3 omnichannel strategies that transform the retail market and help brick & mortal retailers approach customers effectively.
Much has been written about what omnichannelis and how it benefits consumers. But what does it actually mean for a retailer to embrace omnichannel in terms of the value proposition today? How can a retailer deliver an omnichannel experience to its consumers? Let’s take a closer look at proven omnichannel strategies.
Omnichannel is a rather new and highly ambitious concept. It is not easy to implement either. Many renowned retailers, however, have achieved remarkable results thanks to omnichannel strategies. Omnichannel benefits both retailers and consumers in a number of ways. But from the IT perspective, what does it take to actually create the omnichannel experience?
Topics: Retail Management System
For years, journalists and ‘experts’ have been talking about the inevitable demise of brick and mortar retail when customers will eventually switch to e-commerce. This couldn’t be further from the truth. In fact, every retail channel has evolved and transformed itself in order to adapt to today’s completely new retail landscape. Traditional retailers are threatened not by online competitors, but by their inability to transform themselves.
Topics: Retail Management System
Omnichannel is a critical and developing trend within retail industry at the moment, and even in the future. These are 3 ways that omnichannel turns the retail's world around.
Increased sales & customer loyalty
According to a research by Accenture, 88% of shoppers today use at least one digital channel when searching for products. So making your brand and products readily available and easily accessible in all channels is absolutely essential. Retailers have a much higher chance to increase sales and customer loyalty if they can maintain a strong presence in both physical and digital domains.
There is one similar attribute that all best-in-class manufacturers agree: their supply chain, distribution and service standpoint are very easy to work with the help from cloud-based manufacturing applications, especially Enterprise Resource Planning (ERP).
Along with the emerging trends in technology, Point of Sale (POS) is thought to be also going through a profound transformation. New trends such as intertwined drivers of mobile devices and sensor proliferation, the transition of back-office systems to the cloud, the demand of enhancing customer experiences, etc., have led to changes in consumer behavior.
Point of Sale (POS) is going through rapid change driven by emerging technology trends and innovations. In the last post, we discussed the explosion of hardware and software innovation and its impacts on this evolution. In this post, we will introduce one more critical part and its impact in POS innovation.
The millennial shopper has been characterized as an elusive being -- we know they exist, but we seem to have trouble catching them, at least for a prolonged period of time. Predicting their actions is an even greater challenge. As a result, retailers have formed a number of myths around millennial shopping preferences -- some that border on superstition -- and many approach these myths as reality.