RetailWire panelists commented recently on “top ten myths” pertaining to the success or failure of multi-channel retail. I zeroed in on the following:
Myth number 9 (“Online retailing cannibalizes sales from other channels”) is probably the most harmful to retailers’ development of true omnichannel strategies. As long as your retail business builds an artificial wall between your bricks-and-mortar business and your e-commerce business, you will not maximize either one. Macy’s and many other high-profile retailers have figured this out: They are enjoying synergies that are driving traffic to stores and websites as well as making their inventory more productive.