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Omnichannel Puts Retailers on a New Path

Today’s retail customers know what they want—and they aren’t willing to compromise. Increasingly, electronics retailers and the OEMs that supply them, are needing to rethink their supply chains to deliver on these customer demands and meet or exceed their rising expectations.

Omnichannel allows retailers to have a single customer view over all channels, both brick and mortar and retail. Today, that’s more aspirational than reality. “Omnichannel strategies — which seamlessly synchronize many forms of customer experience, including brick-and-mortar store environments, online sales, smartphone connectivity, and voice connections — have been a success for a few retailers,” said an article by PwC. “Generally speaking, though, these efforts have not succeeded in arresting declines in store activity, improving retailer profitability, or boosting online sales.” 

Today, perhaps one in five retails have a single-pane customer view, while a third believe they are at least several years away, according to research by Manhattan Associates.

Of course, the basic tenant of omnichannel is that customers can expect a consistent buying experience, no matter what channel or device they choose to use. Knowing what to expect increases the stickiness of customers.

Customers want to interact with retailers in new ways, across a variety of channels, including social media, text, and more. Further, these same consumers are hugely influenced by what they see in their social media feeds. 

In addition, customers are increasingly expecting that their buying experience will be personalized to their preferences and needs. Increasingly, consumers will expect targeted communications from their retailers. Spam just isn’t acceptable any more. When they enter a store, they also want personalized engagement.

The infographic below from Bain offers a quick snapshot of some of the challenges and best practices of omnichannel. Take a look and let us know what has worked for your organization. 

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