Let’s face it, technology is changing. Gone are the days of merely just relying on finding a certain product at a reasonable rate at a retail store, buying it, and calling it a day. Nowadays, we as consumers embrace digital technology and use it in all stages of our buying journey. Consumer expectations are fundamentally changing just as technology is, furthermore expanding the different channels retailers do business. Rather than sit back and wait for sales to slip away, many retails fought back by creating a seamless shopping experience through both offline and online channels, also known as omni-channel. Essentially omni-channel retailing concentrates on making the buying experience easy for the customer, whether that’d be through a mobile app, computer or even the radio. Simply put, omni-channel retail integrates a brands presence across all possible channels, whether it’d be online or offline.
Omni, Multi or Single?
Omni derives from the word omnis, meaning all or universal. This comes in comparison to other other categories retailers use, like “multichannel”, meaning multiple or many. Although similar, multi channel retailing and omni-channel retailing differ. Multi channel essentially is an operational view, how a retailer allows the customer to complete transactions in each channel. Omni-channel is viewing the user experience through the eyes of the customer, orchestrating the user experience across all channels so that it is smooth, seamless and consistent, it links all channels together giving the customer a complete brand experience without having to navigate between channels. Some call the omni-channel system an evolution of the multi channel retail approach. Another channel strategy not as much used anymore is single channel retail approach. The Single channel approach merely just focuses on a single means of reaching customers, therefore not making it as popular in today’s day in age. Simply put, omni-channel is the future of the retail and slowly becoming the next best thing. The winners of tomorrow are the businesses that implement an omni-channel experience, today. The key is a seamless shopping experience.
Omni in Retail
Omni-channel has definitely changed the way retailers do business, especially the software and various platforms it’s implemented on. To recap, using omni-channel retail software yields a variety of pros that can fundamentally change the way a business operates for the better. Think about it–shoppers want options. The majority of potential customers will research a product before purchasing it in-store or online, the option to do so seamlessly creates a loyal customer. With special omni-channel software, necessary steps can be taken to enhance business by analysing data from customers and making changes where needed. Focusing on just omni-channel retail as a whole, it’s still relatively new for most retailers, but without a doubt it’s most definitely the future of retailing.
Our Accord Momentum EPoS solution supports full Omni-channel retailing. Find out more- Omni-Channel