Why an Omnichannnel Payment Strategy is Worthwhile in 2017
The term “omnichannel” has become so ubiquitous in marketing circles that it’s hard to pinpoint exactly when this term took hold. The general consensus is that omnichannel emerged in 2007, with the introduction of the iPhone. However, Retail Systems Research proposes that the roots of omnichannel lie in the idea of “customer centricity,” which retailers were exploring much, much earlier. Omnichannel strategies provide a path that cultivates customer loyalty and higher spend by putting the consumer at the center of the buying experience — both online and in-store.
By weaving together in-store, mobile and online operations, omnichannel strategies deliver a seamless shopping experience. Omnicommerce is about more than just securing the funds to pay for goods and services; it’s about the entire customer experience, from speed of checkout to loyalty. By investing in tools that use digital means to encourage in-store visits (and vice versa), retailers can harness the advantages of all channels.
Adopting an omnichannel strategy is all but mandatory to reach today’s smartphone-savvy shoppers. Increased adoption of mobile devices has given way to a more lucrative consumer who engages with retailers via multiple touchpoints, both online and offline. And there are a lot of them — 73 percent more consumers are omnichannel shoppers, according to a survey from the Harvard Business Review. The survey also revealed that omnichannel shoppers are more valuable than those who make purchases strictly online or in-store. Consider the following: