Types of Retail Channels are becoming increasingly diverse, complex in operation and require many new resources of businesses: recruiting more human resources, having new skill sets (such as Digital, E-commerce), investment new warehouse system (for handling multiple orders at the same time if opening a store on Shopee, Tiki, Lazada).

In addition, Shopper’s shopping journey is increasingly diverse, multi-channel shopping with different behaviors & psychology. For example, after a treatment at a beauty salon, buy cosmetics advised by a doctor, then go to Lazada to hunt deals in your spare time, and when you urgently buy facial cleanser, visit Pharmacity near home.

❖ This requires a Multi-Channel Manager to have insight into the different roles of retail channels, channel specifics, Shopper psychology & behavior, and also the internal resources required to operate the channel, from which to effectively plan sales at the channel.

Multichannel Management requires planning & managing 4 important types of work:

1. Make a business plan: focus on 2 core elements

❖ Sales: determine base and forecast sales (monthly, quarterly, semi-annual) to product SKU tier.

❖ Profit: manage store expenses (including operating fees) & budget for retail operations.

2. DMSP management:

Building a catalog according to different retail channels (depending on channel characteristics & Shopper episodes), negotiating with retailers to list in stores (intermediate distribution channels), managing inventory to ensure ensure enough sales.

❖ Listing by category, product line, Brand, category & to SKU level.

❖ Listing new seasonal product lines.

3. Management of retail activities:

Develop a schedule of activities to organize activities at the store to encourage purchases: promotions, display / perspective display, store communication, sales consulting, activities. Online channels have specific activities such as pop-up ads, playing games to accumulate vouchers, using banners/campaign videos, etc.

4. Evaluation of sales performance:

Analyze the unique Metrics of each retail channel, collect customer feedback and ratings on the shopping experience to propose improvements, re-engineering value at key touch points.

❖ Online channel metrics: visit, app usage time, order number, sales, app retention / abandonment rate, conversion rate, etc.

❖ Offline channel metrics: coverage, stock shortage, number of visits, conversion rate, etc.

❖ Suggestions to improve the shopping experience: better vertical color block displays, more creative themed Mannequins, more pleasing warm yellow light adjustments, and more… 🥰🥰🥰

VIETNAM MARKET RESEARCH x MARKET REPORT COMMUNITY