Omnichannel retail was one of the hottest topics of 2015. In a landscape of ubiquitous mobile Internet, consumers expect to shop or research at any time, from anywhere. With the introduction of more streamlined mPOS and mcommerce payments, shoppers have come to anticipate the same level of experience from one touch point to another.
Despite the buzz around the subject, merchants are clearly discouraged with the practical implementation of omnichannel retail. The name itself; omni- meaning of all things and places, implies an ability to be everywhere simultaneously. In reality, this concept is almost impossible.
Some of the best examples of omnichannel merchants such as Uber, Airbnb, John Lewis and Alibaba, are far from present on all channels. They are putting the consumer first on the right channels, and providing optimized, invisible payments, whether it is mobile in-app, in-store, mPOS, social or online.
In this white paper, we take a more truthful assessment of omnichannel. Despite what we are being told, we concede that no one can be seamlessly present everywhere, simultaneously. We offer realistic advice for smaller and medium businesses to strategically optimize their most appropriate channels, to make omnichannel retail a profitable venture.
Taking a global approach with a regional breakdown, we provide insight from interviews and case studies, and pragmatic best-practices across the three major international markets. The paradoxical truth about omnichannel retail is, to be a good at it you don’t actually need to be omnichannel. You just need to know what matters to your consumers, and put those customer first.
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