It’s incredibly important to take the time to learn how to properly execute a new venture, especially one as complex and valuable as omnichannel. Unfortunately, the clock is ticking for many retailers.
The commerce landscape is more volatile and competitive than ever before, with new technology and innovation continually disrupting conventional methodology. Customer expectations have reached new highs and consumers aren’t just demanding speed, but choice. They want their product when, where and how they say. And if a merchant can’t deliver, there is always another one to turn to.
Diagnosing a merchant’s omnichannel presence is an important step in setting the company on a trajectory that will enable the products, people, and brand to compete – and most importantly – grow.
So, let’s step back a bit and take a look at the glass half full. Amazon has only a couple physical locations, both bookstores, and are only now tapping the glass of omni. It’s incredibly important that merchants take this time to really understand their omnichannel capabilities. Are they utilizing omnichannel at all? Do they deploy seamlessly integrated technology to streamline operations and promote agility? Can they ship from anywhere, accept returns from anywhere, enable in-store pick up, all while having complete visibility to managing inventory across all channels? The laundry list of questions goes on.
But the bottom line is – be brutally honest. Sugar-coating glaring deficiencies to save face or escape reality does nobody any good. Identifying the problem and finding the right solution will set your company on the best path.
Merchants are fantastic at building a terrific product and brand. Where they struggle is getting those products into the hands of consumers in today’s on-demand consumer centric world. It’s fascinating the logistical complexities, operational costs, and technological bandwidth needed to compete. Consumers want the products merchants are selling, they simply don’t have confidence in the shopping experience post-click. Amazon has earned this confidence and is not slowing down.
To regain consumer loyalty, merchants need to drive past a sale and ensure satisfaction. Merchants need not go to battle alone, with the brands they love. Merchants should earn their customers confidence and help them be commerce confident, too.
PJ Rohall is supervisor of fraud management solutions at Radial.