Multi-channel retailers have been around for years, but most of them agree that there is a major weakness in their customer support when it comes to accessibility of data between departments. To overcome this, many retailers have decided to take an omni-channel approach that eliminates fragmented data storage, aka data silos.
Here’s the top 3 reasons why you should take an omni channel approach to managing your data:
The whole point of bringing the omni-channel retail experience to your customers is ultimately to provide them with more convenient options to spend money with you. In the past, even the largest of retailers had separate internal tools handling their in store sales and their online sales, and the customer information was not shared between the two. By using an omni-channel retail management solution, you create a link between two customer profiles so that any customer service agent can bring up a more complete customer registry that includes both their on site and online purchase. This is necessary for handling returns, exchanges and other transactions when customers have purchased products through one channel but need to make changes through a different channel. Also, retailers are learning to provide different purchase options across channels and across device types offers extra convenience to customers.
Informed Decision Making
By sharing information across channels instead of keeping it isolated by departments, all areas of the business have access to more accurate real-time data. Retail management solutions like Microsoft Dynamics AX allow retail management teams to oversee sales numbers and analyze them for a deeper understanding of what is really going on within the company. This increased visibility enables more informed decision making across the organization.
Improved Inventory Control
With an omni-channel retail approach, companies are able to consolidate warehousing and distribution operations while maintaining more accurate inventory control. There are significant cost savings associated with combining these efforts, and profits tend to rise as customers are able to find products faster and easier. Customers appreciate knowing whether or not an item is available in store, at another nearby store, or if the item needs to be ordered online.
By having better inventory control, you can provide more accurate views of inventory down to the size and color, along with being able to feature items that are closest to them. General product descriptions are now a staple of the past.
Using a solution like Microsoft Dynamics AX, customers can experience an increased sense of personalization and a higher quality of customer service.