Omnichannel

Five years ago, the Harvard Business Review called omnichannel commerce “The Future of Shopping,” and warned that retailers which didn’t begin making transition soon were in danger of going the way of Tower Records, Borders, etc. Now, with omnichannel retailers reporting 89 percent average customer retention rates — compared to just 33 percent for traditional…

Nordstrom made a bold move this week by acquiring a minority stake in supply chain software firm DS Co. The platform provides a cloud-based service that will make it easier for suppliers to directly ship orders placed through Nordstrom’s retail partners — i.e., drop shipping. For example, if a customer purchases a shirt from Nordstrom’s website,…

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The omnichannel movement is impacting every area of the traditional retail model. The new demands of omnichannel — i.e., consistency, access, availability, fulfillment and pricing, among others — challenge order management decision-makers to develop new execution strategies. Their mandate is to deliver the right product any time, anywhere at the right price for the consumer…

Ace Hardware has the most satisfied shoppers among home improvement chains for the 10th year in a row, according to J.D. Power.

Over the past decade, leading retailers have become increasingly more focused on their customers’ desire to see available store inventory online. A 2015 Forrester Research report quantifies it, showing that an overwhelming 89 percent of consumers expect this visibility when purchasing on a retailer's website. This functionality is critical to both drive foot traffic to…

According to Forrester, $1.5 trillion in retail sales start online and end in-store. Furthermore, research shows these omnichannel buyers have a 30 percent higher customer lifetime value (CLV). Want to earn a percentage of that enormous pie? To increase sales and see a higher CLV, online and brick-and-mortar retailers alike must make innovative omnichannel marketing initiatives…

With smartphones enabling consumers to be connected at all times, retailers are forced to cater to shoppers staring at their phones.

Omnichannel is a buzzword we all hear too frequently. But the truth is, many retailers aren't “there yet” when it comes to a complete omnichannel strategy. That’s why it’s so encouraging to hear when companies seem to be on the right omnichannel track. One such company is Bon-Ton Stores, the regional department store based in…

Reacting to consumers’ evolving shopping behaviors, noticeably their transitioning between online and offline channels, retailers have had to make adjustments to their organizations to ensure customers and employees alike are satisfied. Internal departments that used to operate in silos — e.g., web and store teams — have become interchangeable, including how they're compensated for their…