Single Channel Retail Sales Are Dead

Traditionally Retail industries have been using multiple channels for sales but for most part, they have run these best IPTV for Android TV independent of each other or in complete isolation. For most of these retailers, their e-commerce customer is completely unknown when he walks into their Store.

Over the recent years, Sales trend have been showing that sales growth for multi-channel retailer have been substantially higher than single sales channel retailer. Retailers have started to acknowledge this trend and are getting keener to know on how to build an integrated multi-channel experience for their Customers and thereby have an increased Customer Loyalty & Sales.

To understand multi-channel retailing and some of its key aspects, I spoke to Retail multi-channel industry experts from Palindrome Software Labs; the results of which were quite interesting and eye-opening.

Create An Organization Wide Integrated Data Backbone

Trend of information assimilation across the entire organization is here to stay and possibly will continue to evolve. Gained from experience of recent difficult economy, Retailers have realized the need to have the information gathered, shared and utilised across the whole organization. They also realize that for this to happen, many of their current day organization wide practices, operational processes and behaviors have to be either changed or be completely replaced with new set of processes.

Information assimilation starts by creating and having an Organization Wide Single Integrated Data Backbone. “The mantra of cross-channel is to have an integrated data backbone such that the data is always current and available to be used by its employees, customers and processes both within & outside the organization” says Mahesh Hiremath, UK Regional Sales Director at Palindrome Software Labs, a cross-channel e-commerce solutions provider. “Many retailers are finding cross-channel/cross-process integration very challenging but at the same time are also getting keen to find ways to make it possible.”

It is quite clear that to compete in an ever changing retail landscape, retailers have a need to have a software infrastructure & environment to build and maintain an organization wide shared information infrastructure.

“Key to Multichannel sales & merchandise is to gather organization wide data and to make it available for people & processes both within and outside the organization in a structured and in a usable manner to be consumed and to be broken down into meaningful information for their business” explains Andrew Mcgill, Sales Director at Palindrome Software Labs, a Multichannel software solution provider.

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