What are the emerging trends and technologies that will shape the future of omnichannel retailing?

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Omnichannel retailing is the practice of providing a seamless and consistent customer experience across multiple channels, such as online, mobile, social media, and physical stores. It is different from multi-channel retailing, which simply means using more than one channel to sell products or services, but not necessarily integrating them. Omnichannel retailing requires a high level of coordination and alignment among various functions, such as marketing, sales, inventory, logistics, and customer service. In this article, we will explore some of the emerging trends and technologies that will shape the future of omnichannel retailing and how you can leverage them to gain a competitive edge.

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James Johnston, MBA, FCIM

Turning Ideas into Profitable Businesses | Board Member and Strategic Adviser | Leading Market Penetration and…
Madhu Joshi

Global Brands: We execute India -GTM & Sales Plans.Launch your brands @ Retail/Online - CE,IT, IoT, BioTech, Gaming…
Mauricio A.

Operations and Alliances Executive, CPA, Vendor Relations, Generative AI user.

1 AI and personalization

Artificial intelligence (AI) is a key driver of omnichannel retailing, as it enables retailers to collect, analyze, and act on large amounts of customer data across different touchpoints. AI can help retailers create personalized offers, recommendations, and experiences for each customer, based on their preferences, behavior, and context. For example, AI can use facial recognition, voice assistants, chatbots, or smart mirrors to interact with customers in real time, offer relevant suggestions, and enhance the shopping experience. AI can also help retailers optimize their pricing, inventory, and logistics, by predicting demand, forecasting sales, and automating tasks.

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Mauricio A.

Operations and Alliances Executive, CPA, Vendor Relations, Generative AI user.
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In my experience, chatbots can be used to automate repetitive tasks, reducing the workload on human agents, allowing them to focus on higher-value interactions and strategic tasks. Chatbots can handle routine inquiries and basic troubleshooting, freeing up human agents for complex issues, leading to faster resolution times. Chatbots provide round-the-clock assistance, answering basic questions and resolving simple issues even outside business hours. This enhances CX.

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2 Mobile and social commerce

Mobile and social commerce are two of the fastest-growing channels in omnichannel retailing, as they offer convenience, accessibility, and engagement for customers. Mobile commerce refers to the use of smartphones or tablets to browse, research, or purchase products or services online, while social commerce refers to the use of social media platforms, such as Facebook, Instagram, or Pinterest, to discover, share, or buy products or services. Both mobile and social commerce allow customers to shop anytime, anywhere, and with their friends or influencers. Retailers can leverage these channels to reach new audiences, increase brand awareness, and drive conversions, by offering features such as mobile payments, QR codes, augmented reality, live streaming, shoppable posts, or social proof.

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3 Omnichannel loyalty and rewards

Omnichannel loyalty and rewards are another important trend in omnichannel retailing, as they help retailers retain and grow their customer base, by rewarding them for their engagement and loyalty across multiple channels. Omnichannel loyalty and rewards programs allow customers to earn and redeem points, coupons, or discounts, not only for their purchases, but also for their actions, such as signing up, referring friends, writing reviews, or sharing content. Retailers can use these programs to incentivize customers to shop more frequently, spend more, and try new products or services, by offering personalized and relevant rewards, based on their preferences and behavior. Omnichannel loyalty and rewards programs also help retailers collect valuable customer data and feedback, which can be used to improve their offerings and customer service.

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4 Unified commerce and cloud

Unified commerce and cloud are two of the enabling technologies that support omnichannel retailing, as they help retailers integrate and streamline their operations across multiple channels. Unified commerce is the concept of using a single platform or system to manage all aspects of retailing, such as product information, inventory, orders, payments, fulfillment, and customer service. Cloud is the technology that allows retailers to access and store their data and applications on remote servers, rather than on-premise hardware or software. Both unified commerce and cloud help retailers reduce complexity, costs, and risks, by eliminating data silos, improving data quality and security, and enhancing scalability and flexibility.

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Madhu Joshi

Global Brands: We execute India -GTM & Sales Plans.Launch your brands @ Retail/Online - CE,IT, IoT, BioTech, Gaming, Lifestyle Luxury. Get your brands' India Revenue estimate done.DM to Book a Call.
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India is building the largest Unified Commerce through ONDC. It's not a platform but a protocol that unites the Buyers, Brands, Retailers ( 12million) through cloud, physical delivery partners across India. Fintech companies enables million transactions /day and there's no requirement of high-end softwares at least at the buyers's side. Watch this space and ONDC and soon it'll reach other countries.

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5 Sustainability and social responsibility

Sustainability and social responsibility are two of the emerging values that influence omnichannel retailing, as they reflect the growing awareness and demand of customers for ethical and environmentally friendly products and practices. Sustainability refers to the ability of retailers to minimize their negative impact on the environment, by reducing their carbon footprint, waste, and resource consumption. Social responsibility refers to the ability of retailers to contribute positively to society, by supporting causes, charities, or communities that align with their values and mission. Retailers can demonstrate their sustainability and social responsibility across multiple channels, by offering products that are organic, fair trade, or recycled, by adopting green packaging or delivery methods, by donating a portion of their profits or products to social causes, or by engaging with their customers and stakeholders on social issues.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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James Johnston, MBA, FCIM

Turning Ideas into Profitable Businesses | Board Member and Strategic Adviser | Leading Market Penetration and Expansion | Developing Partnerships and Closing Deals
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Emerging technologies like Virtual Reality (VR) will redefine the shopping experience through immersive environments and personalized product visualization. Artificial Intelligence (AI) will empower hyper-personalization and predictive analytics, further enhancing the customer journey. Finally, the move toward the omniverse will seamlessly connect physical and digital channels, creating a unified customer experience.

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Saurabh Pande

Advisor - helping organizations in Sales & Distribution | Ex Circle CEO | Senior Leadership | Telecom | FMCG | Retail | Strategy | Business Operations | General Management | P&L Management | Singer | Bollywood Music
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- Integration will offer continuity and consistency of customer experience. 1)Technology - E Commerce, IOT - Greater reach, speed, convenience - Increasing discoverability of On Line Stores, ordering using on line catalogues, - Supplier agnostic content, transparent pricing, real time payments, Streamlined shipping process. 2)Globalization - Transforming Cross Border Trade - Implementing cross channel marketing Strategies - Streamline cross border payment technologies 3)Automation - Increased Effectiveness – informed decisions about shipping, staffing, warehousing - Increased Efficiency – Better planning, Reduced Opex

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What are the emerging trends and technologies that will shape the future of omnichannel retailing?

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1 AI and personalization

2 Mobile and social commerce

3 Omnichannel loyalty and rewards

4 Unified commerce and cloud

5 Sustainability and social responsibility

6 Here’s what else to consider

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