Top Omnichannel Survey Takeaways: RTP Editors Weigh In
The term “omnichannel” gets thrown around a lot — some might say too much — by retailers and industry observers. However, the word still conveys an important truth: retailers must take every action possible to maximize customer engagement opportunities across both traditional and emerging channels.
The seventh annual Retail TouchPoints Omnichannel Survey shows where retailers are succeeding in connecting with the consumer, as well as where they need to improve. In this Q&A, the RTP editorial team shares their top takeaways from the results.
Did anything from the survey catch your eye? Let us know in the comments below!
Debbie Hauss, Editor-in-Chief: The most significant and poignant stat for me was the increase and total percentage of retailers that are depending on customer analytics to achieve their omnichannel goals. The survey showed a 32 percentage point rise in 2018, reaching 84% of total respondents. It’s definitely about time the vast majority of retailers were focused on the customer, with data as a backup. As a result I think we’ll see improvements in cross-channel initiatives, as retailers become empowered to deliver the right messaging to the right customers at the right time consistently across shopping touch points.
Adam Blair, Executive Editor: Analyzing the data from this year’s Omnichannel Survey makes me wonder, yet again, when our industry will adopt a more accurate descriptive term. Granted, “omnichannel” is better than its predecessors, “multi-channel” and “cross-channel,” but all are holdovers from the days when: 1. There were only three or four channels of note (stores, a web site, catalogs and perhaps a call center); and 2. Each channel was a sharply defined entity for both retailers and consumers. The days when both of these statements were true are in the rapidly receding past. Consumers not only don’t care about channels; they are barely aware that they exist. My objection to the term “omnichannel” is more than just linguistic; by including the word “channel,” it reinforces a retailer-centric viewpoint that also has become outmoded. Say what you like about Amazon, but it’s much more customer-centered than omnichannel — and not just because it began life as an online pure play. For better or worse, everything Amazon does is focused on the customer experience. Is that the secret to its success?
Glenn Taylor, Senior Editor: Becoming a business that creates a seamless experience across every channel obviously requires setting priorities — meaning some goals, even worthy ones, get pushed toward the bottom of the list. While it’s great that retailers are focusing their omnichannel efforts on customer retention and acquisition, I see a problem when only one-quarter of companies prioritize reacting more quickly to business/market changes (27%) and localizing assortments/services (22%). As retailers sharpen their personalization skills and seek to cater to consumers at a more individual level, localization — whether through product assortments or customer service representation — will have to be a prime differentiator. Additionally, the ability to adapt quickly to changes is exactly what separates innovative businesses from companies that fail because they turn things around too late — so it’s a little unnerving that most of the retailers surveyed don’t at least consciously prioritize this goal. Maybe the majority thinks they’re doing this well enough already? Either way, this is an area where it’s much better to be safe than sorry, so hopefully next year more retailers will emphasize reacting rapidly to changes.
Bryan Wassel, Associate Editor: This year’s omnichannel survey shone a light on an area where retailers have much room for improvement: just 26% allow customers to access inventory data on personal devices and place/modify orders. As the results of Thanksgiving Weekend showed us, shoppers are using their devices across their entire retail journey: 68% of Thanksgiving e-Commerce traffic came from a mobile device, rising to 70% over the holiday weekend. Empowering shoppers on the devices they use most can go a long way in eliminating friction – an estimated 8% of package shipments were delayed during the holidays, and giving these customers a quick and convenient way to check on their orders and modify them as necessary would have helped minimize the headaches that these unavoidable hassles create.