Omnichannel strategy in a changing economic landscape

The global business landscape has undergone major transformations over

the past few years, particularly since the COVID-19 pandemic. This shift has

significantly influenced consumer actions and purchasing habits. As online

shopping, social media, and mobile devices continue to gain traction,

companies need to adjust their marketing tactics to stay competitive in the

evolving market. Now more than ever, consumers are spending significant

amounts of their time on various devices and platforms. In fact, a study by

Harvard Business Review revealed that 73% of customers use multiple

channels during their shopping journey.

Today, it has become insufficient for brands to focus solely on individual

touchpoints; instead, they must create a seamless experience across all their

channels. Accenture highlighted this necessity, with their research showing

that 75% of consumers expect a consistent experience wherever they engage

with brands, whether it's online, on social media, mobile, or in-person.

The integration of chatbots and virtual assistants into an omnichannel

strategy is one way that businesses are using to automate parts of the

omnichannel experience. Capable of responding to up to 80% of customer

queries, these digital assistants free up staff members to handle more

complex requests and deliver seamless brand experiences.

By utilizing data analytics and artificial intelligence, businesses also gain

valuable insights into customer behavior and preferences, enabling a more

tailored marketing strategy. A report by Adobe found that companies with

the strongest omnichannel customer engagement strategies enjoy a 10% Y-

O-Y growth, a 10% increase in average order value, and a 25% increase in close

rates.

In recent years, the Middle East, has witnessed a surge in omnichannel

marketing, spurred by shifting consumer expectations and technological

advancements. Regional players such as Noon.com, Majid Al Futtaim, and

Emirates NBD are leading the way.

Noon.com, a Dubai-based e-commerce platform, integrates online and offline

channels to provide a seamless shopping experience, allowing customers to

order online and pick up from a physical store. Majid Al Futtaim, a UAE-based

conglomerate, operates several leading retail brands, integrating online

shopping, in-store experiences, and a personalized loyalty program.

Meanwhile, Dubai's Emirates NBD delivers a seamless banking experience by

integrating online banking, a mobile app, ATMs, or physical branches.

When implemented successfully, omnichannel strategies can eliminate silos,

foster collaboration, and create a unified experience that boosts customer

satisfaction and loyalty. However, success in this realm requires exceptional

orchestration between various channels, touchpoints, and teams. By

understanding their audience, utilizing data to personalize their messaging,

and embracing technologies that deliver personalized messages across

channels at scale, companies can negotiate these complicated hurdles and

drive new growth opportunities.

The new world order has necessitated a shift in marketing strategy, requiring

brands to be both innovative and strategic in their approach to customer

engagement. To navigate this shifting economic environment, companies in

the Middle East and across the globe must embrace innovation and

technology as essential components of their ongoing strategy.