11 - Omnichannel Flashcards
retail vs wholesale
retail - direct channel (straight to consumer)
- sell out
wholesale - indirect channel (intermediaries buy and resell products before it reaches consumers)
- sell in
most brands are a mix of both (ex: Nike)
activities that relate distribution + retailing
distribution strategy
distribution policies (retail identity + activities)
store level strategies
distribution strategy
plan of action defining tactics for entry in new markets in terms of positioning, channels, partners + retail formats
- direct channel
- wholesale channel
- transnational channel
direct (retail) channels
flagship store
self standing
shop-in-shop (department store, separate area)
indirect (wholesale) channels
corner (department store, not a separate area)
wall unit
open sale
transnational channels
e-commerce
- brand website
- e-tailers
travel related
- airlines + railway stations
- duty free
roles + responsibilities of store manager
secure sales target
deliver superior customer experience
fluent in product knowledge
ensure store reflects current visual direction
recruit, train + develop team
daily store operations
analyze sales + KPIs
current trends
- most fashion brands have become retailers
- stores have become tourist destinations
- brands sell an experience rather than product
showrooming
research in store but buy online at better prices
reverse showrooming
omnichannel experience
reinforcing + reinventing the offline experience through digital
- customer centricity is key
- goal: seamless experience
customer journey
marketing levers and tools that “contact and touch” the customers before, during and after the purchase
CRM
practices, strategies and technologies used to manage + analyze customer interactions and data
- improve relationship
- customer retention
- sales growth
roles + responsibilities of CRM manager
manage databases
analyze data
set up KPIs + monitor them
manager customer service issues
train sales staff to deliver ideal customer experience
reasons to become retailers
transmit coherent identity of brand in store
know final customer better
increase profitability
