Customers today buy from brands and not from channels. It is this phenomenon that brings in the concept of customer centricity into the picture. Customer needs and wants are always evolving. However, instead of identifying a different solution for every possible scenario, businesses should rethink about customer engagement and how they can provide a seamless experience by unifying offline-online channels.
In these series of articles you’ll get to know:
Why there is a need for OmniChannel?
Today customers want to have complete control over their buying decisions. They want to purchase products whenever they want, wherever they want, that too with their own methods that suit best to them. Omni Channel retailing helps businesses in enabling this seamless experience for its customers.
Omni Channel retail is a modern approach to commerce that focuses on designing a cohesive user experience for customers at every touch point. This differs from a traditional approach, where individual channels were optimized without necessarily taking the whole experience in mind.
Hubspot defines Omni Channel as: “the ability to deliver a seamless and consistent experience across channels while factoring in the different devices that consumers are using to interact with your business”.
Still unsure on why Omni Channel is essential for retailers? Let’s check out some facts
A study was published in the Harvard Business Review in 2017 which clearly states that Omni Channel really works. The study was conducted on the shopping behavior of around 46,000 customers who made a purchase during the period from June 2015 to August 2016. Of the study, 7% were online only shoppers, 20% were offline and the rest 73% used multiple channels. The following results came out of the analysis:-
Another survey report by Aberdeen group conducted on 80 retail enterprises in 2011 led to the below findings:
Omni-channel picks up where multichannel falls short
At this point, we hope that you have got a clear understanding of What Omni Channel is and why it is important. In the next post of this series, we’ll discuss about OmniChannel fulfillment options and what are the challenges & opportunities in those fulfillment options.
To provide you a deeper understanding and insights directly from the industry experts, Vinculum is hosting a webinar in partnership with ET Retail on 6th July 2018 at 3:00 PM IST. Register yourself now to reserve your seat.