Omnichannel Retail Solution- A new-Age Marketing Strategy
The utilization of multiple sales channels to provide uninterrupted Customer Experience is known as Omnichannel retail. It allows businesses to connect with consumers at every touchpoint of the buying experience. However, when retail companies expand their business to online marketplaces, websites, social media, apps, etc., it meets the challenges of new-age markets such as points of sales, logistics, vendor and inventory management, digital disruptions, internal communications, order fulfillment, data analytics, customer satisfaction, brand loyalty, etc.
That’s where omnichannel solutions come in to provide innovative strategies that address the aforementioned retail business challenges. It becomes convenient for businesses to engage customers on multiple channels for increasing sales and traffic.
Benefits of omnichannel solutions
Retail companies that integrate interactive technologies, invest in consumer insights and map the entire customer journey are using artificial intelligence and chatbots to enhance their customer service.
To provide a seamless buying experience and make it super convenient for the customers, omnichannel retail solutions help in achieving certain benefits such as an improvement in efficiency, cost reduction, favorable work experience, happiness index, improved customer satisfaction, and sustained profitable income growth.
Starbucks does an excellent job at delivering a smooth customer experience. A Starbucks customer receives rewards points on his payments with a Starbucks card, whether a physical card or the online card. The mobile app and website are linked so it’s convenient for customers to find nearby Starbucks stores, send gifts, pre-order beverages, and receive an updated menu.
It has expanded to entertainment for providing a seamless experience by integrating Spotify which means customers can identify songs playing in the store, save and listen to Starbucks-curated songs via Starbucks Mobile App.
– It supports Omni-device retailing i.e, users can switch between multiple devices and resume their shopping from where they left off in the previous device. The integration of smart AI advertisements offers customers personalized recommendations relevant to their purchase behavior and preferences; driving aggressive sales and increasing purchase value.
– It provides retailers more leverage to build a magnanimous consumer base by offering multiple payment transactions offered at the time of purchase. Customers find that convenient, irrespective of the nature of payment platforms, such as in-store, online, or mobile applications.– Delivers an advantage to the retailers by incorporating social media platforms with their online store. As it improves customer engagement, especially when businesses offer effective loyalty programs and helps in tracking customers and improving brand image with the help of product reviews, user feedback, social media engagement, in-app games, etc. – Increases the visibility of the brand and its products and promotions; giving consumers an extensive and centralized database, accessible through any channel. For example Oasis, a U.K. fashion retailer. It has streamlined customer experience by using omnichannel retail solutions. Upon visiting their stores, one can find all the sales associates holding iPads to provide their customers accurate, and updated product information on the spot. They also register their payment details over the IPad and if anything is out of stock at the store, the staff can immediately place an online order so that the customer can receive the order directly at their homes. Customers can enjoy their shopping experience over Oasis’s app, website, and social media platforms. – It enhances customer lifetime value by making the onboarding process easy and faster, sending value-packed marketing content, and offering seamless 24*7 customer service at every channel. With consistent omnichannel marketing solutions, customer retention rates are increased as it provides a variety of means to the customers for the buying process.
– It detects common pain points and offers a personalized experience across all platforms. And enables retail companies to segment existing customers as per their transaction history. If brands incorporated Omnichannel solution then they can offer vouchers in-stores or online and obtain an inbound link that allows the customer to use it on any device or channels they were shopping on. Whether it’s a desktop, tablet, or mobile phone, customers can use this digital coupon instead of any printed form or use the printed voucher codes for online discounts.– Boosts functional efficiency and reduces costs by obtaining customers’ data all at once, so that businesses don’t have to develop and execute solutions for every channel. Also, Increases sales and improves inventory turnover by empowering businesses with a holistic overview of their inventory, and the ability to accept orders from all the channels. -Interconnects the in-store and online experience; generating sales, revenue growth and providing purchase options on any channel that a customer chooses. Many food outlets such as McDonald’s or KFC offer discounts to their customers on their mobile apps or websites which can be redeemed only at the store simply by showing the associated staff your discount codes on your phone. Omnichannel retail solutions align each aspect of the business to work together. Whether is its brand reputation, customer support, sales, feedbacks, reviews, merchandising, inventory or enterprise. The combination within online and offline retail stores fetches the highest quality of product and service for consumers.
Why choose locobuzz for omnichannel retail solutions?
Locobuzz is a platform that provides Omnichannel channel retail solutions and enables retailers in optimizing sales and marketing operations. It develops the business into a customer-centric brand and empowers customers with a unified shopping experience by centralizing user experiences from brick-and-mortar to mobile browsing and everything in between.
Locobuzz incorporates Social Listening tools, modern communication, ticket management, etc., in its strategies and provides customer insights, a holistic view of customer engagement, and customer insights. It empowers effective contextual engagement by providing access to the customer data such as interactions history contact information, sentiment insights, and NPS to recognize the level of the customer journey.
Omnichannel solutions in the retail industry reinventing the customer journey and offering companies and their consumers improved strategies of engaging. Companies such as Amazon, Sephora, Disney, and Starbucks have lifted the benchmark for omnichannel experiences. To keep up with that pace, it’s time smaller retail organizations start to evolve and combine their businesses with the help of omnichannel solutions.
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