Omnichannel retail strategy: where to go?
On the one hand, there’s no end to the online boom in sight. In fact, the "attack" on stationary retail has only just begun. GfK studies show that e-Commerce is rapidly gaining ground in categories that were previously little affected, such as the furniture trade. At the same time, the online growth curve has plateaued in industries such as clothing, where it is already very high.
On the other hand, there’s still a large opportunity for brick and mortar retailers to win over consumers: 50% of super-connected consumers in 25 key markets worldwide state that experiences are more important than possessions. By designing their stores as social venues while transmitting intensive brand and product experiences, retailers and manufacturers can kill two birds with one stone. They absorb the irritating showrooming trend and they optimize one of their omnichannel retail strategy’s key pillars.
So, let’s look at some global players along with the omnichannel ideas they’ve developed and ultimately, launched – with success, as shown by customers’ feedback.
Consumer electronics – best practice
With 70%, consumer electronics is the category that ranks first in the world in terms of consumers’ shopping activities, both online and in bricks and mortar stores. People go to shops to check out and get a feel for smartphones, tablets and MP3 players. But instead of buying in-store, they look for a better deal online – and often purchase another brand in the end. Too many consumer electronics brands still fail in keeping both existing and potential customers within their brand universe across channels.
Samsung, for example, had to accelerate growth by moving beyond excellent engineering to create an emotional connection with consumers. Their products were outstanding. But the marketing challenge was to move beyond technical features to emotional benefits. They were forced to adjust their brand experience – for each channel. After conducting some market research, they brought the best elements of the Samsung flagship brand stores to their retail customers in Europe and the US. Now, South Korean high-tech store design, for example, can be experienced in the new branded Samsung experience shops in Best Buy and Verizon stores.
Samsung has since taken omnichannel presence to the next level. It made a major commitment to social media. This sent shoppers flocking to its Facebook and Twitter pages and reinforced its message all around. Based on a sensational explosion in click rates and significantly increased sales, Samsung ultimately decided to expand this emotionally enriched omnichannel sales concept to more retailers and more countries as quickly as possible. Just take a look around to experience Samsung’s refreshed brand universe.
Food and beverage – best practice
While the food and beverage category ranks fairly far behind others when it comes to omnichannel purchase behavior, consumers around the globe feel ready to order and buy food, soft drinks and other kinds of FMCGs online – given the opportunity. Younger consumers in particular will lean more and more towards primarily ordering FMCGs online – at home, on the go or even while in stores. Food and beverage retailers can succeed if they expand their mobile, personalized and connected device offerings. Yihaodian in China is a brilliant example of how digital retail can be organized.