Omnichannel ‘is key for retailers’
bdlive.co.za - Feb 13th 2015, 09:57
Redesigning "omnichannel" supply chain had to be a priority for consumer goods companies and retailers for them to remain relevant to the consumer and their shareholders, an EY/ Consumer Goods Forum survey said.
Omnichannel is meant to engage customers and encourage a sale, whether a consumer is in a retailer’s store or using a tablet computer, phone, or PC. The online shopping segment in SA is small and largely focused on the non-food market, but a growing number of consumers are turning to the internet to browse and shop.
"Getting to know your consumer and striking the right balance between agility and efficiency is at the heart of omnichannel but this is not an overnight process and could require an overhaul of everything from corporate structures to IT systems," said Derek Engelbrecht, retail & consumer products sector Leader at EY.
Retailers such as Foschini Group, Mr Price, and Woolworths have omnichannel strategies, highlighting the growing trend towards capturing online trade in a bid to grow market share.
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