What led to such a rise in popularity of the e-commerce website?
Accessibility, No destination barriers, internet connectivity everywhere, time-saving, comparison of products possible, economical are some of the factors that led to the sudden rise of the popularity of e-commerce website in a short period. Some of the leading and well-known e-commerce websites such as Amazon, eBay, Anotah, Max fashion, Shopify are examples of such sites which grew in popularity in a short period. Each year we are witnessing a considerable number of innovative changes or trends in the field of e-commerce. Off late multichannel retailing and omnichannel retailing has been able to get some attention successfully. Whether we are aware of it or not, all marketers are either engaged with omnichannel retailing or retailing. Whether it be multichannel retailing or omnichannel retailing customer experience should be the significant factor that every e-commerce business should take into consideration.
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Let’s dive deep into understanding the difference between multichannel retailing and omnichannel retailing. Multichannel Retailing
During the earlier days, single-channel retailing was the most common thing. Customers needed to buy products from either from a brick-and-mortar store or an online website. Brick-and-mortar shop was the most preferred form of shopping back in the olden days. As the popularity of the internet grew, e-commerce websites started acquiring the market. This reason led to various e-commerce websites switching to multichannel marketing strategies leaving behind single-channel retailing. Whether it be through a brick-and-mortar store or an e-commerce website, with multichannel retailing, you can reach your audience wherever they are irrespective of their location. With mobile devices handy, shoppers have the freedom to buy according to their preferences. Most shopper today like to browse, read reviews, compare pricing and look for discounts. Understanding a customer’s journey is essential for an e-commerce business. By adopting the multichannel marketing strategy, e-commerce companies can gain an advantage over their competitors.
Let’s explain multichannel retailing with an easy example.
- Customer 1 wants to buy a particular cloth.
- With easy access to the internet, he decides to search for the product online.
- Your e-commerce website gets displayed in the search result.
- Chance of the customer 1 clicking your website and purchasing it either from your website or from your retail shop is very high.
- Without having an e-commerce website, the chance of getting noted is very less in this digital world.
Omnichannel Retailing
Multichannel retailing offers the flexibility needed for the customers. But shopping habits of people have changed a lot over time and at present customers prefer more than two channels for shopping of products or services. With the rise in popularity of social media platforms and people preferring to spend more time browsing social media platforms, the probability of your product reaching the right audience through social media is very high. Social media has opened new doors of marketing as far as e-commerce industry is considered.