Saks Fifth Avenue is moving from being a multi-channel retailer to an omni-channel retailer. As part of its “Project Evolution” Saks is improving its marketing, merchandising, and customer service efforts. The company is investing heavily in integrating store and online sales. Saks has merged inventory across channels. The company has increased its efforts to update its website to include more photography and editorial and to personalize the customer’s shopping experience.
Saks is also relaunching its loyalty program. Saks’ original loyalty program began when customers spent at least $1,000. Now, customers can enroll instantly with their first purchase. Saks hopes that this makes shopping across channels easier. Saks is hoping to attract more customers and not rely so heavily on the traditional luxury customer. In order to attract these customers, Saks is shifting towards more emerging brands to make its product assortment more relevant.
What is the difference between multi-channel retailing and omni-channel retailing?
SOURCE: Sarah Mahoney, Marketing Daily, March 13, 2013