Omnichannel retail has become a bit of a ‘hot-topic’ among retailers. This is especially true of retailers that sell online and in physical stores. Most people think omnichannel is just the modern version of multichannel however, that’s not totally true.

Multichannel describes a scenario where products are sold through multiple channels, but those channels are independent of each other. On the other hand, omnichannel is about ensuring multiple channels are connected, so the customer can move between them freely.

What Is Omnichannel Retail?

Omnichannel retail is the idea that wherever a customer interacts with your business, they will have consistent, seamless and personalised experience. This is true for online and offline interactions. Customers shouldn’t have to choose between shopping online or in-store, they should be able to do both quickly and easily, even for a single transaction.

Some real-world examples of omnichannel commerce include:

• Buying a product online and picking it up in-store
• Returning a product bought online to a local store
• Checking stock online before driving to a store
• Buying an item in-store and having it delivered to their home
• Collecting loyalty points on in-store purchases and spending them online
• Receiving personalised offers and promotions based on purchase history

Channels like ‘online’ and ‘offline’ no longer matter to the customer, they simply see your business or brand. The knock-on effect is they expect to be able to shop with you in the most convenient way at that particular time.

Personalisation is also a key factor in omnichannel retail. If you are using unified commerce software (EPoS, eCommerce, RMS and CRM all-in-one) customer data is collected from all channels in real-time. This allows retailers to serve personalised offers, promotions and product recommendations. The result is better customer loyalty and higher average order values.

Benefits of Omnichannel Retail

There are a number of benefits to retailers that adopt this omnicommerce approach, not least that customers have better retail experiences. Unified commerce software will give you a full view of your retail operations, enabling you to deliver omnichannel successfully. The benefits of having this overarching view include:

• Decisions are made using data – collecting data from all your retail channels and analysing them in real-time gives you better business insight, enabling you to make data-driven decisions. From which stores perform best to which products need re-stocking you have all the information you need.
• Customer experiences are improved – as we said previously, an omnichannel approach enables you to personalise the customer experience and deliver a seamless shopping journey. This leads to happier and more loyal customers.
• You can make more sales – if you are offering your products for sale online and in-store you are creating more opportunities to make a sale. Using the right software, you can offer in-store collect and returns to offer more convenience and gain an advantage over your competitors.

How Can Retailers Become ‘Omnichannel’?

Making the move to omnichannel retailing takes time and planning, but it can be achieved. The starting point is mapping out customer journeys to understand where improvements need to be made. Do you need to improve online experiences, in-store experiences, or both?

With this information, you can build a plan of action. This might include buying new retail software or upgrading your eCommerce website. Just remember, the aim of omnichannel retail is to connect your systems and offer seamless customer experiences. The best way to do this is to purchase an all-in-one unified commerce platform that runs all of your retail operations.

Conclusion: Embrace the Omnichannel Trend

Omnichannel is the new approach to retail that business owners must embrace. Customers no longer see channels, and want to shop where they want, how they want, when they want. The only way to meet customer needs is to ensure that your business is open 24/7. This means making your products and services available online, in-store and over the phone.

To do this your sales channels must be connected, and running from one central system. This allows customers to move easily between channels, for example buying online in the evening and picking up in-store the next day. Upgrading your software to a unified commerce platform is a great place to start, and will enable you to meet customer demands now and in the future.