In a recent report of MIT, it has been projected that the Omni-channel consumer will be the driving force influencing the future of e-commerce as well as brick-and-mortar stores. The stiff competition among online players has influenced brick-and-mortar retailers to make their online presence stronger through E-Commerce, social media and mobile apps.
According to Macy’s annual report, the heritage brand now already refers to itself as an “omni-channel retail organization operating stores and websites.” This has created a strong competition in between the online retailers. According to a report from Tata Consultancy Services (TCS) on retail operations benchmarking it has been clearly stated that the remarkable growth rates of more than 15%, has caused the large retailers to focus on non-store channels to reach tier-2 and tier-3 cities including remote areas where there is no brick-and-mortar presence.
The Omni-channel concept
Omni-channel is the most modern concept which will dominate the market scenario in future. It will provide you a magnificent opportunity. With your mobile you can carry a store with you when you walk in and out of a physical shop. This has a revolutionary impact on local retail. And it will offer you the advantage of finding out anything anywhere. It will also make you able to transact anywhere, and fulfill anywhere. So this has a great impact on retail marketing and consumerism. A shopper will have a new experience of reinventing a physical retail store.
A large brick-and-mortar retail store is more or less a warehouse with the trappings of a front office. These new systems will give a consumer more flexibility in buying more or less items, and offer a newer and advanced retail experience. There will be more organized systems in distribution, Fulfillment, and discovery. This system and environment will also allow the new firms to compete with the reputed and centralized companies that virtually dominate the retail sector both in online and offline market.
In an Omni-channel approach, a company is able to avail a higher level of facilities which provides opportunity to purchase across various channels, integrating the physical stores with online websites, apps, tablets and social media. The customer can continuously experience a brand through this approach.
The Omni-channel consumer’s expectation levels are also high. They want everything to be readily available including an equally accessible brand experience. As per MIT’s report, 80% of store shoppers check prices online and one-third of them utilize their mobile device to check the information while shopping inside the actual store. This research result indicates the consumers have rising tendency to approach their experience from various angles and platforms.