Retailing: What's Working Online
There is no single approach to building a multichannel retail presence. Today's successful online retailers, depending on their underlying economics and whether or not they have physical stores, are pursuing fundamentally different strategies.
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Summary of 2005 Multichannel Executive Symposium
Having reached adolescence by 2002, the e-tail market has since matured into an $80 billion phenomenon and is poised for further explosive growth. As multichannel retailing comes of age, today's multichannel retailers confront a new set of challenges and opportunities. Critical topics for multichannel retailers center around keeping their propositions fresh, organizing multiple channels for optimal performance, building the bottom line through efficient operations and procurement, and coordinating activities across online, catalog, and retail channels.
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Getting Prices Right on the Web
Far from being a price destroyer, the Internet can bring new detail to pricing strategies, thus creating enormous value. But companies must act quickly and rethink their online policies before habit and customer expectations make change difficult if not disastrous.
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The E-tailer's Secret Weapon
Off-line retailing may be a mature, slow-growth business, but the online retail market is growing at double-digit rates. Nonetheless, these gains have yet to bring profits for most general retailers. The reason? Most of them are struggling to provide the depth of inventory and the rich and relevant online product information that customers expect on the World Wide Web. But help is at hand from category managers—wholesalers that merchandise and provide product information for on- and off-line inventories of a wide range of products.
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The Duel for the Doorstep
Online vendors must offer customers complete satisfaction or lose them to off-line rivals. Establishing efficient end-to-end fulfillment processes and capabilities is key to attracting and retaining customers.
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Organizing for CRM
Our research has shown that organization is a critical and often overlooked factor in helping multichannel retailers and companies in other industries better manage their customer relationships.
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Multichannel Marketing
B2C and B2B customers are increasingly using multiple channels for shopping and purchasing. McKinsey has identified four imperatives addressed by successful multichannel marketers to drive profitability.
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