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Omnicommerce

Is Omni Entering A New Era?

Smartphones are now driving more traffic to stores than desktops – yet mobile phones are but one of many omni-endpoints that a merchant must be prepared to support in an increasingly tech-driven consumer-centric shopping experience. July’s Omnicommerce Tracker dives into this topic with PayPal and uncovers some of the overlooked but underutilized ways merchants can prepare to respond.

It’s official. Mobile is a shopping force. UPS’ Pulse of the Online Shopper Survey found that 44 percent of online purchases are made on smartphones.

It’s also problematic.

Mobile is setting the bar for all of the omnicommerce retail experiences to follow. Yet mobile phones are but one of many omni-endpoints that a merchant must be prepared to support in an increasingly tech-driven consumer-centric shopping experience. And, using its robustness as a tool, has expanded the definition of omnichannel shopping far beyond simply buying online and picking up in-store, leaving many merchants feeling overwhelmed with options.

July’s Omnicommerce Tracker dives into this topic with PayPal Senior Director Chris Morse and uncovers some of the overlooked but underutilized ways merchants can prepare to bridge this digital divide.

Here’s a sneak peek:

It may not be long before online shopping begins to evolve into a “mobile only” space, with online order placements on mobile devices surpassing computers by about 13 percent in just a couple years.

 Looking ahead, it’s safe to say no one really knows what new context or platform could be coming down the pipeline.

 And now software platforms such as Uber and Airbnb are creating entirely new experiences and environments for commerce, which can almost be looked upon as a new “endpoint” as well.

 From the merchant perspective, Morse said, the key is to remain agnostic and open – since consumer choice dominates.

Is online replacing in-store? 
Recent omnichannel headlines reveal that more consumers than ever are choosing to shop online as opposed to in-store. In fact, UPS’ Pulse of the Online Shopper Study found that 51 percent of purchases are now made via the internet.

A report from Yahoo and Ipsos predicted that digital shopping platforms will take center stage for 2016’s back-to-school haul, as 55 percent of consumers plan to research school-related products online before buying. ECommerce is also expected to be heavily utilized by this year’s holiday shoppers, most of whom plan to make purchases from Amazon.com.

Brick-and-mortar shopping remains a major source of revenue for merchants, however, Mindtree published a report that found consumers who interact with sales associates in person are 43 percent more likely to buy something than shoppers who browse products without any help.

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To download the July edition of the Vantiv Omnicommerce TrackerTM, click the button below.

omnicommerce_download_here 

About The Tracker

The Vantiv Omnicommerce TrackerTM, powered by PYMNTS.com, features industry-spanning research and insights that arm retailers with data to make smarter decisions for enabling omnichannel commerce.

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