Analyst Insight: Consumer shopping habits have changed over the past few years, thanks to the pandemic and the rise of e-commerce purchases. A recent Forrester Research report focuses on consumer buying habits and reveals that the customer’s journey and expectations have changed. If retailers aren't maximizing their stores across multiple channels, they leave dollars on the table.  

A recent story on omni-channel statistics in FitSmallBusiness finds that more than half of shoppers looked at products online then bought at a physical store, and vice-versa. Other stats show: 

• Retailers that don’t provide an omni-channel experience for online shoppers miss out on up to 30% of sales.
• For online shopping, retailers with three or more channels can increase order rates by more than 490%.
• Nearly half of customers say they’re more likely to complete online shopping purchases if they can return in-store.

Consumers want the ability to buy a product from any location and have it delivered anywhere they want it. More importantly, regardless of how consumers shop, they demand a seamless experience. They want visibility into which products are available online and in their local retail store. Consumers also want access to the same level of customer service regardless of how they’re shopping.  

Moving excess inventory continues to be a struggle for brands. To fix this critical issue, they need visibility into where all their inventory is located. An omni-channel order-management system provides total visibility into inventory, and keeps it in sync across all digital channels. This allows retailers to expose all products that are available to sell, and avoid “out-of-stock” messaging when there are products available in another channel.  

Research shows that brands that prioritize an omni-channel approach retain 89% of their customers. Two key ways to create that omni-channel experience are product availability and fulfillment options. Retailers can offer preorders and backorders for popular items, showcase local store inventory on their storefront, or get products in front of more shoppers via marketplace selling. 

By offering multiple fulfillment and return options, including buy online, pickup in store (BOPIS); buy online, return in store (BORIS), and ship from store, brands can get orders to customers how and when they want them, improving the overall customer experience and creating repeat shoppers.  

An omni-channel approach gives retailers the flexibility to route orders to the best fulfillment location, whether that’s a warehouse or local retail store. They can set routing logic based on the location that’s closest to the customer, as well as fulfillment center capacity levels, to ensure they’re meeting their customers’ delivery expectations without hurting the bottom line.   

Outlook: While Amazon has set the bar for an excellent customer experience with fast deliveries, retailers that prioritize an omni-channel strategy can create seamless, end-to-end shopping experiences. And that’s the best way to create lifelong customers.