Omnichannel: More than just a buzzword?

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Richard Goodley, CEO of Davidson Richards, addresses the position of small and medium-sized retailers as the pressure for a move to omnichannel mounts.

For the retailer, 2012 was all about multichannel and mobile. But in 2013, retailers need to think less about multichannel and more on the concept of omnichannel, incorporating bricks and mortar, online, call centres, mobile, social media, tablets and even, in some cases, interactive TV.It’s no longer just about mobile shopping or visiting a store. Consumers are now using smartphones to look for deals en route to the store, while they’re in them and are sharing information on social networks whilst they're at it.Consumers are driving the retail agenda towards omnichannel with unwavering momentum. Accountants Deloitte predict the number of active phones with a touch screen or alphabet keyboard to reach 2 billion by the end of the year and the number of tablets in UK households are expected to nearly double from 5.87 to 10 million by August. We also know that consumers who engage across more than one channel are more loyal.It's the retailers who are reacting who are thriving. Analysts are attributing Next's recent 3.9% jump in sales to the fashion and homeware retailer's strength in the internet and omnichannel arena. The facts dictate that omnichannel is the way forward and small and medium-sized retailers know that this will be critical to success in 2013. How this can be achieved on a smaller budget, however, is a matter of concern.

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