Feature
Omnichannel Retailing
Envision the
Future
Redefining the physical store in an omnichannel world. Editor’s Note: The following are the findings of a broad-based study encompassing an industrywide retailer survey and interviews by Meridian-NorthStar Partners and Progressive Grocer; a similar supplier survey and interviews; a web-based survey of 1,000 shoppers across age groups by Carbonview Research, a division of Stagnito Business Information + Edgell Communications; a review of industry learning; and incorporation of “real-world” in-market experience.
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mnichannel trends have become the “burning platform” for our industry. Tese trends are having a major impact across channels, with recent headlines providing powerful examples: “Shoppers Flock to Online Merchants,” “Walmart to Close 269 Stores,” “Retailers Struggle.”
To win over the next fve years, suppliers and retailers must address signifcant, continuous changes in our business environment. Changes — including new shopper purchase/ delivery options, information sources, preferences for Millennials and others, and blurring of channels, including retail/e-tail — are redefning “requirements for success,” as noted by 91 percent of retailers and 95 percent of suppliers in an industry-wide study. Tis study, dubbed “Envision,” is uniquely designed to help navigate these changes, with a broad scope and key elements as follows: Total store focus, not just perimeter or selected departments All tactics, not just technology or other elements Physical/virtual recognition that shoppers operate in both worlds Actionability near and longer term, not just generalized or incomplete solutions Ongoing focus and current: Te study will be regularly updated to refect the continuous pace of change, with deep dives in key areas with future releases
Significant New Challenges Market changes are creating entirely new challenges and an unprecedented demand for new thinking and solutions.
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| Progressive Grocer | Ahead of What’s Next | March 2016