4 Reasons to Become an Omnichannel Business

If you’re looking ahead to the future of your retail business, you should see omnichannel in your headlights. With a streamlined in-store process flow and integrated systems that make shopping a dream, you’ll be well on your way down the road to success. But, without a road map, why should you set off on this journey?

Omnichannel is not only a smart business move, it also ensures that you’re satisfying your customer’s desire to see brick-and-mortar retail stores move into the future. Here are just 4 of the reasons omnichannel will prove essential to your business’s ongoing success. 

Customer Expectations

Consumer behavior is what makes brick-and-mortar stores relevant today. Customers are looking for and buy experiences, not just products. As their behavior changes, so does real estate. Stores must evolve to keep up with customer demand. So what demand is being created? In today’s world, everyone has smartphones and are always connected — giving them the ability to complete a purchase anywhere. This digital presence has altered expectations — consumers expect stores to deliver the same product assortment and ordering ability they get online. These connected shoppers use their phones to validate pricing and information while in store. To keep up, retailers must equip their stores with technologies that provide these added values. 

84 percent of shoppers used some type of digital device during their most recent store trip.

Online Sales Opportunity

To remain competitive with the ever-growing presence of online retailers, brick-and-mortar retailers must have an online presence too. The more online channels the better; create social media profiles for your business displaying contact information and operating hours. Register your store locations on Google maps so customers can easily find your store. Most importantly, you need to have an e-commerce website where customers can browse your inventory, see product availability and pricing, and transact. By offering a variety of options including Buy Online Pick-Up In Store, Reserve Online, Pick-Up In-Store or Buy Online Ship to Home, customers can get what they want, when they want, how they want it. These online touch points will bridge your shopper’s experience — browsing online and into your store — creating a seamless picture. 

Grow In-Store Sales

It isn’t all happening online. Pure-play online retailers are still establishing footprints, think Amazon acquiring Whole Foods. Physical stores still play a significant role in the retail industry. Only 12.6% of total retail sales were transacted online in the first half of 2017. To grow in-store sales, retailers must consider the broader omnichannel journey shoppers experience. For starters, using Dropship and Endless Aisle will create consistency between the in-store and online experience. With the ability to offer every product to their customers, even if it isn’t physically in-stock, shoppers can browse and ship products directly to their doorstep. An e-commerce site will provide customers an avenue to pre-shop”, that is research online to inform their in-store purchases. With this comes the ability for customers to buy online, pick up in store. All these increasing your in-store sales.

Retailers can recover 68% of out-of-stock incidents if associates are prepared to offer shoppers the option to order the items before leaving the store and have them sent to their homes.

Make Yourself Future Ready

With technology and consumer expectations changing so readily, it’s important to set yourself up to be adaptable and able to evolve for the future. Today, it’s all about Buy Online, Ship to Home — having an e-commerce solution that connects your customers to your brand when they’re at home or at work. The next trend may include integrating AI, VR, Chatbots, or technologies we aren’t even aware of yet into your retail experience. To be ready for any changes, having technologies that exist on open APIs will make integrating with future systems that much easier. That way, you can remain adaptable, competitive and provide memorable experiences to your customers.

Want to see how integrated retail solutions can help you become the store of the future? It all starts with employing a software that can connect it all.