Our take: The fundamentals of retail have always been about getting the right product to the right place at the right time... | ---------
People talk about retail reinventing itself, but if we’re honest with ourselves, the key elements are the same today as they have always been.
Call the state of retail today “omnichannel” or call it “unified commerce,” but it’s still “retail.”
The challenge is figuring out how to get valuable inventory closer to where the customer needs it to be, but before solving for that equation, what steps should a retailer take?
Prior to moving into a unified commerce environment, there are a number of items for retailers to consider in order to be successful.
It’s more than just best-laid plans; it’s about changing the way inventory is positioned and how resources are allocated.
No One Knows Your Business Like You Do
There is not one prescriptive strategy for omnichannel success. Wouldn’t that be nice? An approach to efficiency across channels will vary from retailer to retailer, depending on the business model, so it’s important you have a good understanding of your inner mechanics.
Let’s start first by considering how products are sourced through the supply chain. I’ll use the examples of...
thumbnail courtesy of retailtouchpoints.com