Omnichannel – what consumers demand in 2024?  

In today's rapidly changing retail landscape, omnichannel has become a central strategy for many brands. Omnichannel is about integrating different customer touchpoints – including physical stores, e-commerce platforms, and social media channels – into a seamless experience where the individual customer is at the center.  

The growth of omnichannel 

A key driver behind the rise of omnichannel is the increasingly complex behaviour of consumers. Today's consumers use an average of six different touchpoints before making a purchase. You browse products on a website (sometimes just for fun), check out items in stores, read reviews on social media or live-shop. Many people (a study by Sitoo showed up to 74% of customers) who pick up or return e-commerce goods in stores buy something else at the same time.  

The importance of omnichannel is further underscored by the fact that 80% of customers (according to Impact Commerce) use their mobiles in-store to compare prices or search for more product information. This highlights the need for physical stores and digital channels to complement each other and offer a cohesive experience across multiple touchpoints. 

Higher lifetime value and larger shopping baskets 

For retailers, an omnichannel strategy can significantly increase sales and customer loyalty. Figures from Adyen show that customers who engage with brands both in physical stores and online spend 30% more per transaction. Additionally, omnichannel customers tend to have a higher lifetime value (30% according to IDC) compared to customers who only use one channel. Their engagement across multiple platforms increases loyalty.  

Social commerce and its role  

Social commerce, where customers discover and purchase products through social media platforms, is another important part of omnichannel strategy. Platforms such as Instagram and TikTok have become crucial to how a brand is perceived and can make (especially younger) consumers discover alternative and new products. The rise of social commerce has forced many brands to create consistent communication that spans both traditional stores and digital platforms. 

Additionally, through social media, brands can offer a more personalized and interactive shopping experience through the use of polls, user-generated content, and "live shopping" features to engage consumers in real-time.  

Challenges of implementing omnichannel  

Omnichannel - as we have seen – is a potentially profitable strategy, but there are definite challenges. Fragmented customer data, inventory management, multiple parallel payment systems, and unified customer support across all channels can be hurdles. Costly technical adaptations and staffing challenges often prevent companies from fully adopting an omnichannel strategy. 

One of the most crucial factors in overcoming these challenges is data integration. Omnichannel players need to ensure that their customer data, supply chain, payment system (online and point-of-sale), and customer service systems are seamlessly integrated across all channels. Without this integration, retailers risk creating a fragmented experience that can frustrate customers.  

Omnichannel examples from our customers 

Several of our customers successfully apply omnichannel thinking. Finnish Dermosil has recently supplemented its successful e-commerce of skincare products with a physical presence in the form of "Dermosil Live", where customers can test products, shop and book salon treatments. Dermosil also has its own app that enables real-time interaction, including group purchases, which creates a bridge between social commerce and traditional retail.  

Swedish Houdini Sportswear has sustainability and environmental responsibility as core brand values and has managed to integrate its e-commerce and physical store sales in a great way. An information-packed multi-market e-commerce store that highlights the brand's philosophy, choice of materials and activity guides complements Houdini's flagship stores where you can experience the full range of products, attend events and get personal advice. 

 
In conclusion, omnichannel is becoming increasingly important for brands that want to remain competitive. As customer journeys become increasingly complex and unpredictable, brands who want to build loyalty and maximize sales must focus on delivering a seamless and integrated experience across all touchpoints – digital and physical.