Although many stores were working on an omnichannel transformation before the corona crisis, omnichannel stores currently comprise more than half of the entire retail landscape. In this article you’ll read more about the sprint that omnichannel has made in the world of retail.
Does Omnichannel Really Pay Off?
Besides the fact that omnichannel retailers are now in the majority, research shows that 34% of retailers only have a physical store and 10% only sell online.
But does it really pay off to have an omnichannel strategy and (also) sell online as a company? Yes it does! For example, 34% of all Dutch retailers with only a physical store saw their sales increase in 2021, compared to 48% of e-Commerce retailers.
Broadening Your View
Along with the use of multiple channels, online advertising has also taken off. A quarter said they were very positive about advertising on social media. But the developments in e-commerce are moving at lightning speed. It’s expected that technology will increasingly become a differentiating factor for a personalized shopping experience. The next step is to use WhatsApp as an additional marketing channel. You can read more about that here.
In today’s retail world, consumers not only -want- a consistent and engaging shopping experience, but they -expect- it. So to perform well, companies need to broaden their view beyond product data. Here, the combination of different data-driven insights comes together to create the perfect experience for new and existing customers.
Understand Your Customer
But with more technological developments, also comes responsibility. Privacy laws are getting stricter, and consumers are becoming more aware of their data use and privacy online. But they also still expect service and relevance.
With the disappearance of third-party cookies, it becomes a challenge for marketers to keep track of customer data. Building a good relationship and eventually a long-term relationship with your customers will become even more important. This will ensure that (potential) customers will want to share their information of their own accord. If you understand your customer well, you can optimize your marketing budget and gain valuable knowledge.
Conversation24 makes it possible for companies to offer an entire omnichannel strategy. In addition, WhatsApp has been added to this as the newest e-commerce channel as an additional marketing channel. Discover all the possibilities now.