Founded in 2014, Ace Turtle is India’s market leader in omnichannel technology for enterprise brands. It is at the forefront of new age commerce, bringing efficiency and scalability through the digital transformation of traditional brands and retailers.
The pandemic has had a profound impact on the way customers shop, forcing brands and retailers to adopt an omnichannel approach and elevate the checkout process. Due to frequent closures with physical stores closed or operating at reduced capacity, brands and retailers had to make some quick business decisions to meet the needs of their customers. The need of the hour was seamless integration between online and offline channels that would allow for a better shopping experience.
With the worst of the pandemic now behind us, the demand for omnichannel has increased. The rise of e-commerce, changing customer behavior, and intense retail competition have made omnichannel retail increasingly relevant. According to BC Perspectivesa renowned analyst firm, there has been a significant increase in the mention of ‘omnichannel’ in the context of ‘retail’ during earnings calls by executives.
Top omnichannel trends amongSt. brands and retailers
- Drive customer loyalty across multiple touchpoints
When retailers and brands use omnichannel customer care solutions, they meet the person where they are and provide support across all channels, including social media. Providing multiple opportunities for customers to interact with brands enables more convenient solutions in ways customers like to connect, leading to a positive customer experience and improved loyalty. Omnichannel technology is a win-win initiative for both customers and retailers, as customers can enjoy increased customer service and a variety of delivery options, and retailers can maintain sales and margins through of effective delivery strategies. Customers buy brands and not channels. In essence, channels are just a medium that depends on the need of customers to buy a product.
- On-demand scaling to meet changing buying habits
Omnichannel technology helps handle unforeseen spikes in demand with better inventory management and order routing through order management systems (OMS). Help retailers stay flexible by turning fulfillment locations on and off to push products that effectively meet customer expectations. This was critical to all retailers during the pandemic when customer buying habits had changed and retailers were seeing more shoppers shopping online and ordering products in bulk in anticipation of delivery delays. Multi-tenant fulfillment centers can also help retailers scale e-commerce operations at a faster rate than they could on their own. Therefore, retailers with omnichannel support will be able to handle sudden changes in e-commerce orders and continue to execute operations effectively even in turbulent times.
- Multiple demand channels integrated with the retail store
In the traditional retail model, brands’ walk-ins only had visibility into the retail store’s inventory. The store’s sales depended entirely on the passing of customers alone. Omnichannel retailing enables ordering from anywhere and shipping from anywhere. Customers can order from any of the demand channels, such as the brand’s online store, online marketplaces, conversational commerce, social commerce, and endless aisle. Orders can be fulfilled from stores or warehouses.
Endless Aisle is an in-store application that allows customers to search and purchase inventory that is not available in the retail store. Endless aisle benefits include reduced lost sales due to product unavailability and size, increased up-selling and cross-selling, and better brand engagement by virtue of superior in-store multi-channel service.
The retail store is not only a physical point of contact for customers, but can also become an omnichannel fulfillment center for online marketplace orders. Omnichannel technology platforms help brands and retailers reduce lead time and optimize in-store inventory through ship-from-store. It is an efficient way to use inventory by preventing stores from carrying unprofitable inventory and increasing stock turns.
- Maintain sales by managing retail stores as fulfillment centers
There has been a huge increase in orders placed online and picked up in stores. When retailers invest in omnichannel strategies like buy online and pick up in store (BOPIS), they ensure a safe transaction during the pandemic and provide products to shoppers instantly. This leads to a positive customer experience and increased customer loyalty that will last much longer. Store pickup initiatives run more smoothly when retailers design their storefronts to function as mini-distribution centers as much as possible. This helps better manage inventory and saves fulfillment and supply chain costs during this time of uncertainty.
While there has been increased awareness of omnichannel adoption in retail globally, on-the-ground adoption in India remains lower than expected. India is a huge market where customers are spread across the length and breadth of the country. The largest cities have enough customers to support store openings. But there are plenty of smaller cities with small pockets of customers that aren’t big enough to sustain store openings. However, you can always contact online. In fact, many of these towns are closer to larger cities and, through omnichannel fulfillment, can be served from stores in these cities.
The omnichannel platform helps digitize, adapt, and integrate online and offline channel operations to overcome the challenges of the physical world and deliver a cohesive, end-to-end experience across different touchpoints that drive customer buying behavior. The implementation of innovative omnichannel technology has been a key factor in the journey of digital transformation in retail in recent years. The omnichannel platform provides a channel agnostic journey to customers. Contrary to what brands and retailers often think, customers do not care so much about the purchase channel. They mostly care about a wide selection, low prices, and a seamless shopping experience.
Transforming retail through omnichannel technology is about thinking beyond marginal improvements. Retailers will need to increase their digital sales as shoppers increasingly use online channels to meet their daily needs. They need to rethink every aspect of their business, from sourcing, inventory management, to employee engagement, training, and customer experience. Today, relevant decision makers have access to a wealth of data and analytics. Retailers must act today to ensure their business is future-proof, with the desired brand experience and customer loyalty intact.
Finding the right technology partner is critical to starting and completing your omnichannel retail transformation: a partner with strong technical understanding and industry insights who can help you transform your business from the inside out in a way that ensures both profitability and sustainability. . Ace Turtle, with its fully integrated omnichannel platform, has helped brands by integrating all of their sales channels to provide a single view of inventory and ordering, allowing brands to source orders from any channel (online and offline). line) and fulfill them from any inventory point. The platform helps brands improve their product availability and optimize their inventory efficiently across multiple demand channels (fulfilling from the same inventory pool), leading to a significant increase in direct sales and revenue. margins.