Innovative Retail Technologies

NOV-DEC 2016

Innovative Retail Technologies (formerly Integrated Solutions For Retailers) is the premier source for innovative yet pragmatic technology solutions in the retail industry.

Issue link:

Contents of this Issue


Page 14 of 39

Spotlight On E-Commerce A ccording to Digital Divergence: The Future of Digital Commerce, the most recent e-commerce benchmark report from Retail Systems Research (RSR), retail winners have a high expectation of the omni-channel customer experience they provide. Report authors Nikki Baird and Steve Rowen write that they "expect to be able to provide a single customer journey across channels, defined through a single owner of the brand experience. And they increasingly expect that their e-commerce platform will ultimately deliver the digital parts of that brand experience." In that study, RSR reports that: • 66 percent of retail winners say identifying and enabling customer journeys is critical to digital channel success • 54 percent of retail winners say a single owner of the customer experience is critical to their brand success • Far fewer than half — just 44 percent — of retail winners say their e-commerce platforms will ultimately become their digital platform across all channels RSR's definition of winners, by the way, is merchants that achieve comparable store/ channel sales growth of 4.5 percent or better. That last stat comes as no surprise, as order management applications have quickly achieved prominence as the backbone of omni-channel among this cohort. The first two stats are exemplary of their acceptance that customers are dictating the retail model, and it's decidedly omni-channel. That's why understanding the customer journey — or better said, understanding the myriad journeys customers take to the sale — is far-and-away the most important mission of leading retailers. It's also why appointing a single customer experience leader — not channel-specific leaders — is priority number two. Given the choice between two channels, consumers will take both or any, not one or the other. Interestingly, a full 39 percent of merchants in RSR's 2016 e-commerce report cite "keeping up with evolving consumer by Matt Pillar Despite inventory visibility and customer experience management falling into place, merchants face legacy challenges to true omni-channel. THE MATURATION OF OMNI-CHANNEL E-COMMERCE I N 2 0 1 7 : Nov-Dec 2016 12 Accurate visibility of inventory in and of itself, however, isn't enough. Meeting the customer 's omni-channel expectation also requires the ability to execute on accurate visibility of enterprisewide inventory. shopping patterns: social networks, mobile, etc." as one of their top three challenges in digital challenges, second only to "maintaining growth rates" and followed by "finding differentiation in a fiercely competitive market." As it relates to a majority of larger omni- channel merchants, who run e-commerce sites in addition to their brick-and-mortar stores, all three of these challenges can be addressed by two foundational areas covered in the most recent research

Articles in this issue

Archives of this issue

view archives of Innovative Retail Technologies - NOV-DEC 2016