It seems we've been talking about omnichannel selling for a long time now. Maybe it's only been the last 5 years or so that the topic has risen to the level of certified buzzword, but for the majority of consumers who shop online, it's been a very long 5 years... and even at that, has yet to deliver on their expectations.
The Christmas season delivery schedule is one of those things that while it only happens once each year, can put a dent in the reputation of the supply chain everywhere. When UPS underestimated the volume of packages that it would need to deliver on the last day before Christmas, these packages left sitting in the sorting facility on Christmas day put frowns on the faces of entire families.
We've heard about and talked about the challenges that surround omnichannel markets. Many companies are struggling with understanding the concepts, and that's understandable because it affects nearly every company whether retailer, supplier, or manufacturer, and it creates potential competitors at multiple levels of the supply chain.
Omnichannel is all around us and consumers are taking advantage of at least a part of it. At the same time they are being frustrated by the lack of integration between the increasing number of shopping tools they have at their disposal. The gap between identifying what they want to buy in the online world and making that purchase in a store is cavernous. So what does the normal consumer do? They buy online.
Retail store sales transactions are tiny snippets of data that capture the details of customer transactions. It's a simple concept. But the magnitude of the information that can be pulled and extrapolated from those transactions make them one of the most intriguing sources of data in the retail world.