A Profitero study showed Target’s online prices were 25% more expensive than Wal-Mart’s, which were just slightly more expensive than prices on Amazon.
The Internet changes many ways in which retailers operate. A panel discussion will look at some of the changes that retailers must be alert to.
The Internet changes many ways in which retailers operate. A panel discussion, The Internet’s impact in a multi-channel retailing environment, at the NRF Annual Convention and Expo will look at some of the changes that retailers must be alert to. “It has really affected how we do things, operationally and organizationally,” says Sally McKenzie, division vice president of interactive media for EddieBauer.com.
For instance, she says, a marketing person with a simple idea for a promotion that has worked in the past in the stores or the catalog may suddenly find the task is many times more complex because of the Internet. “There’s different information you need to communicate to the customer depending upon the channel, different ways of talking to the customer and different technologies that you’re using,” McKenzie says.
With Eddie Bauer operating a catalog a retail chain, McKenzie knows firsthand the changes that the Internet brings to multi-channel retailing. “Eddie Bauer has been multi-channel for some time,” she says. “But when the Internet came along, the whole dynamic of multi-channel changed.” The key to success: “You need good cross-functional teams to make sure execution is the same in all channels,” she says
The panel also will discuss whether the Internet channel needs to be profitable in a multi-channel environment and the importance of data mining so retailers can pay more attention to their best customers.
Stacy Rausch of McKinsey & Co. will moderate the panel that will take place on Monday, Jan. 14, 11:45 a.m. to 12:45 p.m. in Room 1E14