Important Omnichannel Statistics for Your Brand In 2024

Customers exhibit diverse preferences when engaging with your brand, products, or services. While some prefer shopping through Instagram, others lean towards Facebook similarly; while email communications may suit some, others like visiting your website.

With an omnichannel strategy, brands provide customers with a consistent experience with different digital channels and touchpoints.

We'll explore the latest omnichannel statistics to empower you to select marketing strategies that optimize your brand's profitability.

Let's dive in!

Omnichannel Marketing

Here are some facts based on omnichannel marketing growth:

1. According to Market Research Future, the global omnichannel retail market's value is expected to exceed $5.36 billion in 2023.
2. After adopting omnichannel retail marketing, Zara experienced a boost in online sales by 74%.
3. According to Research, top omnichannel brands see a decrease in cost per contact yearly by 7.5%.
4. Companies with an omnichannel approach see an increase in annual revenue growth of 9.5%

Omnichannel Marketing Revenue, Customer Retention, and ROI

Here are some facts and stats based on marketing revenue, customer retention, and better ROI after adopting an omnichannel approach:

1. The customer retention rate of companies with a strong omnichannel approach sees engagement of about 89%, while companies with a weak omnichannel approach see a retention rate of 33%.
2. It has been analysed that retailers that don’t adopt an omnichannel approach see a dip in their sales by up to 10-30%.
3. Compared to single-channel strategies, three-channel omnichannel campaigns have a 287 percent higher purchase rate.?
4. When compared, livestream shopping has ten times (30% higher) the conversion rate of traditional e-commerce.

Omnichannel Customer Behaviour and Preference

?Here are some stats and facts about omnichannel customer behavior and preferences:

1. As per Shopify Research, 47% of customers are likely to buy from an online store if they know they can return the product in-store.
2. Almost 80 percent of customers who return their purchase item to a physical store prefer a refund to buy a new product in-store.
3. Around 55 percent of customers prefer verifying product availability online before going to a physical location.
4. According to research, 98% of Americans use different devices daily.
5. As per Shopify Research, 54 percent of customers check products in online stores and save them to buy later. On the other hand, 53 percent of customers check the product physically to buy it later.

Omnichannel Customer Experience

Here are some stats about omnichannel customer experience:

1. According to Statista Research, around 60 percent of customers prefer to research a product before purchasing it.
2. According to research, 72% of customers believe an in-store experience is best for purchasing.
3. It has been analysed that, 89 percent of customers feel annoyed if they explain the problems and challenges they face with a product to multiple customer care personnel.

Want to know how emerging technologies are shaping omnichannel Commerce? Here is a complete blog post.

Omnichannel Trends and Innovation

Here are some stats and insights on omnichannel trends and innovation:

1. As per research, the global chatbot industry is estimated to hit $994 million by the end of 2024.
2. Almost 84 percent of companies believe that AI chatbots will play a crucial role in interacting with customers over time.
3. Some businesses have found that chatbots have helped them to achieve up to 70% of conversion.
4. One of the best features of chatbots that 64% of consumers agree is their availability around the clock.

End Note

The evidence is clear: your presence must extend across various platforms to attract new customers.

Moreover, it's important to recognize that customers anticipate your availability across these channels. Are you seeking efficient methods to engage with customers across multiple channels? BetterCommerce PIM offers a solution by enabling effortless monitoring of your omnichannel data performance, empowering you to make informed decisions.