![]() But you shouldn’t be looking at your business through the lens of a single channel - certainly, your customers do not. ![]() in-store, arguing that the costs of each channel are different. Retailers would love to have different prices online vs. We’ve seen it in our research again and again. Should retail prices in store be the same as online? – IMS Results Count.With the growing price parity between online and stores, the retail store is becoming an omnichannel distribution point as much as a point of sale. They realize that a slightly lower product price is insignificant when compared to the highly profitable market basket of add-on sales and services, which are not sold nearly as much online. Indeed, the key differentiators are now speed and service, not just price.Įnlightened omnichannel retailers are even adopting a strategy of matching competitors’ online prices in-store. Retailer store profit now depends much more on total basket than item price. And guess what - if the store price is higher, consumers can simply whip out their smartphone in the aisle, order it at the cheaper online price, and walk over to collect the goods at the “Click and Collect” counter in store. In order not lose a store sale, staff even make the defensive offer: “We would be happy to give you the online price if you order it online and ship it to your home.”īut wait a minute - today’s consumers expect to shop and purchase anytime and everywhere. Many store shoppers are still being asked to pay the higher “store shelf” price to cover shipping and staff expenses. It becomes a quandary with bricks and mortar transformation strategies like “click and collect.” Charging more in-store to support higher cost structures was possible when consumers shopped online as a separate channel.
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