UK shoppers now make 87% of their retail purchases online, which is an increase of 9% on last year’s figures according to the Royal Mail’s annual UK report. As online retail continues to demonstrate further expansion, how businesses are embracing this is still varied. Whilst some retailers have a clear strategy, others are often operating by trial and error when promoting products and securing orders. We look at how businesses are advertising through the well-established multi-channel approach and the ‘up and coming’ omni-channel method.
Whilst larger retailers have teams of marketeers to publicise their goods and can provide dedicated investment through the likes of social media to fulfil the omni-channel approach. It’s the smaller businesses who find this harder, either because of lack of knowledge or just not having the right resources. They also cannot always envisage how they could use it to its full potential. Often learning on the hoof and from others is the only way of getting to grips with selling in this manner, having no real marketing strategy is a big challenge for business owners.
The well-known multi-channel approach used by online retailers to sell products has been around for some time now. Selling products online and offline with little integration and communication between the two, the multi-channel option aims to fulfil the customers needs directly through the channel in which they have approached the buying experience e.g. Look in store, buy in store. Look online, buy online.
The omni-channel approach is changing how retailers market their product to consumers
The omni-channel approach is changing this as it seamlessly keeps in touch with the customer across all channels by connecting them through advertising, social media, apps and smartphone notifications. This allows the retailer to keep in constant contact with the customer once they have searched for a specific item to gently persuade them to buy. It also enables the retailer to keep a closer eye on which products are being searched for the most and offers valuable feedback on product data. The ability to communicate with the customer through social media and other online help tools like the customer to offer feedback on products they have bought offers new and exciting methods of really communicating with the customer.
Calling all online retailers and Amazon FBA retailers, here at Crendon Insurance Ltd our online retail insurance team are on hand to support your business with online retail insurance. By covering the complete process from manufacture or sourcing of goods to storage and warehousing, through to distribution and consumer sale, we are able to cover each step of your supply chain. To find out more, please speak to our online retail insurance advisors or see our online retail insurance page.
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