Future of Retail Stores for Omni Channel-myassignmenthelp.com

Question: Discuss about theFuture of Retail Stores for Omni Channel. Answer: Introduction In the present business scenario, retail stores will have to initiate various contemporary means in order to stay ahead in the competition. The key competitions of the contemporary retail stores are will the online marketplace. This due to the reason that, the taste and preference pattern of the customers are rapidly inclining towards the online shopping. Thus, it is important for the retail stores to enhance their online presence. Coles is one of the leading supermarkets in Australia having product portfolio for consumer goods. In the recent times, they have also opened their own online stores in order to enhance the customer convenience and to stay ahead in the competition. However there are various other means to initiate in order to secure the future of the retail stores. Importance of Omni channel marketing According to Piotrowicz and Cuthbertson (2014), Omni channel retailing is one of the most effective means of surviving in the present competitive retail scenario. This is due to the reason that, currently a major portion of the customers still prefer the offline retail markets over the online market. According to the authors, initiation of only the online market will therefore deprive the retail store in catering to this customer segments. One the other hand, online shopping is becoming a trend recently and it is covering more number of audiences and thus it is also important for the retail stores to have their online presence also. Thus, according to the authors, the future of the retail stores such as Coles is depending on how effectively they are maintaining their Omni channel retailing to cater to both customer segments. Initiation of innovation According to Aubrey and Judge (2012), using of internet should not only limit to the online marketplace only, rather the internet should be use in enhancing the innovation in the existing offline retail stores. According to the authors, initiation of online payment, credit payment and garnering the feedback from the customers through the use of online marketing techniques such as social media marketing will help to enhance the competitiveness of the retail stores. Thus, according to the authors, innovation is also one of the key aspects in securing the future of the retail stores. Recommendations Thus, in the case of Coles, they are already having their own online marketplace along with their retail stores. However, availability of their product in the third party online market place will further enhance the penetration of their online presence. Moreover, it will cater to more number of customers along with increase in the visibility of their products being available in their offline stores. Another recommended step should be initiation of online payment facilities and social media marketing in their offline stores (Rose et al. 2012). It will help them to enhance the convenience of their customers opting for their offline stores. Moreover, initiation of the social media marketing will further help to effectively determine the trend and requirement of the market along with identifying the feedback of their service and product delivery (Erdo?mu? and Cicek 2012). This will help them in modifying and enhancing the existing customer service. Reference Aubrey, C. and Judge, D., 2012. Re-imagine retail: Why store innovation is key to a brand's growth in the new normal, digitally-connected and transparent world. Journal of Brand Strategy, 1(1), pp.31-39. Erdo?mu?, ?.E. and Cicek, M., 2012. The impact of social media marketing on brand loyalty. Procedia-Social and Behavioral Sciences, 58, pp.1353-1360. Piotrowicz, W. and Cuthbertson, R., 2014. Introduction to the special issue information technology in retail: Toward omnichannel retailing. International Journal of Electronic Commerce, 18(4), pp.5-16. Rose, S., Clark, M., Samouel, P. and Hair, N., 2012. Online customer experience in e-retailing: an empirical model of antecedents and outcomes. Journal of Retailing, 88(2), pp.308-322.