Due to the increasing growth of Ecommerce each and every business, today is looking for the benefits of Omnichannel retailing. This blog is going to deal with What is Omnichannel retailing? Does the business need this to be Omnichannel retailing? All the queries will be answered in this blog, stick to it till the conclusion.
History of Retailing Channels
Single channel is used since the origin of the commerce industry, that is the sales occur through a physical store. This was a more successful model since it doesn’t require more expensive than setting the physical store. Due to many limitations this channel evolved.
The Digital Revolution – The growth of digital revolution leads to the increased use of smartphones and tablets which in turn provides customers a more comfortable way of approaching. In order to broaden their offerings retailers moved their business to a diversified startegy. As a result, the Multi-channel model was born. As per the customers preference they are able to shop from many different channels. Multichannel method offers the customers the needed convenience and flexibility to shop goods and services.
This Multichannel approach reached more growth and success. Although this channel provides more benefits to its customers but lacks in offering seamless user experience across various channels. Since more data got accumulated, it became more critical to provide quality among different channels. Since the shoppers and the retailers communicate, providing the best customer service was a big concern.
The origin of Omnichannel
Customers today demand more. They don’t want to limit their shopping by geography.They are looking for purchasing through different channels and not looking for struggling for delay in the delivery. To provide unified shopping across all platforms Omni Channel retailing plays an more important role. Centralized management of data sources is required by Omni-channel to ensure a demographic view. In the shopping process customers can use different channels.
Difference between Multichannel and Omnichannel
OmniChannel is not exactly the extension of multichannel retailing, both the channels follow different business models. Though multichannel implements as many different channels but there is no quality among the channels. The channels need to be managed seperately. On the other side Omnichannel provides an integrated solution where it has a centralized data management for all channels.
According to Harvard business review study, it was stated that,
73% use multi channels
20% customers were store shoppers
7% shop online exclusively
As per the study states multichannel helps in generating more sales. Implementing omnichannel can boost your sales. Providing multiple channel options will result in more purchase. If you wish to increase your customers and sales omnichannel will be the right strategy.
Do businesses need Omnichannel strategy?
Due to the vast growth of smartphone use and the internet today each and every business needs an online presence. Several studies and research have proved that multichannel strategy is the best way to go. Today customers want each and everything at their convenience and that is made possible through online presence. The demand is now extended to have many different platforms not just with multiple channels. If you are looking to expand your business, adopt an omnichannel model.Businesses that adopt omnichannel are in more height today. Disney, Zomato, Starbucks adopt omnichannel strategies.
Developing Omnichannel Strategy
Identifying your target customers is the very first step in establishing Omnichannel strategy for your business. This includes, analyzing your customers platform, medium through which they utilize the services and the devices they use. With the help of Google Analytics know more about your customers geography, demographics and concentration.
Check how users discover and reach your business. After gathering all these data you can implement the Omnichannel strategy. This analysis will make you understand your business and customers more.
Businesses today need to bridge the gap between offline and online shopping, people dont waste time visiting stores to have their product or services. Customers are looking for getting services just with one or two taps on their smartphones. Providing the best customer experience will result in good reach for all business.
There is no doubt that technology today is evolving rapidly. Teamwork helps in ensuring the success of any business. We Smarther one of the best mobile app development company in chennai in providing more seamless integrated ecommerce solutions to all kinds of business.