Challenges Retailers are Facing into Days Omni-Channel World!

The approach to retail marketing is changing. Success now lies in reaching customers through various

channels-whether through stores or through e-Commerce sites. As technology continues to touch every

step of the customer journey, retailers are ensuring that their marketing strategies are geared towards

enabling customers to convert on any channel. They have realised that a customer who buys from them in-

store as well as online, is valuable! The 2015 study by IDC, shows these customers have a 30% higher

lifetime value than those who purchase using only one channel.

With customers buying across multiple channels, a seamless, consistent shopping experience has become

important; from the way each channel looks, to the technology used to power them. Customers expect

every touch point across the shopping experience to be consistent and convenient. But there is a gap

between customers’ expectations and retailers’ capabilities. Retailers face a number of challenges in

creating a truly omni-channel environment, including technical challenges, organisational silos between

channels, and poor operational execution. Below listed are some of the major challenges faced by retailers

to becoming an integrated omni-channel company:

Technology and Integration Challenges

According to a research, around 40% of the retailers faced difficulty in integrating back-office technology

across their different channels.

It is essential for retailers to provide a consistent and contextual service across all its channels and

interaction by adopting new technologies helping them transform to omni-channel customer engagement

and service. This is important for their survival and to meet clients’ expectations.

Organisational and Operational Challenges

As per a survey, 46% of the decision makers already have a dedicated omni-channel team including

members of all functions, where there is a conflict of priorities and organisational silos. Omni-channel

retailers also face the challenges of sharing customer data and analytics between channels, countries and

locations and lack of in-store associate training.

Data Management

It has become difficult for omni-channel retailers to manage their data due to its wide availability and

increased expectations of customers to have access to detailed product information. This has made

retailers to search for solutions that can supplement or replace their legacy item master and data

repositories.

Inventory Visibility

Retailers face the challenge of maximising their inventory to ensure it is accessible via all selling channels

and customer engagement points. It is difficult to achieve a single, channel-agnostic view of customers and

inventory is the most essential aspect of any omni-channel retailer.

To fulfil this, retailers should be able to serve the needs of the customers buying from any channel.

Omnichannel retailing is important for creating a more consistent consumer experience across in-store,

online as well as mobile channels, leading to an increase in the brand’s relevance to its customers.

So how can retailers make the move to Omnichannel?

SAP Business one offers the functionality that omni-channel retailers need, to optimise their operations. It

provides customers with the information and personalised experience they want at any point in time

across all channels. SAP Business One will enable you to be in a position to eliminate some of the most

common retail challenges while capitalizing on new profitable opportunities

Sliver Touch Globally has been a partner of SAP for over 5 years and has implemented over 90 solutions in

15+ industry verticals. Our services include SAP Business One license procurement, installation,

implementation, customisation, add-on development and training and support.

To find out more about how SAP Business One can help you to overcome the challenges of omni-channel

retailing, get in touch with our team by calling us on +44 – (0) 124-520-6182 or dropping us an e-mail on

info@silvertouchtech.co.uk.

Original Source: https://www.silvertouchtech.co.uk/blog/challenges-retailers-facing-days-

omnichannel-world/