Multichannel commerce is a current trend – be it a combination of brick and mortar with ecommerce or several online stores. However, multichannel commerce involves special features, which set a framework and certain requirements to activities. How can multichannel commerce be made smooth and effortless to both employees and customers?
Critical points of multichannel commerce – identify four typical challenges
When business is carried out in more than one channel, efficient data transfer is increasingly important. If your business includes both an online and a brick and mortar store, to run it smoothly, comprehensive integrations between the systems are necessary. Automatic data transfer also makes employees’ work easier and saves time for more productive work instead of manual data management.
Typical challenges in multichannel commerce are related specifically to inadequate data transfer. Below, I discuss in more detail the four common pitfalls that retailers face in multichannel commerce, and how to avoid these.
1. Real-time product balances and uniform prices
Real-time and correct product balances and prices in different sales channels are a significant factor influencing the customer's buying experience. If product balances are not synchronized between the online store and brick and mortar in real time, it is possible that one of the channels sells products that are no longer in stock. Alternatively, the customer may come to the physical store after having checked the availability of items online to simply realize that none are available in reality. The buying experience also suffers if the products are found online with a different price compared to that on the store shelf.
2. Launching new products
On the launch day, new products should be found in both the online store and the brick and mortar. However, different sales channels require different information – in addition to the name, barcode and price, the online store needs image material and high-quality product information. This must be taken into account when defining the launching schedule to make sure that products are available at the same time in all channels. If products are taken to several online stores, a Product Information Management (PIM) system supports effective information management between different sales channels.
3. Inadequate system integrations
The brick and mortar and online store can use different systems, in which case integrations play a significant role from the perspective of smoothly flowing work. If there are no integrations between systems or they do not work in real time, this causes unnecessary manual work and delays. Instead, real-time integrations enable seamless work regardless of the channel, since information is always up-to-date and reliable.
4. Reporting and manual work
Multichannel commerce requires more versatile reporting. For example, if the cashier system is not connected to the ERP system, but it is necessary to separately report the sales of ERP and the brick and mortar store, this is an unnecessary bother. Not to speak of the increasing risk of human error when working with separate Excel spreadsheets and manual data transfer! When integrations and data transfer are in order and work in real time, reporting is smoothly done without unnecessary routine work.
An Enterprise Resource Planning system designed for multichannel commerce streamlines daily work
Modern systems do not only help the retailer's or employees’ daily work, but also directly influence the customer’s buying experience. Therefore, to streamline processes, it is advisable to select an ERP system designed for multichannel commerce, which will make life easier not only for your employees but also to your customers.
Multichannel commerce requires first of all scalability from the systems. When your business grows and changes shape, your systems should grow along in an agile manner. At best, systems open up completely new possibilities for multichannel commerce and allow for agile testing. For example, would you like to build a popup? Are you planning to participate in a trade fair and need a new point of sale? Or would you like to open a new online store targeted to the international market?
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