An industry trade journal partnered with an omnichannel vendor to rank 100 publicly traded retailers on their ability to deliver against seven key omnichannel tactics.
The index yielded perfect scores (100) and horrible scores (0).
The article suggests that the customer "demands" an omnichannel experience ... strongly suggesting that a omnichannel brilliance is critical to compete against Amazon.
The article did not correlate omnichannel brilliance with sales growth, profit growth, or stock price.
So I correlated the index with stock price.
For the retailers who are not privately held ... I calculated change in stock price year-over-year ... this borders the timeframe when the study was conducted (Q4-2016 and Q1-2017). If omnichannel brilliance led to sales gains and profit gains, then we might at least be able to surmise that stock prices increased and the significant investment in omnichannel strategy yields increases in shareholder value. Right?
Ready for the graph?
There is essentially no relationship between the omnichannel index and change in stock price, year-over-year. None.
The goal here, of course, is to get you to focus on what matters most.
- Merchandise Productivity.
- Customer Acquisition.
- Customer Service / Customer Satisfaction / Entertainment.
We have Trade Journalists and Vendors who are demanding that you execute tactics/strategies that generate money for their businesses.
Your shareholders are demanding that you execute tactics/strategies that generate money for them ... allowing you to keep your job and potentially earn raises/promotions.
Please focus on the latter.