Mid-Sized Retailers Missing The Mark On Omnichannel Initiatives

Mid-sized retailers are missing the mark when it comes to investing in their omnichannel initiatives, according to a new research report from Freestyle Solutions, a provider of order management software for retailers and brands.

The study found there is an untapped opportunity for mid-market retailers to provide a more customer-centric shopping experience based on investments in the omnichannel. What’s more, the study found that a lot of the sales channels remain siloed, and for the ones that have taken a stab at omnichannel, the varying approaches often relied on cobbling the systems or processes together.

“Today, mid-market retailers must invest to unify their shopping experience, for both technology and personnel, or risk disappointing customers who have had their expectations set by the retail industry giants,” said Lauren Freedman, president of the e-tailing group, an Astound Commerce company, said in a press release highlighting the research. “The results showed that, although some omnichannel investment has been made at mid-sized retailers, there is still a lot of room for improvement, and these retailers must close the gap.”

According to the report, only 32 percent of retailers enable in-store pickup for online orders, despite the fact that 76 percent of the retailers can access inventory across the entire enterprise. What’s more, less than half, 44 percent, had an in-store product locator. The study also found 56 percent of retailers can access an online order through a point-of-sale system, while 42 percent of store associates can access an online order via a packaging slip or receipt in-store.

The research on the part of Freestyle Solutions doesn’t come as a surprise, given PYMNTS has long tracked the readiness of retailers when it comes to their omnichannel. Through the PYMNTS OmniReadi Index, we’ve found omnireadiness, on average, did not increase in the first quarter of 2016, which is close to the findings in Dec. 2015. There was one major distinction between December and the first quarter of 2016: Scores for the lowest tier of companies continue to plummet.