Omnichannel retailing combines the advantages of both offline and online shopping channels in order to provide a seamless shopping experience to consumers. This form of retailing includes retailing through multiple diverse channels such as mobile applications, websites, physical outlets, catalogs, call centers and more. Rising digitalization and growing consumer preference for convenience has boosted the demand for omnichannel retail strategy.

Key Takeaways

Key players operating in the Omnichannel Retailing are Amazon, Walmart, Alibaba Group, Target Corporation, com, eBay Inc., Best Buy Co. Inc., Zara (Inditex Group), The Home Depot Inc., Nordstrom Inc., Macy’s Inc., Costco Wholesale Corporation, Apple Inc., Tesco PLC, ASOS PLC. These players are focusing on expanding their product portfolio and services to different regions in order to strengthen their market position.

The Omnichannel Retailing Market Demand provides numerous opportunities for retailers such as executing personalized marketing strategies, enhancing customer experience, improving visibility across channels and reducing returns. Technological advancements such as artificial intelligence, IoT, predictive analytics and augmented reality are enabling retailers to gain valuable customer insights and personalize shopping experiences.

Market drivers

The growing penetration of smartphones and high-speed internet has enabled consumers to research and purchase products online easily. This has boosted the growth of e-commerce sector worldwide. According to statistics, global e-commerce sales accounted for more than 25% of total retail sales in 2020. Rising online shopping trends among consumers is a major market driver for omnichannel retailing approach adopted by retailers. This approach provides seamless transition between online and offline shopping channels and enhances customer satisfaction.

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