There's a good lesson here on new ways to use stores to drive business across channels.
Nothing is fair in love, war or retail. Amazon and large retailers are deploying technology that makes it impossible for many retailers to compete. To survive, tomorrow is "day one" to find something to differentiate value.
In this post, we tackle the successful strategies of some of the world’s top retailers and offer actionable tips that you can apply in your own business.
Why this is important: On the surface, omnichannel sounds like a panacea to bolster sales. But, some channels are far more costly than stores. CFOs face new challenges of balancing sales versus the increasing cost burden of omnichannel.
Omnichannel is not cheap. It creates additional layers of infrastructure and costs to sell products through to the end customer. One of most challenging and costly is the "last mile" of delivery.
The paradox was that even though the focus of the conference was on technology retail, the innovations were less about applying technology to retail, and much more about how to engage today's omnichannel consumer.
Why this is important: In order to survive and thrive, retailers are transforming to omnichannel. That will require new capabilities from distributors to in order to meet consumer expectations of more product choice and delivery on their terms.
Profits seem to hiding in plain sight - even in the Gulf. To find them, management has to heed the call for tough actions during tough times. At times like these, businesses have to embrace decisions based on hard facts, and take actions grounded in reality.