A new report reveals how customer-centrism is becoming the focus of the omnichannel experience, with retailers moving towards providing quality of consumer experience over quantity of sales channels. 'The Race for Omnichannel Excellence' by SAP shows how retailers are positioning themselves right now and how they are looking to the future.
'Omnichannel' is an increasingly popular approach to e-commerce, in which retailers aim to give their customers a seamless shopping experience across all and any sales channels they use, whether these are online or offline.
Businesses are becoming used to providing an omnichannel offering to their customers, with 86% of businesses surveyed agreeing that the benefits of investing in such an approach clearly outweigh the challenges. These benefits include increased sales (as cited by 74% of respondents), increased consumer loyalty/acquisition (64%), and a competitive advantage (62%).
However, the omnichannel challenges have a clear trend: how to use data. 49% cite getting the most out of data/analytics as their top current challenge, with value and optimisation being among retailers’ key concerns.
"In order to optimise consumer intimacy, depth of insight gathered from one channel is more valuable than a shallow view across all channels."
But what lies ahead for businesses in 2015?
With 84% of businesses not yet optimising their omnichannel approach, 42% of respondents state that innovation is their main priority in the next twelve months, closely followed by optimisation (or 'providing the best quality of consumer experience').
Moreover, the perceived competitive differentiators for businesses over the next two years include 'quality of consumer experience' and 'integration of channels', which stride ahead at 66% and 60% respectively.
Consumer intimacy is clearly the standout trend for retailers in 2015, with depth of experience and more thoughtful use of data providing a competitive edge to businesses.
Download 'The Race for Omnichannel Excellence' here.