What is the divergence between omnichannel and multichannel retailing?
What came first? In this Instance, we couldn’t have an omnichannel without multichannel. Omnichannel is the advancement of multichannel operations.
To clarify the variance in simplicity:
Multi-channel = Selling to shoppers via more than one channel (channel-centric with a separate experience reliant on the channel)
Omni-channel = providing the similar experience across all channels (shopper-centric for the complete consumer experience)
The four key channels comprise online stores, physical stores, marketplaces, and social.
Multichannel retailing is every channel working in separation, it begins with the company and moves outward to channels. Omnichannel retailing is providing a compatible, customized experience for shoppers across all channels and devices. It starts with the consumer and comfortably interacts between channels for a united experience.
Omnichannel retailing recognizes that shoppers use multiple channels to attract with a brand before making a purchasing decision, so Omnichannel commerce pivots on providing a united and integrated consumer experience regardless of the channel being utilized.
With Multichannel if a company wants to improve their consumer about a promotion they might tell every channel team to manage the campaign separately (online, in-store, marketplace, social) and hope the consumers will buy more from one channel.
A company following a multi-channel perspective will have divergent messaging per channel e.g, an online store experience, an in-store experience, a social experience, and a marketplace experience. Problems can occur when consumers experience is inconsistent with divergent messaging and lack of combination.
With Omnichannel there would be a merged, integrated, seamless, and compatible message attentive on the consumer experience across each interaction point.
Statistics show that consumers who captivate with an omnichannel experience purchase more (13% more) than those who did not.
The crucial problems with multi-channel are style unpredictability, miscommunication between channels, promotional mismatch, stock availability issues, etc – this all results in frustrated customers.
Knowing all this why would any retailer still select the Multichannel procedure?
The only reason would be because it’s easier and less expensive (requires less coordination, planning, and integration). But at what cost considering the poor consumer experience and decreased sales.
Retailers must survive in the digitally connected social age to have a well-implemented omnichannel strategy.
For more information on how to set up an integrated omnichannel experience for your B2C or B2B customers contact Born Techies today. Born Techies has 10+ years of digital commerce experience and was the pioneer of omnichannel retailing in the USA.
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