How can a retailer future-proof its multichannel strategy?

In the digital age, retailers are placing budgets behind online and mobile assets in order to succeed in an increasingly multichannel environment.

In order to cater to the increasing number of ‘always-on’ consumers, there are a number of steps retailers should take to create a multichannel strategy fit for the future, according to David Clements, global capability managing director at customer science company Dunnhumby.

“The direction of travel in our industry means it’s only going to become more important to gain insight into different data sources – what are people buying, browsing and saying, in which channels, and how these things interact. Understanding how visits to the website might be driving in-store purchases, for instance, will be vital.”

This insight into these multiple data points should never result in focusing on channels at the expense of the customer, Clements explains. “Click-and-collect is an example of a channel that might not appear particularly profitable when viewed in isolation but, for many retailers, a multichannel shopper is significantly more valuable than a single-channel shopper.

“With ever more consumers choosing to shop this way, a holistic understanding of the customer is vital to determining which channels to invest in.”

Realising the significant value of these multichannel consumers means removing any barriers to the way they are choosing to shop.

“If customers want to return a product they bought online to a physical store, it is important that retailers are able to process this. All channels must be understood, joined up and catered for to meet the needs of a valuable and growing multichannel market,” says Clements.