As discussed a few times here on the blog, this year retailers will really need to start making more of integrated marketing technologies in order to get a better understanding of individual customer behaviour across both physical and digital outlets. By developing multi channel retail solutions which create seamless interactions across all of their retail touchpoints, they can keep ahead of the competition and provide the sort of service that today’s tech-savvy shoppers expect.
Whilst establishing an effective multichannel offer was a key strategy for retailers wanting to hold onto their market share last year, it won’t be enough to maintain that place in 2017. They should now be looking at more ways to extract value from the technology and what it reveals about their customers – and then applying that knowledge to provide a unified customer experience, both online and in store.
Speaking to Retail Week, Managing Director at VoucherCodes.co.uk, Claire Davenport, explains why it is so important for multichannel retailers to acknowledge this information and act now:
“Retailers now operate in a world of tech-savvy, channel-agnostic consumers who expect an experience with any brand to be seamless across mobile, web and in-store.
“Facing ever-decreasing brand loyalty from consumers, retailers can win through the coherence and quality of service across all consumer touchpoints.”
Why are multi channel shoppers so important?
Tailoring services to multichannel shoppers is going to be key in 2017. But why is it so important? According to a recent report from payment service provider, Worldpay, consumers who shop both online and in-store will spend between 50-300% more than those who shop solely via a single channel.
But implementing new strategies won’t be straightforward. There are currently many obstacles to prevent retailers from immediately adopting multi channel retail solutions, as Davenport explains:
“There are, of course, barriers within organisations that will prevent an immediate shift to a truly omnichannel approach, however, smart companies are plugging the gaps in their offering by working with third-party providers who are able to provide technological and data-driven solutions.”
Speaking about her own business approach, Davenport told Retail Week how VoucherCodes.co.uk utilises location technology in order to analyse consumer shopping behaviour, and highlighting the impact of digital content on physical retailing. She asserts that this has become incredibly effective in enabling retailers to connect the dots between digital spend and online footfall, as she explains:
“…After all location is to mobile what the cookie is to desktop [and] retailers who can create an omnichannel shopping experience for their shoppers will thrive.”
“Online and offline siloes will need to work as one unified retail team in order to succeed in 2017 and beyond.”
Is your retail business ready for the challenge?
Image source: Wikimedia Commons