K3 Revisit the Seven Deadly Sins of Multichannel Retailing

The majority of retailers are still missing out on many of the benefits of multichannel retailing, one year after a report by K3 Retail was released, which identified the ‘Seven Deadly Sins of Multichannel Retailing’.

 

K3 Retail’s 2012 whitepaper, ‘Seven Deadly Sins – Revisited’ says that retailers are challenged by today’s fast paced multichannel retail environment. As their customers demand better service across all channels, retailers are having to provide real-time stock availability, personalised shopping experiences and the option to buy anything, anywhere any time, via multiple devices. All this is adding to pressure on already stretched and under resourced retailers operating in a difficult economic climate.

 

These challenges are set to continue: predictions for 2014 show that almost every mobile will be a smartphone and be connected to the internet. Most merchants, the report concludes, believe they are in the multichannel world, but in reality they are still operating with their channels entrenched in silos with their mind-sets in a similar place and they don’t understand the changes involved in meeting the customer’s buying behaviour.

 

John Little, Sales Director, K3 Retail, said, “This year’s report sees many changes since 2011 and some elements highlighted have been taken onboard, even embraced, but worryingly far too much continues to be overlooked. The result is that the great benefits of multichannel are not being fully realised by retailers. Against this backdrop we have chosen to re-visit the Seven Deadly Sins to see where we are in 2012 and to look ahead in a decade of monumental change for the retail industry.”

2 Responses to “K3 Revisit the Seven Deadly Sins of Multichannel Retailing”

  1. Darragh Fanning, CEO Celtech says:

    Comment from Darragh Fanning, CEO of Celtech, in response to A1 Retail’s article K3 Revisit the Seven Deadly Sins of Multichannel Retailing
     
    “I would agree on the challenges facing the industry that silos just won’t work. The future is a seamless consistent and true real-time multichannel customer experience. The challenge for retailers is how to deliver it with their legacy systems. 
     
    “Ultimately the only way to deliver such an experience is by centralisation.  However, centralisation of multi-layered distributed systems is not the answer. All this accomplishes is to shift the problem and create a central house-of-cards nightmare that relies on complex and expensive technologies, such as server clustering or database synchronisation. It also requires specialist skills just to keep it moving and even then it does not deliver a full real-time view of the business and brings only limited benefits. 
     
    “Such an approach is the real cardinal sin of retail systems strategies.  The future of agile seamless multichannel systems is a single centralised database that is updated in true real-time by all participants, inside and outside of the business from any device, 24 hours a day. This simplifies everything and provides real agility to the business. With this as the goal, retailers can start a progressive transition to real-time with specifically designed systems and begin to enjoy tangible benefits at every stage.”

  2. Ian Patterson says:

    John Little’s a tit

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