Article | November 10, 2017

Growth Opportunity In Omnichannel For Retailers

Omni-Channel Growth Not Enough

More than halfway through 2017, sales have been swift for retailers, thanks largely to the variety of avenues through which consumers can buy. In July, for example, retail sales rose 3.5 percent year-over-year, according to the National Retail Federation. Additionally, online sales rose an unadjusted 11.4 percent during the same period.

Retailers can chalk up these gains to improved consumer sentiment and customer satisfaction, as well as an emerging trend regular shoppers are taking advantage of when it's available.

WHAT IS OMNICHANNEL?

Omnichannel marketing is a strategy designed to improve the buying experience by creating uniform conditions across a multitude of purchase lines. For example, going online to shop is popular thanks to its convenience and efficiency. However, it may not carry all the benefits that come with brick-and-mortar shopping. Through omnichannel optimization, retailers can synchronize the shopping experience so there's more consistency across all purchase platforms.

It's little wonder omnichannel is growing in popularity, as today's buyers are taking advantage of the plethora of buying outlets available to them. Indeed, according to the Harvard Business Review, nearly 75 percent of shoppers use multiple channels when conducting transactions with retailers.