7th October, 2021 | 7 min read

How Omnichannel Will Shape The Future Of Retail

The retail industry is struggling to keep up with customer demands for omnichannel experiences. Omnichannel isn't a new concept; it's been around since the late 1990s, but it has certainly evolved throughout the years.

The importance of omnichannel retail

The future of retail is shaped by a brand's omnichannel capabilities. Retailers that embrace this new reality will win big—and those who don't will be left behind. The best time to start preparing for the omnichannel era was yesterday, but better late than never! In fact, because your customers are already there, you can't afford to not get started now.

How the consumer is evolving

The global pandemic once again brought attention to the role of retail stores in the retail industry. This spotlight was due to the fact that physical sales were limited when social distancing and store closures occurred. Curbside pick-up, flexible store environments, buy online, pick-up in-store (BOPIS) protocols – these new norms have helped fuel a recent surge of in-store adaptation and innovation. As brands look for new ways to maximize the customer experience and adapt to a rapidly changing world, they should consider looking back at the past.

Ideally, brands could make their in-store presences more adaptable and give their online shoppers a more personalized experience. This connectivity effectively brings both sides closer together, aligning the processes that prevent brands from achieving effective and efficient omnichannel synergy.

The importance of a unified customer experience

If a customer is unhappy with your brand, it is very likely that they have not had a seamless experience during their interactions with the brand across multiple touch points and devices. A ‘unified customer journey’ approach holds immense potential for brands. Having a well-orchestrated omnichannel strategy will ensure that customer convenience is always treated as the topmost priority.

Senior VP for Partnerships and Strategic Initiatives at Shoppers Stop, Tony Navin, in his 2015 interview to Fortune India, said, “E-commerce and physical retail are no longer two separate silos. They are integrating, so we are like a mall with multiple delivery options.”

This statement resonates across industries today catering to the new-age consumer and stresses the increasing need for brands to adopt an omnichannel marketing strategy, irrespective of where and how they choose to shop.

The future of retail will be all about speed...and you'll need to keep up!

As per Oracle consumer research, 71% of customers favor speed of service and checkout ease when deciding whether to continue shopping with a retailer. This preference makes a compelling case for implementing mobile checkout and self-service tools at physical stores, creating a similarly streamlined online shopping experience. Going one step further, retailers can equip their store associates with customer data and trends, empowering them to deliver similarly engaging, personalized recommendations to returning shoppers.

To wrap things up

With the rise of social media and online retailers, consumers are demanding a seamless experience when interacting with brands. By offering omnichannel retail solutions, clients can provide their customers with more ways to interact with them and purchase products. If you would like to learn more about mirrAR, the new omnichannel for jewellery industry, click here to learn more or write us at mirrar@styledotme.com

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