What is omnichannel retailing and commerce?

What is omnichannel retailing and commerce?
Posted by Attraqt | 8 August 2022
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Omnichannel retailing and commerce combines the potential of each commerce channel, allowing brands to make shopping experiences more cohesive, personalised and inspiring. In a world where shoppers use different devices, online channels and real-world stores, it enables businesses to leverage data from each customer interaction and increase sales through deeper personalisation and smarter merchandising, all driven by data-rich customer profiles.

Google reports that, in 2021, 74% of in-store shoppers searched online before going into a physical store to make a purchase. Customers interact with brands across plenty more channels, too: apps, websites, social media, digital marketplaces, chatbots, stores, service/repair centres and much more. Offering a consistent, engaging experience across each of these channels, and breaking down the silos these exist in, has never been more important. So, what are the specifics features of omnichannel retail and commerce, and what benefits are brands seeing by introducing it?

What is omnichannel commerce?

Omnichannel commerce (or retail) is a shopping experience that is consistent and seamless across every platform. These platforms can range from apps and websites to social media and stores. Omnichannel commerce seamlessly integrates each of these channels to enhance the customer experience across all of them; no matter which channel a customer engages with your brand, they can expect a great, personalised experience across each.

Examples of omnichannel commerce

  • A customer looking for shoes may find the styles they like on a brand’s app, but go into a physical store to try them on. Brands adopting an omnichannel commerce strategy can share information such as liked items or those added to a wish list, and share this with the in-store sales assistant. They can then see the product they’ve browsed and offer a pair to try on, or offer a similar pair if they aren’t available in-store.
  • Websites can upsell particular products based on customers’ previous purchase history across channels. A customer purchasing a razor would later be sent shaving mirrors via email marketing or during the checkout process.
  • A user purchasing makeup products online will have specific preferences such as skin tone, undertone and coverage preferences. Brands can then interpret this data and present them with related products they can try in-store before purchasing, personalising their shopping experience.`
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What are the benefits of omnichannel retailing and commerce?

Boost sales, average order value, customer lifetime value and conversions

Seamless omnichannel shopping experiences are proven to provide greater sales and conversions. A study by Harvard Business Review had 94% of respondents say that the omnichannel sales model is as effective, if not more, than the previous established models.

Omnichannel experiences boost sales and conversions by providing customers with an enjoyable and intuitive experience, whilst simultaneously allowing businesses to collect actionable analytics from each channel. Brands are able to monitor their customer’s engagement in real time through every channel, and are then able to present them with recommendations based on that data to personalise their experience. This data driven aspect of omnichannel retailing and commerce enables brands to have a better understanding of their audience to lead to an improved shopping experience and more future engagement.

 

Improved customer experience and brand loyalty

No single customer is the same, with each engaging with brands differently. Omnichannel platforms enable commerce and retailers to personalise and improve the customer experience to build brand loyalty.

Omnichannel systems engage with each individual customer by not only providing their preferred platform, but by allowing them to seamlessly switch between them. Their shopping experience is personalised based on their own shopping data and is maintained between platforms. This data is also fed into further marketing related aspects such as emails and texts that sell products related to their shopping history, further building loyalty through personalisation and encouraging them to return.

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Enhancing omnichannel commerce with Attraqt

The advantages of omnichannel for retail and commerce brands are clear and profound; not only can it provide customers with an enjoyable and seamless shopping experience, but businesses can build brand loyalty whilst simultaneously improving efficiency and sales. Implementing an effective omnichannel strategy can be challenging for various businesses, which is where Attraqt comes in.

We have worked with industry leading brands such as Superdry and Harvey Nichols to enhance their retail and commerce experiences. Attraqt’s omnichannel commerce platform utilises AI-powered tools, self-learning algorithms and advanced merchandising to ensure automated and intuitive platforms. We work directly with brands to develop market-leading omnichannel strategies that grow revenue and increase conversion across every touchpoint and channel.

Ready to provide your customers with a seamless omnichannel experience? Visit our omnichannel page to find out more, or request a demo to experience our platform first hand.

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