Multi channel retailing is a hot topic these days, but do you know what this phrase means? Multi channel retailing is a specific type of retailing where businesses offer more than one way for consumers to buy products and services. In the past, businesses had just a few options for selling their goods like brick and mortar stores, phone sales and catalogs. But, with the rise of the Internet, things have changed and people can now use many more options to offer their products and but products if needed. For example, it’s really easy to create an eCommerce site and sell from your own store on the Internet or use online marketplaces like eBay or Amazon or even social media platforms like Facebook, Instagram, and Pinterest.
In order to understand this activity, it’s better to learn more about multi channel retailing advantages and disadvantages.
First and foremost, you should know that most people are using more than one channel to purchase goods. From time to time, people want to buy things from brick and mortar stores while in other cases they want to place orders online through their favorite social media network. In order to increase your sales and prevent losing your clients, you will have to be present on more than one channel. In addition, if you add a new channel to your list, you will definitely find new customers too. People don’t have time to be present on all the platforms and some people focus on specific websites.
With the help of multi channel retailing, you should be able to boost your sales. Some business owners have been able to double their sales in less than a year after expanding their business operations on a few different channels.
Of course, you should consider some potential disadvantages of multi selling retailing. The truth is that the advantages outnumber the disadvantages, but by getting familiar with these drawbacks you will be able to create the right strategy. For instance, you should consider additional shipping and service expenses. Business operations like this are getting more complex and complicated. You will have to handle more things at once. But, you can avoid all these things by choosing the best multi channel eCommerce platform. These platforms are equipped with all the necessary things you need to create and manage an eCommerce store on more than one channel.