Omnichannel Retail: Why Is It Important?
“Omnichannel Retail” is a popular industry term.
But what does it mean?
It means that you can meet your customers in the current retail environment.
Customers wherever they may be. A recent survey of U.S.-based millennials found that two-thirds indicated that they use digital and hybrid services.
Before making a purchase, do some research in-store and online. Half of the millennials also indicated that they used both in-store and online channels to purchase a product.
What is Omnichannel Retail?
Omnichannel retail gives customers a seamless shopping experience regardless of how they interact with the retailer — mobile browser, text, email message, desktop computer, or brick-and-mortar.
These channels were traditionally viewed in silos. This forced retailers to invest in single-channel strategies that do not require many.
It can take time and attention, but it also presents a fragmented user experience.
Customers want consistent and connected service across all touchpoints.
This allows them to shop when and how they like.
They want what they want, and where it is available.
Strong omnichannel retail strategies deliver on the promise to provide seamless shopping experiences — unifying marketing and sales.
Ensure customer satisfaction through technology, logistics, training, and other means.
A shift From Multichannel to Omnichannel
To make you more comfortable with omnichannel, and discover an advantage over multichannel and multichannel, let’s take a peek at how omnichannel appears in real life.
Let’s say a client is browsing your site for an item to wear but decides to not purchase it immediately.
Then, while browsing Facebook they see the ad that offers an offer code that they can redeem on your website, and they make the purchase.
When they finish, they can pick up their purchase in your brick-and-mortar store.
In this case, your customer will interact with your company through three different points of contact and enjoys an effortless and consistent experience with each.
The Difference Between Multi-Channel and Omni-Channel Retail
According to the digital marketer and experts:
The distinction between omnichannel and multichannel depends on the company’s strategy for digital channels.
Companies that are focused on improving the effectiveness of each channel-physical, phone, and mobile, as well as the web, have an approach to multichannel.
However, an omnichannel strategy places the consumer and not corporate silos at the heart of their strategy.
It recognizes that mobile and social media have allowed customers to quickly change channels, but make use of channels at the same time.
For instance, they could read reviews of products on their phones while also evaluating the product on a shelf in a retail store.
In the same way, omnichannel acknowledges that customers interact with brands in different ways across various platforms, and is aware of the problem of providing a consistent experience.
While there’s a belief that omnichannel may be an extension of multi-channel, both methods are completely distinct and distinct retail models.
With multi-channel, retailers can use the most channels they can however they separately manage them.
Additionally, Omni-channel gives retailers completely centralized data management that can be used to facilitate the synchronization of their existing channels.
Thus, it provides shoppers with the best shopping experience possible by blurring the distinctions between channels.
Why Omnichannel Is a Must in the Retail Industry?
At this point in the “Internet of Things” era every retailer is required to operate an online store.
Recent Harvard Business Review survey of an overwhelming 46,000 consumers discovered that:
- Only 7% of shoppers shop exclusively on the internet.
- 20% of shoppers were in stores only.
- Seventy-three per cent of the people surveyed moved through different channels.
Selling your products through different channels isn’t enough to make for an omnichannel user experience.
It can be difficult to determine if your business is an omnichannel business.
Are your sales channels, as well as other marketing engagement channels, working together?
If you’re unsure take a look at these 5 questions:
- Are your customers able to make an online purchase and then pick it up in-store?
- Or, click on an item that is sold in an email, to include it in their shopping list?
- Does your store clerk have the ability to search the mobile app of a customer’s purchase list at the store for them?
- Can customers log into your website and look up their previous purchases made in-store online, on the internet, or through the Facebook Store?
- Do you update your loyalty program to add points and rewards on the mobile apps of your customers?
Omnichannel retailers can say”yes” to all one of the above questions.
All their marketing and sales points are interconnected to create a unidirectional customer experience which is at the core of an omnichannel approach.
In the end, multichannel retail creates barriers to sales because consumers don’t get a unified UX experience. Additionally, the key points of contact aren’t linked:
- Customers can place orders online, however, there is no pickup in-store option. Boo! Now they need to be waiting for the order to arrive. Or, they’ll have to look around your shelves in they return from work.
- Your customers are awestruck by your sales emails But they need to leave the email, access their shopping list in their app, and manually add items by switching between screens.
- Dang! The battery of your customer’s smartphone is dead and they’re in the store with a complete list of items saved within their application. But, the store clerk isn’t able to help as your store’s point of sale and online systems aren’t linked. The customer then shops out of their mind and then loses 3 items. They’re disappointed and you’ve missed three sales.
- A customer bought something at the store that they liked, but couldn’t remember the item they purchased when they place an order online. Because the online and in-store sales aren’t tied together, they don’t view it in your order history, and you’ll make an opportunity to make a sale.
Will Omnichannel Increase Retail Sales?
The seamless shopping experience at brick-and-mortar stores, and via a range of digital channels makes retailers stand out from the crowd but can also give them an advantage over online retailers by using their stores’ assets, Omnichannel shoppers are also more likely to buy more items and show more loyalty.
To put the whole matter in one sentence Consumers are more likely to interact with omnichannel retailers, invest more money in these retailers, as well as being loyal customers who return more frequently at the local store.
Retailers who have brick-and-mortar shops should take advantage of the potential offered by the internet by integrating the physical and digital realms into an omnichannel format that gives shoppers an omnichannel seamless and consistent experience.
It will distinguish you from your competition and boost the sales of your store.
Find out more about how you can make an omnichannel plan and create an incredible shopping experience that is omnichannel!
Why Omnichannel retail is important?
Customers have many choices in a connected world.
They also have constant demands for their attention and time.
Loyalty is a key driver for retailers. consumers are those who have a strong brand story, smart loyalty programs, and a sense of urgency to serve the customer.
They are where they should be.
This ensures consistent, high-quality, convenient, and efficient service for every customer at any moment.
If you treat them with kindness, they will be happy to recommend you to others. If you drop the ball, your customer may become frustrated and take up another task.
They can voice their grievances via Twitter. It is clear what the stakes of this job are. You must be the one who builds meaningful relationships with customers.
Three Biggest Trends In Omnichannel Retail
Let’s look at some of the most important trends in Omnichannel Retail.
Consumers are increasingly shopping via mobile devices.
Your associates in-store should be able to take advantage of this opportunity.
Relationships with customers Endear’s messaging capabilities allow associates to text customized selections.
Instant gratification is easy. It is seamless and it is surprisingly personal
2. Leverage eCommerce In Store
Brick-and-mortar and eCommerce were traditionally at odds in the retail industry.
But today’s integrated technology fosters a culture that embraces both.
Shared success. Associate in-store staff can now use the virtual stockroom of their online shop to continue the relationship with customers remotely, without losing the sale.
3. Buy Online, Pickup In-Store (BOPIS)
Bring online customers into your physical store to make a deeper connection with them. This allows you to give back.
You have the chance to delight and surprise them and maybe even sell more.
Omnichannel retail is ultimately a two-way street. Your business will benefit from your knowledge and service to customers.
You can track their preferences and purchases across all platforms. It is easier than you might think to get started.
Brisk Logic will help you find the right plan for you.
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