Today, a customer interacts with a brand in several ways: on a website, through a mobile app, in a physical store, through Voice Assistants, on social media etc. While a brand or a retailer might see this as different channels, from a customer's perspective it's a single entity they are interacting with. To stay ahead of the competition and grow their business, brands will need to create a unified, connected and integrated customer experience. This will involve aligning the messaging, content, objectives, and design across multiple channels and devices to deliver a seamless experience.
According a report, businesses that adopt omnichannel strategies achieve 91% greater year-over-year customer retention rates compared to business that don’t
In the coming years, with the evolution of IoT and AI, there's expected to be a surge in commerce and engagement channels. Think ordering food from your refrigerator or a washing machine display panel or using Voice Search on your smartphone to interact with a support team. When that happens, it becomes even more imperative for brands to ensure a consistent and connected customer experience.
Furthermore, here are some of the upcoming trends that will shape Omnichannel Commerce in 2020 and beyond:
Mobile commerce already plays a critical role in a customer's omnichannel journey. In fact, by 2021, smartphones are expected to account for 54% of total ecommerce sales, accounting for $659 billion in sales. To leverage this massive opportunity, brands will need to invest in enhancing the core user experience by investing in mobile-first technologies like PWAs to improve load times, reduce bounce rates and increase conversion rates.
A large number of brands are seeing the benefit in creating a cross-over purchase journey that leverages the best of online and offline worlds. The 'Click and Collect', and Buy Anywhere and Return Anywhere models have shown to vastly improve conversions, minimize loss of sale and increase overall sales. This can be mostly attributed to the model's ability to remove certain friction related to online shopping, like the lack of 'touch and feel'. The key to enabling a seamless 'Click and Collect' experience is an intelligent Distributed Order Management system that can maintain a unified inventory across multiple warehouses, distribution centres, and stores.
Although ecommerce has grown by leaps and bounds, traditional stores will likely remain a dominant retail channel for a long time. The reason is fairly simple: several traditional retailers are borrowing best practices and digital technologies from the ecommerce realm to offer a stellar customer experience. Some examples include tablet-based Endless Aisle platforms, in-store kiosks, AI-powered footfall counters, computer vision-based loyalty programs, interactive digital signages, Augmented and Virtual Reality.
Enabling a superior hyperlocal commerce is a challenge, and even ecommerce giants like Amazon and Flipkart have struggled with it; thereby rendering it the next big frontier for most brands. Hyperlocal commerce is expected to play a vital in the omnichannel strategy of brands as it enables them to bridge the online/offline gap by matching demand with the nearest available supply in the fastest and most optimized manner. The key to cracking the hyperlocal commerce opportunity is to ensure personalized and localized product range, promotions and pricing for every customer based on his/her location. On the delivery side, brands need to have the technology that enables them to map the shortest and most cost-effective way to fulfill an order.
While ecommerce platforms were able to create highly personalized product recommendations and content, this was not the case with physical stores. However, as more customers started expecting the same consistent, personalized experiences across both digital and physical channels, several traditional retailers are now investing in computer-vision technologies and deep-rule based promotion engines to bridge the offline/online gap and recommend the right products at the right point in the customer's omnichannel purchase journey
Capillary Anywhere Commerce - An Ecommerce Platform Designed for Omnichannel Success
Capillary's Anywhere Commerce is a truly omnichannel commerce platform designed to help brands adapt and stay ready for the future of commerce. The ecommerce solution makes it easy for brands to deliver fast, easy and connected experiences across any offline/online channel, anytime! The AI-powered ecommerce software lets you deploy seamless, personalized mobile commerce experiences with PWAs, order anywhere/pickup anywhere/deliver/return anywhere with a unified Inventory Management System, and improve in-store conversion rates with a cutting-edge Endless Aisle solution.
Managing the ecommerce platform is a breeze, thanks to ready-to-use vertical libraries, modular architecture, and drag/drop storefront customization. The platform's API-based architecture ensures easy integrations with any POS, logistics, payment and ERP partners. Hosted on AWS platform, the platform boats of 99.9% uptime and supports enterprise level scalability. Anywhere Commerce is trusted by leading brands like KFC, TUMI, Levis, Asics, Pizza Hut & Samsung to deliver truly world class omnichannel experiences.
Disclaimer: This is a promotional article. The New Indian Express does not take any editorial responsibility for it.
