Omnichannel Retail: Intro to Omnichannel 1/5 | Innovation eLearning

Описание: In this module, Trend Hunter's Director of Client Success, Ady Floyd, takes an in-depth look at what omnichannel retail truly is and what trends are shaping the way consumers shop. In order to understand the future of retail, forget what you think you know about siloed, multi-channel approaches, and accept that omnichannel – the creation of seamlessly interchangeable platforms across all entities – is the foundation for successful retailers. To uncover the best business models and tactics that resonate with consumers, Ady uses 4 of Trend Hunter's 18 Megatrends to provide invaluable research that will help brands create the future of retail.

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When it comes to retail, there are a few things that we know for sure. For example, in 2018, over 5000 retailers shut down their brick and mortar stores. But retail is about a lot more than just one singular platform like brick and mortar. And when it comes to terms like the retail apocalypse, well, those have been tossed around a little too lightly when you consider the emergence of e-commerce. There's been a lot of tension between the online and offline worlds of shopping. Now at Trend Hunter, we have been tracking retail trends since the emergence of our platforms Trend Hunter.com. And since the beginning, we have tracked a lot of this tension.
For example, in 2009, we were looking at insights like Back to Brick, where retailers were pushing consumers off of e-commerce platforms and trying to get them back into physical stores. Now, two years later, we were seeing insights like Digital Gifting, which takes a look at how retailers were trying to get their consumers back onto e-commerce platforms. However, fast forward to today, we're looking at insights like E-Commerce Amalgamation, which is taking a more omnichannel approach and combining the online and offline worlds of shopping, which means that brick and mortar remains fundamental, but e-commerce is now crucial.

So if we think about the way that retail used to look in the past, first, you needed to have a product in order to sell that product. You had to have a physical retail space, which would allow you to then obtain your consumers. But of course, we know this way of thinking is far too outdated when you consider the emergence of e-commerce competing with brick and mortar. You're left with more of siloed entities or a multi-channel effect, but this way of thinking still won't work.

Instead, we need to think about retail through the lens of omnichannel. The creation of seamlessly interchangeable platforms across all entities and its working brand to use an omni channel strategy are retaining close to 90% of their customers, and already close to 75% of shoppers are using multiple platforms on their path to purchase.

But what exactly are the avenues of omnichannel? Well, I'm going to be diving into four of our megatrends that correlate to four different modules that I'll be taking you through today. We'll be looking at Hybridization, Personalizatio, Experience and Artificial Intelligence.

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