Omnichannel retail is a multichannel approach to sales that aims to develop a seamless customer experience whether the client is shopping online on a laptop, on a mobile device, or in a brick-and-mortar store. In an omnichannel construct, there is integration between distribution, promotion, and communication channels in the backend. Omnichannel also allows customers to reach out with issues or concerns by phone, email, webchat, and social media. And so far, it has been found to be extremely good at attracting and keeping customers.
A study conducted in 2020 by Omnisend found that marketers using three or more channels in any one campaign earned a 287% higher purchase rate than those using a single-channel campaign. The same study found that customer retention rates were 90% higher for omnichannel versus single channel and that purchase frequency was 250% higher on omnichannel versus single channel.
Data collected by Think with Google in 2021 found that omnichannel strategies helped generate around 80% of in-store visits by customers with as much as 74% of customers doing online research before visiting a physical store.
With all this data, there’s no doubt that all retail stores should be considering omnichannel. So why aren’t they? What blocks are there to omnichannel implementation?
According to the CMO Club, 64% of marketers cite lack of resources and investment as their top barrier to omnichannel marketing. But the real question should be can firms afford not to implement omnichannel? If they want to stay competitive in an ever-changing world, they need to step up their game.
Luckily, SMART Retail is here to help. There are many different ways a transaction can flow through an organization (buy online pick-up in-store; buy in-store, return online; and so forth). SMART Retail ensures you have all the right information in the right places to manage all those events easily and seamlessly without error.
Furthermore, SMART Retail’s ecosystem can track all the necessary and crucial data of a client’s purchasing journey with no segregation from different transactions. It essentially gives you a full 360-degree view of all processes.
SMART Retail considers fulfillment so you can make smart decisions on all kinds of challenges. For example, should you stock a retail shelf to have customers pick up from a location, or ship to online customers directly from a warehouse? SHEA keeps it all in one destination, improving customer expectations almost to perfection. It makes for no disconnect from online and auto-fulfillment.
SHEA’s SMART Retail helps you take your business from a single or multichannel to an omnichannel easily, quickly, and efficiently. SMART Retail also ensures the transition process is as optimized as can be. This is a business tool you can’t afford to ignore if you plan on having an online presence. To learn more about our many solutions ranging from the aerospace industry to high technology, visit us at https://sheaglobal.com.