Great article by Steve Bishop on the nature of omnichannel – Here’s what he concludes
- The online revolution is equated to the ecommerce revolution. That doesn’t deal with the broader and equally important issues related to the range of digital connectivity.
- The “hybrid” approach to shopping changes the role of the physical store, and the internet relaxes some of the barriers that have traditionally constrained shoppers (like distance and access to price comparison information).
- All this is playing out in a market where there’s already too much physical retail capacity, i.e., too many square feet of selling area.
- Traditional vocabulary, words like “buying,” limit how retailers think through their omnichannel strategies. For example, the function of buying can now be broken down and separated into component parts that are done at different times.
- The fact that most sales will be done in-store for the foreseeable future distracts some retailers from the need to make changes to deal with the connected shopper. Part of the problem is that retailers don’t really see how shopping behavior is changing and this is causing them to miss the bigger picture.