Multi channel retailers and snow storms in 26 states

Multi-channel retailers are counting the losses from the recent snow storms that affected 26 states in USA. The lost sales dollar amounts, in brick and mortar stores are staggering, ranging from hundreds of thousands dollars to even millions of dollars. Some customers were couped up in cozy homes and building snow men in their front yards. Some customers, depending on the areas where they live, were travailing in home without electricity and heat. Meanwhile, the store operations teams and finance teams at the retailers were desperately hoping the snow fall would stop, but to no avail. The upshot snow records were broken in many states.

However, one thing that was the common denominator for many multi-channel retailers is their Ecommerce stores were open and operational! Here are some questions that all multi-channel retailers need to ponder to avoid a 'deja vu':

• How many retailers captured online the lost sales in their brick and mortar stores?
• How many retailers are fluid enough with elastic supply chains to absorb all the lost sales in physical stores into their online stores?
• How many retailers, having heard the weather reports from a week or so before, proactively initiated email campaigns with percentage off and dollar off coupons to draw all those at-home customers online?
• How many retailers will report an increase in sales revenue in the next quarter by taking advantage of the snow?

If retailers don't have these capabilities, maybe it is time to strategize, invent, and take advantage of the next snow storm, online.

All the best!