We’re glued to our digital devices. So much that 73% of people reported spending more time shopping online than ever before. As consumers begin to browse and shop with brands on more and more digital platforms, businesses must be ready to engage their audience through an omnichannel strategy on all of their digital touchpoints. While an omnichannel strategy might have been a herculean task to execute correctly in the past, current omnichannel statistics point to the reality that such a plan of action isn’t just beneficial for business but essential.
The COVID-19 pandemic has changed the world of commerce forever. While many consumers were already shopping across multiple digital platforms and touchpoints, COVID-19 has all but forced consumers to rely on the accessibility, convenience and practicality that digital shopping and eCommerce offers.
However, the most successful businesses didn’t just meet their customers online; they continued the engagement offline, too.
For example, U.S retailer Target experienced a retail sales increase of 24.3% and an overwhelming 195% digital sales increase in Q2 of 2020. Their success is accredited to the successful integration of physical and digital store channels.
In fact, the organization discovered that their multi-channel customers were likely to spend 4x as much as their retail-only counterparts and up to 10x as much as their digital-exclusive counterparts. More than three-quarters of their sales were placed online and fulfilled in-store in that same period.
With that being said, how does omnichannel get factored into the equation, and what does it even mean to be omnichannel in the first place?
What Does Omnichannel Even Mean ?
Before the COVID-19 pandemic, many businesses and retailers relied on either single-channel or multi-channel engagement. Marketers already know that customers browse, shop and engage with brands on various platforms and channels. Still, some may only want to invest in engagement through a single channel, such as print media or social media, or through multiple channels at once.
Whether through a single channel or multiple channels at once, marketers miss out on selling opportunities from customers who shop on alternative channels or shoppers at different stages of their buying journey.
For example, brands risk alienating a customer on the verge of conversion from receiving an informational print ad promoting the very product they’re purchasing. Conversely, a customer that’s in the discovery phase of the buyer’s process might view disconcerted messaging from social media ads, retailer flyers and commercials as confusing.
On the other hand, Omnichannel unites engagement efforts for all channels under one centralized strategy to provide a seamless customer experience throughout each stage of the buyer’s journey across all the channels they engage and shop on.
Some examples of omnichannel engagement include an ad online promoting a sale item at a store near their geographic location or an SMS text message with a discount code once shoppers enter the store. Whatever strategy omnichannel marketing employs, the goal is to provide a streamlined customer experience throughout all customer journey stages.
But the question remains; how effective is it really? Check out these 25 omnichannel statistics that show why it’s essential for 2022.
25 Omnichannel Statistics Brands Need to Know for 2022 .
Marketers using three or more channels in any one campaign earned a 287% higher purchase rate than those using a single-channel campaign.
Omnichannel campaigns that involved SMS at some point of the process were 47.7% more likely to end in conversion.
Purchase frequency is 250% higher on omnichannel vs. single-channel, and the average order value is 13% more per order on omnichannel vs. single channel.
Customer retention rates are 90% higher for omnichannel vs. single channel.
98% of Americans switch between devices throughout the day.
15 years ago, the average consumer typically used two touch-points when buying an item, and only 7% regularly used more than four. Today consumers use an average of almost six touch-points, with nearly 50% regularly using more than four.
Over 35% of customers expect to contact the same customer service representative on any channel.
Companies with strong omnichannel customer engagement retain on average 89% of their customers, compared to 33% for companies with weak omnichannel customer engagement.
77% of strong omnichannel companies store customer data across channels, compared to 48% for weak omnichannel companies.
61% of customers have not easily switched from one channel to another when interacting with customer service.
Customers’ number of orders placed online and picked up at brick-and-mortar stores grew 208% during the pandemic.
Data collected by Think With Google shows that omnichannel strategies help generate around 80 percent of the in-store visits by customers. Additionally, 74 percent of customers do online research before visiting a physical store.
64% of marketers cite lack of resources and investment as top barriers to omnichannel marketing.
90% of customers expect consistent interactions across all channels.
Research from Think With Google shows that 71% of shoppers who use smartphones for research in-store say that it’s an essential part of the experience.
Think With Google also found that omnichannel shoppers have a 30% higher lifetime value than those who shop using only one channel.
Companies with strong omnichannel engagement saw a 9.5% year-over-year increase in annual revenue, compared to a 3.4% increase for weak omnichannel companies. Similarly, strong omnichannel companies see a 7.5% year-over-year decrease in cost per contact, compared to a 0.2% year-over-year decrease for weak companies.
85% of companies identified by Aberdeen Group as being top-performers in omnichannel strategy conduct regular training of customer care agents in omnichannel communications, with another 77% storing customer data across multiple channels.
A Forrester report found that 45% of in-store shoppers expect sales associates to know online-only products.
The same Forrester report also found that 71% of shoppers believe viewing in-store products’ inventory information is essential.
Forrester also found that 50% of shoppers expect to make a purchase online and pick it up in-store.
39% of consumers are unlikely or very unlikely to visit a retailer’s store if the online store does not provide physical store inventory information.
Mobile devices are important. Forrester found that 56% of consumers have used their mobile device to research products at home, with 38% having used their mobile device to check inventory availability on their way to a store, with 34% using their mobile devices to research products while in a store.
69% of consumers expect that store associates be armed with a mobile device to perform immediate tasks such as looking up product information and checking store inventory.
7% to 25% of consumers faced with a stock-out will continue shopping but won’t buy a substitute for their desired item at the store; 21% to 43% will go to another store to buy the item.
Omnichannel Statistics - Engagement Can’t Be Ignored .
With the cannabis space facing so many unique challenges and red tape, engaging with customers in a meaningful way is a daunting and challenging task. However, the above omnichannel statistics illustrate how important omnichannel engagement is in today’s business environment.
From writing compliant product copy to designing unique cannabis product packaging, Clout Brands is helping cannabis brands reach new heights. Whether it’s product design, marketing collateral or omnichannel marketing efforts, our experience in the industry helps cannabis brands do more and be more. If you want to be the next great cannabis brand, contact us for a free consultation or email us directly at [email protected].