The approach to retail marketing is changing. Success now lies in reaching customers through various channels-whether through stores or through e-Commerce sites. As technology continues to touch every step of the customer journey, retailers are ensuring that their marketing strategies are geared towards enabling customers to convert on any channel. They have realised that a customer who buys from them in-store as well as online, is valuable! The 2015 study by IDC, shows these customers have a 30% higher lifetime value than those who purchase using only one channel.
With customers buying across multiple channels, a seamless, consistent shopping experience has become important; from the way each channel looks, to the technology used to power them. Customers expect every touch point across the shopping experience to be consistent and convenient. But there is a gap between customers’ expectations and retailers’ capabilities. Retailers face a number of challenges in creating a truly omni-channel environment, including technical challenges, organisational silos between channels, and poor operational execution. Below listed are some of the major challenges faced by retailers to becoming an integrated omni-channel company.
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