multi channel retailing? Read this article and discover everything you need to know!
Today, more than 85% of the online shoppers use at least two different channels when purchasing items online. There are two options – researching offline and purchasing online and researching online and purchasing offline.
Multi channel retailing is a term we use to explain the process of selling to customers through brick-and-mortar locations, direct-to-consumer telemarketing, and mail order catalogs, as well as, through online outlets such as social media platforms, ecommerce websites, marketplaces, and email marketing.
Multi-channel retailing places your product at the center of the multi-spoked circle where customers are never more than a click away from purchasing. What we are trying to say is that multi-channel ecommerce and retailing combine perfectly and they are the perfect solution you need when you want to attract more customers and increase the sales.
Now that you know more about multi channel retailing, let’s see how multi-channel retailing works exactly.
As we already said, this is quite a popular approach that blends the best of a different world. In other words, it puts the option to buy where customers already are. Online, you have marketplaces and websites and offline, you have brick-and-mortar stores.
One of the most popular social media platforms – Pinterest offers Buyable Pins which help online customers buy without leaving the website. Instagram, on the other side, jas native shopping, and Facebook Messenger has added new payments methods.
Multi channel retailing focuses on using the distinct distribution channels, compared to the omni-channel strategy. If you want to know how to automate campaigns, product drops, and high-demand sales, click here.
There should be a clear distinction, as the word marketing has become unified with advertising over the last couple of years and we all know that this wasn’t always the case.
Using a multi-channel retailing software has numerous benefits, benefits that make investing in this approach worthwhile:
- Improved customer perception – Today, people are watching Tv and they are using their smartphones at the same time. These people expect the same type of integration when shopping online and brands that don’t provide this type of shopping experience, are likely to lose customers.
- Increased sales – The main factor for a retailer adopting any kind of strategy is increasing profit and this can be done solely by increasing sales. The multi channel retailing approach gives you a chance to make your brand visible and attract new customers. It offers different engagement points for the online customers to make a purchase, maximize the sales, and boost the profit. An online customer who thinks about purchasing a pair of jeans, may not want to go to the mall, find a parking spot, walk to the store, and buy the pants. The better and most convenient way is to sit in the comfortable chair, go online, and order the jeans online. The customer can also use the smartphone, take photos of the jeans, send the jeans to a friend, and discuss whether or not he should purchase the jeans. Having different engagement points give merchants more tools to conclude a sale.
– Better data collection – Considering the fact that a customer is a key factor in a successful retailing, the multi channel retailing approach offers more opportunities to gather information about their customers. This will help you understand your customers and hopefully be able to meet their needs.
Multi channel retailing certainly gives customers a better and smoother shopping experience and retailers can learn how to attract new potential customers, make more sales, and more money in the long run.