March 21, 2013

Honest #Omnichannel Assessment From Internet Retailer

Give this little ditty from Jack Love at Internet Retailer a read.
Key Takeaways:
  • He cites growth rates, showing that e-commerce grows faster at pure plays than at retail brands.  I see this in my work, too.
  • Stock prices are tepid.
  • Comp store sales have to be lousy, and are then masked by e-commerce growth rates to report overall totals that sound impressive but truly aren't.  I see this in my work, too.
I've worked on more than 100 projects in the past six years.  When you force e-commerce (and now mobile/social) to be a slave to retail, you do get an omnichannel outcome.  And that's ok.  But you don't achieve the potential of e-commerce (and now mobile).

We need more people to speak the truth.  Just analyze the numbers, the proof is in the pudding.

And I know, most of you will think I'm wrong, here.  You'll quote something from Forrester or Gartner or, where 1,143 likely shoppers were surveyed and 43 executives were cited.  You'll show me how "everybody" is talking about omnichannel, so it has to be the right way for retailers to go.

You can help me.  Find non-survey research that shows how a business like Macy's, after subtracting the impact of merchandise strategy and marketing strategy, grew by 10% solely due to multichannel / omnichannel strategies.  Find this information, and I'll happily publish it here on this blog, and I will cite you as well.

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