Opportunities for SMB Retail OmniChannel Success

Here’s some good news: Retailers that have successfully implemented omnichannel strategies can produce up to 30% more revenues through their e-business activities. Here’s some not so good news: today, customer loyalty may depend on omnichannel functionality: if you do not offer omnichannel services and functionality, a customer will quickly move on to someone who does.

SMB retailers may think, “Unless I’m doing $100 million or more in revenues, then omnichannel is not for me.” We here at GoECart debunk that myth everyday – no other vendor offers the full stack of technology that we do at prices that are cost-effective for SMBs. We offer a multi-site, multi-lingual and multi-brand ecommerce platform, combined with POS, integrated order management systems, warehousing fulfillment solution and integration with marketplaces such as Amazon and EBay within our native solution— these are not an add-ons or integrations.

Visibility into supply chain is also important.  Retailers are running as lean as they can, not keeping as much inventory, so they need to know when an item is going to be available in order to meet a customer’s expectations.

What we’re saying is that, with GoECart, you can compete with much larger companies in an omnichannel environment and offer the same level (or better) of customer satisfaction.

Inventory Challenges:

Before, one of the biggest challenges for omnichannel retailers was inventory visibility across the enterprise. Traditionally, inventory in the distribution centers was handled in warehouse management systems, and inventory in the stores was handled in in the Point of Sale (POS) retail management systems and the inventory in the supply chain was found in the ERP.

When you break these silos down and embark on a strategy of omnichannel fulfillment, if your inventory records are residing in three different systems it becomes very hard to reconcile that inventory. Unless a retailer has installed a distributed Order Management System (OMS), which provides real-time visibility into inventory and fulfillments functions across three silos, retailers will struggle with implementing omnichannel strategies.

Buy Online, Pick Up in Store

What Is Changing in Omnichannel

It’s no longer acceptable to offer “buy online and pick up in store” if when the customer goes to the store the associate is making the customer wait for 30 minutes to pick up that item. Customer expectation have increased: they expect retailers to be on top of their omnichannel activities not just in order capture, but in terms or order fulfillment and customer service. Customers expect omnichannel functionality in-store, as well as transparency into inventory visibility, before they get in a car and drive to a brick and mortar location for an item they’ve decided to purchase. They expect customer service across all channels, such as order modification, order cancellations, credit and refunds.  GoECart can help you hit all those customer expectation markers.

Omnichannel strategy is not solely the domain of Fortune 500 retailers. Every retailer should be thinking about omnichannel strategies, within the channels that they operate and any additional channel that they may decide to expand into. And the technology is available today to make that happen in a cost-effective fashion for the SMB

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