Convergent Commerce: A New Powerful Solution for Omnichannel Retailing

The Rise of Omnichannel Retailing: How Retailers are Meeting Customer Expectations with Convergent Commerce

In the digital age, customers have come to expect a seamless shopping experience across all channels. They want to shop in-store, online, or on their mobile devices at their convenience. To meet these evolving customer needs, retailers have been turning to omnichannel retailing, which integrates all channels into a cohesive and consistent shopping experience.

Omnichannel's origins date back to Best Buy's use of customer centricity to compete with Walmart's electronic department in 2003. The concept is 20 years old and still needs to be solved for many retailers.

Implementing an effective omnichannel strategy is essential for retailers looking to become or remain competitive and meet their customer's expectations. A survey by esw.com found that 90% of customers expect a consistent shopping experience across all channels. Moreover, customers are more likely to become loyal and make repeat purchases when they have a positive omnichannel experience.

"Omnichannel retailing is about providing customers with a seamless shopping experience, regardless of the channel," says Sarah Perez, a retail consultant at RetailNext.

However, creating an omnichannel strategy can be a complex and challenging task for retailers. That's where "Convergent Commerce" comes in to help. It is a solution that combines all aspects of omnichannel retailing, including inventory systems, order management systems, and customer service, into a single, well-architected platform. That allows retailers to streamline their operations and provide customers with a consistent shopping experience across all channels while also leveraging fundamental technology principles that maintain flexibility and allow innovation now and in the future.

Convergent Commerce offers critical benefits for retailers, including:

• Reports are anticipating a 20% boost in revenue for organizations providing a robust, unified omnichannel experience.
• Supporting features like buy online, pick up in store” (BOPIS), which are increasing to over 67% of shoppers using it since the pandemic.
• With 57% of consumers using personal voice assistance, we can expect a growing want for AI-empowered voice shopping.
• Social Media will also continue to trend upward. It is anticipated that the US will see $50 billion in sales thru social media.

In addition to BOPIS, AI-Chat, and Social media, Convergent Commerce also utilizes mobile technology to enhance the shopping experience for customers. Retailers can have a mobile-friendly website and offer mobile apps that allow customers to shop on the go. Using mobile technology, retailers can personalize the shopping experience and provide customers with relevant information and offers.

Mobile technology is a crucial aspect of omnichannel retailing, and Convergent Commerce helps retailers harness the full potential of this channel.

Convergent Commerce also emphasizes the importance of consistent customer service across all channels. Retailers can train their customer service teams to handle inquiries and resolve issues quickly and effectively, regardless of the channel. This level of customer service can lead to increased customer satisfaction and loyalty.

Convergent Commerce offers a comprehensive solution that combines all aspects of omnichannel retailing, including BOPIS, mobile technology, and consistent customer service, into a single platform. This solution can help retailers streamline their operations and provide customers with a seamless and consistent shopping experience across all channels.

You can read more on Convergence Commerce from ThoughtWorks

• Convergent commerce: The new face of consumer-centric retail?
• Retail Agility: Catalyst to Successful Retailing in the 21st Century
• ThoughtWorks Retail and E-commerce Client Stories

Sources:

• Buy Online Pick Up In Store – Statistics and Trends [Infographic]
• 2023 Consumer Trends: Omnichannel, BNPL set to dominate