Omni-channel Retail is when a customer can use more than one sales channel such as brick & mortar stores, e-Commerce/Internet, mobile (m-Commerce), social commerce and more to research, buy, collect and return or exchange products from a retailer, irrespective of the channel of purchase.
Omni-channel retailing is a consumer centric approach that is a logical evolution of multi-channel retailing. It refers to the adoption of strategies, variety of engagement tools and seamless approach to the consumer experience through all accessible shopping channels.
Omni-channel retailing not only helps organizations to centralize their business operations and implement infrastructure changes but also enables them to provide a consistent experience to attract and retain customers, thus driving greater sales.
When shopping, whether in your store, on your website, mobile app, or kiosk, or through any other sales channel, customers want what they want, when they want it, and where they want it. As easy as that may sound, putting it into practice though is tougher than you’d imagine. Trying to meet the fulfilment needs of today’s customers may feel overwhelming. But with the right tools and strategies in place, implementing an omni-channel retail business model can be a breeze.
Following are some simple capabilities for omni-channel fulfilment success in retail today:
ETP V5 is an enterprise class, omni-channel retail solution that seamlessly integrates the Point of Sale (POS), Customer Relationship Management (CRM), merchandise and inventory management, marketing and promotions planning and Business Intelligence (BI) across channels. Thus, ETP V5 Omni-channel Retail Solutions help to unify the online and the offline customer experience.
ETP V5 Omni-channel Retail Software Solutions comprising omni-channel POS software, Mobility (mobile POS), CRM software, Marketing and Promotion Campaigns, Order Management & Supply Chain Management, Omni-channel Analytics, and Omni-channel Connect provide you with features such as Click and Collect, Click and Deliver, Endless Aisle, a holistic view of the inventory, and a single view of the customer enabling you to deliver a unified brand-customer relationship across all channels. This is done using real-time integration of ETP’s POS solution, CRM solution, and Promotions engine with web stores and marketplaces using ETP Connect’s secured web services framework, which has the ability to see and manage order flows.
“Buy Online, Pickup In-Store” or “Reserve Online, Pickup In-Store” or simply “In-Store Pickup” enables your customers to buy items online & pick them up in-store. It offers a convenient & enhanced customer experience by increasing footfalls in the stores that lead to additional impulse purchases, frees up in-store personnel, and reduces delivery/returns costs.
Buy Online, Pickup In-Store (BOPIS) enables customers to buy items online & pick them up from a nearby store. Kerb-side Pickup allows them to buy items online & pick them up at a centralized collection point. Both processes offer an enhanced customer experience. While BOPIS or Click & Collect increases footfalls in the stores leading to additional impulse purchases, kerb-side pickup offers the customers the convenience of receiving their purchased goods at a pre-chosen location, reducing delivery/returns costs.
“Endless Aisle” enables retailers to avoid lost sales by integrating their physical and virtual merchandise for customers in the stores to select from a wide range of products that include out-of-stock goods and have their purchases shipped to store or to their homes.
Direct to Customer (D2C) order fulfilment enables retailers to sell directly to their customers without any retailer or wholesaler in the middle. With D2C, retailers gain a better understanding of their customer and more control over their preferences. D2C also allows to easily integrate retail POS with 3P ERP, financial and logistics systems for efficient direct distribution.
Retailers can transform their stores into virtual distribution hubs using the Ship From Store (SFS) fulfilment technique. It uses stock from the physical store estate to fulfil both online & offline orders by leveraging inventory held in physical stores & making it available to sell through the eCommerce channels.