How Your Omnichannel Retail Strategy Is Going to Set You Up For Success in 2021
The term ‘omnichannel’ is not new; it’s been a buzz word for many years, although we’re only now seeing retailers offering a full omnichannel retail experience. The term refers to the seamless integration between the online and offline worlds, enabling a frictionless shopping experience for customers.
What is a Omnichannel Retail?
Multichannel retailers may sell products or experiences across multiple channels, including ecommerce sites, marketplaces, social channels and bricks and mortar stores. A true omnichannel retailer not only sells across these channels, but they’re integrated in such a way as to provide a consistent brand experience across all channels. In an omnichannel world, there’s one source of product truth, one central hub for product and customer data, and everything speaks to each other.
Why is Omnichannel So Important Right Now?
Consumers have changed the way they shop. They expect more. 83% of shoppers say convenience while shopping is more important compared to five years ago (and that was pre-COVID!). Retailers need to deliver more for their customers; they need to adapt to their needs by having a deep understanding of them. Every customer touchpoint needs to be optimised, and designed to surprise and delight customers.
5 Winning Strategies to Start Your Omnichannel Journey
Centralize your Data
Omnichannel retailing doesn’t exist without one central data point. Your PIM should connect to all your essential business systems and be the single source of truth for product and order data.
Bridge the gap between your offline and online worlds
Create a seamless, friction-free shopping experience for your customers by giving them the same experience wherever they choose to touch your brand.
Reimagine your retail stores
Your stores are a part of your retail experience, not the pivotal piece. By centralizing data and bridging the gap between your offline and online worlds, you empower customers to engage with you a way that’s convenient to them.
Understand where your customers are
Make every interaction they have with your brand, whether it be videos via social channels (customers are up to 85% more likely to buy a product when they’ve watched a video!), within a marketplace, on your own ecommerce site or in a store, consistent. Ensure every touchpoint is ‘shoppable’ – when they’re ready to buy, they’ll buy.
Increase your investment in omnichannel
BigCommerce found that 46% of retail executives say they’ll increase investment in omnichannel moving forward – clearly it’s a priority, as it should be. Look at your tech stack. Can your applications speak with each other, and ultimately empower staff to offer the best possible customer experience, while also meeting customers where they are?
“If you set it up right from day one and integrate it properly then it just works and that’s what it should be. For so long we made ecommerce so hard but now it’s just easy. The amount of time, effort & headaches we have saved is almost priceless.”
Check out how Glue Store connected their commerce ecosystem, taking their ecommerce offering to new heights.
Omnichannel Stats That Will Make You Take Notice
of shoppers research online before they buy to ensure they are making the best possible choice.
of shoppers confirm inventory online before going to the store.
of shoppers say the ability to shop instore is important when deciding which brand or retailer to buy from.