In such a dynamic market, it is essential that firms engage and communicate with their customers at various points. Customers want businesses to be available at all times and in all places, from internet platforms to physical storefronts. This explains why Omnichannel eCommerce has existed and soon become the future of this sector. According to research by Statista, nearly half of eCommerce decision-makers in Europe and North America consider omnichannel strategies to be extremely significant. Moreover, after adding one more marketplace, retailers using a single branded eCommerce site, such as BigCommerce, reported a 58 percent boost in income. Therefore, it is no exaggeration to say that an Omnichannel Strategy will be a must-have for any company seeking success and wishing to stand out from the crowd. And if you are interested in this subject, let’s keep reading to learn more!
1. What Is Omnichannel eCommerce?
Omnichannel eCommerce is a strategy that focuses on giving customers a consistent purchasing experience regardless of where they shop. Customers can start up where they left off and carry on their experience from one channel to the next. According to Harvard Business Review, 73 percent of all customers use multiple channels during their purchase journey.
Previously, retailers used to employ the sales funnel method to persuade clients to shop at their physical locations. However, multiple touchpoints, such as websites, social networking sites, digital marketplaces, native mobile apps, and progressive web apps (PWAs), have supplanted the traditional strategy, allowing firms to be present in front of customers anywhere and at any time. Besides, it also eliminates any distinctions between online and offline sales and marketing channels, resulting in a united whole.
2. Why Should Businesses Consider Omnichannel eCommerce?
Increase Customer Loyalty: Customers base their purchasing decisions on their interactions with brands. Thankfully, an omnichannel eCommerce strategy connects all platforms, resulting in a seamless, memorable, and long-lasting experience. Furthermore, businesses have the opportunity to learn about their customers' journeys and preferences. As a result, this strategy provides greater rewards for acquiring more customers for these brands.
Better Data & Metric: Adopting an omnichannel approach (as opposed to a multichannel approach) helps in the consolidation of data coming in from various sources and eCommerce channels. It gradually improves business intelligence reports by providing improved data sorting and analysis. As a result, businesses can gain insights into how to create content and offers that will encourage their customers to shop more - not just online, but also in physical stores.
Boost Sale: Businesses can benefit from omnichannel eCommerce development by increasing sales and revenue. According to a study of 46,000 shoppers, omnichannel customers spend more money than single-channel customers. Moreover, the omnichannel shoppers spent more money in the store with each additional channel they used. Take the example of our Japanese client, Kinokuniya, the largest bookstore chain in Japan, with 56 shops around the country. Acknowledging the benefits of the omnichannel strategy, they reached SotaTek to build a new platform to boost digital sales and deliver better services to customers.
3. Which Technologies To Integrate Into The Omnichannel eCommerce?
It will be difficult to switch your marketing strategy from single or multi-channel to omnichannel which takes a lot of time, effort, and resources. This decision, however, if made wisely, has the potential to outperform existing corporate results. Thus, the retailer had better require their Software Development Partners to leverage the right technologies that power the omnichannel strategy while implementing this transformation. And below are some suggestions:
a. Internet of Things
People are probably accustomed to the term “Internet of Things”, which connects and exchanges data with different devices and systems. According to research, the total number of IoT-connected devices is predicted to reach 125 billion in 2030, with an average customer owning 15 devices. This indicates insane growth potential for omnichannel eCommerce in the near future.
Omnichannel shops can boost the visibility of their offerings and collect precise data with real-time verification by running targeted advertisements or designing PWAs for IoT devices like smartwatches, smartphones, smart speakers, and other wearables. Insights gained from them can be used to create customized feeds and marketing recommendations. Furthermore, through networked, audio-video-capable smartphones and other devices, IoT opens access to worldwide markets.
b. AI Integration
Another cutting-edge technology that can be integrated into Omnichannel eCommerce is Artificial Intelligence (AI). This innovation can aid in providing users with the most relevant recommendations. For example, when online shoppers search for and filter items, AI can predict and recommend based on previous purchases and preferences. It is impossible to deny that a recommendation engine has the power to make or break an eCommerce business. A good one can keep customers interested in your eCommerce platform for a long time.
Chatbot development has become essential in all areas of software development, including eCommerce platforms. More and more eCommerce companies are looking for IT professionals to help them implement this technology in their mobile apps, websites, or PWAs. Chatbots can help them in a variety of ways, including serving customers 24 hours a day, relieving employees of complex problems, increasing efficiency, and saving money. As a result, Chatbots can be an extremely useful tool in the development of Omnichannel eCommerce.
d. Mobile App Development, PWA, POS
To blur the lines between physical stores and online platforms, it is recommended to offer digital payment solutions and AI-powered point-of-sale terminals, even in offline stores. Proximity payment solutions are also gaining acceptance among retailers.
Moreover, it would be insufficient if not integrate Mobile App Development or PWA to offer a seamless experience to customers. While PWAs are less expensive and allow for offline use, eCommerce native apps can connect with third-party providers or create Push Notifications. They both, however, have the potential to disrupt major POS applications and other retail associate platforms by delivering a rapid, more efficient, and cost-effective way for store employees to locate products online and in-store, enable self-checkout and service returns and save the sale directly from their smartphone.
4. Wrap Up
To conclude, Omnichannel eCommerce can bring about various benefits for businesses, not only serving customers’ demands but also contributing to the brands’ growth. Therefore, it is high time for businesses to abolish the conventional selling method and transform it into this new trend!
Are you ready to expand your business with a tailored omnichannel eCommerce platform? SotaTek is here to assist you. As a top Software Agency in Vietnam, our 700+ in-house employees have accumulated a large amount of valuable experience and knowledge through former projects and collaborations. By combining the latest technology, we provided the best Tech solutions for numerous eCommerce organizations, supporting them in increasing brand engagement and revenue. You can take a look at our previous eCommerce projects, such as Q Cells, Maydocsach, etc. Our experts ensure to bring highly customizable needs that fit merchandising and eCommerce requirements, CRM, customer data storage, and analysis. Now, let’s contact us to learn more about our all-inclusive services!