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Multi-channel retailers are out-performing online-only ("pure-play") retailers, and the multi-channel's market value reflects this success. A Bain & Company analysis shows that multi-channel retailers succeed when they define distinct roles for each channel, use the web as a customer-acquisition tool, and work hard to convert browsers into buyers. To help get this last part right, the authors isolate key defection points-critical moments when retailer are apt to lose customers. For retailers, the key to making the most of the Internet depends on correctly determining the Internet's strategic role in relation to other channels and investing in that role.
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