Let’s consider the state-of-the-art of omnichannel retail, as detailed in a recent index that the National Retail Federation, in conjuction with the FitforCommerce digital consultancy, released to describe the best practices in the retail industry. With mystery shoppers and cross-channel analyses, the groups investigated a sample of 120 retailers. Their findings reveal some key insights.
First, about half of all retailers with physical stores allow consumers to check their in-store inventory on their mobile devices or make that information available on their websites. In addition, less than half of them insert in-store signage that encourages consumers to consider omnichannel options, such as suggestions that they reserve a product online.
Second, their online offerings are diverse. Approximately one-quarter of them allow online purchases followed by in-store pick up services; half of them provide free return shipping; and about three-quarters have a “click to call” feature to connect online shoppers with service representatives.
Third, across the different platforms, 84 percent of the retailers allow users to interact with their shopping cart through the various channels. Another 60 percent let shoppers begin their shopping, then save items in their digital shopping carts for purchase at some later time.
These statistics and the accumulated evidence strongly suggest that omnichannel, rather than being a differentiator, is becoming a necessary capability for modern retailers. Consumers simply expect to be able to find retailers on multiple channels, in line with their daily practices, in which they switch seamlessly across physical, mobile, and online interactions.
With the assessment that omnichannel is inherent to modern retailing, the report also suggests that the next big thing on the horizon is the emergence of the Internet of Things. Smart devices (e.g., appliances, vehicles) can radically expand the number and variety of channels that allow consumers to interact with retailers. Some cutting-edge retailers already are testing these options. For example, Amazon’s Dash service allows users’ smart devices to place orders automatically and conveniently for their owners.
Discussion Questions:
- What are retailers doing to make their operations truly omnichannel?
- Which of these initiatives are most important to you? Why?
Source: Dan Berthiaume, Chain Store Age, October 1, 2015