Retail’s Perfect Complement: Omnichannel Approach for Efficient E-commerce Operations
Shoppers have been spending less each and every passing month due to the high inflation rate and according to Forrester’s latest research shoppers spent $73.7 billion online in July, a dropped from the $74.1 billion spent in June. It is being the case, retailers need to find ways to avoid shoppers who are willing to make purchases facing inconvenience due to frictions. Customers are less patient and understanding with the problem they have with a retail brand online, mostly because of inaccurate information and out-of-stock. Retailers can cope with e-commerce issues by having the right strategies and technologies to step ahead of their competitors. It requires an ongoing commitment to adopting digital-centric practices that provide the agility and flexibility to meet expectations. With the right unified commerce framework in place, retailers can take proactive steps toward fostering new pathways to profitability and loyalty. Here are three tips for retailers to succeed in online shopping.
Retail brands have already been challenged with managing inventory accurately and accessing the correct information and as the sales channels vary, controlling inventory is getting harder by using legacy systems existing. Imagine that a shopper goes into an e-commerce store, wants to buy a product that seems to be unavailable online and checks other stores’ stock, and finally finds a store where this specific product is available. The shopper goes to the store with the motivation of making a purchase, yet the product is unavailable in the store as well and unfortunately, the customer leaves the store empty-handed and dissatisfied.
The omnichannel approach eliminates such-like situations that lose sales even if the product might be available at other stores or warehouses. With the right technology adoption, retailers can unify their inventory in a single hub, see their statuses if they are not available to sell, make and control inventory available to sell at any desired sales channel and it makes each inventory available to sell and increase their profitability.
Shoppers are indecisive with the increase in sales channels and tons of products, and they have trouble finding what they are looking for. To increase the chance of sales opportunities, retailers need to be everywhere where there customers are. From the operational perspective, being able to manage all sales channels and ever-growing marketplaces need a logical and comprehensive platform for retailers. Right order management systems enable retail decision makers to have a holistic view of each sales channel including stores, webshops, and marketplaces in a single place of control and manage the entire inventory allowing set buffers and allocating stock availability for each channel that automatically increases sales, and customer experience accordingly.
While being able to make each inventory available is a game changer for retailers, the shopping experience continues until it is delivered to customers’ hands. The true omnichannel platform enables customers to track where their orders are in real-time giving them the trust they are looking for. Once the customer decides how they want their order to be delivered; last-mile delivery, same-day delivery, standard delivery, or even click & collect, the order is fulfilled from the most optimal location based on cost, time, and distance and making sure that both customers and retailers’ expectations are met right away.
Shopi’s Omnichannel Order Hub solves not only e-commerce frictions but all sales channels that the retailers are challenged enabling them to have full control over their operations, allowing them to manage each sales channel and their stock availability accurately with real-time visibility and smart order routing functionalities. While customers get what they want, retailers can enjoy fulfilling customers’ needs and increasing operational efficiency. Contact us to find out more about what Shopi’s Omnichannel Order Hub can offer to solve daily operational challenges with a robust platform.