In the brutal and cut throat world of retailing, limiting yourself to one medium or channel of selling and customer addressing isn’t enough to cause a substantial ripple in your sales figures. Not only that, vendors operating on a single channel retail window will also face issues in customer satisfaction index as single channel retail doesn’t exactly tell you all that much about buying habits of customers.
Now there is no fool proof way to know for certain about what the customer is going to buy next but with the help of Omni channel retailing, you do narrow down the field of view substantially.
Effects prior to introduction of Omni Channel Retailing
Omni Channel retail is a bigger concept than one can conceive. It is a way of interlinking services and products under one roof and is used by a number of businesses today. But prior to its introduction, there were some significant bottlenecks but to fully grasp the idea of this, you have to belong to the two categories of shoppers
- Those that use the convenience of an Online market place
- Those that have firmly believe in the reliable brick and mortar retail system.
You see, both of these systems have their own major flaws.
The traditional system is old and proven but given how busy our lives have become, it is difficult to take out time and actually dedicate it to the whole mundane activity of driving to the mall and browsing the exhibits, only to have a sub-standard shopping experience or getting the desired item at all. On top of that, if by some miracle you did get the product and for some reason the product doesn’t hold up to expectations, then it is a repeat of the above process all over again just to get a replacement or a refund.
On the other side of the pond, online shopping does save you a lot of time and seems much more convenient than the traditional way. But is it really? Well for starters, in many regions, delivery does take up an awful lot of time, even though it delivers to your doorstep. And there is a very high chance of getting misled by the product info and having the wrong kind of product getting delivered to you. Either way, if you didn’t get it right the first time around, waiting for the replacement to arrive takes much longer.
As you can see, both of them have some serious flaws that hamper the experience of the customer and that’s the last thing that you want after spending millions on building a brand or a shopping portal and getting dissatisfied customers.
Birth of Omni channel retailing
So with that said, the idea of Omni channel retail took precedence and with that came the emergence of Omni channel retail companies. Now almost all major brands and retail portals have started to adopt Omni channel retailing as a means to conduct business world-wide and it is quickly becoming a common practice among retailers from developing nation too. What has been mostly impacted though is the way that customers interact with products and services now and as a result, shopping is a much more pleasant experience altogether.