Is your retail revenue leaking too?

The following few paragraphs have been extracted from a March 2009 report by Deloitte on the rise and rise of multi-channel retailing. It does not happen often but I agree with every word they said, so I will repeat it verbatim:

Multi-channel retail means expanding the ways for customers to engage and trade with you. This goes beyond the store to include online delivery, mobile devices, phone, self-service kiosks and/or mail. Integrated multi-channel retail is about linking some or all of these channels to provide a consistent brand experience, contextual to each channel.

Multi-channel retail is attractive to customers because it provides improved choice and convenience and can therefore differentiate a retailer/

Australian retailers can find new sources of growth as well as a lower cost of doing business by taking a more holistic multi-channel approach.

The case for multi-channel retail is now overwhelming – technology is driving different customer behaviours and multi-channel sales are bucking the downturn trend.

Australia has lagged behind much of the developed world in adopting multi-channel retail capability and is suffering overseas revenue leakage as a result.

So, how are you going with your multi-channel strategy?

Do you still think it is optional?

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