Most would agree that seamless shopping experience across all channels is ideal. With omnichannel being the new industry order in retail world, brands are actively moving towards the adoption of the multi-faceted approach to get closer to the customer and provide immersive experience at every retail touchpoint.
And the reason is simple – Omnichannel works and here are few key findings from Medallia to distill any doubts you might have!
It meets customer expectations
Longitudinal study of customer behavior of one of the retail giants in U.S showed that only 7% of the customers used online-only channel, 20% shopped in a physical shop and the remaining majority of 73% (so called “omnichannel customers”) used multiple channels to engage with the retail brand throughout their shopping journey. Findings showed that omnichannel customers loved engaging with the retailer’s products through different mediums, which included mobile apps for price comparisons or coupon downloads & in-store tablets for product research.
It increases average order value and loyalty.
Customers are in charge and being able to deliver quality shopping experience to the end user through various touchpoints is challenging, yet rewarding. 87% of customers expect seamless shopping experience from retailers and the study reveals that the customers who use several retail touchpoints spend 4% more on every shopping occasion in-store & 10% more online than the single-channel customers.
For instance, online research on the retailer’s website resulted in 13% more spending on-site, in a physical shop. This clearly indicates the webrooming behavior in omnichannel shoppers, particularly among millennials.
Retailers with strong omnichannel are scoring higher retention rates. According to the study conducted by Medallia – Within the six months after the initial omnichannel shopping experience, customers were visiting the retailer’s outlet 23% more times and were more inclined to recommend the brand to friends and family.
“Buyers are demanding it.” – Brian Walker
Technological innovation has been shaping the retail the ways we couldn’t imagine, just several years ago “omnichannel“ was just a buzzword until Brian Walker (CSO @Hybris) told us in one of the forbes articles that “Buyers are demanding it.”
Now, we have lot of successful stories of omnichannel masterminds – Amazons and Alibabas spoiling consumers with choice, assortment of products and vast array of special offers & deals distributed to end customers through the wonders of fulfillment options.
Omnichannel isn’t going anywhere, it proved to be a successful long-term strategy and great investment in the future of retail so we might as well watch closely the brands that are pushing us forward into the future.