Vikas Goel

Vikas Goel

GM, Consumer Goods and Retail, o9 Solutions, Inc.
Mr. Goel has over 20 years of professional experience working with some of the world’s largest retailers in areas of merchandising, planning, assortment, supply-chain and inventory management. He has led large transformation initiatives involving business process, technology and change management at companies like Walmart, Gap, Target, Nestle, and Pepsi.

Mr. Goel has a MS from The Ohio State University, Columbus, OH and a BS from Indian Institute of Technology (IIT), Delhi, India.
Vikas Goel

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The “most common” definition of Omni-channel retailing is enabling customers to shop and return merchandise across any of the channels (stores, e-commerce, catalog, mobile). Catalog and mobile channels being a relatively small portion of the sales for most retailers, it effectively reduces the problem to store and e-commerce.

A lot of retailers have been doing “multi-channel” retailing for decades. Two things changed:

  1. Rise in e-commerce spending leading to a larger share of revenue from e-commerce.
  2. Consumers shopping behavior – Earlier there was a belief that the consumer who shops in a store is different from the consumer who shops online. This belief has been invalidated. There is consensus that the same consumer shops across channels and they expect a more seamless shopping experience.

In summary, a lot of retailers have been operating multiple channels for the last two decades. However, they have been operating in silos internally as well as customer facing. Omni-channel requires a retailer to eliminate the silos from a customer experience perspective as well as internal operations. To put a marketing phrase around it: “One customer, One inventory, One price, One Experience”.

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Is Omni-Channel the Silver Bullet?

 

 

 

 

 

 

 

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