Competing in the Age of Omnichannel Retailing

Question 1

How is technology changing the retail landscape?

Answer 1

Distinctions between physical and online retailing are vanishing, as a result of:
1. Location-based applications
2. Augmented reality

Question 2

Strategies for Omnichannel retailing

Answer 2

1. Provide attractive pricing and curated content.
2. Hardness the power of data and analytics.
3. Avoid direct price comparisons. Alternative options:
   - Offer distinctive features
   - Create exclusive products
   - Bundling products
4. Learn to sell niche products.
5. Emphasize product knowledge.
6. Establish switching costs.
7. Embrace competition