Please welcome the new King - 360° Retail!
Just as Web2.0 was a buzz word for a seismic change in the way users interacted and used the internet, the Web2.0 term was over used and wrongly interpreted by both retailers and their internal processes and decision makers that would influence their web strategies. So we (in the consultancy trade) moved away from that term (well we try to, but still hear the term being used out of context and just reasoning even today!)
Same can be said for multi-channel retailing - where we hear retailers and again the same decision makers at all levels believing that they have the perfect strategy or heading towards their multi-channel offering and objectives. They believe that by having a website and retail offering that they have achieved their board directive and pat themselves on the back and move on...
Its because of these fundamental flaws in their own strategic development and internal process that drove me to think some what differently and approach this area in a different way that perhaps a simple shape such as the common circle which equates of course to 360° that this may give a better perspective and insight into what to do and how to achieve their goals - which should never end! Hence using the revolution of a circle!
The circle, a simple clean and straight forward shape.
A shape with the largest area for a given length of perimeter.
It is a highly symmetric shape: every line through the centre forms a line of reflection symmetry and it has rotational symmetry around the center for every angle.
The area enclosed by a circle is the radius squared, multiplied by π. -
(Area=r²x π) You can’t argue with something as fundamental as π (Pi)
Finally the circle has been known since before the beginning of recorded history (so quite a long time then, and it was the basis for the invention of the wheel. Now what is that old saying “don’t try and reinvent the wheel..”
So 360° Retail is the future, the past and the present that I will build the next set of tools, theory, thesis and education around the basic fundamentals of retail.
Multi Channel Retail is another “buzz” word that in essence actually means great things to some and is irrelevant to most - but they don’t know it - because they have been guided into thinking that this is a key area that they should concentrate on. Yes look at the channels that are appropriate to your business - but it doesn’t stop there - look beyond the channels and you will start to understand your retail business and of course how to deliver to the channels that you have available.
Forget Multi-Channel Retail and concentrate on your 360° Retail and you will have a more rounded experience for your customers and potential customers. This is a topic that I will develop over the months and an action plan to get you and your business to look beyond multi-channel retail and immerse it into 360° Retail.
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