Omnichannel is a multichannel approach to sales that seeks to provide the customer with a seamless shopping experience whether the customer is shopping online from a desktop or mobile device, by telephone or in a bricks and mortar store.
Vend University has recently unveiled its top 12 trends and predictions for 2016. It highlights the importance of taking an omnichannel approach to win customers and keep them coming back for more. Here’s a summary:
1. Retailers will give consumers more payment options.
The rise of mobile payments will nudge merchants to update their old payment terminals to newer models, which will not only help retailers with compliance and security, but also enable them to accept more payment options.
2. Mobile will play a bigger role in click-and-collect initiatives.
Traditional click-and-collect programs typically involve people shopping online then picking up items in-store. In 2016 though, we can expect mobile to play a bigger role in this process and expand click-and-collect options.
3. Retailers will unify their online and offline data collection.
Since today’s consumers go through multiple channels in their path to purchase, collecting and studying data in silos won’t cut it anymore. Smart retailers will need to look at online and offline data when making business decisions about what to offer their consumers and how.
4. Retailers will continue to remove friction from shopping.
In 2016, we companies will further explore ways to reduce friction in the shopping journey. Note: friction means impediments/hurdles or stages in the buying process, which may lead to customers reconsidering their purchases.
For example, there’s the Amazon Dash buttonwhich makes re-ordering possible with literally just a push of a button.
5. Merchants will adopt in-store mobile devices.
In 2016, it is anticipated that the adoption of mobile devices such as mPOS systems and in-store tablets will continue to grow.
6. Old school loyalty programs are on their way out.
Modern consumers still value rewards and promotions, but they don’t matter as much anymore. According to a study by MasterCard, only 18% of respondents considered promotions as important. The study also found that “in choosing a retailer, omnishoppers prioritize value, track record and convenience, over loyalty rewards.”
This isn’t to say that loyalty programs won’t be successful in 2016. But it’s important to note that simply implementing rewards won’t be enough to stay competitive. In the coming months and years, the retailers that will win are those that offer personalized rewards, coupled with great products and convenient buying experiences.
7. In-store retail alone will disappear.
A study by MasterCard found that eight out of 10 consumers now use a computer, smartphone, tablet, or in-store technology while shopping. Forrester also predicts that cross-channel retail sales with reach $1.8 trillion in the US by 2017.
Omnichannel is showing no signs of slowing down, and in order to keep up, retailers – whether they’ve started in brick & mortar or ecommerce – will need to merge their physical and digital systems to serve omnishoppers.
8. More retailers will opt for single-view and cloud-based solutions.
The days of managing online and offline systems separately will soon be gone, as more retailers switch to single-view retail management systems.
Having a single view system across multiple channels is essential to any modern retail strategy. Gaining sales, inventory, and customer visibility across different channels allows merchants to execute their omnichannel initiatives more effectively, so we can expect retailers to adopt more of these systems going forward.
9. Retailers will invest in omnichannel fraud management.
Omnichannel retailing introduces a lot of complexities, not just in terms of operations and order fulfillment, but also when it comes to fraud prevention. In an omnichannel world, it’s no longer enough to combat fraud in silos.
Still, it is hoped these numbers will change in 2016. While omnichannel fraud management will continue to be a challenge for the retail industry, we expect more merchants to realize just how crucial it is to implement security measures across different channels.
10. Social will grow as part of the omnichannel mix.
Social media has been playing a big role in the shopping journey for a while now, and it will continue to do so in 2016 and beyond.
11. Stocking up on more merchandise won’t cut it anymore.
An increasing number of retailers are learning that having more products won’t necessarily win over customers. Shoppers these days are already overwhelmed with too many choices, so widening your range can sometimes do more harm than good.
This could be one of the reasons why we’ve seen a rise in subscription services that curate products for customers. Such services make it easier for customers to discover and select products, thus saving them time and preventing decision fatigue.
12. More retailers will look into the Internet of Things to enhance the shopping experience.
Mobile devices are just the beginning. In addition to using mPOS systems and in-store tablets, some retailers (particularly larger merchants) will likely look into ways they can leverage the Internet of Things (IoT) in their locations.
To Summarise, Omnichannel will be integrated into every aspect of retail.
The key focus for retailers in 2016 will be omnichannel. No matter what industry you’re in or how complicated your operations are, bringing online and offline together is important in every facet of your retail business.
To find out more about our retail expertise and shopfittings, please visit www.siretail.com
To find out more about Vend University, please visit www.vendhq.com
Renew Newcastle is an innovative project that transformed an empty CBD into a lucrative creative hub by occupying vandalized or decaying commercial space until the shops are viable again.
This unique scheme started in 2008 by Marcus Westbury, a broadcaster, writer, media maker and festival director born in Newcastle and eager to find a solution to this decaying city that was once an exiting industrial hub.
The project is designed to bring life back into the CBD by allowing artists, artisans, craftspeople and community groups to occupy those otherwise empty building until the property owner can find a commercial tenant. This enhances the cultural life of the city by creating activity of interest and improves the look, feel and desirability of the neighborhood.
The project relies on the support of property owners who have vacant buildings. Property owners can define the terms they wish to make a building available on, select the project that takes place in them, and can participate on either a long term or short term, typically 30 days on a rolling basis. The temporary tenant will undertake basic maintenance, remove graffiti, and ensure that the building is an asset rather than a liability. It is a win win situation. It gives artists a chance to try out their ideas and get their name out there. Property owners get their building looked after which helps minimize crime and vandalism to their property. It also stimulates business, make the neighborhood more desirable and help attract commercial prospects.
The idea is spreading
Over 100 projects in Newcastle have had the opportunity to test their creative ideas. Renew Newcastle has been the inspiration for empty space revitalization schemes across the country, like Renew Adelaide, Renew Townsville, Made in Geelong and Pop-up Parramatta. Marcus Westbury has now developed Renew Australia to provide training, consultancy and support services to businesses, governments and community groups engaged in the creative activation of space. http://www.renewaustralia.org/
Fitting out one store or even a chain of stores across the country can be very complicated. It requires skills such as design, visual merchandising and logistic as well as knowledge in signage, fixture and display products. SI Retail will provide you with custom and generic shop fitting supplies of the best quality and at the lowest price but you might need a shop fitter's help to design the layout and install the fixtures.
Deciding on refitting your store is the easy, but implementing the project is by far the hardest part of the commitment.
The most important decision is choosing the right shopfitter. There is no tried and tested rule to this but initially the retailer should only consider shopftters or shop fitting companies who have a proven track record, ideally in fitting stores in the market the retailer trades in.
The recession hit the domestic house market very badly and many builders have decided that they are now shopfitters as well as house builders but it is unlikely that they will be able to provide the expertise that are required to plan a store and produce the fixtures to the standard that a busy retail environment requires.
Understanding your store and its customers
A shopfitter should be prepared to spend time with the retailer to understand their business and the particular issues that need to be considered when planning a layout. Customer flow is vital to a successful shop fit and category management, product placement and planograms are very important to ensure as many shoppers as possible are drawn to all areas of the store. Having the Newspapers and milk just inside the front door of a convenience store will eliminate the necessity for many time strapped shoppers to 'roam' the store and they will be in and out of the store having spent little more than $1.00.
Shelving heights (wall and gondola bays) also play an important part in this. Too high gondola shelving in a small store can create 'corridors' that blinker the shopper as well as providing an unpleasant shopping environment.
Category management signage on and above the fixtures is important to lead the shopper to the product they are looking for with promotions and special offers being placed on gondola ends to encourage shoppers to buy products they didn't come in for.
Lighting is vital. Many smaller retailers feel that adequate lighting is an unnecessary spends but this can make all the difference to being a successful retailer as the right lighting brings the store and products 'alive'.
The chosen shopfitter should be able to produce professional layouts and design schemes. Some might charge for these but many don't so make sure you establish the 'ground rules' at the beginning. You will also want to see a programme that shows what works will take place and when and how long it will take. Clearly, if it is a trading store, you will want to stay open during the refit so make sure you agree planned moves with the shopfitter to enable him to have the area he requires but also leaves you with the space required to continue to trade.
If it is a new store, make sure that you have a specific agreement of when the works will be completed to ensure that they do not drift on indefinitely.
Choosing fixtures and displays
When choosing the fixtures, it is important that the shopffiter is able to offer or produce a system that is flexible and can be easily added to. It is unlikely that the shelving mix will be right the first time so you will need to be able to access additional items fairly easily. There are many standard metal modular shelving systems available and a good shopfitter will be able to have these painted in a colour to match your scheme and manufacture specific extras to suit particular products you may sell or wish to sell.
Ensure that the shopfitters can also provide quality joinery items such as counters and cash (check out) points. Joinery shopfittings need to be able to take a significant amount of wear & tear and the process of producing them is a completely different process to that of domestic use joinery.
Additional items that should be considered and incorporated in the refit are, floor coverings, decoration, air conditioning, refrigeration, shopfronts, external signage, security shutters, security alarms, CCTV and EPOS equipment. Also, don't forget disability access and that the shopfitter understands the laws that ensure the store is disabled compliant.
As you can see, choosing a good shop fitter isn't easy, but, if you want a good job doing it is worth taking the time to make the choice properly.
Check out this link for more info about shopfitters http://adform.com.au/window-displays-revitalise-retail-life/
Top Tips For Choosing the Right Shopfitters For Your Retail Outlet By [http://ezinearticles.com/?expert=Michael_K_John]Michael K John
Article Source: [http://EzineArticles.com/?Top-Tips-For-Choosing-the-Right-Shopfitters-For-Your-Retail-Outlet&id=4285300] Top Tips For Choosing the Right Shopfitters For Your Retail
SI Retail developed the SI Direct business model to provide customised solutions for all your shopfitting requirements from concept through to delivery at the lowest overall cost while ensuring high quality.
Our own office and bond warehouse in China
This is possible because we have established our own office and bond warehouse in China to provide solutions in sourcing, manufacturing and shipping. This ensures the supply chain is fully controlled - from the start of your project through to its completion.
SI Direct eliminated the middleman
SI Direct eliminates the middleman so costs are reduced and quality and risk is better controlled. The main goal of SI Direct is to reduce costs and achieve the most efficient lead times and quality outcomes for your project. SI Direct drives a selection of processes that eliminates waste and allows the most direct route for project management, manufacturing and distribution designed specifically for each business partner.
Communication and information management
In China, we have a bilingual team of designers, quality controllers, project coordinators, product buyers and a logistic team. The right blend of Australian and Chinese management gives us the unique ability to completely understand your requirements and correctly convey them throughout the manufacturing and shipping processes.
Strong relationship with Chinese factories
We have developed strong relationships with several factories so that we can provide endless manufacturing possibilities. We have developed Guanxi with our partner factories. More than just a working relationship, Guanxi is a deeper understanding of each other's needs and wants that goes both way. Guanxi can only be developed through time and trust. Once you have Guanxi with a particular factory your needs and special favours are carried with respect.
How SI Direct works
In Australia, our Business Development team will design a plan that suits your individual needs. Once the project has been collated, it goes to our China Coordination Centre and both teams ensure all information is conveyed correctly. Our China Coordination Centre provides feedback to the Australian team on all checkpoints throughout the process. The project is then sent to our partner factories for manufacturing. We then kit products and label pallets in China according to store requirements and we pack containers for efficient unloading. It then gets bulk shipped direct to stores or to the destination of your choice.