Omniexperience is Driving Change in Retail
Retail is changing at a rapid rate, and to no surprise, much of that change is being driven by new technologies and digital innovations that put consumers in the drivers seat and bring the idea of omnichannel to new heights. Omniexperience is the first trend highlighted in this year’s version of Retail Innovations. Consumers can now shop anywhere, at any time, and in any way. The retail universe is so connected, and it has significantly influenced our shopping behaviors and the way retailers are behaving to adapt to this change.
To win at retail in today’s environment, the digital and physical experiences must be intertwined. Retailers must create smooth, integrated and seamless experiences that consistently deliver across platforms. Customers no longer distinguish between digital and physical, so why should you?
An Omniexperience melds online and physical universes for the convenience of the customer. Click & collect is the classic example, where customers can order online and pick up in-store at the preferred location and time, as well as order online and return or exchange products in-store. It can also mean interacting digitally in-store, e.g., via augmented-reality assistants that lead you to the product, ordering out-of-stock items for home delivery, seeing customer reviews in-store, etc. In the case of one of our retailers included in the book, Brandless, omniexperience is relevant in how this digitally native company entered into bricks and mortar to elevate the experience.
Brandless launched in 2017 as an online store selling everything from organic and specialty goods to dish soap and other cleaning supplies. They’ve cut out the middle-man bringing added value to the consumer by selling quality merchandise without a so-called “brand tax” and removes all the hidden markups that come from many national brands. In efforts to reach consumers in new ways and develop an experience, Brandless experimented with their pop-up store, an opportunity for them to educate customers on why their products were different, bring a hands-on experience to the forefront, and a chance to emphasize their value and values, while making the point the products are not a ‘generic’. The range was impressive and Brandless has broadened its reach into beauty products, at a $3 price point.
To read more on Brandless, and other omniexperience cases, download a copy of our book here.