“Think like the customer” is good advice to any retailer. I was struck by the ways this guidance from Accenture on adapting to a multichannel world played out in what U.K. supermarket chain Morrisons has to say about what they call their “fit for the future” strategy.
The first thing that most people think when they hear “multichannel” or “omnichannel” retailing is brick-and-mortar retailers adding ecommerce capabilities. And for good reason: empirically it has become clear that consumers who interact with a brand in more than one way become better customers. But as the Morrisons story illustrates, “thinking like the customer” in order to build a strategy for digital transformation that strengthens a company’s overall competitive position is richer and more interesting than simply imitating what others have done.
Since the beginning of retail, store location has been a key ingredient for success. Forward-thinking retailers are now considering ‘location’ online as consumers move beyond the browser, increasingly spending time on their mobile phones, iPads, game consoles and other devices.
Last week Dana Mattioli of the Wall Street Journal wrote an article on “Retailers Ring Up New Sales on Smartphones” on highlighting the significance of a mobile strategy to the new world of retail. Hal Lawton, president of homedepot.com, expects 30-40% of their traffic to come from mobile devices by 2014. Retailers like HomeDepot are going to...