Examples Of Omnichannel Retailing

E-commerce is the only trillion dollar market in existence that is projected to grow over twenty percent this year and continue to increase at double-digit rates (Mulder). At the same time, 51% of millennials say the information found on a retailer’s website have more impact on their purchase decisions than personal recommendations (Sullivan). This is not to say that brick-and-mortar stores are a dying breed; rather, they must incorporate an omnichannel strategy in order to appeal to today’s well-informed customer. The beauty of omnichannel retailing is that it combines the universal access of online sales with the personal connection of an in-store experience. Based on the article “Competing in the Age of Omnichannel Retailing”, I believe the best executed omnichannel strategies include highlighting product information across channels, curating personalized content for users, establishing loyalty programs, and utilizing data and analytics to its fullest potential.

Some retailers, like Bed Bath & Beyond, have added a ‘scan-for-more’ digital tool, which allows customers to be able to view product images, information, and reviews. Similarly, with REI’s omnichannel initiative, customers can find up-to-date product information on any device. REI has added Wi-Fi access to stores and has provided associates with mobile devices to be able to look up information and inventory availability in real-time for customers. Gone are the days when consumers were blindly loyal to the brands they grew up with; today, transparency is