Debunking Myths About Omnichannel Retailing – 4 Misconceptions Explained

Incepted in the early 2000s, omnichannel retailing is no longer a fantasy. Several brands have created an environment where offline, online, and m-commerce work together to create the most seamless shopping experience for their customers.

An omnichannel approach to retailing is a win-win situation for both brands and consumers. About 89% of consumers expressed that brands should work harder to create a more cohesive customer experience.
Brands who have implemented it successfully are reporting a hike of 9.5% in annual revenue with omnichannel benefits like fulfillment from store etc.

Despite the effectiveness of this method, many retailers and brands are hesitant to adopt omnichannel retailing because of the misconceptions surrounding it.

Let’s take a look at the biggest myths clouding people’s perceptions: 

#Myth 1: Omnichannel and multichannel are the same thing

Although they might sound the same, the difference between these two approaches is night and day.

While a multichannel approach necessitates a team and a system working in silos, customer experience is not included. The omnichannel approach, on the other hand, integrates all communication contact points to create a seamless experience.

It is the more engaging, personalized experience that centralized customer data adds to omnichannel retailing that makes all the difference. With this approach, brands get to offer both better customer service and faster issue resolution. 

The bottom line is, consumers expect the best customer support even when juggling between sales channels. In omnichannel retailing the communication between them works in silos, equipping the customer support to provide them with the best service. 

#Myth 2: Managing Omnichannel is tedious

The benefit of implementing omnichannel retailing is that it is not necessary to execute all features of omnichannel retailing all at once.

You can begin by analyzing what is working for you and gradually adding new channels. It’s not required to change the infrastructure of your physical store or invest in some hefty technology to start with omnichannel retailing. Since it is completely based on retail technology, you can integrate procedures as you need. As a result, there is no need to restructure your entire process to go to omnichannel retailing. 

#Myth 3: Omnichannel platforms don’t work

As already established, companies that do not utilize omnichannel platforms are losing out on its benefits. With an omnichannel approach, customers get to curate their own experience – whether offline or offline. 

Customers can browse online and walk into physical stores, or they can order the same product online after trying it on in the store – the possibilities are endless. This unified experience ensures that sales are not lost while navigating various platforms.

Furthermore, many omnichannel adopters find that making the switch has helped them improve store inventory accuracy to the point where they have been able to launch additional initiatives that rely on it, such as reserve online and collect in-store.

Myth 4: Omnichannel retailing is an expensive affair

Any business must invest in the appropriate tools and technology to grow. While retail technology may appear to be an investment at first, the return on investment is justified.

Omnichannel retailing has been shown to increase order frequency, store traffic, customer retention, and brand identification. In fact, it is reported that the opportunity cost of not being omnichannel is 10% in terms of lost revenue.

As a result, even though the transition to omnichannel retailing requires an initial investment, it increases sales multifold, making it a sound business investment.

Concluding: What Does the Future Look Like With Omnichannel Retailing 

The day when omnichannel retailing becomes a standard retail practice is not very far. Businesses that transition to omnichannel practices early will greatly benefit from the new opportunities created by it. Only 11% of businesses have claimed to successfully implement omnichannel retailing, and others who join the rank will surely reap the benefits.

The core idea of omnichannel expansion is simple; it enables the brand and retailers to become visible across all sales channels their customers are using. Being omnipresent everywhere the shopper goes gives them a competitive advantage.  

In a digital-first world, going the extra mile to keep up with customer demands and trends will help you in keeping ahead of the competition. With the truths behind the myths revealed brands and retailers should use omnichannel retailing to make their business future-ready. 

If you want to enquire more about what retail tech solutions can help you adopt omnichannel retailing, contact us today!


How does Increff WMS simplify your complex warehousing needs?

Data from the U.S. Bureau of Labor Statistics suggests that the employee turnover rate in the warehousing sector has been as high as 49% annually. Due to this very high attrition rate, businesses often face severe fulfillment delays, low efficiency, and increasing costs.

So, why does this happen? Entry-level warehouse jobs are still considered to be manual, repetitive, and devoid of growth. To retain employees and reduce dependency on skilled labor, organizations must implement new technologies that keep their workers engaged.

However, it is not as easy as it sounds. With such a high attrition rate, employers cannot spend too much time on training. So, they need an effective, easy-to-use solution that gives them a good ROI. Here’s where Increff Warehouse Management System comes in.  

In this blog, we will showcase the top 5 reasons why Increff WMS is the ideal solution for managing your warehouse operations.

1) Quick deployment and easy maintenance

While legacy systems can take anywhere from 4 to 6 months to deploy, Increff WMS can be up in just 1 week. It can also integrate with your existing ERP system alongside any other e-commerce platform or logistics management system you are using. This allows for a seamless experience and easy management of all your functions from a single touchpoint.

Unlike traditional on-premise solutions, which require regular hardware maintenance and updates, Increff WMS is a cloud-hosted hardware agnostic solution requiring no additional upkeep. It can run on a smartphone and also has Chrome accessibility. The system will be auto-updated whenever a new feature, bug fix, or upgrade is released.

2) Effortless learning and operations

The most critical thing for a warehouse management solution is ease of use. At the end of 2022, there were almost 500,000 open warehouse jobs. It shows businesses are unable to retain employees, and the turnover rate is very high. So, companies cannot spend a ton of time and resources on training new employees.

Increff realizes this, and its Warehouse Management Solution is designed to have a very shallow learning curve. With our simple and intuitive user interface, your employees can be trained on Increff WMS’s individual activities in just 5 minutes, unlocking high productivity from day one. 

It also simplifies the entire operations process with a single channel for B2B and B2C order processing and easy error tracking. The system is manually operated and has automation capabilities using the available data and operating via conveyor belts. Even though the system is manually operated, it has a 100% foolproof mechanism where the user cannot proceed to the next step if an error is detected.

3) Unbelievable accuracy

Increff WMS ensures the highest level of inventory accuracy with a promise-to-ship agreement that guarantees 99.99% accuracy at the bin level. This means you can trust that your inventory is always up-to-date and you never oversell or undersell your products.  It also offers an extremely swift inventory-order sync time of 10-15 seconds to ensure you never take extra orders without having the units to fulfill them.

The solution also upgrades your inventory management by enabling serialization that prevents duplicate scanning of items and achieves 100% first-time-right operation. As for when products are to be collected for shipment, it optimizes the path around the warehouse for more picks with lesser distance traveled, saving a lot of time and effort.

4) Simplified decision-making

It is important for businesses to be able to analyze different KPIs associated with inventory, order management, and putaway to get an overall picture of the warehouse performance. 

With 80+ actionable reports from Increff WMS, businesses get access to important insights that allow for data-backed decision-making rather than simply following one’s gut or using traditional methods like spreadsheets. Our reports cater to different stakeholders, including warehouse managers, operations, finance, category, and supply chain teams, allowing for simplified decision-making at all levels of your organization. 

5) Scalability 

For any business, scalability is a very important factor when considering a new solution. You wouldn’t want to change your systems frequently while experiencing high growth, which could slow down processes and increase traction. 

So, even if you are a small company projecting a very high growth rate but with a low order volume currently, Increff WMS can meet your requirements. While for enterprises, it can scale as required and even process up to 100k+ dispatches per day per the warehouse. The solution also maximizes your warehouse space utilization saving storage and labor costs.

Apart from being simple and efficient, Increff WMS is also the best in the market, with 200+ brands believing in what we have to offer. Gartner has also recognized Increff as a notable vendor in its report “Asia/Pacific Context: Magic Quadrant for Warehouse Management Systems” for 3 consecutive years now.

Schedule a quick demo to learn more about our solution and explore how we can help your business.