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More than a third of consumers now say they are put off by retail technology that delivers an inconsistent experience across online, mobile and in-store, according to Salesforce, while 85% start a purchase on one device and finish it on another (source: Google)
Unsurprisingly then, 59% of retailers are already investing heavily in retail technology to make their customer experience consistent across every channel (source: RIS).
In this How To Guide, we’ll go through the four steps a retail tech lead needs to take in order to deliver a consistent omnichannel customer experience.
As shoppers, we are now channel agnostic. Most of us (87%) will begin product searches via a digital channel, and yet 82% of our transactions continue to take place in physical stores.
These conflicting stats can bring confusion to a retailer’s customer strategy, and is potentially why so many fail to deliver a fully-connected omnichannel experience.
First, an omnichannel retail strategy needs to give a retailer access to granular customer data from whichever way a customer makes contact, as well as update and amend when they move from one platform to another (i.e. online to in-store).
This will enable a retailer to map out their customers’ journey, personalise individual experiences and market to scale.
To find out how you can harness and utilize data to identify what customers actually want from a shopping experience, click here.
It’s important to note the difference between multi-channel, which many retailers deliver, and omnichannel experiences, which brands have found more of a struggle to achieve.
In essence, omnichannel is about connectivity and consistency. retail technology
A retailer may have a well-designed ecommerce website, a great mobile app, and a well throughout in-store strategy, but if each siloed experience isn’t consistent when a customer moves from one channel to another, it’s not omnichannel.
Here’s how Yoyo thinks retailers can solve the omnichannel challenge:
Multichannel one-click checkout:
Automating payment, loyalty collection, voucher redemption, discounts and digital receipts, whether a customer shops with a brand via mobile in a physical store or online.
Secure Double Tokenization identity protection:
Protecting both personal and financial customer data, whether they shop online or in-store. Double Tokenization also removes the hassle of storing personal information, while still providing retailers with the ability to communicate with customers based on purchase habits and preferences.
You can find out more about Double Tokenization here.
Cross-channel Activity Feed:
Customers view history of their spend, how much they’ve saved, and what rewards they’ve earned, whether they’ve shopped in-store or online.
Itemised Digital Receipts:
Customers receive a fully itemised digital receipt for both online and in-store purchases, with details including outlet information (with a map view), individual items bought, the time of purchase, rewards earned or redeemed, discounts and payment method. All receipts are downloadable for expense reports or personal finance.
A full digital inventory of products available in-store / online.
Customers browse menus, choose to pre-order and pay for items ahead of their in-store visit – enabling them to beat long queues. They also choose to have their products delivered depending on the retailer’s ordering strategy. Loyalty is automatically accumulated, rewards automated and fully itemised digital receipts received.
Purchase-linked Customer Feedback:
Instant feedback on a customer’s in-store experience, including service, queue times, product quality etc, can be gathered through relevant and timely prompts. Feedback can be sent within a matter of seconds, whether shopping online or in-store, which leads to high response rates and engagement levels.
Feedback can then be segmented by store, channel, spend, region, product, time of day etc, enabling retailers to identify real-time common trends to instantly address problems, reward positive behaviour and improve customer experience.
Payment and purchase preference data from multiple channels is delivered to one platform, creating the most comprehensive customer behaviour segments and the power to deliver even more personalised comms and marketing campaigns, based on both on and offline purchase behaviour.
Mobile now drives global retail, according to a 2020 report from data and analytics firm App Annie – and 2019 proved to be its strongest year to date. retail technology
In true omnichannel fashion, the report reveals that mobile is responsible for increased product research and sales, both for online and physical retail. As an example, Nike’s digital business is said to have grown by 42% in Q3 2019 due to its innovative mobile-led experiences.
95% of the UK’s 16 to 24-year-olds now using smartphones to run their daily lives (source: Ofcom), which is why apps retail apps that are powered by Yoyo incorporate both the on and offline shopping journey, whether it’s:
The mobile wallet should be viewed as the engine that drives real customer insight, based on profile (who they are), preference (what they buy) and behaviour (when and how often).
This is the vehicle that enables a retailer to deliver the fast, convenient and personalised experiences consumers now demand (PwC), whether they choose to shop in-store or online.
As we pointed out above, a retailer may already have a well-designed ecommerce website, a great mobile app, and a well throughout in-store strategy.
Thoughts of the cost and time it would take to overhaul these siloed experiences to create a new omnichannel experience is a daunting prospect. retail technology
However this doesn’t need to be the case.
Yoyo’s innovative easy-to-integrate platform provides retailers with the most cost-effective and intuitive Rest APIs that transform siloed functionality into the most consistent omnichannel retail experience for customers.