Retailers ‘failing to master omnichannel’
Written by Chris Lemmon
Just eight per cent of US retailers believe that they have mastered an omnichannel approach, despite 87 per cent agreeing that omnichannel is critical or very important to their business success.
This is according to a new report from Brightpearl, which surveyed leaders at more than 350 US retailers. It found that over 90 per cent of respondents now have an omnichannel strategy in place or plan to invest in one soon.
Only 12 per cent of those surveyed believe that they have the necessary technology in place to support their omnichannel strategy, while 19 per cent labelled the move to omnichannel as a ‘struggle’ or a ‘pipedream’. Over half of retailers considered their omnichannel approach as ‘work in progress’ and 74 per cent are currently dissatisfied with their strategy execution.
Derek O’Carroll, CEO of Brightpearl, commented: “The ability to effectively operate across all possible retail channels is difficult. The retail industry is undergoing a metamorphosis unlike anything it has experienced in decades. Customers are demanding, competitors are relentless in their pursuit of customer acquisition, and operational challenges abound as retail extends beyond brick and mortar to include online sales driven by mobile commerce.
“Omnichannel execution needs significant improvement.” He concluded. “Retailers need to invest more time and resource into technology to effectively implement their omnichannel strategies or face being left behind.”