Although customers frequent brick-and-mortar stores more often, they are not willing to compromise on the digital experiences that have evolved over the last few years.
McKinsey research confirms that Gen Z, in particular, doesn’t even think about traditional channel boundaries, and they increasingly evaluate brands and retailers on the seamlessness of their experience.
To succeed, retailers must embrace omnichannel communication and understand trends to transform customer engagement in retail.
What is an omnichannel retail strategy?
An omnichannel retail strategy is a customer-centric approach that delivers a unified and consistent brand experience across multiple sales and communication channels.
These channels can include traditional mediums such as email, voice, and SMS, as well as digital channels, social media, messaging apps, and live chat.
An omnichannel retail strategy can involve synchronizing online and in-store inventories, offering buy online, pick up in store (BOPIS) options, or implementing customer relationship management (CRM) tools to track customer interactions across all platforms.
The key is engaging customers by providing a unified experience.
So, although multiple channels are being used, your business can still offer a consistent and cohesive customer experience.
This means that a customer can start a conversation with your brand on one channel and continue it seamlessly on another channel without repeating information – improving their overall experience.
Omnichannel retail journey example
Example how our customer data platform unifies information from your POS, ERP, CRM, loyalty programs, website visits, mobile app visits, and more.
Single-channel, multichannel, and omnichannel retailing
You can tell the difference between the three by looking at the words. But let’s break down the terms anyways:
Single channel retailing: A retailer focuses on selling through only one channel. This could be a traditional brick-and-mortar store, an online website, or direct sales. Single-channel retail is simple to manage and has lower costs.
However, it has limited reach, and you risk missing out on customers overseas chinese in worldwide data who prefer different channels.
Example: A local bakery with a storefront.
Multichannel retailing: A retailer uses multiple channels, including a physical store, a website, mobile apps, social media, etc. It has increased customer reach and potential for higher sales.
However, potential inconsistencies can happen across channels.
Example: A clothing retailer with a website and a presence on social media platforms (but they function separately).
Omnichannel retailing: It takes place on multiple channels, just like the multi-channel retail strategy, but an omnichannel approach connects all channels for a fully integrated shopping experience with a seamless transition across various platforms.
Example: A department store where you can use the app to check in-store availability, order online with in-store pickup, and have your loyalty program recognized across all touchpoints.
Omnichannel retail trends for 2024
// Trend 1: Increase digital engagement
Many businesses today use voice and email as their primary means of communicating with customers. The first step for them to meet consumers where they are today is to increase digital engagement by adding additional communication channels.
Notably, social media.
Gen Z now uses social media to research brands more often than they use search engines.
Statista reported that global sales through social media were at an estimated 992 billion US dollars in 2022, and by 2026, this number will reach 2.900 billion US dollars.
This means that your shoppers want to explore your products, interact with your brand, and make purchases on their social media apps.
