Is omnichannel the retail of the future? In the view of venture capitalist J. Skyler Fernandes, no—it’s retailing now. Speaking to a standing-room-only audience at ICSC’s New York Deal Making conference Tuesday, the managing director of Cleveland Avenue cited a recent Harvard Business School study showing that 70% of consumers buy in multiple channels, while just 7% buy only online and the remainder buy only at physical stores. In other words, omnichannel has become the norm.
Even as online and mobile shopping makes further inroads into brick-and-mortar traffic, Fernandes predicted the death of pure-play e-commerce. For one thing, he noted, “Mobile commerce is literally eating e-commerce’s lunch.” . . . more