In this new L2 video Head of Research Maureen Mullen takes on buzzwords Omnichannel and Multichannel Retail. Mullen said while e-commerce is a sizeable opportunity, digital influence is an even bigger one. By 2016, annual U.S. e-commerce sales are expected to reach $327 billion while sales influenced by digital are expected to grow to $1.6 trillion annually.
Coach is one of the best examples of Omnichannel Retail implementation. The brand made early investments in technology and integrated its e-commerce and in-store inventory. When consumers look at a wallet on the coach website, they can see the availability of all colors and sizes in different stores and opt to purchase then or pick up within 48 hours. After the brick-and-mortar purchase is completed (regardless of whether it was reserved online) a sales associate emails the customer highlighting their latest experience and encouraging them to revisit the store and fill out a user review. The customer is then enrolled in all Coach marketing emails, forming a loop.