Brick, Click & Beyond: Omnichannel for Retail

Recent studies have confirmed that traditional brick-and-mortar shopping retains a significant preference among a majority of consumers. Let’s look at the statistics (Source: Forbes)

• 76% of global retail sales—that’s US$21.9 trillion out of US$28.7 trillion—are expected to still take place offline by 2028, per Forrester.

• 48%, or AU$15 billion, of Australian online non-food sales in 2023 still involved physical touchpoints like click-and-collect, per the Ecommerce Delivery Benchmark Report.

Yet, the evolving shopping behaviors demand that physical stores level up by integrating omnichannel strategies. This means blending various ways of interaction and transactions throughout the customer’s buying journey. Here’s what the data tells us:

• 80% of customers expect bots and AI to improve experiences, per Verint.
• 52% believe AI can improve customer service, per MarTech.

In Australia ( Source: Channellife.com.au)

o?? Almost 40% of consumers under the age of 45 use social media for product research.

o?? 31% recognize the value of AI in streamlining order and delivery updates.

o?? 28% feel AI can simplify product research.

Despite the increase in online research and brand comparison, it’s observed that the final purchase is often made in-store. This allows consumers to physically inspect the product. The convenience and speed of options such as click-and-collect or pick-up points are favored for completing transactions, despite the preliminary selection being done remotely.

Among younger consumers, many who shop online show a preference for in-store returns to expedite refunds or exchanges. This highlights the necessity for retailers to adopt a comprehensive approach to customer engagement across all channels.

This presents a significant opportunity to deliver a customer experience (CX) that not only engages but also intensely satisfies customers. Retailers may already be implementing aspects of an omnichannel strategy without full realization.

For example, engaging customers through SMS, email, or other channels about sales or new arrivals forms a part of omnichannel strategy. Retailers can also inform customers when a product in their preferred size or color is available and direct them to the nearest store for pickup. By tracking customers’ social media activities with their consent, retailers can gain valuable insights for inventory planning.

Therefore, even retailers without an online sales channel can benefit from an omnichannel approach. Initiating this transformation can be as simple as consulting with a CX specialist to explore how to maximize benefits for your business.