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Omni channel and Hybrid channel Retailing
- 1. JSPM’s Rajarshi Shahu College of Engineering Tathawade , Pune:33 Presentation on Topic: “Omni channel & Hybrid channel Retailing ” Concept, Advantages and Disadvantages Department of MBA Date: 10.04.2020 Presented By : Name of student: Bhushan Vijay Phirke Roll Number: 191415 Subject : Marketing Management (MBA-Sem II)
- 2. Omni Channel Retail vs Multi Channel Retail
- 3. Retailing • Defination: Retail is the sale of goods to end users, not for resale, but for use and consumption by the purchaser. • The retail price is always more than the wholesale price. • The retail supply chain consists of manufacturers, wholesalers, retailers, and the consumer (end user). • Types: Department stores, Grocery stores, Supermarkets, warehouse and Specialty retailers
- 4. Omni channel Retailing • Concept- Being available at any time anywhere, making it convenient for the customer. • It revolves around your customer and creates a single customer experience across your brand by unifying sales and marketing that accounts for the spillover between channels.
- 5. Multi channel Retailing • Concept- a marketing strategy that offers your customers a choice of ways to buy products. • It revolves around your product and lets customers engage and purchase natively wherever they shop but often treats channels as silos independent from one another. Each channel in a multichannel strategy exists as a separate purchase opportunity.
- 6. Similarities Omni channel retailing is the most advanced, evolved version of Multi channel retailing. 1. Multi channels exist simultaneously 2. Intended to make consumer shopping experience convenient 3. Omni channel retails contains same retail channels as Multi channel with some newer additions
- 7. Key Differences Multi channel Multi= many 1. Channels are soiled 2. Information across channels may be disjointed 3. Typical channel available such as Voice, Web, Mail and In store Omni channel Omni= all 1. Channels are fully integrated 2. Information connects seamlessly 3. Typical channel available such as Voice, Web, Social media and Mobile
- 8. Advantages • 1) An omni channel retail strategy improves the customer experience and provides more channels for customer purchase––whether it is on mobile, web, or in stores. • 2) Multi channel retailing improves the Improved customer perception. With multichannel distribution, brands can also differentiate themselves not by lower price but through convenience
- 9. Disadvantages • 1) Resources - Providing an omni channel experience requires IT investment and prowess, the right infrastructure and tech stack, and the vision necessary to integrate and execute. If you’ve built a headless commerce architecture, you may need a robust content management system to execute. If you have a traditional architecture, a product information management system may act as your tech backbone. Without an in-house IT staff, you may need to hire ecommerce technology experts.
- 10. Disadvantages • 2) Flexibility - A large part of making the transition to omni channel is about people and incentives. Resist incentives that reward maximizing sales in each channel regardless of the impact such objectives have on adjacent channels or the overall customer experience. Buy-in is also crucial.
- 11. Conclusion • The future of Omni channel and Multi channel retailing: The innovative and affordable technical solutions that allow brands to bridge the gap between the channels and allow consumers to script their own journeys with that brand. E-commerce platform providers will continue to innovate to provide in-store capabilities rather than simply online capabilities.