Omnichannel approach and pop-ups: The new retail dictum
The retail sector is witnessing a churn across the globe and in keeping with the digital era, the conventional shopping stores are undergoing a transformation. The vision behind this facelift is to increase touchpoints with customers.
The e-commerce boom and shopping pattern of Gen Z consumers have made businesses realize that their online and offline platform cannot work in silos anymore. Thus, the new omnichannel stores offer both online and offline assistance to customers. This approach has become crucial for entrepreneurs as it helps create a seamless experience for shoppers.
An omnichannel approach, however, must not be misunderstood for multichannel retail concept. The fundamental distinction between the two approaches being — a multichannel retail offers different channels of purchase/interaction to consumers but all these mediums work in isolation; on the other hand, the omnichannel approach offers integration between sales, marketing, and communication channels.
The approach assumes even more significance as ensuring consumer loyalty has become harder than ever. A recent survey revealed that as many as 55% of buyers actively switch brands even when satisfied by purchases.
What omnichannel stores offer?
Customers are provided the facility to browse products online in omnichannel stores. They are given the option to pick up a product in the store and make the payment online to avoid long checkout queues. Also, a customer who has made an online purchase is given the facility to return the product at the physical store.
Why choose an omnichannel approach?
A customer comes to your fashion store and finds that the jacket she wants is out of stock. Then, you assure her that it would come within a week. Now, do you think she will wait for a week? Probably not. But if you had an omnichannel store, she could have bought the jacket using your online platform while in the store.
Online shoppers are no different. They don’t want to see the “out of stock/unavailable” tag on the product they want. Thus, facilitating shoppers with well-integrated channels so that they can purchase products anytime and anywhere drives business and promotes customer loyalty. Also, omnichannel customers spend 20% more than multi-channel customers, according to a business report.
Pop-ups and the omnichannel
Fueling this omnichannel approach are pop-up stores. Traditionally, pop-up stores were (and still are) used by entrepreneurs to cash a seasonal trend or by those who want to run a brick-and-mortar business but lack the capital to lease a shop. However, the relevance of pop-ups shops has gone beyond the conventional definition of the term and today, every player is joining the pop-up bandwagon.
The e-tailers use pop-ups to reach new customers and grow brand awareness; the retailers, who run a single store, use pop-ups to test the viability of opening another branch or drive customer traffic to their permanent location; and the retailers, who own multiple stores, use pop-ups promote the launch of a new range of products or provide their consumers with a hybrid shopping experience.
As this trend is fast gaining popularity among shoppers of all ages, pop-ups have become the new medium to have an omnichannel retail approach.
So, embrace the digital age with omnichannel retail. Serve better, sell better!