05 Jul Digital Commerce Transformation: The Omnichannel Mandate
As the second blog in our Digital Commerce Transformation series, we move from discussing the architectural shifts that are driving increased visibility and reuse of data in “Monolithic to Microservices” to the omnichannel mandate for a 360⁰ view of the customer.
In 1845, Tiffany launched its blue book, the first mail-order catalog seen in the US. Over the years, the channels grew and in-store, catalog and online were joined by mobile, kiosk, Amazon Dash buttons and screenless commerce. Increasingly, customers demanded a unified customer experience across touchpoints.
This is where the biggest tech players helped create true omnichannel experiences. Products such as Oracle Commerce Cloud, Marketing Cloud, Service Cloud, Sales Cloud, Social cloud, Retail Cloud, etc., are fully integrated and provide a unified brand experience for the customer. Whether the customer is online, in the store, on the phone with customer service or interacting with the brand on social media, they expect shared information and an understanding of all interactions.
As customers use an increasing number of channels, we see a growing demand for omnichannel solutions as part of our customers’ digital transformation strategy. Gartner, Inc. states, “Through 2020, more than 25% of enterprises seeking to achieve unified omnichannel customer engagement will encounter irreconcilable people, political or organizational issues.” These are important factors to keep in mind when developing your strategy or working with a services partner. Exploring the omnichannel mandate from a technical and cultural level will allow you to deliver more effectively against your plan.
And, there is a clear payoff for those who engage consumers across multiple channels. eMarketer reports, “US omnichannel customers—those buying in-store and online—make up only 7% of all customers, according to Criteo data from November 2017. Yet this small segment is responsible for 27% of all retail sales. By comparison, 49% are offline-only buyers and generate 49% of sales, while 44% are online-only buyers and contribute to the smallest share of sales (24%).” Consumer expectations are for multichannel access as well as personalized services. Through headless commerce with reusable APIs to UX audits and BI, we’ve helped clients create a digital roadmap that keeps the end-user in mind while decreasing costs for the business.