Essential Strengths Of Omni-Channel Retail Platform.
The evolution of technology has intertwined people’s lives with the internet. People use different devices at different times, and they expect to make purchases when they want. The retail industry has recognized this trend of demanding customers and is looking to incorporate changes to be available across multiple channels. Read below to know the advantages:
Advantages of Using an Omni-Channel Platform
An omni-channel platform uses the strategy of providing customers with an integrated shopping experience. It can start from the offline store to mobile applications to social media platforms and the wide range of offline and online possibilities offered. By doing so, retailers get the below advantages:
Meet the Customers Where they Want
Having an omni-channel presence means that your business is more customer-focused. For example, the customer checks out an item in a nearby store and books it online, this information is available across all channels. This flow of information makes the customer journey more enjoyable as the exact stage of the shopping journey is captured and reflected. It also helps the retailers build a better relationship with their customers and engage them on a personal level through a variety of channels.
Boost in Conversion Rates
Customers want convenience, and an omni-channel platform provides them just that. With multiple digital touchpoints, smart kiosks, and self-serve tablets, the sales in the retail industry have increased by up to 49%, as per a Forrester survey. This essentially means that an omni-channel strategy beyond having online and offline stores are necessary. Those businesses that serve the customers at the right place and time can boost conversion rates and sales.
Integrate Business and Manage it Effectively
The omni-channel retail platform provides great value to customers. Additionally, it also helps seamless working of disparate applications. An omni-channel platform integrates various processes like inventory, enterprise resource planning, sales, customer service, and more. It integrates various applications in the retail business seamlessly and thus adding great value to the product and its quality of service.
Get Better Customer Data
Having an omni-channel platform means that no data transactions are lost in the process of tracking. The platform tracks all the data including, what purchase a customer is likely to make, tracking demographics, interests, and more. Every detail of a transaction that a customer makes has great potential and hence needs to be monitored. This also allows retailers to make personalized and customised promotions so that the customers feel privileged.
Retailers spend money on advertising, but despite that, there is nothing like word-of-mouth advertising. A study shows that more than 90% of the customers believe recommendations from friends and family over other forms of advertising. An omni-channel retail platform can be used to engage customers in various popular platforms and drive engagement and sales through it.
The omni-channel retail platform meets the needs of a modern customer by being flexible, fast, and cost-effective, with a good customer experience at the heart of it. Since most retail businesses don’t have the systems in place to handle these, PayAid provides a single platform solution that offers scalable and highly functional offerings.