NewStore releases the 2022 Omnichannel Leadership Report, an assessment of 250 luxury, premium, and lifestyle brands’ omnichannel competence
NewStore, a turnkey omnichannel store solution, launched the 2022 Omnichannel Leadership Report. The annual research initiative looks at the omnichannel competence of 250 luxury, premium, and lifestyle brands. This year, NewStore assessed the state of the retail industry post-pandemic, finding that the spike in omnichannel innovation of 2021 has since stalled.
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Conducted via mystery shopping, NewStore audited each brand’s website, mobile application, call center, and in-store experience. Every retailer was then assigned an overall rank and score as well as scores across the four research categories: Digital Engagement, Omnichannel Convenience, Customer Experience, and Associate Enablement. The capabilities reviewed epitomize omnichannel retail, from both the customer and store associate experience. NewStore also factored in the top results of its recent Ideal Associate Profile Survey, which identifies the associate capabilities valued most by consumers, to further validate each brand’s ranking and the overall findings.
Out of necessity, the pandemic accelerated the timelines for many digital transformation initiatives and omnichannel projects. While some brands’ tech investments have slowed from the height of the pandemic to now, others have used this challenging time period to double down on omnichannel and prioritize a complete business transformation. The following retail brands are at the forefront of omnichannel. They have successfully unified their digital and physical channels while making shopping simple and seamless.
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2022 Omni Leaders:
- Nordstrom
- DSW
- Louis Vuitton
- Bergdorf Goodman
- Fabletics
A lot of the innovation seen amid the pandemic consisted of quick-fix solutions designed to satisfy a specific need, such as safe store pickup or contactless payments. These worked in the short-term, but as stores re-opened these fragmented solutions broke down. Deploying these services in a silo meant they couldn’t operate at scale across every brand channel. Today’s savvy and purposeful shopper wants to feel digitally empowered online, in-store, and on mobile. The brands that understood this, and went all-in on omnichannel, were able to set themselves apart in the last year while also positioning themselves for long-term success. Every brand must take this approach and become an omnichannel organization to win in the age of digital consumers.
“The 2022 Omnichannel Leadership Report found that many brands took the path of least resistance when it comes to embracing omnichannel. Unfortunately for them, short-term solutions will only lead to long-term problems,” said Stephan Schambach, Founder and CEO, NewStore. “On the other end of the spectrum, this year’s omnichannel leaders have shown they understand that the customer experience is not only the biggest competitive advantage but also today’s most important barometer of success. This is reflected in the technology investments they have made and continue to make. Going forward they will serve as the benchmark for the rest of the industry.”
Data Highlights:
- Digital Engagement
- 4% of brands offer self-checkout in their stores, up from 3% in 2021.
- 74% of brands offer contactless payment options, down from 83% in 2021.
- Omnichannel Convenience
- 53% of brands offer in-store pickup (BOPIS), up from 40% in 2021.
- 57% of brands offer endless aisle purchases, up from 47% in 2020.
- Customer Experience
- 73% of brands offer store to door shipping, up from 46% in 2021.
- 89% of brands have a cash wrap in store, remaining stable from 90% in 2020.
- Associate Enablement
- 48% of brands give associates mobile devices, down from 68% in 2020.
- 19% of brands offer mobile checkout, down from 33% in 2020.