Omni-channel is a powerful strategy for retailers to improve their customer experience, sales, loyalty and business performance.
By 2018, 30% of major retailers will adopt an omni-channel digital B2B and B2C commerce platform, improving customer experience, process efficiency, and inventory management.
We observe the current B2C and B2B retail experience exists largely in separate and disconnected domains. Digital transformation will streamline the customer journey, allowing for it to begin and end on any device, in any channel, at any point.
Based on consumer research, we find that while multi-channel shoppers spend, on average, 15% to 30% more with a retailer than consumers who use only one channel, omni-channel shoppers will spend 15% to 30% more than multi-channel consumers and exhibit stronger brand loyalty.
So satisfying the Omni-channel Consumers whenever and wherever they shop, we observe that when consumers are provided with a seamless experience across multiple channels they shop more often and make more purchases across a relatively broad number of product categories.
CampbellRigg delivers independent, timely and relevant brand strategies on omni-channel retailing to meet the needs of each client. Please go to projects, non-food, Currys PC World Black on this website to review the brand work for one such case study.
Another potential benefit of a well-defined omni-channel strategy is getting shoppers back into stores. Despite the predictions for the demise of off-line stores, research continues to show that consumers still want the social interaction, surprise discovery of new merchandise and instant gratification delivered with the in-store retail brand experience.
Research also shows that 60%-70% of offline sales are now impacted by online research and digital offers. Clearly, online channels can be designed to get consumers into the stores. With a smart omni-channel retailing strategy, one channel can drive another to promote channel revenue goals.
Our focus is to help customers navigate the connected world. The strategy includes delivering a single supply chain and unifying the range as well as rolling out a single IT system to underpin its retail brands’ stores, back office and supply chains.
Our work with Argos, the established UK catalogue retailer with over 700 stores “click and collect” availability on more than 17,000 products, has helped the retailer fully embrace e-commerce, with 51% of its sales having multichannel involvement. Over 30% of their sales come through the store’s “check and reserve” service, and 42% of their sales are solely online. The store has also worked to increase the amount of digital inventory, as well as online review information, available in-store.
Argos demonstrates extensive support for shoppers who use multiple touch points before completing a purchase. This includes providing online tools and information to help shoppers who want to complete purchases in stores, and using in-store technology, signage and store staff for the benefit of shoppers who need to complete purchases online.
Here area few benchmarks for retailers of what they need to deliver to ensure a competitive customer experience, and where retailers can improve to make the experience they provide across sales and marketing channels seamless.
Retailers need to mention or promote their website on signage in their stores
Have product ratings & reviews on their website
Include a store stock checker on their product pages, so customers can find nearby stores with the product in stock
Sell gift cards that can be redeemed online
Offer free WiFi in their stores
Offer an e-receipt when purchasing in stores
Offer same-day delivery options
Reply to an email customer query within 24 hours
Please visit projects, non-food, Argos on this website to review the Argos case study concerning our ten year partnership with the retailer.
Apple has done a lot to ensure that its mobile app and physical stores feed into each other to enhance sales. For instance, customers can use the mobile app to book support appointments at a store’s Genius Bar. Walk-in users get messages through the store app confirming their requests and letting them know when a technician is available to help them. When a customer orders an item online to collect in-store, they receive an alert when their mobile device senses they are near the store. The alert brings up the relevant order information, which the customer can then present to a sales assistant.
The most sophisticated retailers are enabling customers to convert on any channel. But recent studies have found a gap between consumer expectations and the omni-channel experiences that retailers and brands deliver.
Here are five pressing challenges for our clients:
1. Closing the gap between customer expectations and omni-channel retail execution
2. Engaging in a consistent, personalized way across all channels, whether they be a call centre, or store experience
3. Focusing on customers instead of products
4. Mobilizing stores to serve omni-channel customers with sales and advice in-store
5. Weaving omni-channel B2B and B2C experience into the fabric of the retail organization
Omni-channel retailing enables the customers both to start a purchase in the channel of their choice and complete it in a possibly different channel of their choice. Although 65% of shoppers prefer to shop in person, retailers can still use other channels to enhance the in-store experience, as well as provide an avenue for shoppers when the physical stores are closed. Also, the percentage of people who prefer to shop online is likely to increase as more people become more comfortable with the technology.
Our internal process of renewal, allows us to continually benchmark and write about the best in class retail trends across the globe.
Why not call us and talk about your retail brands or design renewal programme, digital and social media requirements.