When you run a Merchandise Forensics analysis (click here for the booklet), you learn that merchandise does not sell at the same rate across channels.
Each channel has a specific purpose. This purpose is not well understood by the omnichannel community.
Let's go way back to the late 1990s, at Eddie Bauer. If we were selling a shirt, we found that core sizes sold well in physical stores, while extended sizes (2XL, XLT) sold exceptionally well in catalogs and online.
Some in the omnichannel community demand that you sell the same merchandise in all channels - they tell you that the customer "demands" that you sell the same merchandise in all channels.
Others suggest that you use stores as digital distribution centers - when the 2XL size is not carried at the Northgate store in Seattle, you fulfill it from Bellevue Square.
Ignore the tactics and opinions. Follow the customer.
A well-done Merchandise Forensics project illustrates unique customer differences across channels. I routinely find that each business possesses unique behavior - behavior that is different than what you are taught when reading trade journals, research reports, different from what you learn at a conference. Merchandising data by channel tells you, rather clearly, what your channel-centric strategy should be.
Or contact me now (firstname.lastname@example.org) for your own, customized Merchandise Forensics project.
In football, pro teams liberally borrow from colleges, and colleges happily borrow from high schools. Read this article for details (clic...
Look at the first four rows of our life table (values of 0/1/2/3). These are the first 12-15 weeks after a customer buys for the firs...
If you don't like geeky math, please skip this post, because I am about to show you how the sausage is made! I have eight variables in...
You probably run Life Tables for your customer file, right? Right? They've been around forever ( click here for a reference f...