Having the ability to offer consumers a multichannel shopping experience has become the new retail industry standard. The buying process is now more personalized and frictionless than ever before.
Continuing to appeal to growing consumer needs is the primary way your brand can continue to thrive in today’s competitive industry. The Quivers team has defined the must-do strategies to meet omnichannel consumer buying needs. Our list has the most effective tactics to boost both sales and create a seamless buying experience for the consumer.
1. Fast Delivery
Our number one strategy for any brand is developing a faster delivery time. In fact, brands that utilize Quivers, have responded stating:
“Quick shipping is something I look for in a company. Can’t believe how quickly my purchase arrived!” -Kicker consumer
Online shopping is the largest tool a brand has to create an omnichannel experience for the consumer. Did you know, that according to the US Department of Commerce, 2017 represented the largest growth in online retail ever. With e-commerce representing 13% of total retail sales and 49% of overall growth.
This shows that consumers are purchasing heavily online, which is a huge opportunity for your brand to capture new sales. Although it may be easy to setup an online store, consumers require certain demands to be met when buying online. From our knowledge and research, the number one consumer stipulation when it comes to online shopping is quick shipping.
66% of shoppers bought products from one retailer in preference over another, because of appealing delivery services. Of this, 96% said a positive delivery experience would encourage them to purchase from an online store again. - 2017 eMarketer Study.
By integrating local retailers into the fulfillment process, your brand can deliver orders speedier, and create the ultimate consumer shopping experience.
Not only will you impress consumers with fast shipping, by collaborating with the retailer network, your brand will save money. Shipping orders based on consumer proximity, allows for reduced shipping costs, as well as minimized discounting at retail locations. Save money, and save time. Nothing beats a win-win opportunity!
2. Full Stock Availability
In our research, we found that many brands experience out-of-stock inventory as a cause for significant revenue loss year-over-year. To solve for this, Quivers suggests leveraging retailer inventory for online order fulfillment, consequently increasing stock availability.
As much as $17 billion of potential sales are lost each year, due to lack of product availability. - 2018 Grocery Manufacturers Association Study
By taking advantage of retailer fulfillment to expand product visibility online, your brand will generate new sales opportunities and increase average order volume.
“Very happy with the extensive product availability” - Scott Sports consumer
To keep consumers coming back for more, your brand must continue to have more to offer. Enhance the consumer buying experience and reduce cart abandonment with increased product selection.
3. In-Store Pickup
Consumers want access to your full product selection, along with the ability to receive products in the manner that most suits their individual needs.
67% of shoppers use buy online, pickup in-store as their preferred fulfillment option. - According to a 2018 Zebra Insights Report
Offering same day in-store pickup and ship-from-store provides consumers with convenience and choice. This creates a seamless online-to-offline shopping experience for the consumer.
Fashion giant Nordstrom, has been investing heavily in eCommerce by launching capabilities like buy online, pickup in-store. In the second quarter for financial 2018, sales for that channel rose by 25% according to Co-President Blake Nordstrom.
Show consumers your brand has so much more in-store for them by connecting online shoppers to local retail storefronts for support on products. This is another great way to go above and beyond consumer expectations.
The industry trick to becoming omnichannel excellent is implementing these three strategies within your organization.
Quick shipping with the help of your retailer network, full stock availability, and in-store pickup or ship-from-store delivery, are the dominant needs of today’s hustling-bustling consumer. So tell us, how is your brand reaching omnichannel excellence?
To get a closer view into Quivers omnichannel solution, take a look at our Consumer Survey Data compiled from the orders placed from a handful of brands that we serve:
Quivers: Powering the order fulfillment collaboration between brands and retailers, strengthening wholesale relationships, solving and simplifying inventory challenges, while aligning with the online-to-offline expectations of the evolving consumer.