It is no secret that the internet is completely changing the way that consumers shop. Multi-channel retail allows retailers to keep up with the ever-changing habits of consumers. Mobile searches of ‘same day shipping’ have grown over 120%, suggesting quick access to products is a priority for shoppers.
What is multi-channel retail?
Put simply, multi-channel retail is what it says on the tin – the practice of selling your product to consumers through multiple online and offline channels. These channels can be many things, from shops and social media to online marketplaces and even large department stores.
Multi-channel retail is beneficial to businesses who need to broaden their product reach and is a proven and effective way to increase sales with good strategy and planning.
How does multi-channel retail effect warehouses?
Changing the way consumers can buy products ultimately changes the way warehouses pick, pack and ship them. If your warehouse is not prepared correctly, issues can occur costing you time, money and potentially customer satisfaction.
If your considering multi-channel retail you need to make sure you are prepared. Think about stock control, how will orders be prioritised? How well will your inventory systems work when there are multiple channels to manage? Also, consider logistics – it is likely you will need to fulfil different shipping options for different channels. The aim of the game is to keep existing and new customers happy with your service, avoiding mistakes while packing and late delivery.
How can storage ensure a smooth operation?
A higher number of orders means a higher number of stock for you to hold in your warehouse, this might lead to a need to review your storage can improve your operation.
Space:
Are you utilising all available space? It is an important question to ask yourself, especially if you have got to the point where you need to regularly stop taking orders because your warehouse is struggling. Mezzanine floors are often a great solution to this problem, they can be custom built to your space, and can increase floor space by one, two or even three tiers.
Inventory & Stock:
An easy to navigate layout and good visibility to help picking, are key areas to think about. Double deep racking could be the storage solution to help you by achieving maximum storage capacity. Double deep racking allows pallets to be stored two deep, but still accessible from the same aisle. By reducing the number of access aisles, floor space availability is increased meaning a potential increase in pallet storage by up to 50 percent.
Packing Areas:
Assessing packing areas can be beneficial when considering multi-channel retail. You can decide whether all orders are packaged together in one space, or whether creating multi packaging areas for each channel would be more beneficial. Either way, considering how you store packaging in these areas can help create efficient packaging areas ultimately saving time and money.
The key to multi-channel retail success is preparation, planning and great operations. Allowing you to fulfil orders quickly and efficiently while living up to your customer expectations. If you would like a hand creating a more efficient warehouse book a free site visit with STS Storage Solutions today.