Five Characteristics of the Successful Multichannel Merchandiser
As with any endeavor, certain merchandisers seem to excel in the multichannel market. While they may operate in different spaces, those who are most successful share certain characteristics:
1. They recognize the uniqueness of each channel. Take these differences into consideration at every stage of planning and marketing.
2. They plan, plan and plan some more. Planning is critical, from the overall company business plan to individual plans for each channel to integrating channel plans so they make sense.
3. They review plans regularly. Conditions can change. A periodic review of plans against actual performance will ensure you’re aware of the implications of changing conditions and can respond accordingly.
4. They consolidate purchasing across channels. This creates greater purchasing power, often resulting in better pricing from vendors, cost-savings in shipping and transportation, and greater efficiency in consolidating inventory and warehouse operations.
5. They create a consistent user experience across all channels. Building a strong brand across channels — from the look and feel of each channel, to product offerings, to the ease of shopping — results in greater loyalty among customers.