The pandemic accelerated the move to online shopping. With lockdown restrictions having been in place, it’s no surprise that global e-commerce grew by 25% in 2020; it’s expected to grow by 17% in 2021. Consumer habits and behaviours have changed like never before.
Redefining omni-channel for a better Retail experience
Even though the gap between online and in-store is closing dramatically, with digital engagement at levels forecasters had predicted would only be reached years in the future, there are very few people who shop online exclusively.
A recent survey carried out in the UK revealed that almost 75% of shoppers have missed the in-store experience showing how important bricks and mortar still is for most consumers.
Months of online shopping has spoilt customers who see no distinction between channels and are only concerned about the overall experience. They expect to be able to begin shopping online and complete the purchase in-store; or start in a shop but end with the goods shipped home, or to a location of their choice.
Shopping on the consumers’ terms can be challenging. They’ve come to expect total flexibility in what retailers offer. It’s the retailer’s job to make shopping memorable, exciting and worth repeating. This is the time to be creative and deliver a new shopping experience.
How do you deliver a better than ever retail experience across online and in-store? And how can you improve conversion rates and make every payment moment count?
Planet’s new Retail Report examines what retailers can do to build an exceptional personalised omni-channel shopping experience for shoppers from start to finish. One that delivers a consistent customer journey, generates more revenue, reduces complexity and cost and makes each moment count, every time.
In the report, Planet presents the case to re-define omni-channel to deliver a new unified commerce platform. One that fuses all the theatre, sensory experiences and immediacy of being in-store, with the unlimited inventories, safety and speed of online shopping.
The challenges retailers face with stock management
During the pandemic, retailers quickly adapted to offer customers access to endless stock rooms, fast delivery and one click checkouts, without a queue. As shoppers also head back in-store, they’re demanding a better than ever shopping experience across all channels, with more convenience and value.
Having seen what’s possible, the opportunity is to now take the best of online and bring it in-store, while building on all the advantages that bricks and mortar have always enjoyed.
Yet as customers move between online and in-store, one of the biggest headaches for retailers is how best to deeply integrate disparate stock management systems with payments technology across all channels and physical locations to offer a consistent retail experience.
A unified commerce platform provides a solution. This synchronises all sales channels, harmonising them with stock management systems and payments across every location and channel to deliver a better way of working for retailers. It makes no distinction between online, in-store and mobile. It’s all the same – for purchases and returns.
In the report, Planet looks at what is required to deliver a unified commerce platform, in particular the connections needed across all platforms and payments systems to enable a seamless experience.
Allowing shoppers to pay how they want
Retailers want the payment moment to be slick and hassle free.
Consumers have become accustomed to the ease and efficiency of paying online, often with just one click. At a minimum, payments in the real world must also be safe, efficient and as effortless as possible.
There’s been an explosion of payment methods which means it’s important to offer customers as much choice as possible or risk losing a sale.
But while this helps better personalise the service, it can come at the cost of efficiency. In the report, Planet also looks at what retailers can do to simplify payments, while allowing shoppers to pay how they want to pay for purchases and returns.
Make sure you’re ready to handle the demands of your savvy shoppers so that you get more Tinngggg in your payments.
To Download the Report CLICK HERE
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