Multi or Omni-Channel businesses tend to focus on one business unit most strongly. It is tempting and natural to focus on the unit that brings the highest turnover. However we see that many business opportunities are foreseen when doing so.
In fashion, we oftentimes see that sourcing is generally done for the stationary stores. It is assumed that the customers that buy online are the same ones as offline.
Yet we have come to believe that this is not necessarily the case. Next to that, the customer behavior is generally different between online and offline stores. It is generally important to develop a sourcing strategy that takes both businesses into consideration.
Omni-Channel data management is very difficult. Especially for businesses that have both brick and mortar stores as well as online webshops. The challenge is usually that customer and transactional data is not stored centrally. This can be due to the fact that the offline stores were there first and online followed just “recently”.
However, we have come to know that there is a lot of optimization potential for multi-channel businesses that combine the insights of both business units.
By using cross-functional sources of information, we are able to identify hidden potentials. These could range from short term sourcing quick wins to long term marketing budget allocation potentials. At the basis of it all are a variety of sources of information. The source of this data could be: transactional data, sourcing data as well as customer data. „How data cleansing will help your fashion retail business take the right decisions“ weiterlesen