Notes from OmniChannel Retail Conference by PwC

An omni channel and e-commerce research by PwC that included thousands of firms reveals quite useful facts to apply when tactics and strategies are about to be developed.

I have noted key ones below, especially for those who are about to define their omni channel value propositions:

• The habits of Chinese consumers today will be the ones for others soon.
• Value of a product is important if it is also cheaper, price rules.
• Traffic is nothing unless it has shopping value. Conversion, conversion, retention!
• Mobile is now sector reality, average visit ratio is %70, shopping ratio is %30. Price and detailed product info search is very important. Build a mobile product that would be the key in your omni proposition, a linkage for your channels.
• The experienced sales force means a lot, so invest in the sales force! 42% of visitors said they do seek for an experienced sales person.
• Loyalty programs are doomed to fail unless they are personalised and innovative. Top 3 most used loyalty functions: Discounts, free shipments, bonus points.
• Product info at digital and store level is extremely important in conversion. Invest in photo, data and content management. Become more digital at store, more real at digital!

TOP 5 reason to select a brand:

1- Price

2- Stock Availability

3- Service and delivery options

4- Return Policies

5- Store stock check via digital channels

Note: There was a question by a Deputy GM of a famous Turkish Shoe Retailer. I would like to address that question here as well:

Q. We were investing on operations excellence, but you recommend us to invest in sales personnel. Did we make a mistake?

A. Investing on operational excellence is extremely valuable. The success of Inditex group largely depends on operational efficiency. Yet it is also important to build experienced sales force, expert on products and sales process, also equipped with digital talents.

As the store concept changes and becomes more digital, more integrated, a dramatic shift in shopping habits, hence in experience is becoming new reality. The sales force will be one of the main catalysts in this transition. My recommendation would be keeping investments in operational excellency, also improving your sales force meanwhile: You could divide your field teams into two: keep one as the operational support (higher turnover, less salary, more operational) and invest in another group (trained as main sales force with higher salaries and career options).

There are successful implementations of the recommended strategy above, let me know if you are interested hearing more.