Omni-channel Strategy 101Rico Beans - MBA, CSCP

Omni-channel is connected and engages consumers throughout the purchase funnel

•Multi-Channel

•Omni-Channel

All channels available to customers but not integrated

All channels available to customers and are connected

The path to purchase has become more complex as connected customers utilize a wide range of channels when shopping

AwarenessLearning about product via marketing vehicles

ResearchFinding product details in store, online, and apps

PurchaseCompleting the purchase whether in-store, online, or mobile

FulfillmentPicking up the product in-store or having it delivered

LoyaltyBeing an advocate for the brand by recommending to others

Leverage the P.R.I.C.E model to assess and build your omni-channel strategy

•Experience

•Information

•Range•Price

•Convenience

The opportunity to engage customers beyond brick & mortar is prominent in several product categories

Electronics & Appliances

Entertainment & Leisure

Apparel & Footwear

Consumer Healthcare

Beauty

Personal Care

Home & DIY

Grocery

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Ecommerce Penetration by Category

Penetration

In consumer electronics and home appliance, ecommerce penetration is 34% due to an increase of customers purchasing online

Consider these 6 tips when building an Omni-channel strategy

Be customer centric: Personalize to individual customers were possible. Emphasize product data by providing content and customer reviews.

Harness the power of data & analytics: understand not just customer transactions but customer interactions such as visits to store, social media and search

Learn to sell niche products: Leverage online to sell niche products that are not economical for store sales.

Integrate Channels: Carry info provided by customers on one channel to other channels such as abandoned carts

Establish switching costs: Establish privileges and perks for loyal customers. Differentiation should be based on user experience vs. price advantage

Develop the right partnerships: Identify the retailer that will share data and provide resources to reach your customers

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