The implementation of an effective omnichannel solution has never been more important for smaller retailers, largely due to the multifaceted approach many retailers are adopting and the increasingly competitive retail landscape, which shows no sign of relenting. It is therefore crucial for small retailers to embrace a solution that will help them navigate the challenging High Street environment.
Although this is easier said than done for smaller retailers – those with a handful of stores which are bigger than single-site independents – the opportunities for implementing a flexible omnichannel solution across brick and mortar stores, and online, can reap big rewards.
Customer satisfaction and loyalty can be greatly enhanced if an omnichannel solution is introduced effectively. Although the perception may be that bigger brands can pour money into making the customer’s experience as good as it can be, smaller outlets can actually provide a more personalised, nimble one-on-one experience for customers, enabling them to go toe-to-toe with the high street giants on service.
Even though the financial outlay of transforming a business model through omnichannel may be a challenge, retailers should be working with technology providers to roll-out effective solutions; they cannot afford not to.
Implementing omnichannel provides a great opportunity for smaller retailers to revolutionise its in-store mobile tooling and the subsequent training of in-store staff, empowering them to offer customers the best possible shopping experience as soon as they walk in the door. Utilising insights and analytics technology to turn this data into tangible insights, this is crucial in employees looking up product information and checking inventory.
By offering customers a unified, real-time view of inventory online, in-store and at distribution centres allows retailers to inform customers on what products are available and where they can be purchased from. Identifying the nearest piece of stock in this way significantly shortens the time the customer has to spend on obtaining the product.Implementing such an effective omnichannel strategy will enable the customer to enjoy a seamless, personalised shopping experience, regardless of the retailer’s size.
Although this may require an internal cultural change and a significant financial investment, smaller ‘challenger’ retailers that embrace the technological revolution will foster increased customer loyalty, enabling them to not only survive, but thrive.