Retailers aware of shortcomings in omnichannel experience - report

May 2016
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Only 21% retailers feel more confident than a year ago on delivering omnichannel experiences, while 45% believe progress is not happening fast enough, according to a recent survey.

The survey, conducted by Periscope, a McKinsey Solution focusing on price, promotion, and assortment optimisation, also found that 78% admit the lack of a one-brand experience across their channels, whilst also acknowledging that “a well-defined cross or multi-channel strategy” was the top innovation that would drive digital growth (64%).

When asked about the reasons behind the omnichannel struggle, 39% stated that their digital channel alone was suffering from “a lack of internal coordination”. However, looking at the broader omnichannel strategy, when asked about their top three challenges, 67% mentioned the lack of customer analytics across channels, while 48% of respondents cited silo`d organization Other reasons include poor data quality (45%) and the inability to identity customers across shopping trips (45%).

Only 6% of respondents described their omnichannel readiness as “Excellent – fully implemented”, and 36% described themselves as “Testing a proof of concept”.