Malaysia’s Omnichannel retailing
Everyone keeps talking about the digital transformation and its impact on businesses. Evolving from single channel to multi-channel and now, omnichannel retailing, companies and brands must advance along with this rapid growth using synergistic strategies to survive and thrive.
To benefit and ride along the waves of these trends, it is vital to first understand the concept and find the right tool. Then, the path ahead can be paved with concrete planning to reach goals and successes without excess.
Omnichannel retailing, according to PwC Malaysia, is the act of selling by retail on all channels to tailor a seamless shopping experience for the customers. By using a fully-integrated, consumer-first approach, retailers can offer a complete end-to-end consumer journey, providing a consistent and continuous brand experience while building a personal connection with each customer.
Today, many retail companies have incorporated the multi-channel model by promoting their products on various platforms including online and offline stores. It is often an attempt to push sales and increase exposure for their products. Customers can then choose to buy from whichever option they prefer. However, issues arise when companies struggle to update real-time stock balance or manage more than one marketplace with consistency. They have to come up with a structure or proper planning to make sure that there will be no mistakes or disorders causing penalties such as insufficient stock for customers, delayed responses on various platforms, or waste of expenses on channels that generate no return.
As sales, marketing, and customer services are made accessible on multiple outlets, the analytics and performance can also become confusing or troublesome to handle. The time, effort, and organisational skills required to combine everything for review will eventually create increasingly burdening tasks. This means that more manpower is needed, and the costs for all these can be daunting.
Moreover, the lack of efficiency in multi-warehouse management can also lead to a delay in delivery or slow service, adding more unhappy customers to the pile of worrying setbacks. Over time, it can even affect brand reputation and bring detrimental consequences that no brand would ever want.
Nevertheless, there is a practical solution to this tricky situation.
Omnichannel retailing, an all-in-one model which integrates a greater range of channels, has been designed to free businesses from the troubles and offer customers a frictionless shopping experience. It is an innovation that most retailers now use to boost sales growth rapidly without being bothered by the risks of customer churn during expansion.
If you’re part of the retail industry but have not dipped your toes in the omnichannel strategy, it’s time to explore its countless benefits!
Find out how ZENXIN Organic flourished with its extraordinary omnichannel approach.
In a world where customers can’t survive without having both in-store and online shopping, retailers must learn to take full advantage of the omnichannel approach. Its great deal of benefits includes:
- Boosted sales with a seamless retail journey
- A higher level of customer satisfaction
- Quicker responses to customer enquiries and requests
- Stronger brand loyalty with personalised customer experience
- More coherent workflows and maximised efficiency
Omnichannel retailing is undoubtedly beneficial for marketing, customer support and stock management. Through features such as automation, personalised messages can be broadcasted across whatever channel your customers prefer.
Click here to know more about the examples of omnichannel retailers in Malaysia!
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