chapter 11

Chapter 11: The Future of Retail - Omni Channel

Video transcript

So I'm sure you've heard a lot about Omni-channel retailing and it might sound a little scary but in a nutshell, it's this: It's being everywhere that your customer is. If they're standing at line at the movies or they're at the restaurant or they're home in bed, they want to be able to shop from their iPhones or their SmartPhones or their internet. You have to be where they're available.

Some of it includes Facebook selling, mobile selling and of course website selling. The interesting thing about it is that a lot of retailers think that it cannibalizes their brick-and-mortar business bu tit doesn't. It actually enhances it. Having the consumer experience at retail is very different from online shopping but one really enhances the other. It's not an option in today's retail business to be without this Omni-channel presence.

I'd like to leave you with these last thoughts. There probably hasn't been a better time in the last couple of decades to open up your retail shop. With the technology of Omni-channel retailing where you can reach your customers 24 hours a day, 7 days a week in all parts of the world with the availability of wonderful retail space and new developments that don't like these closed boxes. They actually look like small lifestyle centers.

With the fact that the consumer is hungry for something new that's well crafted, that's interesting, that has the wow power, and the customer service that only an independent retailer can provide, there hasn't a better time in opening up your own store. 

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