E-commerce has experienced tremendous growth in recent years, and this trend shows no signs of slowing down. In 2023, global e-commerce sales reached $5.2 trillion, and they are expected to reach $7.4 trillion by 2025. However, today’s consumers are more demanding than ever. They expect a smooth and transparent shopping experience, regardless of the platform they use. This is where omnichannel commerce comes into play.
What is omnichannel commerce?
Omnichannel commerce is a sales approach that aims to offer customers a consistent and unified shopping experience on all channels, whether it is a website, a mobile application, a physical store or a call center. This means that customers can start their purchase on one channel and finish it on another, without any interruption. For example, a customer can start browsing a product on a company’s website, then add it to their cart in the mobile application and finally buy it in store.
Advantages of omnichannel commerce
Omnichannel commerce has many advantages for companies and customers.
For companies, omnichannel commerce can:
- Increase sales: Omnichannel customers spend more on average than single-channel customers. According to a study by Forrester Research, omnichannel customers spend 40% more than customers who use only one channel.
- Improve customer loyalty: Customers who have an omnichannel shopping experience are more likely to remain loyal to a brand. A Salesforce study found that 89% of omnichannel customers are more likely to shop with a company again.
- Increase customer satisfaction: Omnichannel customers are more satisfied with their shopping experience than single-channel customers. A PwC study found that 86% of omnichannel customers are satisfied with their shopping experience, compared to 64% of single-channel customers.
- Reduce costs: Omnichannel commerce can help companies reduce their costs by streamlining their operations and optimizing their inventory.
For customers, omnichannel commerce offers:
- Flexibility: Customers can buy how they want, when they want and where they want.
- Convenience: Customers can easily switch from one channel to another without having to start their purchase process over again.
- Consistency: Customers have a homogeneous shopping experience on all channels.
- Personalization: Companies can use the data collected on the different channels to offer customers a more personalized shopping experience.
Examples of omnichannel commerce
Here are some examples of omnichannel commerce:
- A customer can buy an item on a company’s website and pick it up in store.
- A customer can view a product in a physical store and then buy it online.
- A customer can use a chatbot to get help on a product he has purchased online.
- A company can use the data collected on its website to send personalized emails to customers with product recommendations.
Omnichannel commerce is the future of e-commerce. Companies that adopt this approach will be in a better position to meet customer expectations and thrive in the digital economy.
