Representatives from 100 of the UK’s top retailers yesterday voted overwhelmingly for a future that includes multi-channel retail strategies.
Go deeper with GlobalData
89% of retailers attending the Forrester Multi-Channel Retail Workshop at the Financial Times offices in London indicated that they would have a multi-channel strategy in place within the next year, while 75% recognised that product information management is “critical” to the development of their businesses.
The workshop was co-sponsored by IBM and enterprise software company Zygon. A survey carried out by Zygon suggested that 44% of retailers believe such a strategy will deliver customer retention and increased revenue. A fully automated, cross-department system with no human intervention will also reduce company costs.
Jaap Favier, Forrester Research Director and keynote speaker, told workshop delegates: “Retailers will have to implement and manage all channels, but there will be a company-wide return on investment. Companies should not expect single parts of their multi-channel operations to deliver returns: some channels will make money, others won’t.”
The retailers, which included Asda, Harrods and Marks and Spencer, identified several key challenges to overcome however, including consistency of production information and a lack of streamlining across channels.
Peter Landale, founder and CEO of Zygon, explained: “Most retailers recognise that they must give consumers the ability to buy through whichever channels they prefer and that product information is a critical requirement in a virtual marketplace. As the range of electronic channels increases, however, many companies are finding it difficult to integrate across multiple channels.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“By far the biggest problem is providing a consistent message through online and offline channels.”
