In today’s competitive retail landscape, understanding consumer behavior has never been more critical. The 2024 Omnichannel Commerce Report provides a roadmap for retailers to engage modern shoppers across multiple platforms effectively. With fresh data and actionable insights, this report is essential for e-commerce managers, multichannel retailers, and marketing strategists aiming to stay ahead of the curve.
The Report
The 2024 Omnichannel Commerce Report combines insights from surveys, transactional data, and emerging market trends to paint a clear picture of where and how shoppers prefer to engage. The findings shed light on the growing importance of omnichannel strategies in meeting consumer expectations and fostering loyalty.
Key takeaway: Companies with strong omnichannel engagement strategies retain 89% of their customers compared to just 33% for those with weaker strategies.
Multichannel vs. Pure-Play Retail Preferences
One of the report’s standout revelations is the increasing preference for multichannel retail experiences. 45% of shoppers now favor multichannel retailers, compared to a mere 6% who choose online-only stores.
Why multichannel is winning:
- Convenience of in-store returns: Shoppers appreciate the flexibility of returning items in person.
- Click and Collect: This option offers a cost-effective, speedy alternative to home delivery.
- Sensory engagement: Physical stores allow customers to see, touch, and try products before purchase.
For pure-play retailers, focusing on niche categories and seamless digital experiences remains key. However, multichannel retailers benefit from blending physical and digital touchpoints to create a cohesive customer journey.
Top Purchase Categories by Channel
The report reveals distinct trends in what consumers buy depending on the retail channel:
- Pure-play retailers:
- Electronics: 34%
- Beauty: 30%
- Fashion: 29%
- Multichannel retailers:
- Fashion: 58%
- Electronics: 48%
- Food: 40%
Actionable insight: Retailers should tailor their inventory and marketing strategies to highlight these preferences, leveraging data to optimize category performance.
Emerging Shopper Expectations
Consumer expectations continue to evolve, with the following demands gaining traction:
- Online visibility of in-store stock: 79% of shoppers want to check in-store availability online.
- Click and Collect: A cost-effective and convenient option, with a preference for next-day or under-3-hour collection times.
- Smartphone usage: 72% of shoppers use smartphones to compare prices or read reviews while in-store.
Meeting these expectations requires robust inventory systems and efficient logistics to offer accurate, real-time updates and fast fulfillment options.
Social Media’s Role in Shopping Decisions
Social media continues to influence shopping behavior, with Meta’s platforms dominating:
- Facebook: 79%
- Instagram: 60%
Additionally, 49% of shoppers cite sponsored content as the most persuasive form of social media advertisement.
Pro tip: Retailers should invest in highly targeted social media campaigns, focusing on personalized ads and engaging content to capture attention and drive conversions.
Actionable Strategies for Retailers
- Leverage Click and Collect:
- Highlight cost savings and speed as key benefits.
- Optimize the pickup experience to ensure convenience.
- Personalize Online Experiences:
- Use customer data to create tailored recommendations and promotions.
- Implement dynamic pricing to stay competitive.
- Utilize Social Media Effectively:
- Focus on platforms where your audience engages most.
- Use sponsored posts to showcase products and drive traffic to your site.
The 2024 Omnichannel Commerce Report underscores the importance of meeting shoppers where they are—both online and offline. By leveraging insights on multichannel preferences, category trends, and social media’s impact, retailers can craft strategies that resonate with today’s consumers.
To stay ahead, prioritize feedback initiatives, and continually adapt to evolving expectations. With omnichannel engagement, the path to increased customer loyalty and sales is clearer than ever.
For more insights or help implementing these strategies, contact our team of e-commerce experts today.
Sources
Omnichannel Statistics For Retailers And Marketers (2024) | UniformMarket
https://www.uniformmarket.com/statistics/omnichannel-shopping-statistics
- 73% of retail shoppers now interact with multiple channels before making a purchase.
- In 2024, 83% of shoppers research online before visiting a physical store.
- 72% of shoppers use their smartphones to compare prices or read reviews while in-store.
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