Kohl's Faces the Challenges of Omnichannel Retailing
It's 2017, and by now Kohl's Corporation (NYSE: KSS) and most other brick-and-mortar retailers have accepted that having an e-commerce website is a must. As more and more consumers are buying products online -- hence the rise of Amazon.com and phenomena such as Cyber Monday -- companies without e-commerce websites risk losing market share. So traditionally brick-and-mortar retailers such as Kohl's are now focused on building a successful omnichannel business model.
Omnichannel means allowing customers to shop through multiple channels, which could include stores, a website, or even by phone. The advantage of offering multiple channels is that it maximizes convenience for consumers, giving them more than one way to make purchases. Yet "going omnichannel" means something different for every company and there's no easy-to-follow road map to success. Some online retailers are taking the plunge into bricks and mortar, while traditionally brick-and-mortar retailers are attempting to capture online sales.
Kohl's management talked during their most recent conference call with analysts about the chain's commitment to becoming "best-in-class as an omnichannel retailer." Let's take a closer look at how things are going for the company in transition.
Source: Fool.com