Why you should invest in omnichannel

06/10/16

The new consumer, increasingly empowered, demands a unique shopping experience, regardless of the channel. Omnichannel has no borders and brands need to adapt to it. This 3.0 client does not accept different prices being practiced or that different postures are assumed in different channels, because they see the company as one. And they are right.

In 2016, Nilsen released a research called “2016 Australian Connected Consumers Report”. Notice in the graph below that consumers now have a wide range of preferences on how to connect with brands – whether online, offline, both, online to offline to online again and so on.

gráfico

 

The same report shows that 82% of people “often” or “sometimes” search for an item online but buy in-store. Surprisingly, 27% of consumers surveyed always or sometimes use a mobile device in-store before buying in-store!

Lifetime value

When Macy’s discovered that its omnichannel customers are eight times more valuable than those who buy in only one channel, the company took this as a hint on the overall shopping behavior and put an end to organizational silos, taking a holistic view of the consumer . Not an easy task for a company with almost 200,000 employees.

In 2015, IDC conducted a study and found that consumers who purchase products both in-store and online have a lifetime value 30% higher than those who use only one channel.

Retailers now have to operate in a universe that transcends the physical, digital, mobile and social channels. All the time. In this context, companies need to connect and interact with consumers across multiple touch points, consistently, to provide the omnichannel experience. This requires a structure that involves technology, organization and reaches all levels of the company.

Where to start?

Before changing your entire operation, we can start with communication. Bibi Calçados has adopted an omnichannel solution based on data that benefited all channels in which it operates.

Solutions such as “buy online and remove the store,” data collection in physical stores, returns and exchanges in any medium, single view of inventory and price are great opportunities to improve omnichannel operations.

A new report released by Harvard Business Review Analytic Services sheds some light on the subject: “Most executives will have their hands full optimizing and fully integrating their channels, but one thing is certain: more and more mobile will be the start point for business.” Another recent study by Forrester Research in conjunction with Google showed that 70% of the companies say that mobile devices have become an urgent need to transform their businesses and experience.

Sources:

Winning Omni-Channel Shoppers in Their Micro-Moments

Why omnichannel matters