In this growing world of technology, business holds a special place. Innovation and agility are critical factors for business success. So how can be Omnichannel in business defined in detail? Consistent sales across all the Multiple Channels like physical stores, online, e-Commerce, social media
The beginning of Omnichannel from e-Commerce Model:
As many of us are aware of what e-Commerce is, a business model for the sale of products online. This has been the most common model of business for quite a long period. Therefore, Omnichannel sometimes referred to as Omnicommerce is a business model that is now becoming a buzzword in the market. However, traditional commerce was in existence before the internet and e-Commerce evolved.
Considering the present day situation, various businesses are planning for a transformation of Omnichannel model using Multiple Channels for profitability and growth. However, there exists a shift. Let us know of how this shift motivates not only profitability and growth, but also ultimately customer success.
Brief idea of marketing strategy in the transformation from traditional to Omnichannel:
Initiallyexchange of items between the customer and seller was the source to buy products. This howeveris a traditional source of commerce that happened in 1846 in the USA.
- Later with the introduction of the credit card, cash turned to be a source of purchase from the early 1900s to a longer period.
- This traditional way of commerce was beneficial for both the consumer and retailer. It was a direct interaction among the parties, low returns rate and risk-free for business owners.
- Operation of internet promoted the approach of business with e-Commerce model that exploded in 1994. And now turning into Omnichannel model, which is becoming an EMERGING TECHNOLOGY.
Now let us get into the plan of action of why this transformation happened that too in a huge manner:
In the world of business, from the late
In what ways does Omnichannel benefit Customers & Retailers?
- Convenience is the foremost factor by most of the online customers, which brings in a doorstep delivery and that too with an available channel to order. This reduces
burdenof maintenance to the shop owners. Needof social networking has grown drastically in the recent past, so people browsing Facebook, LinkedIn (Respective Hyperlinks), Twitter, Pintrestetc have been an attraction to the popular brands, which started advertising hugely.
- Affordable or cheap prices on products as competition grew among the business owners that results in fixing comparatively low prices online to that of physical stores. This in-turn is definitely an earning strategy for retailers by increasing online campaigns.