NEWSTORE BLOG

 

Omnichannel: Retail’s Strategic Imperative

By - October 9, 2019

Omnichannel. A word we love to hate. Why? Because it’s really hard to pull off and not many brands have it completely figured out. That’s not to say the wherewithal to change isn’t there and that we haven’t seen year-over-year momentum. In fact, there are many shining examples of omnichannel excellence in the industry today. At the same time, there is a lot of opportunity for continued growth in terms of delivering the end-to-end customer experience shoppers expect.

This is according to our 2019-2020 Omnichannel Leadership Report. The fourth annual report is a critical assessment of over 200 luxury, premium and lifestyle brands. A team of researchers audited each brand’s in-store technologies, website, mobile properties and call center. Through engagement with customer support and store associates, we’ve benchmarked the industry’s progress toward achieving omnichannel.

 

Report Highlights

Overall, the industry scored a low 40 out of 100 based on analysis of the pillars of modern retail: discovery, purchase, fulfillment, consumer engagement, and associate mobility. While the leaders scored high in these sections, the averages were brought down by the significant number of brands trying to survive on old systems and fragmented omnichannel strategies. 

Here’s a look at some notable findings from this year’s report:

  • Discovery: 76% of brands do not have a store locator on their mobile app.
  • Purchase: 74% of brands allow the use of digital payments.
  • Fulfillment: 56% of brands offer buy online return in-store (BORIS).
  • Consumer Engagement: 25% of store associates can contact a customer outside the store.
  • Associate Mobility: 68% of store associates use a mobile device or a tablet.

And, the report’s leaders, who are notably more competent than their industry peers:

 

 

We believe the mobility piece to be core to becoming an omnichannel organization. Consumers are not laying off their use of mobile devices across the shopping journey – and for everything else for that matter. It’s why this section is weighted the most in the report. One thing that sets the leaders apart from the laggards is their proficiency in mobile. Their store associates use mobile devices for nearly all workflows, and mobile has been intricately woven into every customer touchpoint. It’s something we’ve known to be true, but mobile really is presenting itself as the make-or-break for retail.

 

Download Today

To dive deeper into our research and learn which brands ranked in the top five in each category, download a copy of the report for free: newstore.com/omnichannel-leadership-report.

If your brand was evaluated, we can produce a custom research brief for you, including your overall score, individual analysis of capabilities, a competitive analysis, and a breakdown of your technology hits and misses. Please request a report by visiting: newstore.com/myscore