Multichannel strategies not a strong point for many retailers
When consumer demand changes, many merchants know their own methods and operations must be altered to keep up with these new wants and needs. This has been seen with the emergence of credit and debit cards, as businesses quickly adopted point of sale systems that accepted plastic. Ecommerce is another aspect that merchants implemented in a timely manner, as shoppers preferred to go online to browse for and purchase items. However, a new trend is not being given the same level of attention as past ones – multichannel strategies. As consumers take to the Internet, visit brick-and-mortar locations and interact with brands through their mobile devices, retailers are going to have to streamline their processes to accommodate patrons through every available channel.
Big-name retailers missing multichannel methods
According to a recently released study by SD Retail Consulting, many larger merchants in both the United States and the United Kingdom are missing the boat on multichannel strategies. PYMNTS.com reports that of the companies surveyed, 80 percent are not currently offering training opportunities for their employees on how to provide service and communicate effectively with shoppers who are using multiple channels. This means that retailers could be missing out on the chance to boost patron loyalty and retention as they are not meeting their customers' needs for multichannel operations.
Once factor highlighted by the research which shows the lack of multichannel strategies was businesses' response to mobile commerce. SD Retail discovered that a mere 18 percent of merchants have implemented mobile point of sale solutions despite the growing popularity of smartphones and tablets being used for shopping purposes.
"The largest retailers must examine every customer touch point and how they play their part in creating that seamless customer experience," states SD Retail President Antony Karabus. "For the minority of retailers who are successfully transforming their store environments, the rewards will be substantial."
Go from one to many
So how can merchants increase their focus on multichannel operations to improve customer loyalty? IMediaConnection suggests that retailers first start by ensuring they have the right technology and tools in place to support multiple channels. This includes retail management software and POS systems that accept all payment forms. Also, offering loyalty programs through all channels as well as incorporating mobile strategies are other effective ways to become a successful multichannel company, the source notes.
