What is omnichannel retailing?
Omnichannel retailing is the process by which a customer can gain a completely integrated and seamless shopping experience, regardless of the channels they choose to shop. The customer could buy online, and want to return the item to store, or shop from their mobile device to have delivery to their home. You can have multiple sales channels, but if they are not joined up, it is not omnichannel.
Omnichannel retailing is core to Retail Assist’s Merret software application, serving the process of buying, delivering and collecting anywhere, being fully connected, and delivering convenience for the customer.
Thanks to a real-time and single view of stock inventory, regardless of location, this makes stock more readily available to allocate in the most profitable manner, whether it is shipped from store or from the warehouse.
The benefits our customers are experiencing through omnichannel operations include:
- Visibility: ability to track and trace the customer journey from end to end, through capturing data at every point in the process. Customer information captured in Merret can feed your CRM system for improved marketing activity.
- Efficiency: real-time stock availability allows you to fulfil your customer demand with ease, with multi-streamed overnight processes running 10x faster than industry average.
- Strategy: through understanding the breakdown of retail operational performance as a result of enhanced data visibility, we can help direct your business strategy by making the most cost-effective retail decisions.
- Profitability: with a greater sell through of full priced stock and a reduced rate of markdown, margins are protected and profits soar.
We know that omnichannel success relies on the following points, and have built a solution to deliver the benefits that omnichannel retailing has to offer:
- Centralised stock pool for increased availability of stock across your business.
- User defined replenishment rules to ensure stock can be automatically and dynamically moved between your warehouse and stores.
- Rule based fulfilment, including the ability to Ship-from-Store where suitable, to utilise your entire inventory.
- Integrated click-and-collect ability, with standard interfaces to major third party logistics providers (3PLs).
- 21 omnichannel scenarios for flexible and profitable use of your stock, e.g. Ship-from-Store, Deliver to address, click-and-collect. We scope out our customers’ exact business requirements to implement omnichannel retailing.
- A global system for your entire estate of stores and warehouses, including zonal pricing modules for optimising international operations.
Featured Case Study
From the processes involved to the technology that underpins it, this whitepaper provides expert insight into omnichannel solutions, and the benefits that an omnichannel strategy can offer to retailers today.
With 86% of retailers unhappy with their current omnichannel offer, we identify 5 key cultural and operational changes required to confidently fulfil customer demand anytime, anywhere, anyplace.