Multichannel Sales, the Future of Retailing
Study by IESE Prof. José Luis Nueno
Recessionary woes, coupled with the rise of e-commerce, have seen the demise of many traditional businesses, as the growing number of vacant, shuttered shops on the streets of many European cities attests.
In Spain, retail sales have dropped by 22 percent over the past four years. Conversely, during the first half of 2012, e-commerce registered sales of more than 5 billion euros.
Solving the problems of the retail sector involves implementing a multichannel strategy that integrates online, mobile and social channels, while at the same time reinventing physical stores, which remain cornerstones of the sector.
Consumer behavior is evolving in a fast and unpredictable manner. Consumers are leading and shaping multichannel commerce, with retailers trying to adapt their strategies accordingly. The major trends are as follows.