{"id":7613,"date":"2022-12-01T09:05:00","date_gmt":"2022-12-01T09:05:00","guid":{"rendered":"https:\/\/synder.com\/blog\/?p=7613"},"modified":"2026-04-02T12:49:45","modified_gmt":"2026-04-02T12:49:45","slug":"omnichannel-retail-strategy","status":"publish","type":"post","link":"https:\/\/synder.com\/blog\/omnichannel-retail-strategy\/","title":{"rendered":"Omnichannel Retail Strategy: Create Your Own Omnichannel Strategy for E-commerce Business"},"content":{"rendered":"\n

Learn why omnichannel retail seems to be the most optimal way to adjust to the changing e-commerce landscape today.<\/em><\/p>\n\n\n\n\n\n\n\n\n

In the past few years, we\u2019ve seen small businesses massively moving online. Social media has hugely contributed to this trend. Millions of companies have long and successfully used them as a means for marketing, brand recognition, and communication with customers. By providing businesses with easy-to-use and affordable e-commerce tools<\/a>, it has helped establish online sales quickly and without additional investments. Thus, the influence of social media, which has long become an integral part of our daily life, has increased many times over. Actually, it\u2019s just what Gary Vaynerchuk spoke about in one of his interviews, calling social media the new state of the internet<\/a>. However, it has also created a kind of platform dependency for those businesses that relied on social media as their only source of online sales. <\/p>\n\n\n\n

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I\u2019ll risk playing Captain Obvious and say that diversifying sales channels can be a perfect answer to this challenge. And basically, there are two strategies that can be of great help here – multichannel<\/strong> and omnichannel retailing<\/strong>. Let\u2019s take a closer look at what an omnichannel strategy is, how it can help prevent platform dependency risks, and how to make the most of it.<\/p>\n\n\n\n

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Contents:<\/b><\/h3><\/p>\n\t

1. What is multichannel retail: Different bags for your eggs<\/a><\/p>\n\t

2. What is omnichannel retail: The power of integration<\/a><\/p>\n\t

3. Omnichannel retail strategy: How to win at omnichannel retail<\/a><\/p>\n\t

4. Omnichannel trends for 2023<\/a><\/p>\n\n\n\n

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What is multichannel retail: Different bags for your eggs<\/strong><\/span><\/h2>\n\n\n\n

Now, there\u2019ll be a little digression from multichannel retail if you don\u2019t mind, as I want to talk about\u2026 eggs and baskets.<\/p>\n\n\n\n

You might have heard it many times and on many pretexts: don\u2019t put all eggs in one basket. I really like the expression, as it perfectly applies to the case of businesses with a single storefront.<\/p>\n\n\n\n

And here your natural reaction can be like: wait a minute! How is it connected with multichannel retail? Didn\u2019t we already diversify when we went online in addition to our brick-and-mortar store? And now, you say, it\u2019s not enough.<\/p>\n\n\n\n

Okay, you\u2019re right. <\/p>\n\n\n\n

And you\u2019re not quite right. <\/p>\n\n\n\n

The pandemic made you\u2014just like many other small businesses\u2014face an urgent need to reach your customers in a different way, other than in-person sales. It became a matter of survival even for some big brands, not speaking about small retailers. Whether you used Facebook Shops or any other e-commerce platform<\/a>, that was a brilliant way out.<\/p>\n\n\n\n

But speaking in medical terms, that was a treatment for a symptom, not a remedy for the disease. What actually happened is that you just brought sales from a place that stopped working for you to another one, which was a salvation in that particular moment. But the problem of sticking to one channel remained pretty much the same, though under disguise. Back to the eggs and baskets example, we took all our eggs from the old basket and put them into a new one. So, after all the energy and resources invested into going online, you seem to end up with one basket and all the potential risks that come with it, again. Naturally, you need plan B. Here comes the multichannel retail solution. Understanding the difference between SKU vs UPC<\/a> is crucial for retailers as they expand their sales channels, ensuring accurate tracking and management across diverse platforms.<\/p>\n\n\n\n

What if we take several baskets, fill them with eggs, and go to meet our customers everywhere where they can be? And in case one basket drops, you still have plenty of eggs to sell. Simply put, that\u2019s how multichannel retail works. <\/p>\n\n\n\n

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Diving into more detail, multichannel retailing is a business strategy that involves selling your products (or services) through multiple channels, including online and offline. For example, you can sell through your brick-and-mortar and online stores, your business pages on Facebook and Instagram, and various marketplaces, such as Amazon, eBay, or Etsy. In addition, you can promote your special offers via email with an option to pay directly from inside the email<\/a>. The understanding of multichannel retailing is pretty clear so far.<\/p>\n\n\n\n

And now it looks more like a success plan. Here are some reasons why trying out multichannel retailing is worth it.<\/p>\n\n\n\n

Multichannel retailing reason #1. No platform dependency<\/h3>\n\n\n\n

How nice it\u2019d be to have something to cover your back in case your sales channel gets out of reach. It\u2019s kind of leaving a bad taste in the mouth as sales are lost when the platform faces some problems (like it was with Facebook, when sellers lost their sales just because the platform went down) and some of the customers might never come back. So pretty obviously, in multichannel retail, the risk of losing customers due to the service downtimes is eliminated.<\/p>\n\n\n\n

Multichannel retailing reason #2. More engagement<\/h3>\n\n\n\n

Here\u2019s another thing to consider. People very rarely buy instantly, without any research, when shopping online. They usually visit a plethora of places during their journey to purchase: from small online shops and Amazon stores<\/a> to Instagram shoppable posts, product videos on Youtube, or even TikTok. Boom! Multichannel retailing. How likely is it that you reach them if your company or dropshipping business<\/a> is represented in only one of these places? It\u2019s like a big tasty, juicy pie of which you get only a tiny, minuscule piece with your only store (and it hurts).<\/p>\n\n\n\n

Multichannel retailing allows you to offer your customers various touchpoints to purchase your products or services and to engage with multiple audiences through several sales channels, thus widening overall brand awareness and reach.<\/p>\n\n\n\n

Multichannel retailing reason #3. More sales<\/h3>\n\n\n\n

This is pure math. Multichannel retailing gives you the possibility to grab more attention from your potential customers, meeting them at different stages of their journey. Moreover, you can profit from the power of marketplaces to have better visibility in search results. All these possibilities combined are more than likely to boost your sales.<\/p>\n\n\n\n

The peculiarity of multichannel retail is that each channel works as a separate business. It may target a different audience and offer a different customer experience. Moreover, the stock may also vary from channel to channel.<\/p>\n\n\n\n

However, this separation is also a big drawback of multichannel retailing. Having your sales channels siloed drastically complicates your business operation, which can include the management of separate inventories, customer bases, payment systems, and more.<\/p>\n\n\n\n

From the customers\u2019 point of view, their experience isn\u2019t unified across channels. What does that mean? It\u2019s great that they can find you online and buy the product they like from you or learn where your physical store is to go and buy there. However, situations may occur when a customer comes to your store only to find that the product they wish to purchase is only available online. And that\u2019s not the only downside of multichannel retailing. <\/p>\n\n\n\n

Another example: a customer doesn\u2019t want to wait for the delivery and would love to pick up their purchase in-store. And if you don\u2019t offer such a possibility with your multichannel retailing strategy, a customer may leave disappointed and never return.<\/p>\n\n\n\n

Today, customers expect a smoother experience across all channels and various devices. So it\u2019s logical to answer their needs correspondingly. And that\u2019s what omnichannel e-commerce<\/strong> does.<\/p>\n\n\n\n

What is omnichannel retail: The power of integration<\/strong><\/span><\/h2>\n\n\n\n

These aren\u2019t just some buzzwords –  give me a couple of minutes, and we\u2019ll get to the point.<\/p>\n\n\n\n

At first glance, multichannel and omnichannel retail have a lot in common. No wonder that people often confuse them or believe them to be the same thing. However, there\u2019s a difference.<\/p>\n\n\n\n

What\u2019s omnichannel retailing? <\/p>\n\n\n\n

Omnichannel retail is a more customer-centric strategy that\u2019s based on transacting across multiple channels. It aims at providing a smoother, more consistent cross-channel (and cross-device) customer experience using integrated data from all the channels. Thus, the core attribute of omnichannel retail is integration<\/a>. The omnichannel strategy helps ensure that your customers have consistent product information, can control their purchase orders, or have the same level of service across all your channels. Moreover, having a good omnichannel strategy and consolidated data from all your sales channels can provide you with invaluable means for enhancing your acquisition and digital customer engagement<\/a> and facilitating your business operations in the face of an increased number of sales channels.   <\/p>\n\n\n\n

So how does omnichannel retailing actually work?<\/p>\n\n\n\n

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Here\u2019s an example of customer experience with omnichannel retailing. A customer finds a product on your e-commerce store, and then they can get to your website to see more details about it. You lead them directly to the product page (so that they won\u2019t need to look for the product they liked again), or delivery page to find out about your delivery or pick-up options. This looks like a great omnichannel strategy! The customers can also make an order online and then go to your physical store to pick it up, as they happen to be nearby, and a shop assistant can immediately find the order in the database and prepare it for pick-up. Moreover, with omnichannel retailing, you can keep this very customer\u2019s purchasing history from all the channels so you can offer them similar or supplementing products or promote new arrivals and discounts.<\/p>\n\n\n\n

Now let\u2019s look at some of the biggest benefits of omnichannel retail for a business.<\/p>\n\n\n\n

Omnichannel retail strategy ensures a higher level of customer satisfaction<\/h3>\n\n\n\n

With the omnichannel retail solution, you can offer customers the experience that they expect, which can pay off positively. The freedom to choose and convenience in how they want to buy from you helps you gain more customer loyalty, improve customer retention, and as a result, get more sales. Omnichannel retail consumers have long proven to have a 30% higher<\/a> <\/a>lifetime value<\/a> than those that buy from a single channel. <\/p>\n\n\n\n

Omnichannel retailing provides a comprehensive view of your sales<\/h3>\n\n\n\n

Without an effective omnichannel retailing strategy, when your sales channels are in silos, you might be getting the wrong data on your customers and sales. It can result in not just missing revenue opportunities but also significant losses. Meanwhile, an integrated view of your sales data\u2014which is essential in the omnichannel retail strategy\u2014gives you a more accurate picture of your sales, the efficiency of sales channels, the demand, and more. And making your business decisions based on the real view of your sales can help timely tweak your tactics to answer customer needs and manage your sales more efficiently. For a pragmatic overview of retail omnichannel analytics<\/a> tools for 2026, including comparisons on data coverage, identity resolution, and event-to-action speed, consult this guide.<\/p>\n\n\n\n

Omnichannel retailing facilitates inventory management<\/h3>\n\n\n\n

Poor inventory management<\/a> is one of the reasons for inventory distortion. Simply put, it means having corrupt data about your inventory. According to the IHL report, it accounts for $1.1 trillion of lost revenue opportunities annually worldwide. The omnichannel retail solution will be useful even here. Putting together all your inventory data helps to get better, more realistic figures of what you have in or out of stock and react correspondingly. This omnichannel retail strategy includes preventing shortages or overstocking, avoiding extra expenses, predicting demand, and offering better shipping options to your customers.<\/p>\n\n\n\n

Omnichannel retail strategy: How to win at omnichannel retail<\/strong><\/span><\/h2>\n\n\n\n

So you see, when set up the right way, omnichannel e-commerce can be a win-win for you and your customers. As a special treat, here are some helpful tips and tricks for winning at omnichannel retail.<\/p>\n\n\n\n

Omnichannel retailers tip #1. No rush, more research<\/h3>\n\n\n\n

No matter how tempting it\u2019s to embrace everything and become the omniest at once, don\u2019t forget that omnichannel retail isn\u2019t a cheap thing. An increase in spending is still inevitable with the addition of each new channel. It\u2019s better to make your omnichannel retail customer strategy a long-distance run rather than a sprint and start with some three-four sales channels. You\u2019ll also need to carefully choose where you go and invest some time into research. Thus, you\u2019ll ensure that using the omnichannel retail strategy you focus on those channels where your customers (and customers-to-be) spend more time. In addition, based on the user behavior typical for those channels, you\u2019ll be able to provide customers with the experience that they expect. <\/p>\n\n\n\n

Omnichannel retailers tip #2. Segment your customers<\/h3>\n\n\n\n

Customers aren\u2019t all the same. Every customer has different needs, interests, and buying habits. Understanding your customers on a deeper level is critical if you want to create tailored experiences and drive loyalty. To get started with segmenting your customers, you need to identify key factors that make a customer unique. For example, do they live in a specific region, buy specific products or services, or have some other commonality? The more granular you can make your segments, the better you\u2019ll be able to serve those customers.<\/p>\n\n\n\n

If you\u2019ve been in the field for some time and have a number of customers and sales, then all you need to do is to take advantage of a software that\u2019ll do all the calculations for you. Such a tool as Synder Insights<\/a> can give you an overview of your business in the form of statistics. It provides the users with the information about:<\/p>\n\n\n\n