The next phase of retail in today's hyper-digitized world
Date September 2016
It is no secret that e-commerce has permanently altered the way many retailers do business. Technology has opened a vast universe of possibilities to retailers, from the desktop e-commerce of yesteryear to today’s mobile applications that enhance the in-store experience and deliver targeted marketing.
Opti-Channel Retail has emerged as the natural evolution of Omni-Channel techniques to optimize efficiency and sales. Retail is no longer relegated to store square footage, and savvy businesses have devoted their energy and investment to striking the right balance between brick and mortar stores and on-line channels. Today, more and more retailers are taking advantage of natural lease expirations and even preemptively closing underperforming stores and transitioning customers to alternate channels and formats to boost the bottom line.
Beyond the simple question of optimization, reconciling historical operating structures with emerging technology has become imperative to the retail industry and the primary differentiator between successful and underperforming businesses.
Below we outline the drivers of the Opti-Channel Retail phenomenon to provide context for a growing segment of our retail business that’s devoted to right-sizing operations and integrating technology to position businesses to thrive well into the future.
Sources: BWP Group, L2, Google Shopper Marketing Council, Pew Research, Internet Retailer, jeffbullas.com, GPShopper, Blurbridge, Cisco Consulting Services, PWC