UK: Retailers facing “U-Channel” revolution – report
Companies are contemplating a “U-channel” retail revolution and need to act now to adjust to the new, online- and mobile-driven environment, according to a new report.
“U-Channel Retail”, a new report from Arthur D Little (ADL), aims to give insights on the new retailing landscape, which it describes as “ubiquitous, universal and unique” and focuses on "U - the consumer".
The report argues that a future proofed U-channel offers more channels to interact, while seamlessly integrating them to ensure "one face to the customer".
Channels will become mere "touchpoints" as consumers navigate smoothly through the buying process; selecting products online at home, picking-up their products at a convenient location and paying from their mobile phone, the report said.
“The U-channel challenge is both a short- and long-term race,” said Francois-Joseph Van Audenhove, partner in ADL Benelux.
“This revolution will profoundly remodel the retailing landscape in the long run, but also requires taking appropriate measures today.
“Retailers must begin today to scope the field, understand the challenges at hand and set the directions for future developments.”
ADL identified seven key “domains” which it says retailers need to address, including culture, channel strategy, value offering and IT architecture.
The company pointed out that many bricks and mortar establishments were reluctant to embrace mobile technology, while e-tailers lacked a physical presence.
- Marks & Spencer to extend mobile phone monitoring
- China tightens on corporate social responsibility
- Outdoor industry's future must be more inclusive
- Factoring: a lifeline for apparel suppliers?
- Asos FY profit drop: What the analysts say
- Adidas "Reebok sale" would be admittance of defeat
- Cambodia clothing factory collapse injures eight
- H&M and The North Face commit to responsible down
- Bangladesh taps factory inspectors ahead of review
- Coats to open new zip factory in Bangladesh
- Ethiopia – the emerging textile and clothing industry
- Apparel Market in China to 2018 - Market Size, Trends, and Forecasts
- Global market review of denim and jeanswear – forecasts to 2020
- Wool in the 21st Century: new prospects for a familiar fibre
- Prospects for the Textile and Clothing Industry in Vietnam