While a few years ago retailers were setting up webshops largely because everybody was doing it, now more are focused on genuine multichannel strategies for growth. This is the outcome of a study by PwC Canada Retail Consulting Services, which surveyed 21 CEOs of speciality and department retail chains in Canada and the US.
Multichannel is now a reality for the majority, who are aiming to put the difficult times of the recession behind them and focus on future growth. Implementing an e-commerce strategy is an essential part of any cross-channel retail operation, still involving a minority of overall sales but by far the fastest-growing sector.
As well as providing a means by which existing customers may order goods for home delivery, e-commerce puts retailers in touch with a potentially enormous global market, linked by social networking platforms such as Facebook.
52% of retailers surveyed do not currently have an international presence but 24% expect a significant shift in this direction. Every CEO interviewed agreed that integration across many channels and platforms was a key concept in their growth strategy.