Omnichannel Retail : Pains and benefits

Omnichannel Retail is a multichannel approach to sales that seeks to provide the customer with a seamless shopping experience whether the customer is shopping online from a desktop or mobile device, by telephone or in a bricks and mortar store.

“I want us to stop talking about digital and physical retail as if they’re two separate things. The customer doesn’t think of it that way, and we can’t either. Customers just want us to solve their everyday problems with an easy, seamless shopping experience.”

Doug McMillon, CEO of Walmart

Failure to adopt a multi-channel strategy: On Line shops, Web to Shop and diversify with new products, would have severe impact on your organization:

  • Customer attrition: Digital media is driving prices to their lowest threshold. Customers can now easily compare prices and products on Internet and mobile before they go shopping
  • Loss of customer and brand loyalty
  • Threat to business survival

You ought to consider seriously re-assessing your Omni-channel infrastructure if you identify with any of the following:

You are Encountering one of the following issues
COO ¨  Loss of foot traffic in stores

¨  Customer churn

¨  Loss of revenues

CMO/CDO ¨  Failure to adopt a multi-channel strategy: On Line shops, Web to Shop and diversify with new products

¨  Unable to provide customers an overall inclusive experience with all channels

¨  Unable to create unique, brand-defining experience that keeps customers coming back

¨  Failure to weave mobile into customers journeys in ways that add value and encourage cross-selling

¨  Failure to engage consumers via social media towards the favorite brands

CIO/

Enterprise Architect

 

¨  Lack of integration to ensure that a customer purchase process will flow seamlessly across the information systems: e-Commerce catalog, payment services, order management services, fulfillment services etc.

¨  Inability to federate identity across systems. Throughout the purchase process, the customer’s identity needs to be recognized and security of payment flows needs to be ensured.

¨  The current system architecture does not allow for future development and deployment of new services in the most agile manner.

¨  Inability to provide technical and business indicators such as : number of users per store, number of visits per user, rate of conversion from product scan or flash discount to payment

You should consider the following capabilities when looking for a solution:

  • A solution that integrates vertical and horizontal systems to provide an end-to-end solution
  • Enablement of a  360° digital strategy, embracing mobile app development, on-line catalogs and eCommerce, mobile wallets, social media engagement, and an integrated system architecture
  • Allows you to publish APIs easily and securely, to seamlessly connect your OMS, WMS, MPS, EDI platform, together and with your customers and suppliers etc.
  • Allows you to publish APIs securely for consumption by user apps such as shopping companions for consumers, or inventory management for warehouse personnel.
  • Connects your salesforce, ServiceNow and so on in one click.
  • Allows you to follow on your customers engagement. Monetize their usage. Know how many users have converted a flash campaign to purchase, and how many have scanned for a product info without purchasing it.

Retail organizations have reported the following business benefits by using a clear API and APP development strategy :

  • Achieved ROI in ❤ months with millions of  consumer users
  • High performance / availability ensured  fast response time and created a better customer experience
  • The use of digital devices became a synergistic platform to emotionally engage with their customers
  • By creating emotional connections with consumers the company stands now apart from its competitors

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