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Chapter 3 - Retail's Catch 24-7

The online onslaught is obliging the retail industry to redefine itself: service, delivery, customer and supplier relations, infrastructure and distribution systems and all the attitudes and assumptions that mould retail culture are under review. But the tactical response is fraught with catch-22 conundrums, typified by the "catch-24/7". Online shopping is available twenty-four hours a day, seven days a week and this forces retail equivalents to be similarly accessible to the consumer. The catch is that retailers won’t survive if they don’t keep up with the demands of catch-24/7 but, at the same time, they’ll be ruined trying to achieve them. And then, the more stores that open twenty-four hours a day, the more people will need to shop twenty-four hours a day: catch-24/7!

3 of the 15 topics covered in Chapter 3…

There are seven main reasons behind retailer resistance to making an online transistion. They’re catch-22s because they define the very nature of retail culture: - The fear of destroying distribution networks - Failure to analyze online potential - Unwillingness to cut into the profit margin - Lack of patience - Fear of cannibalizing existing business - Unwillingness to fund an online presence with offline financial resources and - Fear of loosing control

A key consideration is that, no matter what channels your business adopts, your consumers expectations must be satisfied. Chapter 3 looks at how to ask consumers what they find negative in the shopping process - and helps the reader to identify the consumer problems and understand their concerns. The purpose of this chapter is to turn these consumer problems into true retailing and e-tailing opportunities.

Retailers need to anticipate and be prepared to accommodate changing consumer expectations. Constantly analyze your product/service category’s relationship with consumers and ensure that your own business isn’t becoming disconnected from customer expectation.



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