LESSON 3

Question 1

Benefits of multichannel retailing

Answer 1

Better revenue
More ways to buy from you
Collect valuable data on customer purchases
Cross channel service
Product availability
Integrated shopping experience
Organizing for multichannel retailing

Question 2

Types of Retail channel

Answer 2

Store
Catalog

Question 3

is the process of using multiple channels for selling similar products
across different platforms. The platforms maybe online and offline and the various channels may be brick and mortar store, online store, mobile store, mobile app store, etc.

Answer 3

Multichannel retailing

Question 4

a retail establishment selling items to the public.

Answer 4

Store

Question 5

a book with a list of all the goods that you can buy from a store.

Answer 5

Catalog

Question 6

means any Internet web site that markets or sells the products or services of travel suppliers to consumers.

Answer 6

Internet

Question 7

by spreading your business across multiple platforms, you could pop up more often into a prospective customer’s view and therefore receive more attention. This will give them the time needed to browse through your store, compare prices, and do their research which is necessary for them to buy from you eventually.

Answer 7

Better revenue

Question 8

So with multichannel retailing, you can offer your customers multiple ways to buy from you, from which they can select one based on their comfort and convenience. This will give you a competitive advantage over single channel businesses.

Answer 8

More ways to buy from you

Question 9

by doing this, you can tell which sales channels your customers seem to prefer and which ones they don’t, so that you know what specific parts of your business to work on and how to promote your business.

Answer 9

Collect valuable data on customer purchases

Question 10

is one in which customers can interact with your business across many channels including online, via mobile app and in-person in order to buy the products and services they need.

Answer 10

Integrated shopping experiences

Question 11

products should be available for purchase both online and offline.

Answer 11

Product availability

Question 12

the customer should also have a similar, positive experience.

Answer 12

Cross channel service

Question 13

price, brand image, merchandise assortment.

Answer 13

Organizing multichannel retailing

Question 14

The shopping experience of the future will be
personalized and technology-driven. Customers will be able to see items instantly, try them on and test them virtually, and have them customized to their exact preference

Answer 14

MULTICHANNEL SHOPPING IN THE FUTURE