<p><span class="ql-color-#000000" style="background-color: transparent;">The retail industry faces a particular set of </span><strong class="ql-color-#000000" style="background-color: transparent;">challenges</strong><span class="ql-color-#000000" style="background-color: transparent;">: despite still surpassing pre-pandemic levels, this year is expected to be demanding for sellers, as consumers are under greater pressure.</span></p><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">Amidst these challenges, how can retail brands effectively target consumers?</span></p><p><span class="ql-color-#000000" style="background-color: transparent;">According to three-quarters of shoppers, </span><strong class="ql-color-#000000" style="background-color: transparent;">consistency across all channels is essential when purchasing from a brand</strong><span class="ql-color-#000000" style="background-color: transparent;">. To achieve this consistency, the most effective approach is to stay ahead of the game with a </span><strong class="ql-color-#000000" style="background-color: transparent;">top-notch omnichannel strategy</strong><span class="ql-color-#000000" style="background-color: transparent;">. We've gathered key omnichannel retail trends for 2023 that serve to foster relationships, build brand loyalty and generate higher revenue in the long run.</span></p><p><br></p><p><br></p><h2><strong class="ql-color-#000000" style="background-color: transparent;">Omnichannel journeys are getting more complex</strong></h2><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">The customer journey is now an omnichannel experience as fewer people rely on a single channel when shopping: the challenge is to turn digital and physical boundaries into seamless bridges.</span></p><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">Unexpected shipping costs, taxes, and fees contribute to high cart abandonment rates; offering a pickup option can persuade shoppers to finalize their purchases. As customers feel more comfortable going out, the "buy online, pick up in-store" (BOPIS) option becomes more necessary. Customers also appreciate the ability to return online purchases in-store.&nbsp;</span></p><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">Your business has a significant opportunity to engage customers in omnichannel experiences since 60 to 70% of customers now use omnichannel shopping options, according to McKinsey &amp; Company. Therefore, </span><strong class="ql-color-#000000" style="background-color: transparent;">your customer journey should allow for seamless in-person and online interactions as you prepare for the future</strong><span class="ql-color-#000000" style="background-color: transparent;">.</span></p><p><br></p><p><br></p><h2><strong class="ql-color-#000000" style="background-color: transparent;">Customer expectations rise</strong></h2><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">The benefits and experiences of omnichannel retail have become a norm, and businesses should include them in their models to stay relevant. Personalization is also crucial as customers prefer a tailored experience, such as discounts based on recent browsing, which makes them feel valued and not anonymous.</span></p><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">Up to 76% of customers would stop buying from a company after just one bad experience. Omnichannel retail is essential to keep customers engaged. Businesses that integrate three or more channels see a 494% higher order rate than those using a single channel campaign. </span><strong class="ql-color-#000000" style="background-color: transparent;">When businesses provide a seamless experience, clients respond with better buy rates.</strong></p><p><br></p><p><br></p><h2><strong class="ql-color-#000000" style="background-color: transparent;">No data, no growth</strong></h2><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">In an omnichannel strategy, data is a crucial element that serves as the foundation. By monitoring customer touchpoints and tracking returning customers, data provides valuable insights into their interests and motivations. </span><strong class="ql-color-#000000" style="background-color: transparent;">The more data you have, the easier it is to create personalized experiences, drive additional sales, and measure the lifetime value of a customer.</strong></p><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">Data also plays a critical role in attribution modeling, which is essential for omnichannel strategies. However, it can be challenging to track the impact of various channels on customers' purchasing decisions. Customer data helps in understanding their motivations and the influence of each channel.</span></p><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">It's worth noting that the impending loss of cookies is shifting the focus towards consent-based information. Building trust with customers and encouraging them to volunteer information is one of the best ways to collect data. By obtaining firsthand information about what customers want and value about your business, you can make informed decisions about your omnichannel strategy.</span></p><p><br></p><p><br></p><h2><strong class="ql-color-#000000" style="background-color: transparent;">Social selling is here to stay</strong></h2><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">Social media presence is crucial for online retailers because it enables customers to interact with your brand, gain knowledge about your products, and become part of a community with other shoppers. Social media is also becoming increasingly popular thanks to shopping platforms that include in-app purchases. Statista predicts that </span><strong class="ql-color-#000000" style="background-color: transparent;">by the end of 2023, sales generated through social media apps will amount to $1.3 trillion worldwide.</strong></p><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">To establish a social media presence, it's important to create campaigns that resonate with your target audience and can speak to authentic and diverse online personas. Influencer collaborations and harnessing user-generated content are some powerful ways to connect with your followers and encourage interaction.</span></p><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">Videos are a very effective tool for e-commerce companies, since they’re perceived as the most reliable representation of a product in action. They can boost consumer confidence when making a purchase or considering a brand or product. The fact that social media content is increasingly focusing on the video format is a huge opportunity for businesses everywhere.&nbsp;</span></p><p><br></p><p><br></p><h2><strong class="ql-color-#000000" style="background-color: transparent;">Brick-and-mortar stores are not dead</strong></h2><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">Online shopping has become a major part of the retail industry, but this doesn't mean that brick-and-mortar stores or pick-up points are set for extinction. The Annual Retail Trade Survey shows that online sales increased by $244.2 billion in 2020 in the US. However, the ecosystem is complex and many factors play into the purchasing process: </span><strong class="ql-color-#000000" style="background-color: transparent;">it is not unadvisable to include a physical spot where clients could go,</strong><span class="ql-color-#000000" style="background-color: transparent;"> either for shopping or for picking up purchases</span><strong class="ql-color-#000000" style="background-color: transparent;">.</strong></p><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">Even when shopping online, shoppers support local businesses (according to an Inuit study). </span><strong class="ql-color-#000000" style="background-color: transparent;">Stores and other in-person shopping experiences allow brands to harness the power of community support and emotional attachment to physical places.</strong><span class="ql-color-#000000" style="background-color: transparent;"> Storytelling is always more powerful when you can make reference to actual places and moments.&nbsp;</span></p><p><br></p><p><br></p><h2><strong class="ql-color-#000000" style="background-color: transparent;">Always keep your eyes on the supply chain</strong></h2><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">To ensure a positive customer experience, it's crucial to keep your inventory well stocked and easily accessible, whether in-store or online. Whenever you don’t have something in stock, you are giving the competition a new customer. </span><strong class="ql-color-#000000" style="background-color: transparent;">It's important to pay attention to supply chain issues that affect your business, maintain adequate inventory, and monitor sales data to make informed decisions on restocking. </strong><span class="ql-color-#000000" style="background-color: transparent;">There are a few ways to manage inventory issues:</span></p><p><br></p><ul><li><span style="background-color: transparent;">Transparency is essential: features like out-of-stock notifications and product alerts can keep customers informed.&nbsp;</span></li></ul><p><br></p><ul><li><span style="background-color: transparent;">Communication is vital: be sure to let buyers know about any delays or obstacles you encounter.&nbsp;</span></li></ul><p><br></p><ul><li><span style="background-color: transparent;">Be responsive to customer questions and concerns and offer creative solutions like suggesting alternative products.</span></li></ul><p><br></p><p><br></p><h2><strong class="ql-color-#000000" style="background-color: transparent;">Virtual shopping is no longer a fantasy</strong></h2><p><br></p><p><strong class="ql-color-#000000" style="background-color: transparent;">Virtual shopping is an innovative approach that merges the in-store experience with the advantages of online shopping.</strong><span class="ql-color-#000000" style="background-color: transparent;"> It enables people to browse products from the comfort of their homes while also accessing expert advice and recommendations. For instance, virtual shopping enables customers to "try on" items by superimposing an image on a live video of themselves.</span></p><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">By leveraging these tools, businesses can blur the lines between in-store and online shopping, which enhances customer engagement. </span><strong class="ql-color-#000000" style="background-color: transparent;">This approach doesn't constrain customers to choose between the convenience of online shopping and the benefits of in-person shopping. </strong><span class="ql-color-#000000" style="background-color: transparent;">They can explore the look and feel of products from the comfort of their homes before making a purchase.</span></p><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">Moreover, Augmented Reality (AR) capabilities offer additional benefits in some cases. Furniture and home decor brands are progressively using AR in their apps and mobile sites to enable shoppers to "place" items in their homes. This functionality surpasses in-person shopping since it allows customers to visualize how a particular item would look in their own living room.</span></p><p><br></p><p><br></p><h2><strong class="ql-color-#000000" style="background-color: transparent;">What does the future hold?</strong></h2><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">Whatever massive global events occur, we can guess that omnichannel experiences will become increasingly relevant and probably the only way to proceed for businesses in the near future. Customers want to feel cared for, special and unique. This level of personalization can only be achieved through devotion to data and a willingness to adapt to ever-changing trends and global contexts.</span></p><p><br></p><p><span class="ql-color-#000000" style="background-color: transparent;">If you want an expert hand to help you meet this moment, hit us up! We’ve been creating e-commerce digital strategies for more than 20 years.</span></p><p><br></p><p><br></p>