How far are we from multichannel retailing?

Multichannel retailing refers to a system of reaching final customers in more than one way, especially going beyond, but not excluding the traditional brick-and-mortar stores. In a world dominated by far-flung technological revolution, global retailers are adopting new means to reach customers in better and efficient ways to maximize sales, profit, and ultimate customer satisfaction. Use of technology, especially online transactions, online and off-line catalog marketing, shopping channels etc. have opened up a new horizon of customer experiences.

In this backdrop of global developments, how far are we in Bangladesh in terms of reaping the benefits of multichannel retailing? While the adoption and use of multichannel retailing is praiseworthy in service sector, especially banks and financial institutions, the scenario is really bleak in consumer goods sector. While you can do almost any financial activity online, not to mention the impressive product called BKash or upcoming Prime Cash, it is almost a dreary idea to buy a book or an electronic item online in this country.

Two reasons may be attributed why we still prefer to personally step into a physically existing store for consumer goods transaction. First, there is a lack of trust in the whole system. Physically inspecting a product gives us more confidence that we would not be cheated online, because the shopkeeper might have packed a sub-standard product just to dump on us when purchased online. Second, the online payment system and physical transport infrastructure (particularly postal or courier service) is still very weak in our country. Even if we have confidence in the retailer, how do we securely pay online and where is the assurance that the postal service would be able to deliver it on time? Credit card frauds and online hacking are already sprawling in the system.

It seems that, we need to think about multichannel retailing for consumer goods as well. After all, we have a bright example of this application in the service sector already, don’t we?

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About 1mmarketing

Working as Associate Professor, School of Business, United International University, Bangladesh; a North-American graduate, with doctoral studies from UUM, Malaysia, cherishing a wide-view of the world, with multiple interests in culture, people, traveling, and specifically marketing science. I have a colorful and diversified background with a blend of corporate experience, research, consulting, training, public speaking and teaching. I love to write about marketing issues that affect our lives, and talk about its direction that would promote the greatest human welfare.
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3 Responses to How far are we from multichannel retailing?

  1. Anwar Hossain says:

    we are not far away from multichannel retailing.Though our Gov. say “Digital Bangladesh”,they need to be more concerned about digital system.Gov should open international online payment door like PayPal and make our postal system more reliable and more digitized.Then large company will come and connect them with multichannel retailing in our country.Thank you

  2. Ashik Ahmed says:

    This is true that without multichannel retailing we cannot reach to every level of consumer. Now-a -days, technological revolution is an automatic system that people have to adopt. So there is really a big opportunity for online market and transaction toward consumer goods producers.

  3. Pial Khan says:

    Well!!!!My first assumption is how ethically the business organizations are doing business during they selling their products through multichannel online shop and other medias. Now the concept come multichannel retailing which is the new era of selling products through online. consumers are preferring to buy the products according to their physical presence in terms of lack of trust. It is then overcome only when the marketers have a successful implementation of online shopping according to the trustworthiness of consumes. When we have a look on famous international online shop (amazon, e-bay etc) who are doing business globally with a successful combination of sales and trust on consumers mind. My question is how Bangladeshi companies are doing business when they performing the multichannel retailing business? It will be only successful when trust is first comes to an consumer’s mind.

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