Why retail needs to foster seamless omnichannel experiences

Recent research sees almost 80% of retailers admit to failing to offer customers a unified brand experience. And as for those trying, just half believe they are moving at the necessary pace.

Additional research finds that 90% of the Australian shoppers that Shopify surveyed say they are buying at the same rate, or more, in-store as they were the previous year.

Even though the COVID-19 pandemic has seen a number of permanent digital changes, the current retail landscape still values bricks and mortar stores because consumers are continuing to buy through a range of offline channels, too.

But how do retailers manage operating multiple channels to keep all their customers happy and meet them where they want to be met? The simple solution is omnichannel.

Why omnichannel is the new greatest strength

Customer preferences are becoming more varied, and the touchpoints on the purchasing journey are multiplying as consumers awaken to the draw of new experiences and a growing desire to shop through social media. As a result, omnichannel sales strategies are fast becoming the method of choice for retailers.

One key driver, and a finding reflected in recent research, is that customers spend more on brands with a smart omnichannel strategy. However, just 22% of retailers make omnichannel a top priority.

Measuring single variables like efforts focused exclusively on mobile, marketing, or merchandising strategies may be easier, but integrating all of these touchpoints into a holistic omnichannel approach is the only way to realise the full potential of each touchpoint.

Shopify's research shows younger shoppers in Australia are much more receptive to new touchpoints, such as shopping for products directly through a brand's social media account.

Further, commerce has a stronger future if consumers can access what they want to buy anywhere they want to buy it. Think of it like the counter in a physical store: The more counters you have available, the higher the turnover of customers you can serve.

In Australia, almost one-third of businesses think that social media sales will account for the largest portion of their business by 2030, according to Shopify's research.

Ultimately, giving customers choice is the best way forward. Retailers that hold themselves back by only offering one or two channels, or lack the necessary seamless integration across various channels to follow customers from one touchpoint to another, may face barriers when it comes to seeing significant growth.

How to achieve this

Every omnichannel customer journey comes with various pathways, and the retailer has to establish and curate each of these to some extent.

First, a retailer must ask, which platforms, channels, and devices do my customers use every day? If you can work out the places to meet your customers, you're off to a great start in building a solid omnichannel retail strategy.

When figuring out which channels are the best for your company's strategy, look at factors such as where customers like to hang out and what experiences motivate their everyday lives.

The second task is to make sure that every possible touchpoint is shoppable, which may seem complicated or daunting but is entirely achievable. All it comes down to is ensuring consistency between channels. For example, if a customer adds a product to their cart from an online retail store, that product should also appear on the retailer's mobile app.

When it comes to physical stores, customers like to know whether something is in stock before they walk in the door. The 'click and collect' model, which has become significantly more popular in the wake of the pandemic, can also be a major contender here. Customers may wish to add products to their cart on the way to a shop and expect them to be ready to pick up when they get there.

Shopify recently introduced local inventory sync as part of the company's partnership with Google, a feature that allows merchants to inform nearby customers automatically when a product is available in-store, simplifying shopping and consumers' ability to support local. Strategies like this have grown consumer engagement with brands both online and offline, which makes it all the more important for retailers with strategies that include offline sales to connect their online components with the physical store element. Retailers need to do more than simply have a presence in both areas if they want to ensure sale ownership when it happens.

Shopify also recently launched more than 100 product updates in its latest Editions showcase. These updates intend to improve merchant innovation to extend their own longevity and include Shop app and one-page checkout enhancements, which will assist merchants in growing conversion while the world faces challenging economic conditions. These improvements will also offer a long-lasting advantage over competitors.

But will I benefit from it?

If you're still unconvinced, let's lay out the key benefits of an omnichannel strategy.

• Optimise stock levels and enhance inventory management with ease

Firstly, creating an omnichannel strategy allows businesses to better understand their inventory and fill orders from anywhere.

• Get the competitive edge

Shopify's research shows roughly 80% of shoppers in a physical store browse online channels before or during purchase decisions. Offering a seamless online and offline shopping experience is also likely to boost customer loyalty.

• Improve customer experience

The third area will also grow customer loyalty as customers want options in how they interact with brands. Using an omnichannel strategy will allow them to interact on different channels and get a consistent experience, making them more engaged and satisfied with the outcome.

• Boost sales

Not surprisingly, having multiple channels available also increases the chances of making a sale, as businesses can reach a larger customer base. This also improves customer lifetime value. In fact, one Shopify analysis found that omnichannel shoppers spend 20% more than single-channel consumers.

• Personalise customer journeys

Retailers can create more personalised shopping experiences because omnichannel strategies make it easier to capture customer data and create in-depth customer segments.

• Create a unified brand experience

Using an omnichannel approach simplifies creating consistent brand experiences throughout all channels, which can build trust, resulting in greater customer loyalty.

Coming out of the COVID-19 pandemic and adjusting to new ways of working and new expectations can be tough. But omnichannel strategies are the future of retail, and Shopify has everything businesses need to succeed.