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What is “Omnichannel” retail?

Posted by capital on January 19, 2018
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What is “Omnichannel” retail? Consumers now expect boundaries between physical and online stores to be removed. Retailers who are channel neutral  and sell things to consumers whenever and however they want will have higher revenues than a retailer who just thinks brick-and-mortar. Consumers will flee physical stores unless retailers incorporate an internet strategy along to gain and keep customers as noted in a recent WSJ article.  In a telling sign, Black Friday e-commerce sales increased 15.6% compared with 2013. If you don’t play online you are in trouble. Fornash, a retailer in the Ballston Common mall occupies 4,200 square feet but only 900 is for the public. The balance is used to fulfill online orders and handle calls from online inquiries. Read more at SCT – Shopping Centers Today Online | Facing the omniretail challenge.