Multichannel Retailing's Pros

1. Easy Entry Point

With the help of digital channels, you can quickly create multiple revenue streams without even opening a physical store. You can reach first-time buyers in established e-Marketplaces or geographies at low costs.

2. Better Data

The more e-channels you offer, the more opportunities you have to collect customer information and track their buying behaviour, which will reduce cart abandonment rates and encourage repeat purchases. Ensure you get detailed reports on how your customers buy from your e-stores on various e-Marketplaces. This data can be used to target customers more efficiently and optimise user experience across the different e-Marketplaces.

3. Larger Audience

Increasing your options for customers allow you to reach them more often. With multichannel retailing, customers can shop wherever and however they like, including on their preferred e-Marketplaces or channels. Customers can also check online reviews and social media posts to see how others rated their purchase experience. Customer testimonials and raving reviews can be very influential in attracting new customers.

4. Diversify Risk

Selling over multiple channels can reduce the risks of account suspensions, supply chain breakdowns, or algorithm changes at e-Marketplaces. A multichannel strategy means you are not reliant on a single platform that may change its rules at any time and negatively impact your e-business. Having your own e-Commerce site allows you to control your brand equity and promotional materials, like customised packaging.

Multichannel Retailing's Cons

1. Too many product lines and data points to handle

Changes in one channel do not affect the others since each channel is independent. Due to this inefficiency, stockouts occur, or customers have to wait for products they believed had already been delivered, damaging a brand's reputation and resulting in future business losses. If the fulfilment process can't scale with the exponential growth of the business, success will be short-lived.

Managing multiple product lines and data points across various channels can be difficult. Much effort has to be made to ensure that inventory updates and orders are processed correctly. Take advantage of our DSM Suite 2.0+ e-Marketplace - a fully integrated B2B e-Commerce platform that supports multiple e-Marketplaces, e-stores, languages, currencies, and millions of SKUs. Orders can be tracked, and stock accuracy is improved.

2. Increasing Expense Costs

Despite its long-term advantages, multichannel retailing can be expensive. New channels mean more setup, customisation, suppliers, warehouses, and fulfilment staff - as well as more shipping and advertising. Analyse your cost structure and see how you can optimise it. Don't minimise costs until they hurt production quality and customer satisfaction.

Final Thoughts

Choose multichannel retailing.

Multichannel retailing will be inevitable for you. If you are still selling via one channel, you should consider multichannel strategies because this will increase sales, brand awareness, and customer loyalty. Using multiple channels reduces your reliance on one that will lower your risks. Therefore, ensure your infrastructure is ready for increased sales by investing in expansion.

You will enjoy immense growth opportunities if you partner with the right service provider. Get a better start with Zooloo. Our team is happy to assist you with your journey towards digital transformation. Please contact us at sales@zooloo.asia.

• Find some tips on B2B Sales Strategies
• Looking closer at Marketing Strategies
• Read about The Digital Transformation Journey
• Learn more about our “Digital Backbones”

Tags: #CRM #MicrosoftDynamics #digitaltransformation #B2B #digitaladoption #digitalintegration #digitalsolutions #wholesaletradesector #wholesaletrade