There’s more than one way in which we can describe multi channel retailing. However, the simplest way to do this is to think of it as a form of retailing where businesses are offering their products and/or services on different sales channels. So, if you own a physical store and this is the only place where buyers can purchase your products, then you are not involved in multi channel retailing. However, if you are offering your products on a website and in a physical store then this is multi channel retailing.
If you want to stay among the top businesses in your industry, you have to adopt this approach. The good thing is that the Internet had made it a lot easier to get involved in something like this. The main difference is that small, medium-sized and large businesses can practice multi channel retailing. Although this approach sounds fantastic, you should know that you can experience some potential downsides too. To make things more understandable, we have created a short list of multi channel retailing advantages and disadvantages.
We will start with the advantages because they are outnumbering the disadvantages. The most important advantage is that you will give potential buyers a chance to select the place where they want to buy a product or service. In most cases, multi channel retailing practitioners are showcasing their offer on their websites, on online marketplaces like eBay and Amazon, comparison websites and even on social media networks like Instagram, Facebook, Pinterest, and Twitter.
When you have a chance to use other online marketplaces like eBay or Amazon, you will reach more clients. It’s very likely that a lot of people will miss your website, but these established online marketplaces have thousands of daily visitors. Finally, with multi channel retailing you will improve customer experience and in return you can expect more sales.
The biggest downside here is that you will have problems keeping everything under control. More channels and more sales will make the process of running an online business complex. But, if you find the right eCommerce platform with multi channel capabilities, you should be able to fix this problem. You will also have to take care of the shipping process which may mean additional expenses. Once again, a reliable multi channel eCommerce platform like Shopify for example should help you.
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— Innovative Trends (@Inno_Trends) 14 de enero de 2019