Retailers struggling to master omnichannel

Nine out of 10 of retailers surveyed say they have an omnichannel strategy or plan to invest in one soon, according to the survey of 352 US retailers.

While 87% of retail leaders agree omnichannel strategy – a seamless experience regardless of whether a purchase is made online, in-store or via a mobile device – is critical or very important to business success, only 8% say they have achieved it.

The study also found that 74% are are dissatisfied with the execution and progress of their omnichannel approach. Technology is a barrier, with only 12% of retailers saying they have the right technology in place to support their strategy.

The key benefit of successfully implementing an omnichannel strategy is the provision of better customer service, according to six out of 10 respondents.

The online survey was conducted between August and September 2017, by Brightpearl, which provides cloud-based enterprise resource planning (ERP) for retailers and wholesalers. Respondents were headquartered primarily in the US, across the information technology, financial services, consumer products and education sectors.

“The ability to effectively operate across all possible retail channels is difficult,” said Derek O’Carroll, chief executive of Brightpearl. “The retail industry is undergoing a metamorphosis unlike anything it has experienced in decades. Customers are demanding, competitors are relentless in their pursuit of customer acquisition, and operational challenges abound as retail extends beyond brick and mortar to include online sales driven by mobile commerce."

"Retailers need to invest more time and resource into technology to effectively implement their omnichannel strategies or face being left behind.”

A recent report from GfK found that the trend for consumers combining online and physical shopping is increasing, even for everyday items.