OMNI-CHANNEL IS THE NEXT BIG THING TO TAKE OVER THE GLOBAL MARKET
With the advancement of technologies, the landscapes of different stores are changing and are becoming more convenient for the people. The online retail stores are widely accepted by the people nowadays as it is considered to be hassle-free and has much more options when compared to the offline stores. The system of Omni-channel is becoming the next big thing to take over the international market. Let’s take a quick view.
Use of smartphone provides a boost to the online stores
People tend to spend a lot of their time on smart phones. A recent survey showed a result that more than 75% of the people browse the internet on their smart phones. And, among them nearly 45% people purchase various products online with the help of their smartphone or tablet. The varied use of smartphone or tablet is a boost to the online retail stores.
The system is nothing new. It is a multichannel sales approach that helps customers to elevate their shopping experience. The multi-channel retailers have evolved and gave gradual time in focusing on making a more seamless experience to the shoppers through the available channels. Customers will become more adapted to the channel with the advancement of technology which will make them more mobile oriented.
- It helps the customers as well as the retailers when it comes to tracking various business parameters (e.g., order management, tracking, sales/inventory reports, order fulfillment, etc.). The retailers can track the customer and can target the respective market.
- The large stores are now engaging themselves in the online model. This is gaining momentum as they can keep records of different customers that are engaged on their site separately with their varied choices. This can help the retailers suggest the particular things to the customers that they are exactly looking for.
- Previously, there used to be a line between the online and the offline store. But, now people have the opportunity to order a particular thing online and pick that up from an offline store. They can try something on the offline store and can save it in their cart to get it from online store which will be directly delivered to their address. This is very much useful for the retailers as they can easily understand the particular requirements of their customer.
- With the advancement of the model, the different products are not specified to a particular channel and are consistent at nearly all the online channels.
The challenges that the Omni-channel is facing and the solutions that Hub9 Omni-Channel software is coming up with
Overcoming the technological barriers
It is very important for businesses to constantly improve in order to thrive in the race. When it is coming to manage an online retail store, it is very important for the retailers to manage an online warehouse. One such thing that many retailers can do in order to properly manage their inventory is set ‘re-order levels’ for some particular items. This will always ensure that you have a sufficient stock of the particular item in your inventory. Whenever the number will go below the threshold level, the you are notified that it is time to fill up your stock The hub9’s advanced Omni-channel tool helps you improvise your entire business management and makes it as easy as falling off a log.
Engaging the customers in different channels
You will find out that a lot of people spending time at your store. But, are they all potential customers? It is very important to keep your customers engaged with your store, maybe sending them mails for an ongoing offer or wishing them on their birthday or ask for a suggestion to better the services. Remember, it is easy to maintain the old customers rather than engaging the new ones. The old customers have already enjoyed your services many times and can consider you but the new ones need to be completely sure about the things that you can offer before showing their loyalty. Thus, Hub9’s Omni-Channel tool can be extremely helpful here.
Synchronizing the different data
There is a lot of data present in any business; containing varied information at the same time in an enterprise is a tough nut to crack. In order to make it easier to access, it is important to log each program differently. Though this job is much related to the IT Department, it is important that retailers should take up the particular responsibility to set up the right time to update the required data. There should be a responsible person assigned in order to monitor the necessary changes that are happening in the required sectors of data. This requires a high level of security as the company cannot afford any leakage of the particular data and this needs to be done separately for each system. Here comes Hub 9 in the picture. Our well designed Omni-channel tool helps you efficiently synchronize various types of data with minimal supervision.
Maintaining the different channel conflicts
If a particular brand is available at more than one channel, there lies a subsequent of a chance of having a conflict among the channels. If this happens, in the world of competition the company may have to stop dealing with the particular retailer with whom they are not able to channelize proper profit. It is very important to price the product in such a way that is acceptable in all the channels. For this, a proper market survey is required to be performed for understanding the right value of the product and the acceptance of the customers towards it.
In the USA, the “online sales” is on rise over the years. Same with the Europe, where there is an increase of 11% every year. It is still expected to grow in more parts of Southern Europe. Asia is also not falling behind when it comes to catching up with the global leaders. Things are changing fast and it has become important to adapt to these changes. Such is the Omni-channel model attracting the retailers and the customers in the similar fashion to take the markets globally. Hence, choosing the right Omni-Channel software for your business can certainly help you establish a strong market value by streamlining your workflow management.