Retailers: Are you leading or lagging on omnichannel?
Rating retailers’ omnichannel efforts
Changing consumer behaviours are forcing retailers to rethink how they do business. They're investing in omnichannel and redesigning organizational structures and business practices for a customer-centric world. They're making progress—but how much? And how do they stack up?
The Deloitte Omnichannel Customer Experience Index 2016 looks at omnichannel offerings of leading retailers in all major categories across Canada and the US. The Index can help companies understand how to tailor their omnichannel investments and zero in on opportunities to differentiate themselves in an incredibly competitive industry.
Ranking omnichannel by retail category
|Top Tier||1. Department stores
2. Mass merchandise/warehouse
3. Home improvement
5. Sporting goods
2. Department stores
3. Mass merchandise/warehouse
|Middle tier||6. Children and toys
8. Standard apparel
9. Furniture, décor, home and office
10. Luxury apparel
|6. Children and toys
7. Furniture, décor, home and office
9. Shoes and accessories
10. Standard apparel
|Lower tier||11. Electronics and technology
|11. Electronics and technology
12. Luxury apparel
Home improvement leads the way
Home improvement retailers emerged as the clear omnichannel leaders in both the US and Canada, seamlessly integrating digital and physical channels to deliver a genuine omnichannel capability all along the path to purchase.
- These companies are especially strong in pre-purchase and post-purchase, both of which are key to DIY customers. Many retailers struggle to understand customers’ needs in these phases.
- Convenient “last mile” options allow customers to choose how to bring purchases home.
- Mobile apps allow them to redeem online and mobile promotions and coupons in-store.
- Seamless account management allows customers to use the same profiles, wish lists and shopping carts across platforms.
Omnichannel opportunities are ready to be seized
Canadian retailers that lag behind in omnichannel run a real risk of being disrupted by their competitors. But there are many opportunities for retailers to differentiate themselves with shrewd investment and fast action. Here’s where to start:
- Leverage analytics to form key customer insights, identify growth opportunities and identify the right investments.
- Review competitors’ omnichannel offerings all along the path to purchase to uncover strengths and weaknesses and determine your path forward.
- Create urgency around the need to invest in innovation. Your customers want fresh experiences—don’t let competitors deliver them first.
- Partner with world-class analytics who can bring you the insights and best practices that will help you make the right decisions.