Here’s one of the best articles I have read detailing the need for traditional retailers to evolve to an omni channel retailing future. This quote:
“Yet the historical vagaries of how companies have applied technology to the customer relationship has meant that solutions have long been channel-centric, instead of customer-centric. While the majority of companies certainly do have modern call centers, social media marketing plans, e-mail campaigns, a mobile app strategy, an SEO policy, and so on, they are frequently unsynchronized and siloed.”
summarizes quite nicely the issues most traditional retailers face as well the solution which is better integration between sales channels so that they complement one another in more effectively serving their customers.
Amazon is more than content to use retailers struggles here to continue to develop and hone its advantage. And Amazon’s move to same day delivery amps up the pressure on all retailers. eBay is also moving aggressively as well. Amazon and eBay both are effectively flipping the bird to all traditional retailers and daring them to keep up. And neither has any plans to slow their pace.
While Walmart, Best Buy, Target and others are finally starting to shows signs of life, is it too little too late? Who, if anyone, can slow Amazon’s and eBay’s march towards retail domination? And can a traditional retailer(s) stand up to them, and if so, who? While its still early in the game, online sales are still only ~5.5% of all retail sales, traditional retailers need to stop ceding ground here and start more effectively managing cross channel interactions with their customers.