Retailers must constantly be changing their business models to remain competitive in global markets and outperform their competitors. Indian retail industry is going through rapid transformation brought forth by factors like e-tailing and eCommerce. In the wake of the changing landscape, going digital opens up new horizons for the business whether it is a mom and pop store or an established brand.
Reasons to invest in digital
- 525 million and growing internet users in India
- Rising mobile commerce, with 83% of smartphone users making purchases through their mobile phones
- Because India is home to the world's largest population of millennials who are excessively tech-savvy and prefer digital engagements and communications
- With 90% of people using their mobile phones in stores to look up reviews, do price comparisons and find more information on the products
- Also, 70% of Indian customers prefer to engage with digital kiosks and other devices rather than sales associates for in-store activities
Boundaries between brick and mortar stores and online storefronts are collapsing due to the improvements in data analysis and predictive analytics. Customer journey encompassing a complete lifecycle from discovery to loyalty is becoming increasingly complex due to digital. Technology is playing a major role in enhancing customer experience and this presents a huge advantage to companies to gain first-mover tech advantage. Technology is impacting both the front end and back end of retail. Some of the things that technology is aiding retailers to do:
Customer Experience across channels and multiple touchpoints: Customers are increasingly engaging in cross-channel journeys. For example, a customer in the market for jackets can start their journey by engaging with your site/app or alternative marketplaces to browse for jackets. Having shortlisted a few designs, the customer might visit the nearest store to try on the jacket. In the store, the customer can compare the in-store price to the price on Amazon or Flipkart. Finding the price satisfactory, the customer would then move on to buying the product. They might prefer a different color of the jacket, which if unavailable currently in the store, they would prefer to get shipped to their home address from a different store. Retailers not only need to be prepared to enable such complex multi-channel integrated journeys but also they need to delight customers along the way.
In order to provide such complicated journeys to customers, brands need to:
- Have an online presence, either in the form of a site or a mobile app
- Be not only present on marketplaces but also be in control of the inventory and brand image on such external platforms like Amazon and Flipkart
- Have a single view of inventory of all merchandise across all stores at all times
- Have an appropriate supply chain set up to enable direct shipping from stores
- Have a single view of customers across all channels. They need to be consolidating the data about their customer from multiple sources in a customer data platform (CDP)
- Be able to sufficiently empower store associates with the customer’s likes, dislikes, and recent wants so that they can recommend the right product at the right time
Intelligent merchandising and promotions: Let's consider another customer journey, a loyal customer who has been buying from the brand both online and offline for about a year visits to the store. The retailer has a lot of information about the buying patterns of this customer and their choices of merchandise. The customer walks into the store and the store rep automatically pulls up the customer information. There are specific recommendations and offers for this customer customized as per their taste and preferences. Aided with this information, the store rep can easily close the sale. The customer is happy because they didn't have to browse for long and got exactly what they preferred at a customized offer.
At home, the customer realizes that they should have brought the other shirt that was recommended by the sales rep as well, so the customer quickly logins to the mobile app/store website. Logging in, they click on recommendations and find the same shirt that they had missed out on during the store visit. They quickly order it and find the same custom offer applicable on checkout as well. They keep coming back to the store for such seamless experiences further building on loyalty. They might even refer the store to their friends and family.
In order to provide such a personalized one to one buying experience to the customer, the company needs to be able to:
- Ensure product information and offers are consistent across platforms
- Make sure they use artificial intelligence to come up with a personalized up to date recommendation list for every customer
- Have a single view of customer’s online and offline purchases
- Not only do intelligent clienteling but also provide personalized offers to go with it
Optimized business operations: Any disruptions in receiving, storing, or delivering inventory creates errors and delays that negatively impact the customer experience. Retailers need an all-encompassing view into inventory across stores, warehouses, and distribution centers. They need to be able to turn their stores into mini fulfillment hubs, provide journeys like BORIS (buy online, return in-store) and BOPIS (buy online, pick up in-store).
At omuni, we have created a suite of products that will help you not only bring these astute and differentiated journeys seeking customers to your stores but will help you provide exceptional service to convert these into loyal brand champions. At omuni we don’t think of your brick and mortar operations to be different from your eCommerce engagements, instead, we believe that the online and physical stores are both extensions of customer engagement, offering additional means to engage with customers while strengthening both the channels simultaneously.
Schedule a demo today and go digital at the highest scale within 2 weeks.
Our playbook for digital engagement of your customers
Six innovative ways to transform your business model, engage customers, and stay competitive in the new normal. Go digital for the first time with strategies that fully harness the power of these omnichannel technologies.
Modernize your store operations with omuni.one
One interface for all things store—a clienteling app that enables store associates to quickly serve customers. The features enable store associates to find customized customer recommendations, place orders via endless aisle & save the sale transactions.
Build omnichannel enabled eCommerce website through omuni.site
Once store operations are modernized, the next step is to build your online presence. We can build websites within two weeks with optimized search, built-in personalization logic, integrated online-offline services, marketing, and loyalty programs.
Master selling on marketplaces with omuni.xyz
Having a website is not enough. Customers buy from multiple alternatives like marketplaces. We give you complete command over the inventory of the marketplace while enjoying unified order management and fulfillment from store.
Bring customers to your newly designed website and omnified stores/marketplaces with omuni.campaign
Our cross-channel campaign management system enables you to run SMS, email, and social media campaigns from one dashboard. The tool is built on a unified 360° customer data platform which enables you to get better actionable insights in running campaigns.
Retail your customers with omuni.club
Our cross-channel loyalty management solution enables you to offer dynamic promotions and vouchers that your customers want, and when they want it.
Make smarter decisions about your operations with omuni.bi and omuni.ai
Our cross-channel advanced intelligence system is powered by data, not just a blind strategy. Our analytics solution enables you to get cross-channel recommendations that improve your existing operations and aids you in making better decisions.
Schedule a demo today to change your business model and remain competitive in global markets. Get rapid transformation with e-tailing and eCommerce—whether you’re a mom-and-pop store or an established brand.
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