Growing Consumer Expectations
We live in a world of insatiable consumer demand. Across industries, consumer habits are shifting, and expectations of delivery are rising quickly. In an age where digitalization is sexy and e-commerce power houses, like Amazon, set the bar as the norm, consumers want more, and they want it now.
The antiquated days of traditional shopping are in the distant past. Think. You decide you need a new black sweater. So, you drive to your neighborhood store, seek out said black sweater, make your way to a human cashier, to whom you hand over your credit card and exchange a few pleasantries. You exit the store and rush home to show off your new sweater.
Today, we have many options to acquire said black sweater. Technology has wholly disrupted the retail industry, with a clear majority of consumers now starting transactions in one medium and finishing them in another. The black sweater shop owners of the world must be flexible with the changing nature of customer expectations of delivery, or they will be left behind by the Amazons of the world.
The Rise of Omnichannel Strategy
“Omnichannel” is defined as a type of retail setting which incorporates the different methods of shopping available to consumers (i.e. online, in a physical shop, by phone, etc.). Omnichannel strategy is a business model that integrates all physical and digital channels to offer a seamless and unified customer experience.
All possible order channels must be integrated to provide a seamless experience for consumers across all channels and touchpoints.
See figure above for the channels that drive the most consumer purchases (BigCommerce’s 2019 Omni Channel Retail Report).
Optimizing order management is a crucial component of a successful omnichannel strategy and critical to maintaining margins and satisfying customers’ expectations. There are four foundational order fulfillment capabilities that should comprise a modern omnichannel skillset for any retailer, and they each should be employed under specific conditions.
Our Clients’ Challenge
CGN has found that retailers face various challenges in their quest to implement a successful omnichannel strategy:
The CGN Framework
We meet our clients challenges every day and drive results by applying our proven approach. Our solution portfolio includes: