In the fast-evolving world of retailing, it’s all too easy to become preoccupied with the notion of e-commerce and digital sales.
While there is good reason for this, however, such an approach ignores the rise of omni-channel retailing and the role of assisted conversions in influencing the customer journey. Remember, 50% of all customers expect to buy products online and then collect in-store, and this represents the top of flexible and integrated shopping experience that consumers demand in the modern age.
While it’s important that brands embrace omni-channel retailing in a bid to increase their revenues and market share, however, this means little if they’re unable to optimise profits. In this post, we’ll show you how to achieve this through the use of a dedicated legal team.
The challenges of omni-channel retailing, and how law firms can help
Omni-channel retailing is particularly important for bricks-and-mortar retailers, as they have the opportunity to leverage their stores and secure a competitive edge over e-commerce giant such as Amazon.
Despite this, maintaining your margins through omni-channel retailing is a challenging pastime, even if you’re able to increase revenues and target a larger market share. After all, you’ll most likely need to increase your marketing spend by recognising the value of brand interactions at different stages of the customer journey, while it can become increasingly difficult to calculate margins surrounding increasingly diverse order flow paths.
Many of these challenges can be mitigated by employing the services of reputable law firm, particularly one that has experience of the retail sector and can tackle an array of complex, legal issues. Take DWF Law, for example, which remains one of the most widely used firms among FTSE 100 retailers and has the necessary experience to consider challenges from the perspective of brands.
More specifically, expertise of this type can oversee the development of new consumer channels, from websites and dedicated e-commerce sites to mobile apps. So, while you and your creative teams can focus on design, your legal partners can work to ensure end-user privacy for customers and secure intellectual property (IP) rights. Similarly, legal representatives can ensure that the omni-channel advertising and marketing campaigns that you build are compliant, and this is particularly important when crossing into international markets.
The last word
Even more importantly, firms of this type can help to support compliant and innovative information management, which is a basic building block of any omni-channel retailing strategy.
After all, the integration and development of different channels will require huge swathes of data, which must be acquired, stored and utilised in an efficient and compliant manner. Legal firms play a pivotal role in helping you to achieve this objective, saving you considerable amounts of time and capital in the process.
This, in turn, can turn into far greater profits, and ensure that your omni-channel retailing business delivers a viable return over time.
(A Retail Times’ collaborative article)