The Rise of Omnichannel

 

The Rise of Omnichannel

 

Omnichannel started back in 2010 and has been steadily growing over the years. Omnichannel is to have seamless customer experiences from all channels and make customer engagement at ease with the company no matter where or how they are interacting from. This isn’t the news and certainly not new. The news is how omnichannel is going to change our world dramatically.

 

At the end of 2019, while everyone is celebrating the new decade to come, and the e-commerce seems to be growing consistently. THE pandemic happened. As I believe, everyone on earth knows that almost all of the major countries went into lockdown and not able to maintain a regular lifestyle. This made the perfect storm for omnichannel to shine. Omnisend researched1 that in 2020, marketers using three or more channels in any one campaign earned a 287% higher purchase rate than those using a single-channel campaign. Order rate is even higher at a whopping 494% increase compared to single-channel. According to McKinsey Quarterly2 we have seen 10 years’ growth of e-commerce in just 3 months.

 

Before the pandemic, people tend to look-up a product first and then go in-store to see it in person again. But pandemic had this behaviour drastically changed as we were not able to shop in-store or even go out entirely. Customers have their expectation of customer journey blurred between physical and digital. You can order food before you even enter the restaurant, click & collect service has grown rapidly throughout the retail sector, online chat with the company without going into the physical company has been adopted widely and you can even try out sunglasses or clothing by using VR technology for your comfort at home. These are the things that have been existed but being accelerated by the pandemic. We started to use more and more channels to communicate with companies and expected them to be cohesive and consistent. This is where omnichannel comes into play and it is here to stay.

 

A study at Marketing Evolution3 shows, omnichannel has been adopted by many industries now including food, pharmacies, retail, healthcare, financial services or even automotive that typically only involve with physical stores. They found retailers are focusing on the brand more, not the channel and their customers believe they are engaging with one unified brand regardless of the various touchpoints that they use.

 

In the past, we focused on multichannel which is by getting more channels possible to reach more customers. Now, we need to pay attention to combining all the channels and providing unified services in order to adapt to the rise of omnichannel.

Written by Kuan-Yu Lan

 

Reference:

 

  1. Omnisend Blog. (2020). What We Can Learn from Omnichannel Statistics for 2020. [online] Available at: https://www.omnisend.com/blog/omnichannel-statistics/.
  2. mckinsey.com. (n.d.). Five Fifty: The quickening. [online] Available at: https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/five-fifty-the-quickening.
  3. Evolution, M. (2021). What is Omnichannel?[online] www.marketingevolution.com. Available at: https://www.marketingevolution.com/knowledge-center/topic/marketing-essentials/omnichannel.