New Report Helps Retailers Benchmark Omnichannel Performance

In a recent survey, over 150 retailers were asked about their omnichannel knowledge and adoption. Find out why all kinds of companies are prioritizing omnichannel fulfillment, and what misconceptions or misunderstandings are blocking those efforts.

June 28, 2023: In a recent survey, Deposco and studioID asked more than 150 retail leaders from online/e-commerce, specialty, department, and grocery stores about their omnichannel efforts. This survey asked respondents about their omnichannel readiness, their current investments, and what to look for in omnichannel retail management software.

While omnichannel fulfillment may not be for every retailer, the survey results reveal that it’s a priority now — and will continue to demand retailers’ attention down the road.

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Five important survey findings about omnichannel fulfillment:

  • Most retailers indicate that omnichannel fulfillment is important to their organizations. Nearly 60 percent say it’s either “very” or “extremely” important. Only 13 percent say that omnichannel fulfillment isn’t important to their organizations.
  • Retailers are likely confused about what’s possible with omnichannel. For example, when asked about the status of their omnichannel fulfillment, 25 percent of respondents indicated complete satisfaction. This number suggests retailers may not fully understand what’s possible with omnichannel, or they may lack the tools to visualize it.
  • Retailers prioritizing omnichannel fulfillment are experiencing several benefits — but one stands out. Among the survey respondents currently investing in omnichannel fulfillment, 59 percent are achieving greater customer reach. Because their products are available and easy to purchase through whatever channel(s) their customers use, they naturally reach a wider group than retailers that offer products across only one or two platforms.
  • The top obstacles to deploying omnichannel fulfillment solutions. Over one-third (35 percent) of respondents named lack of time and resources as their biggest deployment challenge. Nearly one-quarter (23 percent) of respondents cited a lack of in-house tech expertise as a barrier to adoption. Meanwhile, 21 percent get by with manual processes and say there isn’t a pressing need for fulfillment solutions yet.
  • Retailers know where they want to improve. Most retailers admit that they have room for omnichannel enhancements. Respondents identified three main areas they need to improve: 37 percent want to personalize the online experience better, 21 percent want to bring a more human element to the online experience, and 29 percent want to improve the in-store experience with technology.

“Retailers that don’t see the value of omnichannel now will eventually experience growing pains as the evolution picks up speed,” explains Will Lovatt, general manager and vice president at Deposco. “When their customers pull them toward it, they’ll have to respond.” But it’s never too late to start prioritizing omnichannel fulfillment, he continued. “If you’ve got a brand that a customer wants to buy,” says Lovatt, “then they’ll buy it where and how they want to buy it, and you better be present and ready to sell it.”

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