With increased customer base and inadequate communication facility, conventional marketing has taken a set back today. When you think of expanding sales of your business, it is important you diversify your retail outlet to as many locations as you can. This is to increase easy accessibility, customer interaction and strengthen future relationship. Multichannel e-commerce solution is making all these possible. And, you don’t need to set up any physical store or operate it from multi-locations to avail such marketing solutions.
Before we understand what Multichannel e-commerce solution and Multichannel retail is all about, let’s explain these terms retailing, e-commerce, Multichannel etc in short.
Retailing: Selling of good or merchandise from a fixed place like departmental store, boutique, kiosk or by parcels. Retailers are the individuals who purchase goods direct from manufacturers or importers in bulk or through wholesalers and then sell smaller volume to the buyers.
E-commerce: E-commerce or E-business is the buying-selling affair of product and services over electronic system (Internet and other computer networks). Modern e-commerce applications include a gamut of solutions – Internet marketing, supply chain management, electronic fund transfer, online transaction processing, EDI, inventory management etc.
E-commerce can be conducted both in B2B and B2C format. B2B e-commerce is applied to parties interested in commodity exchange. B2C e-commerce solution is conducted by companies like Amazon.com, e Bay.com etc. They act as intermediaries for product manufacturers cum sellers. Through their interface sellers can connect their business solutions to consumers and conclude transactions.
Multichannel: This refers to the purchasing passageway for customers. This can be different marketing channels like website, retail store, mail order catalogs, direct mail, and emails to reach out to the customers.
Multi-channel marketing: This refers to cross channelling sales through different media. The objective is to offer customers much convenience as they can check the product availability, features, quality parameters, variety, and price comparison through e-commerce website before driving down to the brick and mortar store.
It also helps the sellers to understand what type of information and facilities customers are expecting. Multichannel marketing process is really interesting. The retailer will issue a mail order catalogue with coupon which has to be redeemed at company’s brick and mortal store. This coupon offer will drive traffics to the retail store and increase the sales.
Once you are well equipped with the basic terms, come to the strategy and execution phase of it- Multichannel e-commerce solution.
Multichannel e-commerce solution:
Single integrated platforms that enable your business expand through various other e-commerce stores, multiple websites, tele-shopping, wholesale, e-Bay, Amazon and other franchise channels.
Ebay Integration and Amazon tie ups have made this online store concept more convincible and accessible to customers. They get a handful number of products of different brand, category, pricing, product reviews, all with entrusted payment gateways.
Therefore every small or enterprise business has started tapping the potential and diversifying their selling venues. Right from managing the product inventory to preparing product catalogue, promotions, pricings and delivery structure every minutes can be administered through this e-commerce solution.
This article is written by Daniel Smith a multichannel retail solution provider. She is also involved with Drop shipping solutions. As per her idea http://www.ritecart.co.uk/ a e-commerce solution providing company is doing great with their service profiles.