The paper "Competing in the Age of Omnichannel Retailing" is a good example of a business case study. Advances in mobile computing and the Internet are some of the recent technological advances that have had a huge impact on the retail industry. Mobile computing and the Internet have revolutionized the retail industry by changing how retailers interact with customers, as well as how people shop today. Brown et al. (2014) reveal that, unlike in the past, where people relied on the bricks and mortar shopping platform, presently, there is a growing trend towards Omnichannel retailing that is increasingly becoming common.
In the article, Competing in the Age of Omnichannel Retailing, Erik Brynjolfsson, Yu Hu and Mohammad S. Rahman reveal that Omnichannel retailing is a buzz in today’ s retail industry. They note that omnichannel retailing is increasingly becoming a retail operating model facilitating retail service delivery and customer engagement operations that augment offline and online channels. Pawar and Sarmah (2015, p. 101) note that, at the moment, Omnichannel retailing is still young but the model is projected to be more advanced.
Despite the many opportunities that come with the adoption of Omnichannel as a retail model, its adoption is also characterized by challenges that a retail chain must address to ensure success. This critical review is based on the MITSloan Management Review, Competing in the Age of Omnichannel Retailing with a focus on the Omnichannel retailing enabling technologies, opportunities and challenges, and success strategies for Omnichannel retailing. Overview of Omnichannel Retailing In the article, Competing in the Age of Omnichannel Retailing, Brynjolfsson et al. (2013, p. 22) notes that Omnichannel is increasingly becoming a popular retailing operation model.
The authors reveal that Omnichannel is increasingly become adopted as a retailing model by most large retail chains. Although this is still a young business model, the authors project that retailing chains are recognizing that the only way to remain competitive is to adopt Omnichannel retailing as a business model because it is a concept that most customers have embraced. Omnichannel retailing is a business model that involves providing shopping experience, anytime and anywhere. According to Brynjolfsson et al. (2013, p. 22), as consumers move between physical and digital channels, the differences between in-store and online shopping become minimal and that reaching out to target customers in a market through all possible shopping points becomes very critical.
This view is supported by Kit Yarrow, a Marketing Professor at Golden State University who argues that when businesses look at the world through the consumer’ s eyes, it is then that businesses make better marketing decisions (Mehra 201). The professor proceeds to state that shoppers no longer look at the world through the lens of in-store versus online shopping. Instead, the two are currently integrated into the minds of consumers (Mehra 201).
This is indicated by the fact that shoppers throughout the globe are no longer limited to just a single channel, thus the need for retailers to integrate various operations and this is made possible through Omnichannel. Gajanan and Basuroy (2007, p. 6) state that most executives at traditional retailers no longer try to attract customers to their brands using a multi-channel approach. Instead, most retails currently adopt Omnichannel retail operation approach to luring customers to their brands.
Shoppers Stop, Spencer, Future Group and Croma are just a few examples of retailers that have adopted Omnichannel retailing through the integration of in-stores and websites (Neslin et al. 2006, p. 96; Sauter 2016, p. 31).
Bell R.D., Gallino S., & Moreno S. (2014). How to win in an Omni-channel world. MIT Sloan Management Review, vol. 56, no. 1, pp. 1-12.
Brown M., Moriarty, M., & Mendonza-Pena A 2014, on solid ground: brick and mortar is the foundation for Omni-channel retailing, viewed 11 October 2016 http://www.atkearney.com/documents/10192/4683364/On+Solid+Ground.pdf/f96d82ce-e40c-450d-97bb-884b017f4cd7
Brynjolfsson, B., Hu, Y. J., & Rahman, M. S 2013, “Competing in the age of omnichannel retailing,” MIT Sloan Management Review, vol. 54, no. 4, pp. 22-29.
Gajanan, S., & Basuroy, S 2007, “Multi-channel retailing and its implications on consumer shopping behaviour,” Journal of Shopping Centre Research, vol. 14, no. 2, pp. 1-28.
Mehra, G 2012, Omni-channel retailing: If you build it, they will shop, Deloitte, WSJ, May 17, 2012, viewed 11 October 2016 http://deloitte.wsj.com/cio/2012/05/17/omnichannel-retailing-supporting-multiple-consumer-touchpoints/
Neslin, S. A., & Shankar, V 2009, “Key issues in multi-channel customer management: Current knowledge and future directions,” Journal of Interactive Marketing, vol. 23, pp. 70-81.
Neslin, S. A., Grewal, D., Leghorn, R., Shankar, V., Teerling, M. L., Thomas, J. S., Verhoef, P. C 2006, “Challenges and opportunities in multichannel management,” Journal of Service Research vol. 9, no. 2, pp. 95-113.
Pawar, S., & Sarmah, T 2015, “Omni-channel retailing: The Opulent Blend moving towards a customer driven approach,” International Refereed Research Journal, vol. VI, no. 3, pp. 101-110.
Sauter, C 2016, Omni-channel retailing and its requirements in the supply chain. GRIN Verlag, Berlin.
Westenberg E., Popat B., & Stine J 2012, The operational implications of omnichannel retailing. CISCO, viewed 11 October 2016 https://www.cisco.com/web/about/ac79/docs/retail/Omnichannel-Retail-POV.pdf