Retail IQ
Omnichannel - To be or not to be. That’s no longer the question.
For retailers, omnichannel is no longer optional. Customers no longer shop exclusively online or offline. They expect to shop online, pick up at physical stores, or purchase in-store and have items shipped elsewhere. Nowadays, customers demand the flexibility to shop anytime and receive orders anywhere.But are retailers truly prepared to deliver a good customer experience in this omnichannel landscape? Customer satisfaction isn’t built solely on product quality or price, it can easily be undermined by poor delivery service, impolite responses, or unmet expectations that the brand has promised.
Recently, a friend of mine, a working mom with a demanding corporate job and two boys under eight, shared how her favourite kids clothing brand had failed her. During the end-of-season sales, she filled her online shopping cart with nearly 30 items, preparing for the routine of having a destroyed pair of jeans every other week. She was thrilled to save time browsing stores, secure great back-to-school deals, and get good value for her money on the sales.
But, when her order finally arrived, after a much longer delivery time than expected, only seven items were shipped. The other items were out of stock. The formerly happy customer lost confidence in the brand and will likely take her business elsewhere.
How did this happen? Well, it’s not enough to have the brick & mortar stores, an online store, and a delivery service. They need to operate together seamlessly. The most critical challenge in an omnichannel approach is stock visibility across the supply chain, which becomes increasingly complex as more channels are introduced. Retailers need consistent information and accurate visibility of stock across all channels. This is only achievable with integrated business operations supported by systems that provide a central source of truth and deliver this information across all channels.
At Retail Consult, we have extensive experience implementing the Oracle Retail Omnichannel Suite for a wide range of retail brands worldwide. It provides an end-to-end platform that places the customer at the core of all retail operations, enabling them to engage with the brand whenever and however they prefer, creating experiences that meet customer expectations and desired outcomes.
Enabling cross-channel integration can help reduce the time it takes to resolve customer complaints and increase the accuracy of customer data, helping employees better understand customer needs and preferences. Additionally, it provides store employees with real-time access to data, not only for in-store inventory but also for warehouse and other store inventories, helping customers find exactly what they’re looking for. A true omnichannel experience is delivered by bridging online and offline interactions through a fully integrated systems architecture that work seamlessly across all channels. This allows customers to purchase products from anywhere, at any time, and in the way that best suits them.This approach not only enhances the shopping experience but also to avoid missing information, prevents missed information and less-than-ideal experiences for both the retailer and the end customer.
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Fernando PessoaThe outbreak of COVID-19 has created a time of both personal and economic uncertainty. On March 9, 2020, Retail Consult implemented a work-from-home, remote workforce model to protect our employees, clients and partners. Most of our clients and partners are also working from home. Working collaboratively we have been able to safely and productively continue our business activities and we will continuity and innovation to navigate this time of crisis together!