In today’s complex multi – channel scenario many retailers are searching for a competitive advantage to reduce costs and improve their sales. Consumers have not only become more demanding, but their own means of purchasing have evolved increasing competitiveness and business performance. Now, more than ever, organizations need to adapt to new business methods to increase customer satisfaction level, such as investing in omnichannel, which integrates physical and virtual stores as well as warehouses and consumers.
According to data of the Aberdeen Group, companies with high interaction with omnichannel clients retain, on average 89% of its customers, compared to 33% of companies with low interaction, and organizations with very high interaction with omnichannel consumers notice a 9,5% increase in annual revenue, compared to 3,4% of the companies with low interaction. That means that, more than ever, the client has the last word.
To meet customers’ needs, retailers must deliver the goods in a short time, regardless of where those clients buy. The success of omnichannel starts, precisely, by the creation of a unique vision of inventory in all stores and distribution centers, aiming at meeting customers’ expectations and providing the logistics team better warehouse management.
For example, if a customer buys a product online there is the option of collecting the product in a physical store, without too much bureaucracy. During a visit to the store, the customer can verify the stock in other stores of the retailer, if he/she cannot find the desired options. The fact is that the client wants ubiquity, the ability to be everywhere!
This strategy of Omnichannel allows the shopkeeper to provide the customers with exceptional experiences, guaranteeing they buy from any location, at any time. This not only brings good relationship with the client and the organization, but it also implies many other benefits for logistics.
Check out the 5 main benefits of investing in an Omnichannel solution and guaranteeing the best results:
#1 Best customer service
An in-store fulfillment poorly executed results in high order service operating costs, is it not? Well – aligned strategies, as the ones offered by omnichannel, are needed to reduce risks associated with warehouse management.
This enables unique visibility into all orders and inventory available throughout all distribution network, including call centers, retail stores, suppliers, and even in transit orders. In this way, it builds customers loyalty, reduces inventory control as well as delivery costs and improves on time deliveries
#2 Approach stores to customers
Imagine being able to manage each order on each channel from a single centralized platform? Executing an omnichannel solution enables management of orders distributed with a set of rules and separation processes. If this already creates a customer satisfaction index, think about being able to deliver on the same day?
Once stores are closer to consumers, same day delivery becomes a reality – this can be done by constantly keeping inventory up to date.
#3 Improve product profitability
A well-defined omnichannel strategy increases product profitability. For example, unmoved inventory in the store, is managed to meet online demands.
The customer’s order has arrived and the product can already be shipped, either to be collected from the physical store or sent directly to the customer’s home, depending on the service order.
#4 Improve the goods flow
Accuracy and real-time visibility of inventory have also a positive effect on the supply of stores, which have more reliable information. Timing also improves, enabling more efficient goods flow throughout the chain.
An effectively managed supply chain enables speed and efficiency to meet operational goals and higher customer expectations. In this way, inventory will hardly ever be zeroed out.
#5 Customer loyalty
Connection with consumers is key to loyalty. Today, customers are not loyal to a brand, but to an experience. Investing in a retail solution is an essential strategy to build buyers’ loyalty to the brand, exceeding their expectations in the buying experience.
Once the first shopping experience is good, consumers will always want to come back. Moreover, the probability of recommendation will be much higher considering that the ratings have a significant impact on the company's performance. That is to say that what the customer talks about, can have a direct impact on sales.
It can be noticed that industry does not simply revolve around a physical place, but it is about involving all the possibilities of buying, according to the requirement of the consumer, who wants to buy anywhere, at any time, according to their resources.
In that way, using a complete system, retailers can make omnichannel a reality. Sharing inventory with all the company enables retailers to think strategically, improve company performance, and finally make the customer experience unique.