Personalization Glossary
A/B testing? Recommendation models? The personalization engine space uses several acronyms that may seem daunting, so we're here to help. You can find definitions to the most common e-commerce customer experience optimization terms here!
Omnichannel Retailing
omnichannel retailing (or omnichannel commerce) is a multichannel approach to sales that focus on providing seamless customer experience whether the client is shopping online from a mobile device, a laptop or in a brick-and-mortar store.
It is a cross-channel content strategy that organizations use to improve their user experience and drive better relationships with their audience across points of contact. Rather than working in parallel, communication channels and their supporting resources are designed and orchestrated to cooperate.
As the customer journey is a varied experience and has various multiple touchpoints, omnichannel retailing aims to give a seamless shopper experience across all channels.
How is it different?
Omnichannel retailing addresses all possible touchpoints a specific retailer can leverage in order to better influence the customer purchase decision. This includes channels such as traditional print, email, social media, a website, retail location, online ads, or mobile app.
Vue.ai provides an omnichannel personalization solution that sends millions of personalized emails to shoppers, leverages computer vision and natural language processing to deliver contextual product search results, and delivers real-time style recommendations.
Studies show that 75% of shoppers use multiple channels to compare prices, check for discounts and check for in-store labels to shop online.
The more channels that customers can shop in the more the opportunity for them to spend.
A report by IDC Retail Insights found retailers using omnichannel marketing strategies saw a 15–35% increase in average transaction size, a 5–10% increase in loyal customers’ profitability, and 30% higher lifetime value.
With new channels cropping up every few months and diluting attention from existing channels, it has become pertinent to have a strategy that will allow for omnichannel flexibility. Omnichannel retail does more than just position products across channels, it also positions brands in ways that would build on existing relationships and forge new connections. Customer retention is one of the biggest benefits of a good omnichannel retail strategy.
Visit our page to know more about how vue.ai helps with omnichannel personalization