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10 Cards in this Set
- Front
- Back
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Define retail channel |
A retail channel is the way a retailer sells and delivers merchandise and services to its customers. The most common channel used by retailers is a store. |
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Define multichannel retailing |
Multichannel retailing involves using more than one channel to sell and deliver merchandise and services to consumers. Note the term omniretailing frequently used when discussing multichannel retailing. |
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U.S. retail sales by channel order? (6) |
(1) store 89.8% (2) internet 4.7% (3) catalog 3.1% (4) direct selling 0.9% (5) TV home shopping 0.5% (6) automatic 0.9% |
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Why are retailers using multiple channels to interact with customers? (2) - store - kiosk - catalog - call center - web/e-mail - mobile |
(1) Customers want what they want, when they want it
(2) Customers want new ways to engage with retailers |
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Why are store-based retailers evolving into multichannel retailers? |
(1) Sales through an electronic channel are growing at over 20% per year
(2) Multichannel retailers can attract more customers and satisfy existing customers better (3) The growth of sales in stores is declining |
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Unique benefits provided by store channel (7) |
(1) Browsing
(2) Touching and feeling (3) Personal service (4) Cash payment (5) Entertainment and social interaction (6) Immediate gratification (7) Risk reduction |
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Benefits provided by catalog channel (3) |
(1) Convenience (2) Information (3) Safety |
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What's the big deal about shopping on the internet? (5) |
(1) Almost 75% of U.S. consumers use the Internet to search for information about clothes, shoes, toys, and health and beauty products before they buy an item.
(2) 83% of customers search online before buying electronics, computers, books, music or movies. (3) Internet channels allow retailers to offer a great assortment of products and provide more information to customers. (4) The Internet allows retailers to collect information about consumer shopping habits. (5) The Internet allows the retailer to enter new markets economically. |
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Internet channel (4) |
(1) Deeper and broader selection
(2) More tools for evaluating merchandise (3) Personalization •Information is tailored to individual consumers to help them make quicker and better purchase decisions •Customized information -- side by side comparisons •Virtualtry on (4) Information for solving problems, not just merchandise characteristics •Virtual Communities |
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Mobile internet shopping (6) |
Mobile:
(1) Portable (2) Location sensitive (3) Push notifications (4) Touch screen (5) Smaller screen size (6) Apps |
