LCP GRAPHICS TROLLEYS 11. Omni-channel dominates but it’s not the only choice 

  • The shift to Omni-channel continues  with over half of respondents defining themselves as Omni-channel retailers this year compared to just over a third last year. 
  • A core group of respondents have decided not to pursue an Omni-channel strategy. They appear to have settled on a Pure-play or Multi-channel combination of price, availability and service and are optimising this model.
  • Those respondents who have gone the Omni-channel route are reaping  benefits. Nearly a third of the Omni-channel retailers reported sales increases of between 10% and 20%. 



LCP GRAPHICS ARCHETYPES 12. Four retail archetypes emerging

"Our 2013 research suggested that there were only 2 retail archetypes; Omni-channel winners Multi-channel losers. This year’s research provides a richer picture of what is going on. It’s clear that Omni-channel Pioneers and Optimised Multi-channel /Pure-play retailers are setting the pace."

Stuart Higgins, Retail Partner, LCP Consulting
 

LCP GRAPHICS COG 13. Promising front-end service without back-end capability is a risk

  • Not only are Omni Pioneers delivering a truly integrated experience, but also fundamentally changing customer expectations of service delivery 
  • This is resulting in varying levels of customer complaints across the industry as those without a fully integrated back-end capability struggle to meet the enhanced expectations generated by Omni-Pioneers
  • 33% of Omni Pioneers are seeing an overall increase in customer satisfaction
  • Yet 41% of Omni Channel Followers see a reduction in customer satisfaction as they try to bend their back end capability to meet their front end

 

LCP GRAPHICS MAGNIFYING GLASS 84. Insight is key – both customer and business

  • We live in the age of ‘Big Data’ The challenge is to harness that data and extract what’s really valuable 
  • The winning archetypes place a high importance on data and insight balancing an intimate understanding of customers with an integrated view of sales, working capital and profit

LCP GRAPHICS TSHIRT5. Differentiation is still vital in the eyes of the customer

  • Today’s post-recession, digitally armed customers want new and different experiences
  • Retailers today must differentiate across every touch point by:
    • Offering a consistent customer proposition
    • Delivering a seamless order management and customer experience
    • Establishing and maintaining fulfilment excellence
    • Providing effective personalisation

Exploring 2014 Omni-channel Study