What is Omnichannel merchandising ?
Omnichannel merchandising refers to creating a unified customer experience across all possible touchpoints of the customer journey.
Omni-channel retail (or omnichannel commerce) is a multichannel approach to sales that focus on providing a seamless customer experience whether the client is shopping online from a mobile device, a laptop, or in a brick-and-mortar store.
According to Harvard Business Review, 73 percent of all customers use multiple channels during their purchase journey. Only when the customer has gathered as much information as possible from a variety of sources to support their purchase decision, will they decide to buy from a retailer.
Omnichannel operations focus on the entire customer experience—not the customer’s individual experiences on different channels.
Benefits of Omnichannel Merchandising
1. Better Customer Experience
What do your customers expect? Number one on the list is a unified experience.
According to UC Today, 9 out of 10 consumers want an omnichannel experience with seamless service between communication methods.
As the number of touchpoints is increasing, so is the need for seamless integration from one touchpoint to another.
Whether it’s a social ad, an email newsletter, a mobile push notification, a conversion with your chatbot or a face-to-face chat with your store staff.
By breaking down the walls between the channels in business, the consumer is empowered to interact with a company in a way that feels natural to them.
2. Increase in sales and traffic
Making your sales strategy omnichannel-proof isn’t that simple. But it’ll definitely be worth your time and money.
A study of 46,000 shoppers shows that omnichannel customers spend more money than single-channel customers.
And with every additional channel they used, the omnichannel shoppers spent more money in the store.
Customers who used 4+ channels spent an average of 9% more in the store compared to those who used just one single channel.
3. Boosted Customer Loyalty
Not only do omnichannel customers spend more, but they’re also more loyal to your brand.
The same study shows that within 6 months after an omnichannel shopping experience, these customers had logged 23% more repeat shopping trips to the retailer’s stores.
They were also more likely to recommend the brand to family and friends than those who used a single channel.
With an engaging brand story, you can stop pushing discount coupons, mid-sale campaigns, and other traditional marketing tricks. Focus on customer loyalty and your brand will be safe.
This means that an omnichannel strategy will not only increase sales, it will also improve your customer loyalty. Sounds good, right?
4. Better Data Collection
Retailers who are able to track their customers over different channels can serve their consumers better with a more personalized experience.
The omnichannel approach allows businesses to gain insights on how to create content and offers that will encourage their customers to engage themselves in shopping more – not only online but also at the physical stores.
Is Your Omnichannel-Ready?
Keeping up with the ever-changing world of commerce isn’t easy.
Today, more and more brands are exploring the benefits of omnichannel. Shifting from single-channel or multichannel to omnichannel commerce takes a lot of time and effort. But it will all be worth it.
A quick recap of the differences between single-channel, multichannel, and omnichannel commerce:
- Single-channel commerce sells through one sales channel, for example as a store-only or web-only business
- Multichannel commerce operates on multiple channels, both online and offline
- Omnichannel commerce connects the dots between all channels, offering customers a seamless experience across all platforms
Is your business ready to be introduced to omnichannel commerce? Leave a comment below.
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