Why Omnichannel is a Must for Retailers
Online retail is driving brick-and-mortar companies out of business, and impacting several industries across the board. The Cheatsheet listed some of those business last year: Borders Books, Tower Records, and Circuit City, to name a few. Many other businesses are struggling as a result of e-commerce gaining mainstream adoption. The fact is many legacy businesses didn’t respond fast enough to the changing landscape of retail. Don’t let that happen to you!
The surest way to remain competitive in this century and to maintain your leading edge in retail is to ensure that you reach your customers where they are–online and off line. Omnichannel retail is here to stay, so here’s how to make the most of it for your retail operation.
- Link your e-commerce gateway with your back end operations, distribution and delivery chain, and your order fulfillment functions.
- Keep inventories and prices up to date both online and in your brick-and-mortar store with one centralized system.
- Maintain real-time analytics on all of your key performance indicators.
- Fight fraud with your own rules manager.
- Develop customer relationships across all of your channels so you can know when and where your customers shop, what they buy, and how much they spend in your brick-and-mortar stores as well as your web store.
- If you do consignment sales or vendor direct delivery, include third-party integration into your e-commerce gateway.
- Track the location and status of all merchandise no matter which channel a customer uses to order it through.
- Keep eyes on all of your operations from end to end.
Omnichannel Retailing is No Long Just an Option
Retailers in virtually every sector are going down because they have not adopted an effective e-commerce strategy. Omnichannel retailing is not just an option any more. If you want to survive the next round of shakeups, you’ll need to develop your web store. The best way for brick-and-mortar retailers to win at e-commerce is to establish an e-commerce gateway that integrates with your web operations and your brick-and-mortar operations so that you can get eyes on all of your retailer operations and have real-time information at your fingertips 24/7. There’s no better time to start than now.