Omnichannel defines the way in which customers use several different methods to buy products (i.e. mobile devices, tablets, and computers). Retailers are heavily focused on creating a seamless consumer experience on any platform. It is not an easy task.
Consumers want to buy products when and where they need them, as well as receive them quickly. Organizations are trying many different methods to keep up.
A new study by Capgemini Consulting shows that almost all retailers are shifting their business strategies in similar ways to meet the needs of the Omni-Channel customer experience.
The study showed four main pillars to a successful Omni-Channel strategy:
- Inventory Visibility: This includes inventory accuracy, location, and management. Retailers are building methods to effectively track and manage inventory in their network. This should decrease shipping time and increase customer satisfaction.
- Web-Ready Products: Retailers need high-quality information and images about the goods they sell. They want to reduce the amount of time and labor required to bring an item to market.
- Predictive Customer Analytics: There is a lot of customer information available online today, but companies want to take it to the next step. More information will be needed to anticipate the needs of customers and enhance the Omni-Channel experience.
- Fulfillment Strategy: The study revealed this was the most important strategy retailers are implementing. To support the Omni-Channel experience, businesses are revising processes, modernizing technologies, and updating physical infrastructure. This is all to get products to the consumer faster and more reliably.
The exact future of the Omni-Channel is unclear. Many say Mobile information is going to explode in importance since everyone’s phones know so much about them. One thing is for sure, retailers will have to implement serious infrastructure changes to adapt to the changing market.
The study revealed that many retailers are using 3PL’s to get ready for Omni-Channel. Logistics providers typically have superior technology, transportation expertise, and more efficient ways to ship products. To learn more about the benefits of a 3PL, view our post titled, Why Do Companies Use 3PL’s?
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