Multichannel eCommerceRespondents to a survey conducted by SAP(1) reported that a multichannel strategy increased sales in 74% of cases, improved customer loyalty and acquisition efforts in 64%, and gave 62% of survey respondents a competitive advantage.
Not only does multichannel retailing increase customer acquisition by reaching a broader, more diverse audience, but multichannel shoppers are also more active, making more purchases and spending more per basket than single-channel shoppers.
A study of 46,000 shoppers conducted by the Harvard Business Review(2) found that multichannel shoppers spent more in-store and online than single-channel shoppers and that this number increased for every channel that the shopper engaged. And for every channel added, seller revenue increases. Adding a single digital marketplace(3) in addition to the owned website can increase seller revenue by 38%; and with another added site that number jumps by 120%.
To grow sales through multichannel retailing, a seller should:
Create a customer journey profile.
Check out the competition.
Integrate inventory and operations.
Finding a solution that automates multichannel retailing efforts allows a company to sell on multiple marketplaces just as easily as one. A central dashboard that automatically updates inventory to all channels not only saves time and effort, it reduces the cost of each sale, prevents overselling of products, and maximizes customer satisfaction, providing a retailer with a competitive advantage over other sellers.
ChannelGrabber is the leading omnichannel retailing solution, allowing sellers to optimize product listings across multiple digital marketplaces, with one-click listing and automated inventory updates providing accurate information to sellers and shoppers.
To learn more about growing your sales pipeline through multichannel retailing, request a demo with a ChannelGrabber expert here.
1 - https://news.sap.com/2014/12/sap-survey-finds-new-opportunities-omnichannel-consumer-products-companies/
2 - https://hbr.org/2017/01/a-study-of-46000-shoppers-shows-that-omnichannel-retailing-works
3 - https://www.stitchlabs.com/blog/stitch-data-report-why-multichannel-selling-is-a-win-for-retailers/?utm_source=wiser.com&utm_medium=guestblog&utm_campaign=scalability-guide
4 - https://www.shopify.com/enterprise/mary-meeker-report-ecommerce#meeker-mobile