Merchants See Increased Satisfication with Omnichannel Fulfillment

smiley-icons-300Ecommerce has now become synonymous with omnichannel. While merchants are focusing their retail efforts on social, mobile and email, the real effort should be on a variety of fulfillment options, according to a new whitepaper by Innotrac.

A quick Google search of the term omnichannel yields over 12 million results and 1.9 million for the term omnichannel marketing, according to the SmartHub Benchmarking Exploring Omnichannel whitepaper. So why all the fuss? The whitepaper states it’s because “a customer who engages with a retailer across multiple channels will be more profitable to the brand.”

According to the whitepaper, retailers who have implemented a successful omnichannel focus found that consumers who interact with a brand on multiple levels spend three times more than the single channel consumer.

The main focal points for retailers when it comes to omnichannel retail should be ship-to-store, ship-from-store, and buy online return in-store.

Of those merchants surveyed for the whitepaper who have a retail store, only 18% offer a ship-to-store option. Forty-five percent of retailers said they have the ability to ship-from-store; this is up from 32% from last year, according to the report. As for buying online and returning in-store, according to the whitepaper, it is not only the most popular option offered by retailers (76%) but also the one most preferred by consumers.

“Data from online ordering behavioral studies shows that ‘ease of returns’ is a top concern among consumers,” the whitepaper states.

In fact, Bill Toney, senior vice president, Omnichannel Solutions at VendorNet, also said in a recent interview with Multichannel Merchant that retailers who get into omnichannel fulfillment can expect to see a boost in conversion rates anywhere between 2% and 20%. But by offering various fulfillment options to your customer it will most definitely boost your customer satisfaction rates and could help increase long term customer value.

In order to master omnichannel, retailers need to make sure they can leverage inventory across all channels, according to the whitepaper. This means there needs to be a visibility of all locations, both stores and distribution centers, at the time of the purchase consideration by the consumer. By doing so, the whitepaper states, it can reduce stranded inventory, result in fewer markdowns, and provide a higher customer service rating.

Partner Content

Hincapie Sportswear Finds Omnichannel Success in the Cloud - Netsuite
For more and more companies, a cloud-based unified data solution is the way to make this happen. Custom cycling apparel maker Hincapie Sportswear has leveraged this capability to gain greater visibility into revenue streams, turning opportunities into sales more quickly while gaining overall operating efficiency. Download this ecommerce special report from Multichannel Merchant to more.
The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.