The Role of Multi-Channel Retailing in the Hot tub and Health and fitness Industry in Singapore

 The Position of Multi-Channel Retailing in the Spa and Wellness Sector in Singapore Essay

The Role of Multi-Channel Selling in the Day spa and Wellness Industry in Singapore

Intro

Multi-channel retailing in Singapore's service retail industry features seen fast growth recently as many assistance retailers in Singapore realised its importance in calling wider consumer segments to realise a better buyer experience. According to Berman and Evans (2007), multi-channel retailing is known as a set of activities involved in making sales and solutions through multiple retail platforms, whether it is store-based or non-store based. That allows buyers to shop quickly through a selection of channels such as stores, magazines, websites, kiosks, and even through our mobile smart phones. Zentes, Morschett and Schramm-Klein (2007) define multi-channel retailers while those who incorporate several retail formats, including bricks-and-mortar retailers, traditional and online catalogues, Internet selling, telemarketing and direct advertising. Zhang et al. (2010) concurs and adds that multi-channel retailers are those whose principal source of earnings is selling activities. The adoption of multi-channel selling brings about a win-win situation for both retailers and consumers. Suppliers use multi-channel strategy to use the unique attributes and advantages of each different channel to craft an integrated multi-channel retailing strategy, which supports them to broaden their customer base and boost revenue simultaneously. Consumers likewise benefit by being able to make use of a variety of channels in their searching experience, permitting them to analysis their purchases and help to make informed selections before committing to buying. Mcgoldrick and Collins (2007) identify this because ‘multichannel shopping'.

Multi-channel retailing in Singapore's spa and wellness market The growing spa and wellness sector in Singapore has brought regarding the formation of Spa & Wellness Affiliation Singapore (SWAS). The relationship actively stimulates the integration between your spa and beauty market and the wellbeing market. That integrates all who have a keen interest in this kind of industry to symbolize total health and wellbeing (Spa & Wellness Association 2005). In Singapore, we have seen the spa market boom in 2007 after which watched their decline in 2009 as consumers begin to drop confidence on the market because a large number of spas shut down and left buyers dangling using their unfinished deals. As competition is difficult and consumers start to get back their self confidence in the industry, it truly is of utmost importance pertaining to spa suppliers to check into multi-channel retail strategies to remain competitive. Though moving toward multi-channel selling requires a lot more resources than sticking to single-channel retailing, a large number of retailers are doing so since there are many positive aspects involved. Berman and Thelen (2004) outlined that some key reasons why retailers move towards multi-channel retailing in order to expand their particular market presence, leverage expertise and property to increase revenues and earnings, overcome limits of existing formats and increase consumer share of wallet. Some limitations of existing retail formats will be store size, flexibility in pricing, information-provision modes (Berman and Thelen 2004). Berman and Evans (2007) agree that there are advantages to the multi-channel approach; however , it is important to experience a well-integrated multi-channel strategy that links each of the channels to each other. Commonality in description and consistency in features and style is likewise essential for every single channel so that retailers can easily build up a solid and holistic brand photo instead of confusing consumers. Dholakia, Zhao,  and Dholakia (2005) have reported that trends in consumer behaviour suggest that multi-channel shoppers makeup a significant portion in the total consumer bottom and dedicate more than single-channel buyers. Ganesh (2004) reported a survey finding simply by Shop. org and The Boston Consulting Group that the multi-channel customer – the...

Referrals: Berman, W. and L. R. Evans. 2007. Retail Management: An organized Approach. 10th ed. USA:

Pearson Prentice Hall.

Berman, B. and S. Thelen. 2005. A guide to growing and owning a well-integrated

multi-channel retail strategy

Dholakia, R. R., M. В Zhao, В andВ N. Dholakia. В 2005. В Multichannel retailing: An instance study of

early experiences. В Journal of Fun MarketingВ 19(2): В 63-74

Griffiths, В G., В andВ A. В Howard. В 2008. В Balancing clicks and bricks - strategies for multichannel

merchants. В Journal of Global Business 2(1): В 69-75. В ABI/INFORM Global, В ProQuest http://www.proquest.com.dbgw.lis.curtin.edu.au/В (accessed April twenty-three, 2011)

Harris, R. 2011. Where should retailers start with mobile applications?

http://customerfaithful.com/where-should-retailers-start-with-mobile-apps/ (accessed Apr 23, 2011)

Mcgoldrick, G. J., and N. Collins. 2007. Multichannel retailing: profiling the multichannel

consumer

Spa & Wellness Relationship. 2005. Spa and Wellbeing: HOME: About Us. http://www.spaandwellness.org/ (accessed April 3, 2011)

Bronze, G

http://sgentrepreneurs.com/retail/2010/05/03/deal-of-the-day-with-deal-com-sg/ (accessed Apr 23, 2011)

Zentes, L., D

and International Instances. 1st male impotence. Google Books. http://books.google.com.sg (accessed April 3, 2011)

Zhang, В J., В P. В Farris, В J. В Irvin, В T. В Kushwaha, В T. В Steenburgh, В andВ B. В Weitz. В 2010. В Crafting

Integrated Multichannel Retailing Approaches. В Journal of Interactive MarketingВ 24(2): 168. ABI/INFORM Global, В ProQuest http://www.proquest.com.dbgw.lis.curtin.edu.au/В (accessed April 23, 2011).

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