Every entrepreneur launches a business with the aim of making profits. Also, profit growth and increase in sales is a burning desire in many entrepreneur’s hearts. No one loves facing challenges or undergoing hard and painful moments in trying to drive sales. However, this is not always the case. As you expand your business to many channels, you encounter a range of challenges that may slow down your growth desires or cripple your business forever – if unchecked.
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Hence, to succeed in multichannel retailing business, being aware of these challenges can enhance your strategy development, planning, and decision making. Here are the top three challenges you will likely encounter as a multichannel retailer:
Ensuring a consistent brand messaging across the channels
Developing consistent brand message across your channels is one of the most significant challenges you will face in your multichannel business. Unlike your online store where you control every aspect of your brand message, selling in other channels opens you to rules and policies that restrict what you can post or list as well as how you will promote your products.
Each channel has its set of policies that you must comply with if you stay longer in it. Hence, it becomes hard for you to deliver your desired brand message and to ensure it is consistent across the channels. However, if you have to make sales, you must ensure the uniformity of your brand message. This poses a challenge to many multichannel retailers.
Overselling and overstocking
Without prior preparation in inventory management, the challenges of overselling or overstocking will be part of your daily issues. Different channels will display varying inventory information. For instance, customer shopping through Facebook might find that products they are looking for are out of stock. At the same time, your eBay may be showing few products are remaining. This might be contrary to the real sense where you may be dealing with overstocking in your warehouse.
Hence, you must be ready to invest in multichannel inventory management software and systems to harness your inventories information. Otherwise, cases of overstocking and overselling might ruin your business.
Unsatisfactory customer support and experience
While handling different channels, it becomes hard to provide reliable customer support. Noting that each channel is designed to offer a given kind of customer experience. If you do not hire the right professionals, achieving this goal can be a hard task. Thus, you must find a way of understanding the customer’s worries and pains to offer them the best value across the multiple channels.
— angela cornejo n (@angelacor1) 29 de mayo de 2014